what next after a business plan

Question

Aug 12, 2007, 12:16 PM

house of beauty

New Member

Join Date: Aug 2007

Posts: 2

what next after a business plan

after the business plan what next

Answers

Aug 12, 2007, 12:27 PM	#2
excon Expert Join Date: Aug 2005 Location: On the outside Posts: 13,278	Hello: Your business plan will tell you. That's why you write one. excon

Aug 12, 2007, 04:30 PM	#3

Fr_Chuck Christianity Expert Join Date: Nov 2005 Location: Georgia Posts: 36,900	If you need to borrow money, you take it to the bank. But honestly if you don't know, you need to go back and rewrite your business plan, it is suppose to tell you each step to get your business going.

Aug 13, 2007, 12:06 AM	#4

Clough

Arts & Small/Home Business Expert

Join Date: Mar 2007

Location: Rock Island, IL

Posts: 20,410

From the following site: Small Business Administration

Quote:

Using the Business Plan

A business plan is a tool with three basic purposes: communication, management, and planning. As a communication tool, it is used to attract investment capital, secure loans, convince workers to hire on, and assist in attracting strategic business partners. The development of a comprehensive business plan shows whether or not a business has the potential to make a profit. It requires a realistic look at almost every phase of business and allows you to show that you have worked out all the problems and decided on potential alternatives before actually launching your business.

As a management tool, the business plan helps you track, monitor, and evaluate your progress. The business plan is a living document that you will modify as you gain knowledge and experience. By using your business plan to establish timelines and milestones, you can gage your progress and compare your projections to actual accomplishments.

As a planning tool, the business plan guides you through the various phases of your business. A thoughtful plan will help identify roadblocks and obstacles so that you can avoid them and establish alternatives. Many business owners share their business plans with their employees to foster a broader understanding of where the business is going.



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