Articles on all aspects of writing a business plan and planning your business. Find articles on topics including developing a business plan, business plan killers, how to get ahead with your business plan, and proving your business case.
Business Plan is an Enterprise’s Foundation
As a writer, I’ve come to realize that the most beneficial part of business planning arises from the act of writing the plan. In writing a business plan, we clarify our thoughts. This, along with the necessary research, sets up a very healthy learning process. Read the full article
Does Your Business Plan Prove Your Business Case?
A little diligence in planning can save time, money and energy as your business grows. Unfortunately, some people back away from business planning because it appears to be a lot of work. Although it can be a demanding task, it doesn’t have to be overwhelming, and the benefits can be remarkable. Read the full article
Eight Tips for Planning Your Business
If you are starting or growing a business and putting any more than a couple of paycheques at risk, you will want to do some planning. Here are eight tips to help you create a meaningful business plan . . . Read the full article
Eight Vital Steps to Proving a Business Case
After a number of years spent assisting start-ups to write business plans, I believe that the point of all early stage market research is to prove or disprove your business case; that’s what the feasibility does, and it’s best done before you go to the trouble of writing a business plan. Read the full article
Everyone Needs a Good Business Plan
Mention the need for a business plan to the uninitiated, and they will likely give you a lot of reasons why they don’t need one. But anyone who has successfully completed a business plan knows it is a healthy learning process that enables you to manage risk and confidently start or grow your business. Read the full article
Figuring Out Industry Standards
If you’re starting a business, you’ll want to know what the industry standards are. “Industry standards” are generally accepted methods, norms or benchmarks you can use to chart your own business path. For example, when setting prices for your products or services, you’ll want to keep one eye on your competitor’s prices as you set your own. Read the full article
Five Ways to Use Your Business Plan
It takes guts to defy chaos and predict the future of your business, and yet that’s precisely what an entrepreneur does when writing a business plan. Considering it’s a written roadmap that can be used at any point in the future to measure whether the business succeeded or failed, most people will put it off as long as they can. Of course, most people don’t own businesses either. But those who develop business plans quickly come to realize an abundance of benefits. Read the full article
Make a Plan to Succeed in Business
The most important reason to write a business plan is probably to save your house, or grandma’s nest egg, or whatever investment you are putting at risk. A business plan will help you learn more about your business and serve as a tool for communicating with others, such as bankers or investors. Read the full article
Selling Laptops to Polar Bears
The purpose of business planning is to prove or disprove your business case. Scary as that might sound, it’s as simple as making sure your business will draw enough customers to pay enough money for your products or services to enable your business and you to survive and perhaps even flourish. Read the full article
Smart Entrepreneurs Cruise with Business Plans
A quick search of the Internet will get you a mess of articles extolling the pros and cons of business planning. The advocates claim that anyone getting into business must have a business plan. On the other side of the argument are those who think business planning is a waste of time, including a few seasoned owners who matter-of-factly claim they’ve never had a business plan. Read the full article
Top 10 Business Plan Killers
It’s disturbing to have to reject a business plan, but sometimes it’s the best choice for all stakeholders. As a volunteer for a lending committee, I wish we could approve every loan application that hit our table; unfortunately it’s not possible. Read the full article
Why Develop a Business Plan?
You have decided to start a business and are now poised to develop one. Why would you set out to complete such a project? There are many sound reasons to begin your process by creating a business plan. Read the full article
You Win with a Business Plan
No matter how small your business idea, a business plan can help you build the confidence you need to get to opening day. Business planning is not just for large or high-growth ventures, and it really shouldn’t be put off until you need to borrow money. Read the full article
Seven Attachments That Make Your Business Plan More Credible
Business planning workshop participants often ask what sort of attachments should be included with their business plans. From a high level perspective, a business plan is made up of three main parts: narrative, financials and supporting information. Supporting documents are best attached as appendices to your business plan. Read the full article