Business Plan is a written document that describes the core business objectives and the roadmap to achieve them over a set period of time. It is designed to explain to all stakeholders – the promoters, investors and employees – that how it is planned to generate income and make the business sustainable. A business plan includes information about the goals, management team, marketing plans and financial forecasts. It further helps to review the actuals with the planned and take necessary course corrections. Above all, business plan is a vital tool for fund raising through angel investment, venture capital, private equity or any other sources.
Facts about Business Plan
Business Plan can include any information / data on the venture. However, there are certain basic and key data that are to be included namely, the business objectives, the pain points addressed, uniqueness, market, competition, sales strategy, team, financials and intellectual property, if any.
Basics of Preparation
The prime effort in preparing a business plan is ensuring that every part of the plan is linked to the objectives of the business. Be clear, concise, consistent and there shall be no dithering in the presentation.
Please share the details below: