Simple Business Plan Template – A Proven and Easy 10-Step Formula

There are a very few reasons why you would want to write a business plan.

1. To evaluate initial startup costs.

2. To establish the fundamental viability of a project

» Read more: Simple Business Plan Template – A Proven and Easy 10-Step Formula

Scrap the Big Business Plan – Here’s a Better Idea

Out of 300 people polled, 72% said they did NOT have a written business plan.

The truth is that most of you reading this article do not have a written plan.

Why?

» Read more: Scrap the Big Business Plan – Here’s a Better Idea

The Importance of a Business Plan For Entrepreneurs

A business plan is an indispensable tool for an entrepreneur and not only because of its importance to the fundraising process, but because of how it helps businesspeople crystallize their strategy and evaluate their process. These are the three major reasons to create a business plan if you are a hopeful entrepreneur.

Fundraising

Most literature on business planning focuses on the need for a plan to encourage external investment into the company, whether it is through loans or equity investment. Most funders will not consider putting money into a company without seeing a well-written, convincing business plan. An entrepreneur must make sure the plan speaks in terms the funders will understand, and meets their requirements for the qualifications of the management team, funding requested, and financial return.

» Read more: The Importance of a Business Plan For Entrepreneurs