Practice management
Business plan
A business plan is a written document that describes how a practice will operate and make money, used for planning and to show lenders or investors.
The SBA says a business plan is a roadmap for how to structure, run and grow a new business. It adds that the plan is a tool to convince people that working with you or investing in your company is a smart choice. The ADA offers a dental guide that says a practice can follow the same general guidelines as other small businesses, and that existing practices may need to update their plans, especially to expand. The SBA's counseling page lists forecasted income statements, balance sheets and cash flow statements as parts of a plan. A lender will often ask for these. See practice financial statements and practice budget.