Avoiding Common Business Loan Mistakes Surveys show that 94.7% of small business owners feel their only lending resources are local banks or personal credit cards. Avoid these common business loan mistakes with some common sense advice.     Design Your Plan to Fit Your Business Business planning is about results. For every business plan, you need to make the contents of your plan match your purpose. Don't accept a standard outline just because it's there.     Business Plan Mistakes Often you may hear about what a business plan consists of. While including the necessary items is very important, you also want to make sure you don't commit some common business plan mistakes.     Business Plan Maintenance A business plan is not a one-time document, at least it shouldn't be. Ultimately, a business plan is about results, about making your business better. If you don't think doing a business plan will improve your business, then don't do one. Planning for planning's sake is a waste of time.     Gathering Information For Your Plan A common problem people encounter when writing their business plan is finding information about their business industry and competitive companies. Fortunately, in recent years the Internet has made information gathering simple and easy, but sometimes the best information is found much closer to home, with real people, in real time.     Business Plan Basics A great business plan not only helps you have raised the money to start or expand your business, but it will serve as a road map for your business.     Do I need a business plan? A business plan should prove that your business will generate enough revenue to cover your expenses, but a business plan may vary depending upon whom your audience is.

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