Business plan

SBDC PA Network Celebrates National Business Plan Writing Month

This is the time of year to make a list and double check it… to make sure your business preparation will be enough.

December is national business plan writing month. The month-long celebration was created to help potential and current business owners, young and old, stay organized, prepared and keep their business running smoothly.

If you have a great idea for a new business, don’t wait to make a New Year’s resolution. To get to work after the calendar shift, decide to spend December formulating a business plan. As important to potential success as your initial spark of inspiration, a plan acts as a roadmap, helping you avoid pitfalls and accelerate your career.

Why is this important? Here are five main reasons:

  1. It forces you to look at your business in its entirety.
  2. The plan becomes a management tool for your business.
  3. It demonstrates to others your goals and objectives.
  4. It serves as the basis for your funding proposal.
  5. It creates a yardstick by which you can measure and evaluate change.

There are nearly 32 million small businesses in the United States, including more than one million in Pennsylvania, according to the US Small Business Association. If you want a chance to compete with established entities, or if you hope to build on past successes, outlining your aspirations is a must.

The essentials of a good business plan include an executive summary, market analysis, business description, management and organizational structure, list of services/products you plan to offer, marketing plan, funding request and financial projections.

The Pennsylvania Small Business Development Center Network (PASBDC) offers free, confidential advice to help you develop your business plan. Find your local center at pasbdc.org/centres to book an appointment for help.

Keep your friends and followers informed of your progress with the #WriteABusinessPlanMonth hashtag on social media.

In this season of giving, don’t forget to treat yourself to something.


Source link