Whether you are starting your business, taking it to the next level, or ready to retire, you need to prepare for the future management of your company.
Develop a Business Plan
A good business plan is essential to formulate your business, obtain financing, attract and retain key employees, identify and attract strategic alliance partners, and to speed your company's growth. There are many reasons to having a business plan including:
- creating a clear mission and vision,
- testing out a new idea,
- creating an assessment of company's strengths and weaknesses, etc.
These resources will help you develop your plan:
- Washington DC Economic Partnership offers advice on business planning.
- University of Colorado Center for Entrepreneurial Excellence offers business plan templates.
- American Express Open Forum on business planning.
- New England Business Services will guide you through a free interactive online business planning tool.
- Inc.com also has interactive tools to build a business plan.
Planning for your business to function without you is a step toward successful business growth.
- The Wall Street Journal Center for Entrepreneurs helps you create a succession plan. Find out about four essential strategies for developing a workable and successful plan.
- Center for Simplified Strategic Planning provides information on various business strategies. Visit the site to read about the benefits of succession planning and the pitfalls to avoid.