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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.
Creating your business plan is more than just getting your ideas down on paper for potential funders to see.
It's an exploratory process in which you can evaluate your options, test your assumptions about your idea, and even discover new opportunities.
Some funders are going to want to see a lot of detail, but you can provide that in appendices.
The $100 Startup, the website for the best-selling book of the same name, has a ton of stripped-down resources for entrepreneurs, including this super simplified business plan template.
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.
The Refining the Plan resource that comes with it is helpful, especially if this is your first crack at writing a business plan.
The SBA's template is available to fill out online and then download as a PDF.
A business plan is a written description of your business's future, a document that tells what you plan to do and how you plan to do it.
If you jot down a paragraph on the back of an envelope describing your business strategy, you've written a plan, or at least the germ of one. You start here, today, with certain resources and abilities.