A well written business plan is your visa to a successful self-revenue generating business or equity funding or bank loan, when presented in a proper business plan format that contains important business plan contents and includes important business plan components. A business plan document presents a clear picture of the business to the stakeholders. Business plan is also a good tool for risk analysis of the business.
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A well developed business plan includes important business components and gives details of each business process. Broadly, a business plan document includes information about business concept and business model, about the legal entity of the business under which you will implement and execute the business. Business plan also includes information about industry, markets and competition. Business plan presents information about management and key personnel of the business. Development of a business plan or a business plan design involves development of technical plan and strategy, operations plan and strategy, financial planning, marketing plan and strategy, digital marketing strategy, human resource plan and strategy, growth plan and strategy and exit plan and strategy. It is an art to build a business plan.
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It can be a 30-60-90 days business plan or 2 years business plan, 3 years business plan or a business plan for 5 years, depends on the requirement of the business or the stakeholders. A one page business plan is also common among stakeholders. One page business plan is a conclusive and a well written business plan document. It is also sometimes called as executive summary of a business plan. Though technically a 1 page business plan and an executive summary of a business plan are two different documents.
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Business plan can be written for an existing business to measure, track, grow and market the business. Business plan document can also be drafted to ensure smooth running of business processes.
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Business plan is drafted for a business startup to analyse markets, competition and industry. It is important rather essential that in business plan startup document all components of a business plan or business plan contents are thorough and are tested before you start a business. Business plan startup document ensures that your money, goodwill, time and efforts are utilised towards business profits, higher return of investment and business success.
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If you are not a professional business planner or you cannot afford to hire a professional, you can buy a business plan template and fill in the details as per the format mentioned in the business plan template. But you should be careful about the details and information you fill in the business plan template. The best use of business plan template is as a guide to plan the business processes. When you are done with planning, get your business plan document reviewed from a business plan expert.
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Hiring a business plan consultant is a wise investment for quick business success, because you do it right the first time. Therefore, you must get a business plan document drafted and developed by a business plan professional, because a professional will add a lot of value in terms of planning and strategy implementation. If you are writing a target based business plan or marketing goals based business plan, or international business plan, turnover based business plan, or you are adding a product line to your business, then it is advisable to hire a business plan consultant, because a business plan professional will take your business ahead by leaps and bounds..
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