Business Plans

1. Effective business plans are not essential for every company.

An effective strategy can be helpful in achieving goals and objectives whether a company is small or large. Acquiring outside funding can depend on the effectiveness of the overall project. An organizational strategy must be complete and comprehensive if a company is seeking capital for expansion or start up. A well drafted document will help provide basic components to make good decisions in setting and achieving company goals.

2. Small business plans should be at least one hundred pages.

Small business plans should be focused and precise. For example, a one hundred page plan is too extensive. An effective plan about forty pages in length is usually sufficient to adequately describe the marketing plan, the organizational structure and the needs of an organization. Main considerations are marketing and financial objectives. Lay out how you will reach potential customers and where financing for these ideas will come from.

3. A consultant can be hired to write business plans.

There are certain consultants that specialize in writing small business plans. Consultants can usually do a great job preparing a professional document customized for your company. Keep in mind, however, that you need to at least understand what they have written out for you since you are the one who has to achieve the organizational goals. It is likely that the consultant will have multiple meetings with you in order to fully grasp the idea of what you hope to achieve by starting or expanding a business enterprise.

4. Many websites are dedicated to helping companies formulate small business plans.

Some websites offer sample templates, information and tutorials. Software is also available to assist the writer of a blueprint with ideas and formats commonly used. Certain types of software walk the writer or company owner through the creation of each section of the draft.

5. Business plans are a way to practice good financial management.

Proverbs 27:23-24 - Be thou diligent to know the state of thy flocks, and look well to thy herds. For riches are not for ever: and doth the crown endure to every generation?

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