Nearly everyone in business at the management level or higher needs to do business planning.
Startups need business plans to justify the startup investment — whether from a venture capitalist, or from borrowing against your life insurance, or from your brother-in-law and your dentist taking a flier on your bright idea.
Small and medium-sized businesses need business plans to get lines of credit from gimlet-eyed bankers, to justify plans for growth, and simply to figure out if the business is going the way it’s supposed to go.
Even departments of large corporations need business plans, not least to justify their departmental budgets.
Fortunately, there is lots of software to help you create business plans and manage them, and some of the software is free. We’ll give you an overview of some popular products, along with an overview of the process of business planning, including the jargon and the key points you’ll want to address for your business planning to be effective.
Because the biggest beneficiary of your business planning efforts is always you — the act of thinking about these issues, the effort to pin down your assumptions and establish checkpoints, goals, and measures of progress and markers of success make your business run more smoothly, your budgeting process more realistic, and will increase the likelihood of your business success.
Why You Do Business Planning: A reminder of the specific benefits of a good business plan. Read More »
Getting Started: Here are the kinds of questions your business plan should address. Find out what information to gather in order to start your planning. Read More »
Business Planning Software: You don’t have to do it fron scratch! Learn about the programs that can help you build your plan. Read More »
More Tips for Tackling Your Business Plan: Some suggestions on the crucial final steps: here are experts who can check your work! Read More »
Jargon Watch: Confounded by the bizno terms? We definitione the key business-planning terms. Read More »
For Further Research: A few cash-flow things to keep in mind. Read More »
About the Author
Richard Morochove is an expert information technology consultant who specializes in finance and accounting issues for small and medium-size businesses. He can be reached at http://www.morochove.com.