The Importance of a Well Written Business Plan

When you are starting a new business or you are looking to possibly expand the one that you currently have, the most important thing to have at your disposal is a well written business plan. Without a well written business plan there is no way that you will be able to get where you need to be or where you want to be business wise.

So, why should you have a business plan? Here are just a few reasons:

•    Creates a Plan of Action: Having a business plan gives you a well thought out plan of action. As you create your business plan you will discover just how strong your business or business idea really is.
•    Lets Others Know You Are Serious: Just the fact that you took the time to write out a business plan shows others that you do in fact means business with your idea or your expansion. In this tough business environment, it is not enough to just say you are going to do something, people now want proof.
•    Helps You Get Funding: If you need money to get your business off the ground or to complete that expansion, then you have to have a well written business plan. Every institution you go into or any investor you sit in front of will all ask for one thing before you ever speak; your business plan. If you do not have a well written business plan to present to those who may be willing to lend you money, then you have absolutely no chance of getting any financial help.

You can write one yourself, use business plan software, or have someone else write it for you, but no matter what path you choose, you must have a well written business plan if you wish to make your start-up or expansion a smashing success.