The documented strategy for a company
A business plan is a documented strategy for a business that highlights its goals and its plans for achieving them. It outlines a company’s go-to-market plan, financial projections, market research, business purpose, and mission statement. Key staff who are responsible for achieving the goals may also be included in the business plan along with a timeline.
The business plan is an undeniably critical component to getting any company off the ground. It’s key to securing financing, documenting your business model, outlining your financial projections, and turning that nugget of a business idea into a reality.
The purpose of a business plan: It summarizes the organization’s strategy in order to execute it long term, secures financing from investors, and helps forecast future business demands.
1. Securing financing from investors.
2. Documenting a company’s strategy and goals.
3. Legitimizing a business idea.
4. Getting an A in your business class.
What does a business plan need to include?
Business Plan Subtitle
Executive Summary
Company Description
The Business Opportunity
Competitive Analysis
Target Market
Marketing Plan
Financial Summary
Team
Funding Requirements
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