A well-written business plan can help convince investors or lenders to finance your business.
After you complete the 11 worksheets, you will have a working business plan for your startup.
For these reasons, the Deluxe Corporation Foundation provides financial support to nonprofits that help entrepreneurs and small business owners succeed.
Our grants to SCORE have totaled more than $1.5M in recent years, with the majority of these funds supporting the creation and updates of online training and certification for SCORE mentors.
Moreover though, a solid business plan is a living document that will continue to guide your efforts as your business grows.
Recently, I shared 18 Mistakes That Kill Startups, an infographic created by Mark Vital over at Funders and Founders.
It should be an easy-to-read overview presented concisely.
Don't forget to say what you want - a business loan, equity investment, or perhaps to plan a sound exit scenario through a business for sale platform; how much money you need, and how the investment pays back for the business owners.
A lot of those mistakes (most of them, in fact) are the result of poor planning.
Bad location, a marginal niche, having no specific user in mind, raising too much or too little money--all of these issues can be prevented or at least mitigated with good planning.