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March 2, 2011

Why Write a Business Plan

If you are an entrepreneur who has just started his business there are still lots of things to learn about the ways in which businesses are run. You may think you have it all under control just because you have a great idea that comes to fill a gap in the actual market, but a business is not just about that. There are still very important features that you need to understand. And the most efficient way to understand the difficulties you may run into and the potential problems your company may be confronted with is by writing a business plan.

Click here to download the template for your business plan <==== Most entrepreneurs, even if they have run a company for several years, believe that writing a business plan is useless. You should only do it only if constrained by the financial situation which forces you to seek for external funding. But that is not true. Writing a business plan is essential for obtaining funding. But why is that? Because this is the only way in which you can easily make somebody understand your business idea. But a business plan entails more aspects than just presenting an idea. A business plan offers details about the market, the level of demands for your product, about the qualities of your team, about the type of management you will be using and, moreover, about the financials implied in growing your business. These are extremely important information for entrepreneurs. You may think that you already know all the details implied in these sections of a business plan. But, the one thing experience shows us is that you cannot follow all the details unless you organize them into categories. This is one of the most important and valuable things that writing a business plan can bring – organization. But there are other aspects to it. By putting your ideas down you can also find solutions for the problems that may arise in your management. Don’t forget that management is not about money, but about people. You will have to coordinate a team and bring it to its best results in the best possible way. You need to avoid conflicts and to make everything possible in order to achieve your goals. The most efficient strategy in order to do that is by writing all the strategic schemas down and present them to your employees. When discussing about details they can see you will notice that communication is a lot easier. Another aspect to be taken into consideration is your stress level. Not writing a business plan, especially for a start-up, can bring to the point where you no longer live for anything else besides your company. Start-ups are difficult and stressful and, unless you organize all the potential problems from the beginning, you may find yourself on the edge of a nervous brake down. But, if you can bring yourself to writing the business plan even at this dramatic stage, you can still save your company. Writing a business plan does not only help you find solutions for your company, but it can also do wonders concerning stress release from the subconscious level. You may not be aware of this, but our subconscious remembers a lot more than we would like it to. Writing the stressful elements in an organized manner that can lead you towards solutions will immediately detention your mind and will help you gain a new positive focus towards your business. Click here to download the template for your business plan <==== So, even if you seek to raise capital from angel investors or venture capitalists or if you just want to develop a small company on your own, you should always keep in mind the fact that any business will run better and will have more efficiency if it is based on a professional business plan.

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