Business Plans

A business plan precisely defines your business, identifies your goals, and serves as your firm's resume. The basic components include a current and pro forma balance sheet, an income statement, and a cash flow analysis. It helps you allocate resources properly, handle unforeseen complications, and make good business decisions.

Because it provides specific and organized information about your company and how you will repay borrowed money, a good business plan is a crucial part of any loan application. Additionally, it informs sales personnel, suppliers, and others about your operations and goals.

The importance of a comprehensive, thoughtful business plan cannot be overemphasized. Much hinges on it: outside funding, credit from suppliers, management of your operation and finances, promotion and marketing of your business, and achievement of your goals and objectives.

Just as a builder won't begin construction without a blueprint, eager business owners shouldn't rush into new ventures without a business plan.

Before you begin writing your business plan, consider four core questions:

• What service or product does your business provide and what needs does it fill?
• Who are the potential customers for your product or service and why will they purchase it from you?
• How will you reach your potential customers?
• Where will you get the financial resources to start your business?

Westar Trade Resources has effectively assisted clients to plan, develop, and implement successful business plans. For more information and a confidential, free consultation, contact us at sales@westartrade.com.

"In addition to my role as CFO for Express Meat Co., Inc, I have also been a partner in a CPA firm for 16 years. I have seen many business plans over the years and thought the one Cindy prepared was the best I had ever seen. We were under a tight timeframe for completion of the business plan and she delivered the completed product within our deadlines."

Sherry Dale, CPA
CFO, Express Meat Co.