Why Have A Business Plan?

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.

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.

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.