Many business owners know and understand the value of a business plan. The business plan is a key component of the loan process and serves as a foundation for your organization. To get the whole picture and have a framework on which to build your business you also need a strategic plan. MORE >>

(Note: I posted this yesterday as a guest post on Howard Lewinter’s Talk Business With Howard blog, part of getting ready for a radio chat with Howard on Blogtalkradio tomorrow morning. When asked if you have a business plan, would you scoff slightly, roll your eyes maybe a bit, and dismiss the idea as something only startups do. MORE >>

Modern investors love to first read a two-page summary of your business plan, formatted like a glossy marketing collateral sheet, with text well laid out in columns and sidebars, and a couple of relevant graphics. Most likely, the investor has already seen multiple plans with similar solutions. Business model. MORE >>

ve often compared business planning to nutrition and exercise. And people who cite the misuse of the business plan document as an argument against good planning are using the same faulty logic as people who cite starvation diets and running a marathon without training as arguments against nutrition and regular exercise. MORE >>

One of the biggest barriers to better business planning is the horribly mistaken and disappointedly common myth that develop a business plan takes months. And harmful, too, because it pushes away people who could use planning, but don’t because it takes too much effort. Image via Wikipedia. That’s just wrong. MORE >>