Why do I need a Business Plan?

It never ceases to amaze me how many small business owners do not have a business plan. Many do not even have a financial plan! There is an old saying "if you don't know where you are going you will probably find it!" Unfortunately, what they find is not what they want. If you are in business you need to have direction and clear objectives and strategies. Your plan doesn't have to be a bound "war and peace" volume. A specifc one page action plan can help kick start your business planning. If you need finance to buy a buisness, you will need to develop a business plan for the bank. Remember, it's your money you are committing to your business, so be wise and plan how to use your funds effectively.