Why write a compelling Business Plan?

 

According to entrepreneur.com, a business plan is a written description of your business’s future; a document that tells what you plan to do and how you plan to do it.

Perhaps you recall the movie Alice in Wonderland, where Alice asks the Cat for directions when she reaches a fork in the road.

 

“Would you tell me, please, which way I ought to go from here?”

“That depends a good deal on where you want to get to,” said the Cat.

“I don’t much care where–” said Alice.

“Then it doesn’t matter which way you go,” said the Cat.

 

This perfectly illustrates the reasons of why you need a well thought-out strategy and direction for your business. Without a business plan, it’s  simply a collection of activities probably leading you into a reactive and ad-hoc way of dealing with things.

The Small Business Administration states, “The development of a comprehensive business plan shows whether or not a business has the potential to make a profit.” By putting statistics, facts, figures and detailed plans in writing, a new business has a better chance of attracting investors to provide the capital needed in order to get started.

There are various templates available that provide you with the key elements you need to consider when drafting your business plan. Bidx provides you with a comprehensive template vetted by professionals that will provide you with a structure of capturing your starting point and your vision of where you want to go.