“Business is never so healthy as when, like a chicken, it must do a certain amount of scratching around for what it gets.”
~ Henry Ford
In continuing with this week’s theme about the importance and benefits of business planning, today’s business plan benefits are as follows:
- To plot your course and focus your efforts. The business plan provides a roadmap from which to operate, and to look to for direction in times of doubt. Without a business plan, you may shift your short-term strategies constantly without a view to your long-term milestones. You wouldn’t go on a long driving trip without a map; think of your business plan as your map.
- To attract partners. Partners also want to see a business plan, in order to determine whether it is worth partnering with your business. Establishing partnerships often requires time and capital, and companies will be more likely to partner with your venture if they can read a detailed explanation of your company.
- To position your brand. Creating the business plan helps to define your company’s role in the marketplace. This definition allows you to succinctly describe the business and position the brand to customers, investors, and partners. With the industry, customer and competitive insight you gain during the business planning process, you can best determine how to position your brand.
You can too…
Over 100,000 entrepreneurs and businesses in 57 countries have purchased my business plan template.
They’ve used it to quickly and easily create their business plans and…succeed!
They’ve raised funding. They’ve grown sales. They’ve turned ideas and small businesses into large, thriving ones.
You can too.
Previous Question: In 2010, which company reportedly bought the domain name of the American Farm Bureau Federation for $8.5 million?
Answer: Facebook (the domain name was www.fb.com).
Facebook paid $8.5 million to acquire the Internet address ‘fb.com’ for internal use by its employees from the largest U.S. farm group.
Is your personal or brand name available in a .com domain? Even without a website yet, you can lock up that online real estate until you’re ready to use it.
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