Feedback Form
Home Features Mastermind Forums About Advertise Blog Network Contact Be An Author

It Takes Planning

It Takes Planning

Entrepreneurs often write me desperate to find out what's gone wrong with their companies. Many times the wrong turn was early on, when they blundered into business without making a plan.

Some companies hit on just the right product or service and find success, business plan or not. But generally, operating a business without a business plan is a mistake. A business plan gives you a blueprint to follow during the life of your business. If you update it frequently, it will tell you when, where and how to implement changes that will make your business more profitable.

Most successful businesses have a business plan, and one is imperative if you plan to raise capital or borrow money from an institutional lender. Investors require a business plan before they will even consider investing in your business. No plan, no capital.

A business plan should contain three basic sections: Administrative, marketing and financial. You should write a business plan when you first consider starting a business.

If you have done things backwards, as many small business owners do, don’t fret. It is never too late to write a business plan. Don’t let someone else do it; write it yourself. Only you truly know your business. Also, by sitting down and writing the plan you will gain more insight into your own business and become a more effective leader.

If your company is already up and running, solicit input on the plan from your key managers and employees. Make sure that you integrate their thoughts into a comprehensive plan with continuity and coordination.

Still feeling inadequate? Take a business plan writing class through your local university or community college's entrepreneurial center. You’ll find additional resources at the library, bookstore or online, including step-by-step books on how to plan a business and sample business plans for various industries.

For $200 (cheaper if you download the eBook), you can purchase Thomson Gale's “Business Plans Handbook,” which includes 24 sample plans taken from businesses in the manufacturing, retail and service industries.





It Takes Planning - To learn more about this author, visit Karen E. Klein's Website.

Like this article? Share it with your friends

Article Feedback
 Article Feedback No article feedback found.
  Leave Your Feedback
article feedback

Article Feedback

To learn more about the Evan Elite Author Program please contact us.

About The Author


Karen E. Klein
(Visit Karen's Website) Karen E. Klein is a Los Angeles-based columnist for Business Week and The Los Angeles Times. She has also written for Newsday, The Chicago Tribune, Newsweek, The Los Angeles Daily News and Sunset magazine.

Karen E. Klein is a Gold author on EvanCarmichael.com
About The Author

View Author Blog
Financially inKleined - A place to link all my business writing and podcasting together, along with occasional comments on the remarkable people I interview and the ideas I'm privileged to disseminate.
Financially inKleined
View Author Blog

View Author Video
View Author Video

Free Downloads


Karen E. Klein's

Complete
List Of
Women-Entrepreneurs
Articles

Name
Email
If you enjoyed this article, get Karen E. Klein's Complete List of Women-Entrepreneurs Articles For FREE!

More Karen E. Klein
No Shortcuts
Ive Got An Idea
A Reality Check
Take the Oath
It Takes Planning
PR Peeves
Another Day Another Rip Off
Diamonds in the Rough
Free Downloads


 
 
 


Evan Elite Authors
Staging Diva  
John Alexander  
Casey Gollan  
Evan Elite Authors

Become An Author
Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details.
Become An Author

Evan's Latest Video
Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media
Evan's Latest Video

Business Opportunities
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"

How to Start An Online Business

Click Here To Learn More
Business Opportunities



Evan's Newsletter
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
Name:
Email:
Evan`s Newsletter

Free Downloads
How to Get a Life Icon How to Get a Life
Exit Interview Document Icon Exit Interview Document
Feed your body, gain a life Icon Feed your body, gain a life
Fitness Sales Success Icon Fitness Sales Success
Website Planning Icon Website Planning
Free Downloads - Complete List

Entrepreneur Tools and Guides
Top 50 Social Entrepreneur Blogs of 2009
Top Social Business Blogs
Top Social Entrepreneur Blogs
 
Top 50 Franchising Blogs
Top 50 Franchising Blogs
Top 50 Franchising Blogs
 
Entrepreneur Tools and Guides

SEO For Africa
SEO For Africa
Gloria Bosompra Tema, Ghana,
Gloria Bosompra
Tema, Ghana
SEO For Africa

If I Were A Startup...
Chris Nguyen, 30+ national clients on $0
Chris Nguyen
30+ national clients on $0
Frank Cianciulli, $2.3 to $7.5 Mil in 2 years
Frank Cianciulli
$2.3 to $7.5 Mil in 2 years
If I Were A Startup... - Complete List

Famous Entrepreneurs
Jenny Craig, Jenny Craig
Jenny Craig
Jenny Craig
Giorgio Armani, Giorgio Armani S.p.A.
Giorgio Armani
Giorgio Armani S.p.A.
Famous Entrepreneurs - Complete List

Entrepreneur Advice
Paul Kedrosky, Venture Capitalist
Paul Kedrosky
Venture Capitalist
Michael Gerber, The E Myth
Michael Gerber
The E Myth
Entrepreneur Advice - Complete List

Popular Articles
(Premium Authors)

     Adding Value to your Corporate Christmas Gift
By Elyse Cabral
     How Promotional Caps became a Fashion Trend
By Elyse Cabral
     Techniques to increase the effectiveness of your promotional marketing during a period of economic downturn
By Elyse Cabral

Have A Suggestion?
Toronto Salsa Classes / Toronto Salsa Lessons Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
Have A Suggestion?

More Evan Carmichael
More Information