Planning Your Business Plan (Part 3)

BusinessPlanThe Business Plan is lookin’ good…but is it complete? There are details you absolutely must include…unless of course your business doesn’t have any customers, products, services, staff, operations, marketing, sales, management or competitors. And if that’s case, I don’t think you have a business.

But you do have a business, and it has all those things I just mentioned. So, at the very least, the Plan must include an analysis of each of those areas. Even better, would be the inclusion of industry trends. Is it growing or getting smaller?

Arguably the most important area would be the financial projections. How do you see your business growing? You need to provide months cash flow and income statement, and annual balance sheets for at least three years into the future. If you can further, even better. Projecting growth five to ten years into the future, with substantiating evidence would be very appealing to a banker.
binoculars
Remember, the Business Plan is intended to show your business in the best light. Pay attention to details, because the investor certainly will.

If you have any questions or comments,
please write them below or email me at Robert@RobertFinkelstein.com.

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