You can definitely start your Alaska startup without a business plan. However, if you want to go through the entire process smoothly, you may want to write a business plan.
A business plan is similar to a blueprint. It is a detailed guide which will help you build your business with accuracy and efficiency. By writing a business plan, you will be able to communicate and organize your ideas properly, identify potential problems and lay out effective solutions.
To convince you why a business plan is important for every Alaska entrepreneur, here are 7 solid reasons that you have to read!
You have so many things to consider when starting a business and it will not help if you rush things. If you want to avoid failure, you need to write a comprehensive business plan – carefully thinking of strategies, allocation of resources and organizing business priorities.
Starting your business with a business plan gives you an advantage over other entrepreneurs. By writing one, you are ensuring the growth and success of your Alaska startup.
Undercapitalization is one of the primary reasons why most businesses fail. Gaining funding or capital is difficult, you need to convince investors that your business is worth their investment.
The best thing that you can do is to write a professional business plan which you can present to them with confidence. A business plan is a great avenue to relay your ideas and goals and when investors and lenders understand these clearly, you’ll be able to gain their trust and respect.
You will never know the real value of a business just by looking at its outer shell. You need to study and research it thoroughly and you can only do this if you write a business plan.
By making a business plan, you will be able to know what and how your business doing, this also includes the cost of starting and maintaining your business and the approximate profit that you’re going to gain.
In a way, a business plan helps you sell your business better. Business plan making enables you to understand the products or services you’re offering and in turn, you’ll also be able to market them better.
Excellent marketing strategies will greatly influence the perspective of consumers as they will also be able to understand the overall value of what you’re offering. Through this, you’ll be able to grow your business and establish a solid and loyal customer base.
One of the most difficult things when starting a business is communicating what your true business goals are. Being able to convey your business goals properly to investors and business partners is essential.
Make this easier by making a business plan for your company. If you have one, then all you really need to do is present and explain your business goals. Also, when you’re running a business, you’ll be dealing with a lot of professionals so you may need to prepare a business plan.
The people working for you make up your business. As a business owner, you need to take the lead and guide them on their responsibilities through your company’s specific goals and objectives. A business plan stipulates all of these and you can include them during employee training and workshops.
The main purpose of a business plan is to give you a sense of direction. By setting achievable and realistic goals, you will be able to head in the right direction. You will also be able to prepare for the road ahead and for the future in general because you’ve forecasted them in your business plan.
A business plan is not easy to make, but there are many options to choose from when it comes to resources. To make things easier for you, we’ve prepared a list of credible resources that you can use to jumpstart your business plan.
Writing a business plan doesn’t have to be difficult and time consuming. Business Plan Software solutions have made business plan writing easier for Alaska entrepreneurs and if you want to try them yourself, below are 3 of our most recommended software options!
LivePlan in my opinion is the best business plan software in the market. The software only offers one plan which can be paid annually or monthly.
If you choose the monthly subscription, you only need to pay $14.95 for the first month and $19.95 for the succeeding. The annual subscription is only $11.66, more affordable than the monthly subscription.
With this price, you can take advantage of LivePlan’s tools which include the share and collaboration features, 10 beautiful themes and a pitch builder. Learn more about LivePlan by reading our complete review or visiting LivePlan.com.
Business Plan Pro is a credible business plan software with over 10 years of experience in the industry. It is also one of the most comprehensive in the market and with an affordable package plan priced at $99.95, you’ll be able to take advantage of more than 28 features.
Market research tool, printing and publishing tool, funding tool and forecasting tool are just some of the features that Business Plan Pro offers. Try the software risk-free for 60 days through their money back guarantee.
Last but not least is Enloop. The business plan software is highly reliable and you can even use it completely for free – no expiration date or trial period. If you’re satisfied with the services of the free version, you can purchase one of their plans with prices ranging from $9.95 to $39.95.
Some of Enloop’s features include a Performance Score, Invite and Share feature, Multi-currency support, Customer support, Financial Ratio analysis and Interactive PDF Creation.
LivePlan, Business Plan Pro and Enloop are the top 3 business plan software options in the entire industry – I highly recommend that you choose one of them! If you want to continue your “business plan software” hunting, you can also try software solutions that have free versions.