The truth about me.
Nov 23, 2006
Posted by Tris Hussey (0) comments
Small businesses that need very little capital to get started rarely have a business plan in place. This is because the owners do not see any need to go to this trouble when they don't need to borrow funds. Just like you use a financial planner when you make investments, you can also use available expert advice to help you get started with writing a business plan. The most common type of business plan for small businesses is the start up plan, but there are other types, such as a feasibility plan or an investment plan.
The most common mistake that small business owners make with their business plans is putting them on the back burner. They never seem to have time for this important aspect of business and are always looking for ways to grow their business instead. Many businesses only sit down to write a business plan when they are forced to look for expansion funding and find that lenders won't even talk to them about borrowing without one. There is no such thing as being too busy for this part of the business because it is one of the essential elements.