Every business idea needs a business plan that will launch it forward successfully. A business plan is what gives your company direction, therefore it is vital for the success of a new organization. If you do not have a business plan, then you will be working blind – a style that is bound to decrease positive results.

The primary question a business plan must answer is this: Why are you so passionate and dedicated to this idea? The answer ultimately defines your objectives, which serve as the path to success that you must take step by step.

Whenever you meet with an investor, collaborator, or even a new hire, let them know why your business is going into the direction that it is. What makes that direction your direction? Answering this will show them the extent of your vision, which always helps whenever you are looking for people to help you turn that vision into a reality.

Research is an equally important aspect of your business plan. The data you collect prior to executing a goal allows you to analyze your product or service, your market, and your objectives. This is what makes business plans convincing for many outside professionals, because it proves that you know how to carry your business through the years still to come.

A perfectly made business plan allows you and others to know everything about your business, your industry, your desired audience, and most importantly – yourself.

While writing the perfect business plan, you must be aware of the following needs it must address – what you know about your product or service, what you know about your competition, and finally, what you know about the people you are trying to reach out to.

These are not entirely easy questions to answer. Time and effort is necessary to create a business plan that is convincing as it is personal. However, when you put in that time and that effort, the resulting illumination of your way forward is what will make your definition of success that much easier to achieve.

Article by
Wayne Goshkarian,
Director of Communications

Wayne Goshkarian in front of his jet