Small Business Plan–Who Needs One, Really?

A dentist in an affluent part of town had made a good living and accumulated a respectable net worth over many years of practice. Having become bored with the ease of making money in his profession, he was considering starting a retail business on the side.

He invited one of his patients, a business consultant, to lunch to discuss his idea. The business consultant accepted the invitation if for no other reason than to have the opportunity to show the dentist that he really could speak clearly without multiple injections of numbing agent.

The dentist’s first question was very familiar. “How important is a business plan, really?” The ‘really’ underscored that he was hoping to learn that it wasn’t important at all. To the contrary, the consultant shot back, ‘How important is it for your patients to floss their teeth, really?’ Ouch! Another injection please.

Not ready to give up, the dentist went on. ‘I’m funding the business myself and won’t need a loan and certainly not venture capital, so why bother?’ Not to be taken off course, the business consultant advised, ‘Regardless of who might or might not eventually read it, your business plan is evidence that you have thought through your idea in a structured manner. You have thought about your customers, your operations, your competitors and your finances. Having done so, you’ve then been able to express your idea in a way that is easily understood and compelling. When all you have is an idea, a business plan is the only evidence that exists that you can transform this idea into a successful business. Without a business plan, there is no evidence.’

‘Okay, I’m convinced’, said the dentist. ‘Where do we start?’

Want a great business plan template you can complete in just one day?

Click GET STARTED to access our great fill in the blank business plan. Our template is in-depth and covers all the details you need to develop a foundation for many businesses of various industries. We are so confident you will like this plan that we even offer a full money back guarantee.

Want a great business plan template you can complete in just one day?

Click GET STARTED to access our great fill in the blank business plan. Our template is in-depth and covers all the details you need to develop a foundation for many businesses of various industries. We are so confident you will like this plan that we even offer a full money back guarantee.

SBA Microloans for Small Business and Startups

SBA Microloans for Startups and Small Businesses Introduction to SBA Microloans SBA Microloans are designed to provide small businesses with accessible financing options, particularly those businesses needing smaller amounts of capital. The SBA Microloan program is...

Business Plan Elevator Pitch

Business Plan Elevator PitchCreate a version of your business story that would interest investors when you only have a brief opportunity to make your pitch!What are the 5 essential parts of an elevator pitch? To be effective, your elevator speech should be a succinct...

Business Plan Help

Business Plan HelpWhat is a Business Plan? A business plan is a written document that covers all the essential elements of starting, growing and sustaining a business.  A business plan is for more than just seeking a loan or investment.  A properly written plan...

What You Must Know Before Buying a Business

What You Must Know Before Buying a BusinessThe Benefits and Drawbacks of Buying a Small Business Purchasing a small business can be exciting, promising immediate income, a client base, and the chance to build on an already successful operation. Accurately determining...

How to Select a Business Broker

How to Select a Business BrokerBusiness brokers offer specialized expertise and often have extensive knowledge of businesses that are for sale. Using a business broker when buying a business will jump-start your process and is likely to help you get educated about the...