Just write the business plan for Pete's sake! (Part 2 of 2)

By Cindy Unger, Wyoming SBDC

Once you are convinced that this business is going to be a “winner”, you likely will have to convince the bank and/or private investors that their support of your venture will result in success.  Thus, a business plan is also your sales document to potential sources of financing.  Remember, if your financiers don’t know you personally, then your business plan is your introduction, and they want to know as much as possible about both the individual(s) and the business they are lending money to. 

Business plans are not just for start-up businesses.  Companies at all stages of development need to prepare business plans for various reasons, including planning and financing a specific project, new product introduction, general expansion financing, mergers or acquisitions, and overall improvement of the company’s financial and managerial performance.  Contact the Wyoming Small Business Development Center at 800-348-5194 to take advantage of their free Business Plan Review Service, or e-mail your plan to busplans@uwyo.edu.