who start companies with a completed business plan:
- 36% obtained a loan.
- 36% received investment capital.
- 64% grew their business.
Of the people without a business plan:
- 18% obtained a loan.
- 18% received investment capital.
- 43% grew their business.
We’ll discuss the financial aspects of launching your startup company shortly, but clearly, you need money to start and operate a new business.
A proper business plan gives you a significant advantage.
So how do you make a business plan?
In simple terms, a business plan is the written description of your company’s future.
You outline what you want to do and how you’re planning to do it.
Typically, these plans outline the first 3 to 5 years of your business strategy.
The business plan needs to be the first thing on your list because you’ll use it to help you with some of the remaining steps.