Question
What is a business plan?
Interesting Question? 
(2) 
(6)
(2) (6)
Answers (1)
8th Nov 2009 by Amelia Timbers
A business plan is a document an entrepreneur creates describing the business they plan to start. A business plan normally covers a variety of elements, including the predicted target market and size of market, the mechanism by which the business will make money, the value proposition, forecasted cash flows and pro forma financial statements (especially forecasted profit and loss), explanations about how the product can be differentiated from its competition, a SWOT analysis, and more. A business plan's purpose is to help the entrepreneur "think through" their business, and to persuade investors into financing, including equity investors and banks. It is a critical document for an entrepreneur to create before endeavoring to start a business. Many new, small businesses fail because they have not thoughtfully planned various aspects of their business, created a "Plan B" for poor circumstances, or thoroughly thought through their future businesses. This link: http://www.sba.gov/smallbusinessplanner/plan/writeabusinessplan/SERV_WRRITINGBUSPLAN.html leads to the Small Business Association's small business plan recommendations. The Small Business Association is a great place to begin researching how to start a small business and provides numerous resources to support entrepreneurs.
A business plan is a document an entrepreneur creates describing the business they plan to start. A business plan normally covers a variety of elements, including the predicted target market and size of market, the mechanism by which the business will make money, the value proposition, forecasted cash flows and pro forma financial statements (especially forecasted profit and loss), explanations about how the product can be differentiated from its competition, a SWOT analysis, and more. A business plan's purpose is to help the entrepreneur "think through" their business, and to persuade investors into financing, including equity investors and banks. It is a critical document for an entrepreneur to create before endeavoring to start a business. Many new, small businesses fail because they have not thoughtfully planned various aspects of their business, created a "Plan B" for poor circumstances, or thoroughly thought through their future businesses. This link: http://www.sba.gov/smallbusinessplanner/plan/writeabusinessplan/SERV_WRRITINGBUSPLAN.html leads to the Small Business Association's small business plan recommendations. The Small Business Association is a great place to begin researching how to start a small business and provides numerous resources to support entrepreneurs.
Like This Answer? (0) (0)
This answer is the subjective opinion of the writer and not of FinancialAdvisory.com
(0) (0)
6th Nov 2009 In Business
1 Answers | 49 Views
Subjects: business plan,