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A business plan is useful because it demands that you evaluate the direction of your organization and it if done properly it will reveal many of the obstacles you may encounter. A suitably done business plan will act as a reminder to keep you on track when you become engrossed in the daily activities of your business.

Organizations make business plans for many different reasons but the act of planning itself will improve the odds of success in a business world that is very competitive and constantly changing. Everything may not unfold the way it is written in the business plan but planning is a process that gets your ready for what is to come. Making a plan increases the probability that your company will be better prepared and responsive to future events.

1. Explain what markets you will compete in.

2. What value you will provide customers?

3. What extra value do customers receive when they choose your company over the competition?

4. Seeking funding from Angel Investors typically require your business plan be written differently than if written for a bank.

5. How long do you want to be in business and what is your exit strategy?

Setting your organizational goals and objectives is really about channeling your members energy and focus. Your business plan and mission statement can also be used to motivate the core personnel in your organization. Direction will ensure that each persons actions are channeled in the same direction, with the same outcome in mind.

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