Why a Business Plan Is Important

In: Business and Management

Submitted By diuguidg
Words 544
Pages 3
George M. Diuguid
Assignment 1
American Military University

Having a plan, or a strategy when starting a business is essential. There are several different ways to plan or organize the steps necessary in the process. A business plan is the most commonly utilized tool for planning and organizing a new venture. Technology has allowed tools like Google Calendar to provide many benefits in regards to organizing for small businesses. A business brief allows business owners to focus on certain aspects of a business without the confusion of everything else getting in the way. These are just a few of the ways to help organize and plan a new venture, but each has its own unique benefits. Perhaps the most common way to plan and organize for a small business is by developing a business plan. Planning is one of the most important parts of running a business, no matter whether it is a large multinational corporation trying to plan an expansion or a small business launching an exciting new product (Topfer, 2011). This plan can be used as a guideline and benchmark for any business including small businesses. The business plan will outline virtually every key aspect of a business, from operational organization, market analysis, and even finances. Having a written plan in place will surely help in organizing and planning for a new venture. Another way to help organize a business, and help with planning would be to utilize a functional calendar such as Google Calendar or Microsoft Outlook. These calendars can be accessed by anyone you desire, and from almost anywhere at any time. This can be a great communication tool, and helps with planning and organization. A business owner can put anything they desire on that date on the calendar, which well in turn help keep them on track and ensure nothing is missed. Lastly, a business brief, or short version of a…...

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