Creating a Successful Business Plan - Part 1 of 8

Business planning is about determining your business future. Planning expert Tim Berry explains how to develop your plan as a strategic road map for your business. Duration: 2:15

In Series: Business Planning Webinar

  1. Creating a Successful Business Plan - Part 1 of 8
  2. The Three Parts of Your Business Plan - Part 2 of 8
  3. Crafting Your Business Strategy - Part 3 of 8
  4. Developing The Business Plan - Part 4 of 8
  5. Doing the Numbers in Your Business Plan - Part 5 of 8
  6. The Art of Business Forecasting - Part 6 of 8
  7. The Core Value of Business Planning - Part 7 of 8
  8. Business Planning Resources - Part 8 of 8

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Business planning is about determining your business future. Where do you want your business to go? Where should it be in three years? And what are the steps to get there? You might even stop this tutorial, put on pause, and write some key points down. This is your future. This is your business. What should happen? What are you real goals? This is also a good time to talk to your people, get ideas, brainstorming. Where are you going and why? That's what your plan is going to be about.

Your business plan will be your story, your words, your numbers. It's about your business. True, many people avoid doing a business plan until they're starting a business or raising money, need to go to a bank, need to get outside investors. But really, every business ought to be planning. Just like you want to determine your future, you want to determine your business's future too. And that's what your business plan will help you do. You can do your own business plan. Outside experts might be great if you have the budget, but you don't need to be a CPA or an MBA to work out the details, priority, and strategy of your own business.

You know your own business better than anybody else. You are uniquely qualified to do your business plan. And as you do that, remember, plans always change. Don't think that you have to know now exactly what's going to happen six, nine, twelve months from now. No, the point of getting the plan into place is then you'll be able to manage the change; correct your course as needed; know where you were supposed to be, where you are, and why they're different. Business plans always change. The plan is never going to be right. It's going to be a tool for keeping your business development right.

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