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Developing a business plan

Developing a business plan. What is a Business Plan?. A written document that describes all the steps necessary for opening and operating a successful business. What Does a Business Plan Do?.

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Developing a business plan

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  1. Developing a business plan

  2. What is a Business Plan? • A written document that describes all the steps necessary for opening and operating a successful business

  3. What Does a Business Plan Do? • Describes what your business will produce, how you will produce it, and who will buy your product or service • Explains who will run your business and who will supply it with goods • States how your business will win over customers from competitors and what your business will do to keep customers • Provides detailed financial information that shows how your business will succeed in earning a profit • Describes plans for the future growth of your business

  4. Purpose of a Business Plan • Explains idea behind business and spells out how product/service will be produced and sold • Sets specific objectives and describes how your business expects to achieve them • Describes backgrounds and experience of leadership

  5. Importance of Business Plan • Makes you think about all aspects of your business • May help you secure financing for your business • Helps you communicate your ideas to others • Can serve as a tool for managing your business

  6. Basic Elements of a Business Plan Outline of Business Plan • Introductory Elements • Cover Letter • Title Page • Table of Contents • Statement of Purpose • Executive Summary • Main Body • Introduction • Marketing • Financial Management • Operations • Concluding Statement • Appendix of Supporting Documents

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