MICOS Group L.L.C

Professional Business Planning Services

 

Now that you’ve decided that you’d like to open a small business, you should put your thoughts down on paper. This way, your business idea is expressed in a plan – a living document that outlines every critical aspect of its operation. This step might sound intimidating, but it’s important. So let’s get started!

Why Do You Need One?

Do you really need to have a business plan?

The short answer is yes.

The importance of a comprehensive, thoughtful business plan cannot be overemphasized. Many factors critical to business success depend upon your plan: outside funding, credit from suppliers, management of your operation and finances, promotion and marketing of your business, and achievement of your goals and objectives.

Some people assume that if they are not going to seek financial support from lenders or investors to open their business that they don’t need to prepare a business plan, but every business should have one. Writing a business plan serves as a roadmap for your venture when you’re starting out. It can help you figure out many key business elements, including:

• What you will need to do to get started and what resources (time, money, etc.) you will need to expend
• What it will take for your business to make a profit and how long that will take
• What information potential customers, vendors and investors will need to know in order for you to market your business effectively

Having your business plan also forces you to think about your business objectively. When you’re done, you will have a more realistic idea of the effort it will require and whether it's a venture you want to pursue at this time.

Don't be intimidated. The process of sitting down and writing out a business plan could spark your creativity and lead you to new business strategies you may not have considered previously. You'll also find that having your business goals written down enables you to refer to them at any time. This will ensure you don't lose sight of your original focus once you do start your business.

• Essential Elements of a Good Business Plan

A business plan will be a work in progress. That's because your business will evolve over time, and be influenced by outside factors such as the economy and local conditions. Even successful business owners should maintain a current business plan to ensure they remain knowledgeable on the elements that can affect continued success.

• Finding a Niche: We Will Make Your Business Plan Stand Out

Trying to tackle a wide market is usually too broad of a scope for any but the largest companies to handle. As a smaller business, it's often a better strategy to try to divide potential demand for offerings into manageable market niches. Small operations can then offer specialized goods and services that are attractive to a specific group of prospective buyers.

• Our Templates for a Successful Business Plan

What goes into a business plan? There is no single formula for developing a business plan, but some elements are consistent throughout all business plans. Our business plans will include an executive summary, a description of the business, a plan for how you will market and manage your business, financial projections and the appropriate supporting documents.
 

            Sample Business Plan
 

Call Now (770) 330-3789 for your Free Initial Consultation & Needs Analysis

 

Business Plan Information

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