The benefits of a business plan
A well written business plan will help you clarify how you will achieve business success and give others confidence in your business.
A business plan is a document that describes your business, the market it operates in, its objectives and the strategies you have in place to achieve these objectives.
A written business plan:
- forces you to think realistically, objectively and unemotionally about your business
- leads to questioning of past and future assumptions
- makes it easier to communicate planning objectives and strategies to bankers, partners, employees, financial backers and so on
- helps to ensure that all aspects of the plan are clear and integrated
- serves as a reference point when determining the effects of alternative courses of action on business operations
- allows you to identify any areas where you may need external assistance
- allows you to plan the growth of your business and associated capital requirements.
The Business Planning Guide and Template step you through the process of developing a business plan. You can tailor the plan to meet your own business needs. Both the guide and template are from www.business.gov.au
The Australian Government has developed a business plan app to help you get started. It guides you through the process of creating a solid and well-structured business plan. The MyBizPlan app is available for both AndroidTM and iPad.