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The Purpose of a Business Plan
American National University has over 130 years in helping people earn their higher education, with a rich history in helping our students become the next leaders in business. And an integral piece to our business programs, ranging from diploma to master’s programs, is providing you with the skills to create your own business plans. For this National Create a Business Plan month in December, we want to break down some of the reasons why these plans are so important when it comes to creating your own business.
What is a Business Plan?
From Adam Hayes on Investopedia: “A business plan is a document that defines in detail a company’s objectives and how it plans to achieve its goals. A business plan lays out a written road map for the firm from marketing, financial, and operational standpoints.” All companies, at any time, will use business plans to detail their objectives, from start-ups to established companies.
Basically, a business plan is your number one too that outlines what your business is and what it hopes to accomplish. The plan you create will show both internal and external audiences what the financial, technical, and economic feasibility of your business.
Why Should You Create a Business Plan?
A business plan allows you to evaluate your business idea and the feasibility of it – does your business fulfill a need in the market? It answers the basic questions that your business should answer:
- Which markets are you entering?
- Who is your customer? Who is your partner? Who is your investor?
- How long will it take you? When will it be a viable business? When will you achieve these goals or factors?
- Where is your business based? Where are you going to find success?
- How will you do it?
Along with these questions, it allows you to analyze and research strategies you need to become successful. For any business, new or existing, it allows all who work for the business to stay on the same page with the same goals and strategies in mind.
The business plan is a map you create for not only you and your business, but those interested in your business, like agencies, banks, and other entities to see the action you plan to take to make your business become a project and not just an idea. It can act as a business card for you to attract anyone from partners, investors, employees, and even customers. Your plan will be the key to understanding if your business should enter the market.
Why Should I Choose ANU to Learn How to Make a Business Plan?
Whether you join ANU in our diploma program or in our master’s program, your business education will provide you with the skills you need to succeed in the business world. We have over 130 years of being a trusted school for business professionals – our goal is to help you change your life through your education. We provide you with the foundations, the principles, and the information you need to become a career professional through our High Tech, High Touch approach to your education.
ANU alumna Rupali Patel has found that her education continues to help her in her business ventures, even seven years after her graduation. After a successful career at a large radio conglomerate, Rupali jumped full force into creating her own business.
“I actually took the business plan that I made at ANU in my bachelor’s program…I used that concept model and I actually presented it to the bank, and that’s how I got my SBA loan.”
Through her education at ANU and the skills she learned while attending, Rupali successfully created a business plan that secured her a small business loan and turned her idea into action. Because of what she learned, Rupali says, “I learned a lot from ANU. I couldn’t be happier to get my degree from there.”
Not only do we have accredited business programs, but our programs are also 100% online so that you can earn your education anywhere you have an internet connection—attend sessions from the comfort of your own home and no longer deal with expensive room and board or commuting to classes. Earn a business diploma all the way up to your MBA from career experienced instructors – all online. You are given the tools you need to succeed—support systems from your instructors, peers, and faculty at ANU, and learning materials needed to bolster your education. ANU makes it easy for you to be live, in class, from anywhere!
No matter if you come into our beginning business programs or join our graduate degree program, ANU will provide you with new skills and opportunities to become a successful business leader. Our faculty, which come from our global networks of career professionals, will give you the knowledge and experience you need to create a business plan. To learn more about our business programs and what we offer, go to an.edu/programs. Or to learn how we provide you with in-class quality education through an eLearning platform, go to https://an.edu/elearning/.
American National University – Be live, in class, from anywhere.