Business Plans...

Business Plans come in all shapes and sizes. Depending on the need, preparing a Business Plan can take as little as a day or up to several months.

Business Plans are important for all companies, no matter their size, as even the act of preparing the Plan focuses the minds of owners and management on what they wish to accomplish, their state of readiness, their strengths/weaknesses and chances for success, and potential hazards.

A Business Plan is not only a vital management tool, but also an essential investment document. Typically, before investors (both debt and equity) commit funds to a project, they will want to see a formal Business Plan in order to ensure the company has a valid understanding of the industry, the market, and the niche in which it will be operating.

A Business Plan is considered so critical to a company's chance of success that Canadian Provincial and Federal governments may not only require that one be completed before they will support a project, but may also underwrite the cost of having one prepared.

There are many sources of good information on Business Plans. Excellent books and on-line assistance are available that explain the content and style of different types of Plans. The outline below is an example of a typical Plan.

Do not forget to include a SWOT-type analysis. Wots that you ask? Call or email.