At Kutum & Associates we are specialized in preparing Business Plans. Dr. Imad Kutum have prepared many Business Plans in difference industries.
If you’ve ever jotted down a business idea on a napkin with a few tasks you need to accomplish, you’ve written a business plan, or at least the very basic components of one. At its heart, a business plan is just a plan for how your business is going to work, and how you’re going to make it succeed.
Typically, a business plan is longer than a list on a napkin. A standard business plan includes an executive summary, a company overview, some information about your products and/or services, your marketing plan, a list of major company milestones, some information about each member of the management team and their role in the company, and details of your company’s financial plan. These are often called the “sections” or “chapters” of the business plan, and I’ll go into much greater depth about each of them below.
Unfortunately, many people think of business plans only for starting a new business or applying for business loans. But business plans are also vital for running a business, whether or not it needs new loans or new investments. Existing businesses should have business plans that they maintain and update as market conditions change and as new opportunities arise.
Every business has long-term and short-term goals, sales targets, and expense budgets—a business plan encompases all of those things, and is as useful to a startup trying to raise funds as it is to a 10-year-old business that’s looking to grow.

Who needs a business plan?
If you’re just planning on picking up some freelance work to supplement your income, you can skip the business plan. But, if you’re embarking on a more significant endeavor that’s likely to consume a significant amount of time, money, and resources, then you need a business plan.
If you’re serious about business, taking planning seriously is critical to your success.
Startup businesses
The most classic business planning scenario is a startup that need to convince investors, banks, or friends and family to part with their money and fund the new venture. In this case, the business plan is focused on explaining what the new company is going to do, how it is going to accomplish its goals, and—most importantly—why the founders are the right people to do the job. A startup business plan also details the amount of money needed to get the business off the ground, and through the initial growth phases that will lead (hopefully!) to profitability.
Existing businesses
Not all business plans are for startups that are launching the next big thing. Existing businesses write business plans to address changes in their markets and to take advantage of new opportunities.
Business plans can be a critical driver of growth for existing businesses. Did you know that businesses that write plans and use them to manage their business grow 30 percent faster than businesses that take a “seat of the pants” approach? A recent study by Professor Andrew Burke, the founding Director of the Bettany Centre for Entrepreneurial Performance and Economics at Cranfield School of Management, discovered exactly this.
For existing businesses, a robust business planning process can be a competitive advantage that drives faster growth and greater innovation. Instead of a static document, business plans in existing businesses become dynamic tools that are used to track growth and spot potential problems before they derail the business.
If you need further information or you have any questions please contact Dr. Imad Kutum