Business Plan

What is a Business Plan?

A business plan is a written document that details how a company—usually a startup—defines its goals and strategies for achieving them. A business plan lays out a written course for the organization from a marketing, financial, and operational perspective.

Business plans are crucial papers that are used by both the company’s external and internal audiences. A business plan serves three purposes: it describes the organization’s strategy in order to carry it out over time, it secures funding from investors, and it aids in forecasting future company demands.

The work you put into creating a complete and precise business plan, as well as keeping it up to date, is an investment that will pay off well in the long run.

In terms of structure and content, your business plan should adhere to widely accepted guidelines. Each part should contain specific elements and answer pertinent questions that readers of your plan are likely to have. A business strategy typically includes the following elements:

• Title Page and Content 
• Executive Summary
  • Description of Business
  • Description of the product/service 
• Market Analysis 
• Competitive Analysis
• Operations Management 
• Financial Components of your Business Plan
• Supporting Documents

Also, See: Change Management