Make a business plan for your Goals By Carl Hirschmann

Business plans are for those who plan to go into business or are in business already. Starting a new business also needs planning, time management, scheduling and organizing to make it a success. Business plans are made so that there is some direction to your work and you don’t go “off-track”; get bogged down with details that can wait etc.

Before you create a business plan you have to plan the plan. The plan has to take into account your goals and objectives, where you want to be, say, 3 years from now, what steps have you thought of to get to that goal, etc. This is more so if you are starting a new business. There are many decisions to be made like your business strategy down to the color of the paper. You will be accountable to the business plan you present so you have to be very clear about what your plan is going to say and how.

Basically, there are four types of plans, the mini-plan, the electronic plan, the working plan, and the presentation plan. Each has its own pros and cons. Carl Hirschmann is skilled in strategy, fundraising and business planning. Key issues have to be addressed in all types of plans and these would consist of
A business concept, Specific financing needs, A marketing plan important financial statements, especially regarding cash flow, income projection, and balance sheet.

Your business plan would depend on the type of business you have decided to do. You have to consider issues like

Is there going to be a partner or investor?

Are you considering expansion?

These are some issues; there are others which would depend on your individual requirements.

Is the plan going to help you raise money?
Will it help bring in talented employees?
Will it double as a presentation plan which you show to suppliers or prospective clients?

After these issues are addressed one will get an idea of whether the business venture you have decided on is going to be viable or not. It is not unknown for a business to end at the planning stage because the assumptions were not up to the mark.

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