Business Plans – What Are They and Do You Need One (Part 1)?

We hear all the time from frustrated small business owners who say all they need is a business plan.  When we ask them why, it’s usually based on them hearing that from a bunch of people who ask them what their plan is for the business.  What does this even mean?

How Do I Get Money For My Business?

Most owners start and fund the initial growth of their business through a combination of their own personal savings, borrowing from family and friends, and maxing out their credit cards.  As those sources of money dwindle or become tapped out, the growth of the business can often be stifled by this lack of capital.  It’s at this point that many business owners approach alternative money sources (e.g. bankers or investors)