If you’re looking to raise capital — whether a bank loan, invoice factoring or equity venture capital — you will be better off with a business plan. The business plan is necessary for attracting and convincing investors but it’s also an operational document to guide your company on the path to achieving its goals.
Growthink’s 2008 Business Plan Guide is a free resource that provides tips and advice on the business planning process. Since 1999, Growthink has developed successful business plans for more than 1,000 growing companies. The guide shows how to prove the feasibility of your venture, develop your business strategy, and prepare your plan for investors. It also defines the particular sections of the business plan, plus identifies key factors to include, such as highlighting past accomplishments, overcoming barriers to entry and using marketing studies to show a clear understanding of customer needs.