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Creating a business plan is one of the most important steps you will take because the plan serves as your road map for the early years of your business.The business plan generally projects 3-5 years ahead and outlines the route a company intends to take to reach its yearly milestones, including revenue projections.
Read about the finance options available for businesses on the Business Finance Guide website.
It can also help to convince customers, suppliers and potential employees to support you.
During the step-by-step process, this tool will update the status of your business plan.
Once you save your information and move to a new section in the business plan, a checkmark will appear in the numbered section menu at the top of the screen denoting when each section is complete.
All of your information entered into this tool can only be viewed by accessing your account using the password you have specified.
Not only can you save your plan as a PDF file, you can also update it at any time, making this a living plan to which you can often refer.
You can also use your completed business plan to discuss next steps with a mentor or counselor from an SBA resource partner such as SCORE, a Small Business Development Center (SBDC) or a Women's Business Center (WBC).
Complete each section of SBA's Business Plan Tool at your own pace.
It helps them focus on their distinctive identities within a competitive market, sharpen their focus on their intended audience, and strategically tailor their product and service offerings to match this audience.
Many new businesses make the mistake of jumping into all tasks with vigor and enthusiasm but without planning and strategic prioritizing.