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A failure to plan is a plan to fail. Regardless of
your needs for a loan, a business plan, if reviewed by professionals,
will reveal what you know and don't know about your business
venture. How important is that? Oversights and mistakes are
much cheaper on paper than in real life. A business plan helps
owners perform better and avoid pitfalls.
You may be the expert at the nature of your business but the nature of
business varies like our climate.Need help or a business plan outline?Free one-to-one assistance and a confidential review of your plan is available through the organizations listed in the Start Up section. Don't forgo consultation. Before you bring your plan to a bank or other lender, get some qualified opinions.Cut to the chase: This document is about confidence.If someone is going to loan you money, they need a feeling of confidence (see section on Financing) - confidence that the plan is accurate, plausible and executable. If your prospective financers perceive too great a risk, you can be sure they won't be your prospective financers for very long. If you need capital, the importance of preparing a business plan cannot be overstated. As you draft your plan, your strengths and weaknesses will become clearer. Weaknesses in your business greatly increase the chances of failure. And after sufficient review, these weaknesses will be apparent. Treat the business plan as a living document - one which you nurture, learn from, and that eventually brings life to your business. There are as many ways to write a business plan as there are businesses. The next page has an overview of a typical business plan you can use as a guide. Seek samples of other plans as guidance.
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CEDO can review your business plan before you go to a lender. MBDP can help you put your plan together, or sample plans and business plan templates are available from a variety of sources.
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Page last updated July 08, 2010
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