The Right Business Plan

I remember many years ago I decided to open a business, while I was in my first year of college. At the time I was in the middle of a small business class and we were talking about organizing a business and specifically about business plans. I really thought I had a handle on this writing thing and would be able to crank out a plan that was investor ready in no time. After three months I realized that I really didn't know the first thing about preparing a business plan and honestly to this day that first plan is still not completed. Since then I have written hundreds of plans for all different businesses and industries. 

As I look back on that experience I realize that I really didn't have the right mindset to complete that plan. I have a fear of failure, which was causing me to stall each time I would sit down to write. I find that many new business owners feel the same way or just realize that they don't have the competencies to complete their own plan and wind up not moving forward with the project or moving forward without having planned out the process. It is very important that businesses prepare or have prepared a plan that can be easily implemented by management. Unfortunately, 70% of businesses begin operation without a business plan and consequently nearly 50% of businesses discontinue operations by the fifth year. Although, there are many factors in a businesses closure there is a simple correlation that can be drawn between planning and business success. 

If you are one of the many new businesses getting ready to start a new business project make sure that you consider using a business plan. And if you are like me and find yourself unable to prepare the plan yourself then make sure that you go to http://www.solutionbusinessplans.com for information on getting your plan prepared.