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Plans Help Business--Big or Small, Writing is Key

Writing small business plans is as essential as knowing what products or services the business is going to sell or offer. Most people know the value of careful planning, even in things as small as vacations or other one-time events. So, if planning is crucial for the success of an event that wiil only happen once for a period of time, how much more important is it for a business to have a plan to ensure future growth and success? Businesses that do not spend the time writing small business plans are only asking for difficulties, losses, and failures.

Writng Small Business Plans: Some Suggestions

Writing small business plans is a process that should be undertaken annually, not a one-time task that is only completed when first organizing the business. Small businesses have specific, different needs than large businesses, and these needs often require specialized solutions and treatment. When writing small business plans, it is important to be sure that the focus is on a small business and what it specifically requires. Although some people think business is business, this is not always the case.

The first element involved in writing small business plans is identifying the primary purpose for the business. Why does the business exist? What will it offer to the community in terms of products and services? What are its primary objectives? What goals will it set for the future? Although these questions may seem to deal with subjects that will be settled when a business is first being developed, the answers need to be evaluated continually year after year because things will always change. The way businesses--especially small businesses--survive the difficult economic atmosphere is by bending and moving with the change instead of rigidly adhering to goals, purposes, products, etc. that were established at the inception of the business.

The fact that the economic situation will change and the demand for businesses to change in conjunction supports the importance of research, analysis, and evaluation in writing small business plans. Research is one of the most important steps because good decisions cannot be made without a knowledge base to support the wisdom of the decisions. Writers of business plans must research the products and services, consumer demand and the market, past strategies and goals, the effects of past actions, the history of other products or businesses, etc. The more knowledge that is collected means better preparation for future decisions and more material to analyze and evaluate.

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