Business Plan: If you’re starting a new business,
one of the very first things you should do and have is to write a ideal Plan.
What is a business plan?
A business plan is a document that sets out the purpose of your company,
your company’s plans & objectives and the strategies you will use to achieve them.
Your Business Plan is a living document.
You shouldn’t just write it once then file it away and forget about it.
It should be referred to, updated and modified as your business grows and changes.
Why you should write a business plan
Every company needs a ideal plans – even if it’s just you running the business alone. A clear ideal plans is crucial if you want to get a business loan or attract investors.
Writing a ideal plan will help you to:
- Clarify and articulate your business idea
- Identify potential problems and challenges
- Set clear goals that you can refer back to
- Measure success
What should a business plan include?
This length, content and detail of a ideal plan will vary depending on a number of different factors – but as a general guide, most plans will contains the following sections:
- Executive Summary
- Business Overview
- Operations Plan
- Market Analysis
- Description of Products and Services
- Sales & Marketing
- Competitor Analysis
- Management Structure
- Financial Plan
- Financial Projections
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More resources
If you’re struggling to write your ideal plan, your can find several examples and templates online.
You can view real world examples of business plans at bplans.com.
