Why Have A Business Plan?

Posted on December 18th, 2017 by The DSWA

Now is the time to start working on your 2018 business plan...
Many ask why have a business plan?

A business plan can either be designed as a formal proposal to lenders when seeking financing, or it can be a written outline that details the strategic plan of your business.

Whether your direct sales business is seeking financing or not, you should create a written business plan.

Why Have a Written Business Plan

Though most home businesses do not require financing, there may come a time when you will need to obtain a business loan.
setting goals
To obtain one, you will need a formal business plan.

Also, in the event of the dreaded audit your business plan proves you are a legitimate business even when working at home!

The formal business plan does not need to be long and complex.

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The Business Plan Should Include:

  • Summary of your business – what your business sells and your business experience.
  • Your business mission statement – why are you in business?
  • Company description – number of employees, structure, team members, and other details.
  • The market – spell out your potential buyers.
  • Sales and promotion plan – how you will be marketing and promoting your product.
  • Financial information – the current state of your business finances and how the money will be used.

The reason all businesses should have a business plan is that it is important to the success of your business. It is your pathway to success....

A road to follow to achieve your goals.

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About the Author

The Direct Selling World Alliance offers four types of Membership, each with customized member benefits to better serve your business and its role in the industry.

Explore the many benefits you will receive after signing up on the DSWA membership page!