Reasons for using a business plan

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Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker. A business plan is a written set of achievable goals and the means to attaining them. Business plans can be a great way to keep your business on track and maximize productivity in the workplace, but only if done correctly! Before you even begin writing a business plan, you should decide who it will be targeted at. Knowing the target audience of your business plan will help you keep the information inside both relevant and appropriate to the reader.
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How to write a business plan: Free template, tips, and examples

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Pros and Cons of Writing a Business Plan from Scratch - Entrepreneurship In A Box

Business plans are dead — or are they? For many entrepreneurs, the business plan is an outmoded document that gets created mainly for the benefit of VCs and bank loan officers. Bootstrappers rarely think they need one to get by. But the fact is that a business plan — even just a one-pager with a few financial projections — can be a valuable internal tool. A roadmap for even the smallest or earliest-stage idea. It can foster alignment, set the tone for the business and even help you craft your brand messaging. Think of it as a roadmap.
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How To Create A Business Plan

Recently someone asked me why they needed a business plan if they were getting all the funding they needed from friends and relatives. It sounded to me as if they were thinking of a business plan as just a fund-raising tool. In fact, a business plan is much more than that: It's a tool for understanding how your business is put together. You can use it to monitor progress, hold yourself accountable and control the business's fate.
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Editor's Note: This post was originally published in September and has been updated with new content that highlights the importance of proper business planning in 's economy. What is a business plan? For people who are just starting out and forming their own company, whether it's a small freelance business at home or a new venture with an office and a starting pool of employees, there's a lot of importance to a business plan. It is a road map, an outline, a document that explains what your business is, what the goals of the enterprise are, and how exactly it will set about achieving those goals.
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