When you start a business, there are 1,001 things on your to-do list. At this point, you’re not quite sure if you’re good at multitasking, or bad at concentrating…
So where does making a business plan come on your to-do list?
If the answer is ‘somewhere near the bottom’, then making it a priority is a good idea and here’s why:
- Plan for the future
- Support business growth
- Secure funding
- Manage cash flow
We’ve helped thousands of entrepreneurs get their ideas off the ground – providing support through both mentoring and funding. We make sure all of our loan applicants have a solid business plan in place – either already or by helping them craft one with the help of a dedicated mentor. This gives their business structure, a clear strategy, measurable goals and a clear growth plan for the best chance of success.
So if you are thinking that now is the time to make time to put together a business plan, here are 10 mistakes we see people make all the time with their business plans – so be sure to avoid them!
Infographic Credit: bplan4u.co.uk