A good business plan guides you through each stage of starting and managing your business. You’ll use your business plan as a roadmap for how to structure, run, and grow your new business. It’s a way to think through the key elements of your business.

Business plans can help you get funding or bring on new business partners. Investors want to feel confident they’ll see a return on their investment. Your business plan is the tool you’ll use to convince people that working with you — or investing in your company — is a smart choice. Your business plan is the foundation of your business. Learn how to write a business plan quickly and efficiently with a business plan template.

The business structure you choose influences everything from day-to-day operations, to taxes, to how much of your personal assets are at risk. You should choose a business structure that gives you the right balance of legal protections and benefits.

Your business location determines the taxes, zoning laws, and regulations your business will be subject to. You’ll need to make a strategic decision about which state, city, and neighborhood you choose to start your business in.

If your business is up and running but needs more capital, you can rely on familiar options. However, funding an existing business still requires slightly different preparation.

If you have trouble getting a traditional business loan, look into SBA-guaranteed loans. When a bank thinks your business is too risky to lend money, the SBA may guarantee your loan — that way the bank has less risk and could be more willing.