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Business Plan FAQ

Q. Why do I need a business plan?

A business plan is often the entry-level requirement to getting government money, investor capital or bank loans. Although, you may have a complete picture of the business in your head...

Q. I own a tiny, local company as a sole-proprietor. Do I really need a business plan?

That depends on the fact if you need to raise any capital or require investors. If no capital is required a business plan may help...

Q. With the fast pace of business, how can a business plan be helpful if it is quickly outdated?

In today's breakneck fast-paced business world, the only answer to outdated business planning is BPM or Business Plan Monitoring. BPM is primarily set-up for...

Q. If business plans are so important why do so few people actually write one?

It is in human nature, to put things off and procrastinate. It is a challenge for many business owners to put their assumptions on paper and risk...

Q. What are the sections in the business plan outline and which are most important?

Listed are the following sections in a standard business plan outline:

Q. I don't have a management team in place, what can I put in this section of my business plan.

The management team is critical to a solid business plan. If you don't yet have the funds...

Q. Should I use business planning software?

Business-planning software can help you organize your plan and guide you through the process. The big cautionary note...

Q. Should I hire a business plan consultant or writer?

Business plan consultants can be valuable in aiding you to complete your business plan.

Q. How many pages is the typical business plan?

The length of a typical business plan can greatly vary from 10 pages to a 100-page document. It really depends on the...

Q. Do the readers of my business plan need to sign a non-disclosure agreement?

A non-disclosure agreement (NDA) can send up red flags to your intended audience. A seasoned banker or venture capitalist...

Q. What are the most common mistakes made when writing a business plan?

There are many common errors made by inexperienced business plan writers or business owners who fail to see why their plan was not accepted. But on the other side of the table...

Q. How do I start my business plan?

Writing a business plan can be an overwhelming task. These feelings often translate into immobilization or confusion as to how to start the business plan. Starting a business plan begins with the first step...

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