By Dixie V. Martelli on August 06 2018 00:28:11
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.
That doesn’t mean you have to bust out Word and start the plan from scratch. A template is great--you probably aren’t doing anything that hasn’t been done before, so it provides a proven structure for your plan. Pretty much everything on it can be customized.
Effective business planning can be the key to your success. A business plan can help you secure finance, prioritise your efforts and evaluate opportunities. It may initially seem like a lot of work; however a well prepared business plan can save you time and money in the long run.
Size your business plan to fit your business. Remember that your business plan should be only as big as what you need to run your business.
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