What is a Business Plan

A business plan is a document that outlines your business idea, your objectives and how you plan to achieve them. It will serve as a guide during the lifetime of your business.

Do not think of a business plan as a document that you write, think of it as a process that you are go through to assess if your business goals and objectives are feasible and that all the elements of the plan will work.

Why Do I Need A Business Plan?

A business plan has many functions;

• It assess an idea and its viability
• It is a communication tool for use with clients, advisers, banks, funds
• It is a planning tool for the future It provides a step by step approach towards reaching a decision
• It is a working manual for you the entrepreneur
• It is a checklist

One of the most important things you will do for your business is to develop your business plan.

Start writing your business plan now by using our LEO Business Plan Template