Depending on the variety of funds being raised and the audience to whom the plan is presented, failure to do this could have severe authorized consequences. Cost and revenue estimates are central to any business plan for deciding the viability of the deliberate enterprise. But prices are often underestimated and revenues overestimated resulting in later price overruns, income shortfalls, and presumably non-viability. During the dot-com bubble this was an issue for a lot of technology begin-ups.
- A business plan is integral in selling your organization to potential investors and bankers.
- While it’s tempting to spend a lot of time exploring future opportunities for brand new services, you shouldn’t expand too much on these ideas in your corporation plan.
- It’s a good suggestion to maintain a report of each model of your small business plan as they might contain some important historical information in addition to your intellectual property.