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Business Plan Checklist...
Most Frequently Asked Questions.
I've Had My Own Business For Years, Why Do I Have To Have A Business Plan To Get Funding?
Funding is an investment, whether it's a bank investing through a loan, an individual investing through a loan or an agency or organization investing through a loan. While an initial application can determine if you're able to pay back a loan, a Business Plan can be used to determine if you are biting off more than you can chew (so-to-speak).
If I Have A Business Plan, Do I Send It Out Like A Resume'?
A Business Plan sent without a specific application does no good. While few people realize it, a resume' sent out without a specific application does no good as well. Like a resume' has to be sent to entities that are hiring skills like yours, a Business Plan needs to be sent to entities that are funding businesses like yours.
How Many Pages Should My Business Plan Have In It?
There are no set amount of pages to a Business Plan. However, the more information you can include in the least amount of pages is the general rule. You want your information to flow freely and not be crammed onto the pages but you also don't want your Business Plan to read like a phone book.
Is There Any Funding That You Can Get Without Having A Business Plan?
There are many funding sources that do not require a Business Plan, however, every business needs a Business Plan whether a funding source requires it or not. A Business Plan is more for your business than for other people. A Business Plan helps a business control start-up costs, build a customer base, prepare for growth, track success and helps in many other functions. A Business Plan lets you know what you are trying to accomplish and whether or not you accomplished it. So whether or not a funding source needs you to have a Business Plan, your business needs you to have one.
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