More Uses for Your Business Plan

You have invested a lot of time and energy on writing a business plan just to get a loan or to attract an investor. What do you do when you get the money or, worse, should you be turned down?

Do you just file it away? That's like investing in a boat that remains parked in your driveway after its inaugural voyage.

Instead of filing it away or leaving it on a shelf to gather dust, why not capture more return on your investment? To gain a clearer perspective, convert your investment of time and energy into a dollar amount. Then, you'll think twice before filing your business plan away.

Ways to capitalize on your investment

  • Expand the marketing section for an ongoing planning document, or for periodic reviews, or for revising marketing strategies. The historical data, projections, competition surveys and analyses are valuable bases for updating the data into a working framework. The material is a convenient reference for when you are asked to make an oral presentation, to write an article, to provide background data for ad copy or for other promotional activities.

  • Save the various sections as templates for any number of purposes. Some of these can be used for decision-making, for analyzing proposals and new ventures, or for dispensing with those time-consuming 'dream/someday' projects.

  • Use some excerpts for such Human Resource Management activities as: orienting and training a new associate, or as a preparation for a staff promotion.

  • All your grueling work on the financial data can form the foundation for financial controls and reviews, budget-actual sheets and as background for trend projections. Your original documents serve as benchmarks and as reminders of your progress for your bankers.

  • You will not have to start out from scratch should you have a similar need to re-apply for funds, tender an invitation to a partner, or supply data for the experts should you consider 'going public.' The evidence of before-and-after progress is helpful as a contribution to a 'for sale' proposal, or for a sudden and urgent offer to buy. Plans for expansion, mergers, spin-offs, or cooperative alliances can start with your collected data.

  • Your business plan, with its appendices, is a convenient repository for company data and records, equipment details, floor plans, measurements, maps, contact details for legal and accounting consultants, general historical information, industry descriptions including your historical SWOT (strengths, weaknesses, opportunities and threats) analysis of the past, current and future at the time of its writing.

  • Create in-house displays of your mission statement, the organizational chart or the photographs and biographical sketches of your benefactors and supporters.

    Don't have a business plan in your files? Begin preparing portions today as an investment for that day when you will need one. It's quite probable that when that need arises you will be too pre-occupied to devote the required time and energy on an appropriate plan.

    Now, you have a greater incentive to do a more thorough business plan today, knowing it is going to serve several useful purposes in the future.

    About The Author

    Gerry McRae added practical wisdom to his college and univeristy courses by owning and operating small businesses. That wisdom is now online at http://www.unclemaxsays.com.

    Barrington South Lincoln Stretch rentals .. Lockport Chicago limo O’Hare
    In The News:

    A newly discovered security flaw with your iPhone or iPad could leave your personal information vulnerable to hackers. Kurt the CyberGuy explains.
    Modeled after a traditional bell-shaped skirt worn by women in Kosovo, a theater's roof is draped entirely by solar panels to generate renewable energy on-site.
    Kurt the CyberGuy explains how to protect yourself from malicious Chrome extensions that can steal sensitive information like password managers, crypto wallets and banking apps.
    Stellantis' innovative STLA AutoDrive 1.0 system allows drivers to safely take their eyes off the road and their hands off the steering wheel.
    Here are some travel hacks to save money on your next vacation including setting up price alerts, remaining flexible and checking for 24-hour price drops.
    Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
    One report claims at least 25 million people were targeted by infostealer malware between the beginning of 2023 and the end of 2024, capturing bank card details and passwords.
    The LaserWeeder G2 uses lasers, artificial intelligence and advanced robotics to offer an alternative to chemicals traditionally used in farming.
    Tech expert Kurt “CyberGuy" Knutsson says a malware app called SpyLend is posing as a financial tool, hitting 100,000-plus downloads.
    Tech expert Kurt “CyberGuy" Knutsson says Clone Robotics’ Protoclone mimics humans with 1,000 muscles – too human for comfort.
    Tech expert Kurt “CyberGuy" Knutsson urges you to use Apple’s App Privacy Report to see what your apps are really up to.
    Tech expert Kurt “CyberGuy" Knutsson talks about how to smoothly transfer your data from an old laptop to a new one using cloud storage or external drives.
    Kurt the CyberGuy offers tips to safeguard your personal information as scammers become more sophisticated with scam texts and other methods.
    WeRide's unmanned electric delivery van, the Robovan W5, has 194 cubic feet of cargo space and can carry payloads up to about 2,205 pounds
    Kurt the CyberGuy recommends deleting 16 browser extensions immediately in response to a report saying more than 3.2 million web users were affected by a security breach.
    Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
    A robotics firm in China claims a robot has performed the world's first humanoid robot front flip, which is significantly more difficult than a backflip.
    A digital ID may be even more secure than a physical ID. Storing your driver's license in your Apple Wallet is an ideal solution for commuters.
    A cybersecurity firm has shed some light on just how common tax scams have become. Kurt the CyberGuy offers his advice for how to protect your refund.
    Lifesize Plans offers immersive walk-throughs that allow customers the opportunity to tour a home's design before construction actually begins.
    Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.
    A man invested $4 million in bitcoin and lost it all with a single click when he was targeted by a vishing scam, which uses phone calls to trick people.
    Expandable's Touchdown is a designer trailer that promises a luxury off-grid living experience and unfolds into a home in about 15 minutes.
    Major employee screening company data breach affects 3.3 million people. Tech expert Kurt “CyberGuy" Knutsson explains what happened and gives five ways to protect your data.
    Kurt “CyberGuy" Knutsson reveals mind-blowing tech that gives you sunlight on demand.
  • Be Like Bill - Think!

