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A business plan is written summary of a business man’s proposed business, plan is an operational and financial details, plan is marketing opportunities and strategy and also plan is .
A business plan serves several important functions to someone who is thinking of starting a business. A business plan will make you look at several things you might not have thought of if you try to start a business without one (Paulson, p. 35).
‘Business plans are often the starting point for would-be entrepreneurs as they outline their business ideas and develop a plan to seek financing. It is a formal document which describes a good opportunity and outlines a strategic approach to pursue the opportunity.’ (Becherer and Helms 80). Business plan is a blueprint of any business giving a detailed outline of business concept, business opportunity, competitive landscape, key to success and people who are or will be involved. Therefore it acts as an important sales tool which can be used to borrow money or gather support to launch a new product or service.
Business Plan. Introduction. To assess the viability of Star of India’s business plan, it is useful to consider three aspects of the plan: Suitability – concerned with whether the business plan fits the internal and external environment that Star of India operates in. Feb 25, · Business Plan for a Startup Business The business plan consists of a narrative and several financial worksheets. The narrative template is the body of the business plan. It contains more than questions divided into several sections.