When working for a small yet rapidly growing company, fast-paced and hectic days are expected. These days happen with regularity if the company is in the process of making a business plan—a document outlining the firm’s goals and the actions to take to achieve these goals. The business plan is essential when pitching to investors or negotiating a loan from a bank.
During the past few weeks, I focused on developing a business plan for a newly formed private investigation firm. The process began with business-minded dialogue among the owners and I, using a poster board to keep our ideas organized. After discussion and research between the owners and I, we discovered several areas where we can work to expand the business during this summer and beyond. Our next steps will be to estimate the future expenses and revenue of these future expansions through market research—this will be necessary to prove the validity of our expansions.