DEVELOPING YOUR BUSINESS POLICIES:

If you have just started out in business or have been in business for years, it's imperative to thoroughly develop company policies. A company policy is a rule or guideline, a company follows when faced with a particular problem or issue. The more situations or policies you develop, the smoother your business will operate.

Below lists a variety of areas where policies may be created.

OPERATING PLAN IN YOUR BUSINESS PLAN

The operating plan, whether simple or complex, should be explained to a lender so that they fully understand how the business will acquire its products and how it will make them ready for resale. Explaining this operating plan or production process should also make the business plan reader aware that the entrepreneur has the expertise to pass on the businesses' products or services to its customer base.