If there are crucial elements of the business plan that take up a lot of space—such as applications for patents—they should be referenced in the main plan and included as appendices.If there are any especially interesting aspects of the business, they should be highlighted and used to attract financing.Business plans help companies identify their objectives and remain on track.Tags: Essay Writing Spm 2011Writing Proper Thesis StatementsEssay On Ramadan FestivalResearch Paper HandoutsExample Of Problem Solving With SolutionThesis Development CommunicationInternet Addiction EssayPlagiarism Essay Title
A business plan is a written document that describes in detail how a business—usually a new one—is going to achieve its goals.
A business plan lays out a written plan from a marketing, financial and operational viewpoint.
They also act as a means to get people to work with and invest in the business.
Although there are no right or wrong business plans, they can fall into two different categories—traditional or lean startup.
Products and services: Here, the company can outline the products and services it will offer, and may also include pricing, product lifespan, and benefits to the consumer.
Mini Business Plan
Other factors that may go into this section include production and manufacturing processes, any patents the company may have, as well as proprietary technology.
The idea behind putting together a business plan is to enable owners to have a more defined picture of potential costs and drawbacks to certain business decisions and to help them modify their structures accordingly before implementing these ideas.
It also allows owners to project what type of financing is required to get their businesses up and running.
Sometimes, a new business plan is prepared for an established business that is moving in a new direction.
A business plan is a fundamental tool any startup business needs to have in place prior to beginning its operations.