Like a pitch deck, it it’s good enough it can be sufficient to get lenders and investors to choose to work with you, and work through the details in the process.
The big problem with business plans is that entrepreneurs often get bogged down in them.
This is especially true for those considering funding that involves commercial real estate or a SBA loan.
This is a brief 1-3 page document that sums up your business and plan, and gives viewers enough info to decide whether they want to see any more data or not.
Just don‘t let this part of the process slow you down.
No matter how you do it, and who you’ll show your plan to, make sure to have someone with experience review it for you."Business plans have long been a critical document for new businesses. If so, what best practices and data can help you create a winning document that will help your business get the funding you need and ensure your venture lasts?
SCORE offers fillable worksheets covering these key pages in your business plan for your startup business: Summary A business plan still plays a critical role in launching a profitable and sustainable venture today.
New trends and the data show us that the best time to complete a robust plan may now come later in the journey than it used to.
Before deciding exactly what that looks like and how to create it, there are some critical questions to answer and factors to understand.
Just because it is the status quo should never be a line in the vocabulary of a startup founder today.