What Is A Business Plan?

The most important reason for writing your business plan it to create an essential business management tool. A well thought out plan will give you an understanding of your business strengths and weaknesses, enabling you to identify present and future potential. Your plan also helps future investors understand your business goals to obtain financing from your family, friends, investors or a bank. 

If you live in Los Angeles visit the Small Business Administration for more information and to get a FREE consultation.

Do I Need A Business Plan?

Absolutely! Lenders need to see a business plan for traditional term loans and SBA loans. And even if your lender doesn’t specifically require your business to submit one, or you do not need a loan, it’s a good idea to prepare one anyway. Get started at Small Biz LA they have examples, templates and more, I’ve pasted links to some of their documents below.  

Business Start Up Checklist

A checklist of the basic areas you need to cover before opening your business. It helps an entrepreneur think about the costs associated with starting a business and show banks that you are serious about your idea. A business plan is like a roadmap. It allows you to plan out the various aspects of your business on paper, and keeps you from making unnecessary mistakes later on.

Business Plan Outline

A simple, one page outline that you can utilize to complete a rough draft of your business plan from LA SBDC. It will also help you craft a document that presents your company in the best light for lenders, investors, employees and serve as a tool for managing the business.

Business Plan Guide

What is a business plan? A business plan is a written document that describes your idea for a product or service and how it will make you money. It includes your marketing plan as well as estimates for revenue, expenses, and how to make a profit. Utilize this more detailed guide to develop a concrete business plan of your own.

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