In this edited excerpt, the authors briefly describe just what your business plan should contain, how long it should be and how to know if it's time to write it. A business plan is a written description of the future of your business. It's a document that tells the story of what you plan to do and how you plan to do it. But there are some generally accepted conventions about what a full-blown business plan should include and how it should be presented.
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Maybe you think you don't need a step-by-step guide to writing a great business plan. Maybe you think you don't need a template for writing a business plan. After all, some entrepreneurs succeed without writing a business plan. Does a business plan make startup success inevitable?
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A business plan is a written document that describes in detail how a business—usually a startup —defines its objectives and how it is to go about achieving its goals. A business plan lays out a written roadmap for the firm from marketing , financial, and operational standpoints. Business plans are important documents used to attract investment before a company has established a proven track record. They are also a good way for companies to keep themselves on target going forward. Although they're especially useful for new businesses, every company should have a business plan.