What is a Business Plan?

What do you want to accomplish with your business? Why are you setting it up? What product or service do you think you can win with? How do you plan to get from vision to reality? That is what you put into your business plan, which is a document explaining everything you plan to do and your steps for getting there.

What you’re doing when you write a business plan is putting your strategy down on paper. Today, you have an idea – but you also have talents and abilities, and you have some resources to put toward the task at hand. Think three to five years ahead – what will your business look like? Your abilities and resources will have expanded – and you’ll have profits rolling in. The plan shows your blueprint about how to get there.

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