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Why get a business plan?

Business plans are most commonly used to help new startups. It is also wise to prepare a business plan for existing businesses when expanding, acquiring new units, or to improve existing operations. Having a business plan gives you the power to preemptively identify problems and therefore proactively prevent, avoid, or work around them. Ultimately, like any plan, it will let you know what to expect and how to react.

Ok, I got my custom business plan. Now what?

Put it to good use and get down to business. Your business plan will serve as:

  • A Reference Point
    • Planning a business will involve a lot of preparing for the unpredictable - whether it's market conditions, sales, profits, or expenses, your business plan will involve future projections. As time passes on your mission to turn plan into action, these projected numbers will act as mental markers which can be used to help assess and adapt. Referring back to your original business plan and comparing your current situation will help you get a feel for how close you are to your goals and precisely what changes you may need to implement. Actively reflecting on where you are and where you need to be is the best way to ensure progress. This will also help you better understand how you may need to pivot your business to avoid obstacles and reach your goals.

  • A Guiding Compass
      Any business will involve change, adaptation, and pivoting. You should think of your business plan as a compass. Without one, it's easy to get lost and end up in the wrong direction. Throughout your journey of building your business, you will find it useful to consult your business plan to ensure you're headed in the right direction as originally planned. At the same time however, it is important to not become too rigid in following your business plan - stay flexible and adaptive.

  • A Way to Gather Investment
      You know your business inside and out, but others (potential stakeholders) will need help understanding it before they jump on board. Venture Capitalists and Angel Investors will want to get to know you and your business through your business plan because it carries vital information (e.g. financial projections, valuations, objectives, profitability, return on investment) and it shows them that you've done your due diligence.

      Don't let a poorly written business plan stand in the way of getting the investment that you need.
      Get started on a professional custom business plan today.

Once you've got everything planned out, it's time to start development.

Someone's sitting in the shade today because
someone planted a tree a long time ago.
- Warren Buffett

Copyright © 2012-2023 Custom Business Plans, LLC. All rights reserved. Disclaimer: Any information provided by Custom Business Plans, LLC is not legal advice, and should not be treated as such. Custom Business Plans, LLC will always strive to provide accurate information, but can make no guarantees of any specific results. Forecasted predictions and estimates should be treated as such. Any actions taken based on information provided by Custom Business Plans, LLC is at the sole discretion of the action taker, and Custom Business Plans, LLC cannot be held responsible for these actions or any resulting consequences.

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