When is a business plan desirable?
- When you are a new borrower at a commercial bank
- When the board asks for a more detailed plan for a new strategy
- When a joint venture partner needs documentation for a strategy
- When a business gets to a size where formal communication to stakeholders such as employees and suppliers is required.
- When you are providing a significant product or service to a government entity
- When a formal plan beyond the budgeting horizon is required
When a business starts to demonstrate real revenue growth forecasting and planning are critical management tasks.