Why You Need a Business Plan

The most effective business plans are dynamic documents that evolve as your business grows and changes.
STARTING A BUSINESS

• Turn your ideas and capital into a viable business
• Secure financing from lenders and investors
• Identify strengths, weaknesses, opportunities, and threats

MANAGING START-UP BUSINESS

• Communicate your vision to your employees and external parties
• Develop accurate financial forecasts
• Compare planned versus actual performance

GROWING YOUR BUSINESS

• Raise capital to expand
• Create a strategy to manage growth
• Take advantage of opportunities and mitigate risks

EXITING YOUR BUSINESS

• Develop a plan to transfer ownership. sell your business, or close your business
• Establish a timeline for the transition process
• Identify financial and regulatory requirements