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The business plan generally projects 3-5 years ahead and outlines the route a company intends to take to reach its yearly milestones, including revenue projections.A well thought out plan also helps you to step-back and think objectively about the key elements of your business venture and informs your decision-making on a regular basis.
We've printed it out a dozen times and shined and polished it.
For the purpose of financing, you may add certain sections to your business plan, including background and historical information about the business and a description of the management team leading the organization.
"Show investors how they are going to make money," Berry says.
Not only can you save your plan as a PDF file, you can also update it at any time, making this a living plan to which you can often refer.
You can also use your completed business plan to discuss next steps with a mentor or counselor from an SBA resource partner such as SCORE, a Small Business Development Center (SBDC) or a Women's Business Center (WBC).