    Twice a year, Bill Gates goes to a remote island... Read More

    GOT MEME? How to Attract Your Clients and Customers Attention

    No "meme" isn't a typo and Got Milk, the more... Read More

    10 Ways To Make Your Business Unique

    1. Largest Selection -One way that you can make your... Read More

    Don?t Just Talk About the Weather, Use It to Advantage

    A well known, national chain of restaurants discovered that certain... Read More

    Business Process Methodologies

    I've either been involved with or held a process-related role... Read More

    A Unique Joint Venture Twist: Make Huge Profits Even If You Have No Money, No Products, and No List

    Would you like to jumpstart your online or offline business... Read More

    Mobile Franchise Business Expansion Strategy

    If you own a mobile franchise business and wish to... Read More

    Why Six Sigma Will Work in Healthcare

    If ever there were an industry where we want zero... Read More

    Balanced Scorecard Strategy Map

    With the help of balanced scorecard strategy map, it is... Read More

    What is Your MSP?

    For many consumers and producers, MSP is an acronym for... Read More

    Shortening Product Life Cycle!

    The current state of the available technology at the disposal... Read More

    19 Questions to Supercharge Your Business Plan

    Whether you are seeking capital for your company or are... Read More

    The Impact of Price Popularity on Profits

    The goal of almost every business owner is to generate... Read More

    Microsoft Great Plains Implementation: Placement/Recruiting Agency example ? overview for consultant

    Microsoft Great Plains does wonderful ERP job for horizontal markets... Read More

    How to Start A Business Plan

    A business plan precisely defines your business, identifies your goals,... Read More

    Content Management: Wise Investment for Business Prosperity

    The time when a website was just a simple set... Read More

    Communication Strategy During A Time Of Strategic Planning

    "Rubbish!" shouted the large, aggressive man in the red-striped shirt... Read More

    Corporate Venturing For Emerging Growth Companies

    The boom of the dot-com era in 1999 brought the... Read More

    Connecting Your Offline Business to Your Online Business

    These may sound like no brainers, but you'd be surprised.... Read More

    Top Ten Reasons To Create A One Page Business Plan

    There is a story, about a business owner who wasn't... Read More

    Thinking Like A Farmer

    One of the difficulties we face in our industrialized age... Read More

    Why Create an Annual Plan?

    Can you imagine going on a road trip without knowing... Read More

    What Every Service Provider Ought To Know About Writing A Business Plan

    It's easy to lose sight of what needs to be... Read More

    Vendor Relations Strategies Sample Outline

    One of the quintessential parts to any business is your... Read More

    Your Business: Will It Have A Happy Ending?

    "Begin with the end in mind," says Stephen Covey in... Read More

    Downers Grove limo Chicago ..