References 2. Try to think of it, not as a document, but as a living, breathing process that grows as your business grows.
While we encourage you to use this template, it is not mandatory and you are welcome to submit your own Business Plan template provided it details similar information. Once you save your information and move to a new section in the business plan, a checkmark will appear in the numbered section menu at the top of the screen denoting when each section is complete.
Why is a Business Plan important? Allows you to measure your progress as you go along.
Since you may not have the full picture until after you have compiled the plan, it is usually best to write this page last. Not only can you save your plan as a PDF file, you can also update it at any time, making this a living plan to which you can often refer.
But a business plan is more than that, it plays a functional role in your path to success.
Not only does it demonstrate that you have a clear roadmap for growth, backed by research, financial data, and product strategy, it will also ensure that your lender matches you to the right loan program, based on your needs, goals, and financial projections. Some time with your accountant can be invaluable at this stage.
A well thought out plan also helps you to step-back and think objectively about the key elements of your business venture and informs your decision-making on a regular basis. If you find that you're not meeting goals, you might need to adjust your budgets or your sales forecast.