Business Planning is continuous process that is not limited to start-ups, it is an important element of every successful business.
Is developing a Business plan for an existing business different than developing one for a start-up?
The process of writing the business plan is the same for both, however, existing businesses have one fundamental advantage, when planning for an existing business, we have the ability to draw upon previous performance results and understand what works and what doesn’t.
When planning for a new business start-up, you rely mostly on research and make educated guesses and forecasts, where in the case of existing businesses, in addition to research, you have a wealth of historic information within the business that you can use to make future decision making.
Benefits of business plan writing for small businesses
So you’ve got a business up and running, you deliver awesome products and services and attract profitable clients, you may ask, why do I need a business plan?
The business environment is continuously changing, customer needs are evolving, new competitors are entering the market and existing ones are changing their strategies, new technologies are affecting how you do business and how your clients are using your products/services.
All these and more can affect your business, and if you don’t react quickly to market changes, you stand the risk of being left behind.
A business plan helps you business to:
- Establish clear short and long term goals
- Assess the current situation realistically
- Anticipate market changes and be proactive
- Identify strategies for growth and capitalize on opportunities
- Refine your product or service offering according to market changes
- Stay aligned with customer needs
Need a business plan for your small business?
I would be happy to help you with business planning needs.
- Fill in the form to Request a Quote.
- Tell me all about your great business and how I can help you make it even greater.
- I will get back to you shortly with information on availability, pricing, timing and how to proceed.