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A business plan is the design and construction plan for a great small business. If you wanted to build a house, you wouldn’t walk over to an empty lot and just start nailing boards together. You’d follow a blueprint that tells everyone what the finished product should look like and how to build the home. Essentially, a business plan serves the same purpose.
A business plan contains sections such as: Marketing Plan, Startup Expenses and Capitalization, Management and Organization, Products and Services, and Operational Plan.
A business plan is usually developed around the answers to three common questions:
And is usually written for one or more of these five reasons:
A great deal of time and effort should be spent planning before your new company’s products and services ever reach the market. You need a good foundation and planning before you invest all your time and money.
To get started, check out our free One-Page Business Plan – happy planning!Visit the GoForth Blog