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Essentially, business plans are sales documents. What they are selling is your business idea, your product or service and, above all, you and your track record. But in selling these things you are also competing.
8 | WISE BUSINESS BASICS: BUSINESS PLAN ANATOMY 101. Two of the important financial overviews included in this portion of your business plan will be an overview of financial objectives and a start-up or expansion summary. The financial overview consists of a table and graphs illustrating the financial goals of your company during the next five ...
A business plan is a written narrative that describes what a new business intends to accomplish and how it wants to achieve it. For most new ventures, the business plan is a dual-purpose document used both inside and outside the firm. Inside the firm, the business plan helps the company develop a ‘road map’ to follow to execute its strategies
writing a business plan forces business owners and entrepreneurs to thoroughly think through their business idea, gain a deep understanding of their market, identify challenges, and set benchmarks against which they can measure progress.
Explain how applying the business plan development process can aid in developing a business plan that will meet entrepreneurs’ goals. OVERVIEW. This chapter describes the purposes for business planning, business planning principles, the general concepts and tools related to business planning, and the process for developing a business plan.
This Guide to writing a business plan is designed to help you in developing your business idea, "from concept to company". It details the contents, scope, and structure of a business plan and the expectations venture capitalists have when reading one, and provides valuable pointers on starting up a company.
Chapter 2: The Three-Step Planning Process presents an introduction to the three steps you will use to develop and manage your own business plan—identifying the issues, develop-ing the plan, and managing the plan. Perform-ing these three steps avoids the planning pitfalls described in Chapter 1, thereby helping you suc-cessfully achieve your ...
