Financial Uses

• In addition to securing the initial business loan, your business plan also has long-term financial uses. The plan can be used to attract new investors, find new suppliers, interest talented employees and keep your financial goals on schedule. The primary purpose of the financial section of the business plan is to develop an evolving strategy for reaching financial goals. You should revisit your business plan often to assess current financial needs. Regularly update the plan with new profit projections and reinvestment strategies as your company grows.
  
  

Marketing Strategies

• Another objective of your business plan is to help you develop marketing strategies. As a start-up, the marketing section of your business plan includes the demographics of potential customers, research on the market you want to penetrate and how you will advertise to that market. As your business develops, the marketing plan evolves to reflect new information about the purchasing habits of your customers and ways to integrate that knowledge into your marketing strategy. Use your business plan to assess effective advertising strategies and address new marketing developments.
  
  

Controlling Growth

• The business plan is also essential to meeting business goals and controlling company growth. Your business plan starts with an outline for financial stability, projected growth and customer satisfaction based on your competitive market analysis. As you gain experience, the plan expands to encompass new goals and growth management strategies. By moving the company into a market it is unprepared for, uncontrolled growth can cause your company to lose its competitive edge. Use your business plan to chart expansion into new markets while maintaining your company's reliability and competitiveness.