Developing a business plan is a critical step for both new and existing businesses. Not only will developing a plan improve chances for business success, it can also serve as a communication tool for potential lenders in obtaining financing for the business. In addition, a business plan can serve as a management tool and guide for business growth.
The process of developing a business plan is as important as the end result. Going through the business planning process allows the business owner to examine issues such as the market, industry dynamics, and financial feasibility. The business plan is not a static document. Rather, it is dynamic and will change as the business grows and changes.
The ASBTDC offers a variety of types of assistance to new and existing business owners that are developing a business plan.
The thought of writing a business plan can seem overwhelming. For those who are writing a business plan, the ASBTDC offers suggested Action Steps for Writing a Business Plan. These steps are intended to help guide you through the process and point you towards suggested information and tools.
In addition to offering live classes, the ASBTDC offers several online training programs that can be very helpful in the business planning process. Online programs of interest to those writing a business plan include: Crafting A Business Plan, Market Insight and Research, Pricing Strategy and Tactics, Marketing 101, Understanding Advertising and Promotions, Creating Financial Projections.
The ASBTDC offers helpful information and tools to those who are in the process of writing a business plan. A great deal of information is available online.
The ASBTDC provides answers to common questions often asked by those writing a business plan.
Arkansas residents who need additional assistance in answering questions about writing a business plan, contact your local SBTDC office.