The Business Plan
Whether it’s detailed, formal, or a rough draft, it doesn’t matter. What does matter, is that you have a basic idea of a business plan for your said business jotted down somewhere. A well thought out business plan serves as your road map for the early years of your business and helps you recognize the key elements. The three components of a solid business plan include: a clearly defined business model, a financing strategy, and a milestone timeline. Your plan shows you how to get from here to there, in which you’ve increased your assets and profits.
How to Write a Business Plan
There are many more components to the business plan than the three mentioned before. So, if the thought of creating one is overwhelming to you, then consider working with a virtual assistant who can help you with the process. From finding out what’s included in a business plan to professional templates, a virtual assistant will assist you in various aspects of creating your business plan. If you’re up for the challenge, there are plenty of resources available to help you create a thorough business plan. There are millions of articles and templates that will help project the next 3-5 years of operations for your business.
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Other articles in this series:
10 Tips for Startups
MMDM #85 → #1 Managing your Startup Costs and Generating Cash Flow
MMDM #86 → #2 Build your Business Budget
MMDM #87 → #3 Protecting your Assets
MMDM #88 → #4 What is ROI?
MMDM #90 → #6 Gaining the Competitive Edge
MMDM #91 → #7 Contracts, Contracts, Contracts
MMDM #92 → #8 Employees vs. Independent Contractors