Write a Business Plan

The first step in starting a business should be planning.  Just as a home builder won’t start a project without blueprints, you shouldn’t start a business without a plan.  Putting together a business plan is something many entrepreneurs dread, but they can be fun to write, especially with the great software that is available today.

While many people only write a business plan because the bank won’t loan them money until a business plan is submitted, the real benefit is getting the ideas out of the entrepreneur's head and creating a roadmap of where they want the business to go.

There are three options to writing a business plan.

1. Write it from scratch - There are a number of free business plan templates that are helpful such as one from the Small Business Administration or our Business Plan Template.

2. Software programs – Software is available to provide guidance in developing a business plan. These programs provide guidance and samples from hundreds of industries to jumpstart the writing process.  A few popular programs:
LivePlan 
BusinessPlanPro

3. Hire a business plan writer - We recommend that the entrepreneur write their own plan as no one will write a business plan as well as the owner, but sometimes there isn't time to get it all done.  Expect to spend $1,200 - $3,000 for a quality plan.  

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