I used to listen to my dad’s advice when I was a little girl. In such situations, one may need to develop two versions of the business plan: a stripped-down plan that can be used to develop a relationship and a detailed plan that is only shown when investors have sufficient interest and trust to sign a Non-disclosure agreement.
Writing a business plan may seem like a big hurdle, but it doesn’t have to be. You know your business—you’re the expert on it. For that reason alone, writing a business plan and then leveraging your plan for growth won’t be nearly as challenging as you think.
The BFTP has four regional headquarters and six satellite offices to help both startups and established businesses access the capital, expertise, and resources to foster innovation and growth in Pennsylvania’s technology and manufacturing industries.
Business plans typically include detailed information that can help improve the business’s chances of success, like a market analysis, competitive analysis, customer segmentation, marketing, logistics and operations plans, cash flow projection and an overall path to long-term growth.
However, as such a crucial piece to your overall business plan, you’ll want to be sure it contains all the necessary details, is well-researched, and will show readers that you’re knowledgable about your specific market and your business’s role in that market.