Even though most people, learners and business people alike, show fear when faced with a task of coming up with a business plan, the process is achievable under proper guidance. A business plan refers to a written document that describes in detail how a business (usually a new one), is going to achieve its set goals and objectives, and at what cost. A business plan lays out a written plan from a marketing, financial and operational viewpoint. In order to develop an effective business plan, it is important to understand the purpose for which you need one. Among the four main purposes for writing a business plan include:
- Maintaining Business Focus
- Securing Outside Financing
- Fueling Ambitions and Mapping Growth
- Enlightening Executive Talent
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