Why write a business plan? It helps to organize your thoughts on paper and forces you to think about strategies you may not have considered. For example, what is your target market? Where are your customers located? How do you intend to market to customers and how much will that marketing cost?
Business plans also require you to formulate financial statements so you'll have a better idea of how much it will cost to start and maintain your business. Remember that a business plan is a living document and should be updated as your business grows. In addition, most (if not all) lenders will require you to have one in order to receive a business loan.
Several organizations in Colorado assist entrepreneurs with writing business plans:
- Denver Metro Small Business Development Center (SBDC)
- Rocky Mountin MicroFinance Institute (RMMFI) (they also do small business lending)
Sample plans to peruse:
- Denver Public Library database access (with library card) to the "Business Plans Handbook" (collection of actual business plans compiled by entrepreneurs seeking funding for small businesses--scroll down the list on this website and click on the title) Note: DPL also assists with research required for your plan.
- Free sample business plans from BPlans.com
- Business plan requirements for gap loans from City
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