A well-written business plan will provide a pathway to profit for any new or existing business. Your business plan will also provide the documentation that a lender or investor requires if you find it necessary to seek outside funding sources for your business.
This chapter is designed to give you some background information and guidelines to consider prior to writing your business plan.
Why do you need a business plan? If you need access to additional capital, what does the lender or investor need to know? What are the key words that make your plan more effective? How do you develop an exit strategy? What do the numbers come from in your financial plan? These questions will be addressed in the following pages.