The New Year is in full swing—do you have a plan for your growing transportation business? Business planning is something that all businesses should do every year. Putting pen to paper and drafting out the next year of your business can be a bit intimidating, but the benefits are outstanding.
Write a Better Business Plan For Your Transportation Company Using Invoice Factoring
A strong business plan is the most effective way to see your business as a whole. With proper business planning, you will be able to see where your business stands in line with competitors, what goals to set to get ahead of competitors, and how to reach those goals in a timely manner.
With a strong business plan at your disposal, your business will be more appealing to lenders, partners, and consumers. To create a strong business plan for your transportation business, utilize transportation invoice factoring.
With transportation invoice factoring, your business will be able to secure a strong source of working capital to reach goals higher than you ever thought possible.
With transportation invoice factoring, your business will get an up to 96% cash advance on its outstanding invoices in just 24 hours or less. This will allow you to get almost instant access to the funds owed to your business, without the risk of traditional financing.
This year, try using the techniques below when business planning for your company.
Executive Summary of Your Transportation Business
Although this is the first section that you should have in your business plan, we suggest that you write it last. This summary is a one to two page overview of your entire business plan. It should introduce your company, briefly go through its services, and explain its future plans.
This needs to be a quick, yet accurate description of your business and its plan filled with solid information that provides the reader with value.
A Description of Your Company
This section of your business plan should discuss the background of your business in detail. As you are drafting this portion, be sure to describe the overall mission of your transportation company and why it differs from others in the industry.
Your compelling story will help partners, banks, and other readers make a connection to your business that can help persuade them to work with you.
Take the time to outline your staff, structure, roles, and responsibilities. The goal is to carefully describe your business in a way that is compelling and informative.
Explain Your Transportation Company’s Services
A part of what makes your company unique is the services it offers. In this section, be sure to explain, in detail, your company’s services and how they are effectively meeting your customer’s needs.
Explain what makes your services different from others in your industry to show readers your business’s competitive advantage. This can include pricing, materials, equipment, or other strategies that make your services stand out from others.
Increase Your Financial Projections with Transportation Invoice Factoring
This is one of the most, if not the most, important section of your business plan. This section shows your transportation company’s ability to meet its goals. If your reader sees that your finances are below what it takes to fulfill your customer’s needs, they will be less likely
By using invoice factoring, you can help increase your company’s working capital. This will allow partners, banks, and other readers of your business plan to see your company in a better light.