One of the cornerstones of launching a new business is writing a business plan. The plan is a roadmap to a business’s goals and outlines the steps to achieve them. The plan also serves as a sort of resume to put in front of loan officers, investors and partners to secure funding. Before you start plotting out your future, it’s important to think about all the components of a good business plan and why you want to have one.
To help you understand how to write a business plan, this guide will:
- Explain why writing a business plan is important
- Talk about when to write a plan
- Outline what should be included in your business plan
- Discuss different types of business plans and audiences for your plan
- Talk about updating your business plan