Creating a business plan should be one of the first tasks you take on as a new business owner.
The plan solidifies your research that shows your company will succeed and gives you a sound document to present to interested investors.
Long holds a Bachelor of Science in marketing and business management from Northwest Missouri State University.
A business plan is a written document that details your company's current position and your plans for future growth.
The length and level of detail that you use for your business plan will depend on how much funding you require, and the time and resources you have available to devote towards creating a thorough and professional document.
Your business plan should start with an executive summary explaining the purpose and structure of your company, and outlining what you intend your plan to achieve.
If your company is small and just starting out, these might include other companies you work with to handle some operations.
Include sections on hiring employees, what your overhead will be and how much capital you need to run your business.
The plan is meant to be a living document and should be updated at least on a quarterly basis, with new financial reports and future forecasts.
The summary section of your business plan should be written last but appear first in your presentation of the plan.