An architect follows a blueprint. A driver follows a road map. An entrepreneur follows a business plan.
Your business plan is a detailed overview of what your business does, who your customers are, how your operations function, and what your growth strategy is. If you would like to raise capital to finance a planned expansion, then a thorough business plan will be essential to demonstrate to your investors that your business is worth the risk to their investment.
The most basic business plan must address your value proposition: how the company will fill a need of the customer at an acceptable price point. More detailed business plans often include an environmental analysis, competitor analysis, target market analysis, and marketing plan.
Mardesco will work with you to develop the most appropriate business plan for your situation; keeping in mind your scale, competitive environment, sales targets, capital requirements, and other factors. Contact us today for a free initial consultation.
The other side of business planning
Authors Jason Fried & David Hansson of 37signals deride business plans in their best-selling book “Rework.” Nonetheless, business plans have an important role to play in the development of your business. They serve as a blueprint for how your company will run, and describe what it is that you intend to do. Most importantly, a business plan is essential if you intend to raise capital from investors. (Note that Fried & Hansson also deride the idea of raising capital, and encourage you to get by with what you have. If you can start a successful business with the couple hundred bucks you already have in the bank, that’s great! For the rest of us… a business plan is a necessity.) I think the take-away is that while business plans are useful in forming the basic foundation of your enterprise, the plan is not the business itself. It’s not necessary to totally obsess over your business plan, or update it every day; it’s more important to spend your time running the business than planning it forever.