for Business Planning
The business plan is your pathway to profit.
It can mean the difference between success and failure. A business
plan with goals and actions can guide you through turbulent economic
times with alternative channels, which you can fall back upon as
Through the development of a business plan,
you will be able to identify your areas of strengths and weaknesses
and spot opportunities and threats, which may loom on the horizon.
You will review the competitive conditions of the marketplace and
isolate opportunities and situations that seem advantageous to your
The business plan will communicate your understanding
of the industry in which you operate, the competitive situation
you face, the capability of your management, the suitability of
your location, and the capacity of your particular business. It
will make reasonable assumptions and forecasts of your expectations
concerning sales, expenses, cash flow, and goal attainment.