Lost sales, loss of a long-term customer, disgruntled employees and increased costs can result, Esparza said. With a plan, owners can surmount difficulties because they have allowed for time to deal with unexpected occurrences and still accomplish the same objectives. They have a Plan B if Plan A falls through. Setting weekly, monthly or quarterly objectives allows owners to focus on business growth and stability. All businesses need to account for these elements, but not necessarily in the same way.
Business plans vary accordingly.
They are generic in that they address the same basic things, but they stress different elements, according to the type of business or industry. For example, plans for a manufacturing firm may focus on operations, while a high-tech company's plan might focus on an innovative or unique technology. A retail business plan might concentrate on distribution or a new retail market. A good idea before starting to write your business plan is to examine other business plans written for companies in your industry. More than 160 types of businesses in different industries are examined in separate, 150-page notebooks.