A business plan is a written description of your business from your perspective. In it, you explain how your business will operate, its policies and procedures, how products will be made or services delivered. It reveals the strengths of your expertise and any others who work in your business. It explains in specific terms your marketing plan, and projects cash flow and profit and loss for three to five years. The more specific you can be, the better you understand your business. If your answers are vague, then it probably means you don't know the answer.
Business plans that are written for internal use do not need to be "pretty;" but they do need to be as comprehensive as those that are prepared for a third party. Friends, family, banks, business angels or even venture capitalists - anyone who has a financial interest in your business - will expect you to provide a detailed description of what will happen, why, and how.
Although you are the best person to write it, because you know more about it than anyone else, it's a good idea to have someone coach you through it. This will help you to think about issues you may have overlooked and will prevent you from giving yourself unsatisfactory answers.
Do you still have questions? Here are some more options:
1. Sign-up for the newsletter
2. Buy Managing Value-Based Organizations: It's Not What You Think Caution: This book is only for serious students of leadership and management. Click here for an excerpt.
3. Get an answer now.
