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What is a business plan and why you need one
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[QUOTE="Ayuba Ernest, post: 241623, member: 70169"] A business plan is a document that outlines the goals and objectives of a company, and how it plans to achieve them. It also includes detailed financial information and forecasts. A business plan is essential for any company, whether it is just starting out or has been in operation for years. A business plan is a living document that should be updated regularly as the company evolves and grows. It can be used as a tool to track progress and measure success. Here two good reasons why you need a business plan. 1. A business plan is a roadmap for your business. It outlines where you are starting from, where you want to go, and how you plan on getting there. This document can be used to help make important decisions, track your progress, and keep your business on track. 2. A business plan helps you get funding. In order to secure money from investors or a bank, you will need to have a solid business plan in place. This document shows that you have done your homework, are knowledgeable about your industry, and have a plan for making your business a success. Other reasons include; * Define your business goals and objectives * Identify your target market * Develop a sales and marketing strategy * Evaluate your competition * Create a financial forecast [/QUOTE]
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What is a business plan and why you need one
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