TAILIEUCHUNG - Business Plans Kit For Dummies 2nd editon - Chapter 11

Chapter 11 Planning for an Established Business In This Chapter Propelling your company forward Planning for sales or mergers Retooling your plan in times of trouble Owners of established businesses sometimes need a little | H DD Chapter 11 Planning for an Established Business In This Chapter Propelling your company forward Planning for sales or mergers Retooling your plan in times of trouble wners of established businesses sometimes need a little or even not so little push to get into business planning. Back when you were starting up creating a business plan felt essential. You knew that you needed all the answers to the questions that bankers or others asked you right at your fingertips so you wrote a plan or at least felt pangs of guilt if you didn t. But after your company is up and running you tend to shove business planning toward the back burner. Putting out daily fires trumps all other activities and the thought of setting aside time to update or write a business plan begins to seem like an optional luxury. And even when you have time you may embrace the tenet If it ain t broke don t fix it. If business is going okay why plan to change what s working at the moment Here s why If you re not fine-tuning your business to meet the realities of today and the forecasts for tomorrow you re apt to get overtaken by technology by competition by market conditions and by the changing world around you. Hopefully these reasons motivate you to spend time planning for the future of your company. Whether you want to grow seek financing prepare for a sale or plot a business turnaround the following pages help you take stock of your business situation today so that you can develop a plan that steers you clear of trouble and toward opportunity in the days and years ahead. H DD 204 Part III Tailoring a Business Plan to Fit Your Needs Purpose-Driven Planning If your established business doesn t have a business plan you re on a trip without a road map and that s reason enough to start writing one today. Maybe writing a business plan is the reason you re holding this book and reading this chapter. Or maybe you already have a plan but you re wise enough to know that change is constant and that your plan

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