There's two primary things or reasons why you have a business plan. One is for you, you need a roadmap, directions to get to where it is that you're going. It's a map showing you how to get to where you're going. If we have the map, you know how to get there faster, accomplish more, and go farther in the same amount of time.

The second reason to have the business plan is for the banker, lender, investor, or partner, whether they're lending to you, investing in you, or working with you. They need to know what the goal or vision is and where it is you're headed so they can decide if they want to stay on your bus and come with you, or get off and go on somebody else's bus.

Raising capital for assisted living is the easiest thing I've ever raised capital for, but you need to have a business plan in order to do that. Don't expect anybody to give, lend, or invest in you or be a part of what you're doing financially unless you have a written plan. But if you do and your clear, you surround yourself with the right people, and you've got a plan, you absolutely get it funded and be successful.

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