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By Mary R. Badger on June 12 2018 17:03:56
Start from the very beginning understanding that your business plan ought to be specific to your business needs and objectives. Every business ought to have a plan, but not every business needs a full formal plan with carefully crafted summaries and descriptions.
Even though the summary will be read first, it is easiest to write it last – providing an overview of the complete business plan. The aim is to draw the reader in, so what you include will depend on your audience. If you are seeking funding you need to really sell your business idea in the summary.
A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them. It may also contain background information about the organization or team attempting to reach those goals.
Prospective business owners sometimes wonder if they really need to write a business plan, particularly if they’re not seeking a bank loan. However, if you want to clarify your thinking, set a tone and direction for your business, and a deeper understanding of your market, the answer is certainly ‘yes you do’.
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