Overview
A business plan is a document that describes in detail how a business, usually but not necessarily, a new one, goes to realize its goals. It describes a new business, its products or services, how it’ll earn money, leadership and staffing, financing, operations model, and other details that are essential to both operation and success. While a business plan is required by anyone seeking funding, whether, from financial institutions or investors, it’s recommended for all start-ups because it is the business roadmap.
The business-plan-writing-process also can help an entrepreneur uncover concept weaknesses, market misperceptions, or other specifics that may cause a shift in how the business is positioned or built. It contains the background of founders, business model, industry analysis and placement, and estimates of monetary projections over a period of certain years. All venture capitalists, bankers, investors, and PE funds will invite a business plan invariably.
The business-plan-writing-process also can help an entrepreneur uncover concept weaknesses, market misperceptions, or other specifics that may cause a shift in how the business is positioned or built. It contains the background of founders, business model, industry analysis and placement, and estimates of monetary projections over a period of certain years. All venture capitalists, bankers, investors, and PE funds will invite a business plan invariably.