Business Plan Essay

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Starting a business can be easy or difficult, depending on how one will execute. The only key to make this endeavor to start a business work is to have a business plan. Plan ahead. This is all that is needed to make every goal and aim in the entrepreneurial world a success. Thus it is imperative to come up with a great business plan. What Is a Business Plan? Coming up with a business plan is the first big step in implementing any business. This lays down the aims as well the details of the endeavor. This includes an outline of the goals, expected expenditures, promotion materials and even the exit plan. It serves as a map and gauge as the business proceeds. It also helps the company be constantly reminded of priorities. Furthermore, the business plan is also a requirement to most people who seek assistance. …show more content…

It will also depend on what is intended by the entrepreneur. There may be no one formula but here are some of the guidelines that will help in coming up with a great output for the new business - 1. Vision and Mission In any organizational endeavor, the vision and mission is the first thing to take care of. This shall indicate the direction of the company. 2. Inception Give a short summary of how the plan or company came into being. What is the basis of the idea for the business? Who are the people responsible for the idea? Why did you decide to create the business? 3. Goals of the Company Provide the short-term and long-term goals. What are the aspects to focus on immediately? What are areas will have to be addressed in the long run? How long will it take for the company to expand? When is the expected date of realizing the profits? 4. Products and Services It is important to give special attention in presenting the products and services the company plans to offer. Even at the planning stage, these should have been materialized

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