Think a business plan is just for a brand new business or practice? Think again. Established organizations use business plans to set new strategic goals; delegate financing to various projects; review previously set goals and make necessary adjustments; capitalize on opportunities; mitigate threats; address changes to the organizational hierarchy; improve company and HR policies; and many other purposes. An updated business plan can help hold you, your shareholders, and your managers accountable to the organizational mission and strategy, as well as be used for more practical applications such as securing financing for an expansion or new project. There are countless benefits to going through the motions and getting an updated, well-written business plan on paper – even for an established business. If you are currently in the growth phase of your business, or have stagnated and want to jump-start the growth phase, we can consult with you and coach you through an updated strategic business plan to put you on the growth track.
Of course, new or conceptualized businesses also benefit from a business plan to show investors and shareholders the business owner’s idea for how the business will operate and what kind of return-on-investment (ROI) they can expect. A formal business plan can show a bank or other financial institution the value of providing a line of credit to the business, and how the business will use the available funds. If you are thinking of starting a business, or have recently started one and want to protect your investment, we can help coach you through the business plan writing process to put you on the road to success.