The two plans should have appropriate connections in all of the important areas, such as: governance, program, human resources, finance, fund raising, marketing/community outreach, administration and other areas. Of course, they will vary in detail, depending on the purpose of the business plan. Do not try to write the plan from first page to last page, as many areas are likely to change over the weeks leaving some of your early information outdated before it’s complete.
When you face uncertainty and you aren’t sure where to go next, your business plan can provide you with the guidance you need. Business planning isn’t just for when you’re setting up – you should keep reviewing and updating your plan regularly. Business planning is an ongoing activity; review plans regularly and update whenever your circumstances change.
Find a good business plan example to use as a starting point to help focus your project. Internal business plans that are reviewed that frequently usually sit in the bottom of someone’s drawer and don’t have any impact on the organisation. As you get further along in your business efforts, you will learn more, gain a better understanding of the opportunities and risks, and make other changes.
If you’re thinking about setting up your own company, getting your business plan right is crucial. And, if you’re still not excited to create your own business plan, hire someone like Cheryl Isaac who can guide you through the process of creating one, or will create one for you.
This is especially important if you hope to secure funds for expansion of your existing business. Business plans appear in many different formats, depending on the audience for the plan and complexity of the business. Visit the Wells Fargo Works for Small Business® Business Plan Center to access a step-by-step tool to create your own business plan.