Guidant Financial Group Blog

As many of our clients and prospective clients are starting new businesses and are trying to secure traditional financing in addition to the funding available through Guidant’s 401(k) small business financing plan (yes, you can do that!), we often hear about the difficulties of developing a business plan.

Whether you are planning to apply for additional financing or not, having a business plan is never a bad idea – it helps you to understand your market and to have a clear outline of where you want your business to go. It’s something you can refer back to regularly to make sure you are staying on track once you get caught up in the daily processes of owning a business.

To put together a stellar business plan, you must know the key things that financiers are looking for, and the key information you will need to develop your business from the get-go.

Forbes.com came out with an article earlier this month listing the Ten Things Every Business Plan Should Have. Although this article is meant to be a very basic guideline, it provides some particularly helpful information.

Some of the things Forbes recommends you include in your plan are:
• Effective Summary
• Market Opportunity
• Industry Analysis
• Your Team

The article covers additional points (well, 10 in all) that are definitely worth keeping in mind as you pull your business plan together and as you enter the sometimes labyrinthine world of business ownership!