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.
A business plan serves three purposes: it explains the organization's strategy to execute it over the long term, obtains funding from investors, and aids in projecting future company demands[LOR1] .
A business plan has many functions: - It assesses an idea and its viability - It is a communication tool for use with clients, advisors, banks etc. - It is a planning tool for the future - It helps create a step-by-step approach to reaching a decision - It is a working manual and checklist
A business plan should include:
- An executive summary
- Product/Service overview
- Management/ Team Layout
- Markets and Competition
- Marketing & Sales Plans
- Business System and Organisation (Operations)
- Implementation Schedule
- Opportunities and Risks
- Financial Planning and Financing
Click on the link below to see an outline guide of the areas you should cover in your Business Plan.
Please find a Business Plan template below.
Please note that this template is intended to act as high-level guide only.
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