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By Catherine R. Sands on June 05 2018 06:23:55
Business plans are decision-making tools. The content and format of the business plan is determined by the goals and audience. For example, a business plan for a non-profit might discuss the fit between the business plan and the organization’s mission. Banks are quite concerned about defaults, so a business plan for a bank loan will build a convincing case for the organization’s ability to repay the loan. Venture capitalists are primarily concerned about initial investment, feasibility, and exit valuation. A business plan for a project requiring equity financing will need to explain why current resources, upcoming growth opportunities, and sustainable competitive advantage will lead to a high exit valuation.
A business plan is a blueprint for how your business will run and reveals what future direction your business will take. Understandably you will want to be careful who you show your plan to and avoid your competition seeing it.
An excellent place to start your search for good examples of business plans is the Business Network office in your region. Our Business Information Officers are able to provide you with access to materials that can be tailored to your needs. Your local Business Network centre offers a wealth of information, including practical tools, guides, and specific examples on how to start the planning process.
Don’t make common mistakes. I’ve seen thousands of business plans, good and bad, and I can tell you that avoiding these common business planning errors will put you far ahead of the curve.
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