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A business plan is a blueprint for how your business will run and reveals what future direction your business will take. Understandably you will want to be careful who you show your plan to and avoid your competition seeing it.

Preparing a business plan will help you work out the goals you want to achieve, and the strategies to achieve them. This means you can focus your resources and energy on what you need to do, rather than spreading yourself too thin. The planning process also helps you to consider possible bumps in the road and put a plan in place to better manage them if they do come up.

Size your business plan to fit your business. Remember that your business plan should be only as big as what you need to run your business.

That doesn’t mean you have to bust out Word and start the plan from scratch. A template is great--you probably aren’t doing anything that hasn’t been done before, so it provides a proven structure for your plan. Pretty much everything on it can be customized.

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