By Rebecca Brightwell, MBA
Farm Again Staff
After acquiring a disability, individuals often experience
a loss of farm revenue. This is especially true if their farm
operation was on shaky ground prior to the accident.
Having a sound business plan can help rebuild, sustain, and grow a business. No matter what size operation you have, a business plan will benefit you.
The Kauffman Center for Entrepreneurial Leadership surveyed the annual winners of its Entrepreneur of the Year Award. They found that companies with written business plans had 50 percent greater sales growth and 12 percent higher gross profit margins than companies without plans.
So what makes up a business plan? General sections of
a plan include:
The hardest part of the business plan is getting started. It may seem like a big task, but broken down into small steps, it is quite doable. Don’t hesitate to get assistance where needed. A little time invested in planning could mean greater financial returns.
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The SBDC assists existing and prospective business owners to start or grow a business by offering a wide variety of training, providing one-on-one consulting, conducting economic development related market research, and providing technical assistance. The SBDC also offers expertise in international trade and specialty programs and consulting for minority entrepreneurs. Working with a SBDC consultant improves chances for success. For more information, contact your local SBDC. Link to their Web site