Preparing business plans defining a company’s strategic objectives and how it plans to achieve its goals laying out a written road map from marketing, financial and operational perspectives.
Why is a business plan important?
- Prior to starting operations, any new business should have a solid business plan in place
- Before considering whether to offer funding to new enterprises, banks and potential investors demand to see a comprehensive business plan
- Before you spend too much money on an idea, business plans help you think it through and overcome potential roadblocks to success
What do business plans typically include?
- Executive summary
- Products and services
- Market analysis
- Marketing strategy
- Financial planning