After fifteen years in one location, Quikstone Capital Solutions recently moved to a new office. The move didn’t take us very far away, but it still required a great deal of planning, preparation, and hard work. First came a needs assessment. How much additional space is needed for growth? What about parking for staff? Would we need to purchase new furniture? Then came the packing. Boxes piled high.  Movers worked into the night. In a flash, it was done. Now we're settled into our new space and ready to grow. In the end, it couldn't have happened without a detailed plan.

If you're thinking about starting or expanding your business, a business plan is a key to success. It's a focusing device, and it helps you think long term.

Research and Planning are Essential

Without careful planning, starting or expanding your business can be like setting off on a long journey without a map. You might get to your destination eventually, but it's almost sure you'll get lost along the way.

It's tempting to neglect planning because it can be time-consuming, but in the long run, the benefits of a good plan will far outweigh the difficulties. The time you invest will pay off many times over.

Here are just a few benefits you can gain from creating a business plan:

• It’s a blueprint you can use to keep your business on track
• It's benchmarking you can use to track the performance of your business
• It’s an honest assessment of your strengths and weaknesses
• It's a rundown of your significant competitors and your strategy for beating them
• It’s a detailed description of your business model or how you plan to make money and stay in business

Creating a business plan can seem overwhelming. But don’t let that stop you. To help, we’ve created a business plan template. Following this template can help you build a business plan you can use and update at any time.