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 a plan.
Business plans are
inherently strategic. You start here, today, with certain resources and
abilities. You want to get to a there, a point in the future (usually three to
five years out) at which time your business will have a different set of
resources and abilities as well as greater profitability and increased assets.
Your plan shows how you will get from here to there.
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