What is a Business Plan?

  • Tool used to convert idea into a reality for either a new business or for changes to an existing business
  • Keeps everyone focused on same goals
  • Provides a necessary analysis of all aspects of the business
  • A business plan is a dynamic document – For each business stage, the business plan must be updated

Business Plans are Written For:

  • Owners
  • Business managers
  • Lenders and investors
  • Consultants and employees

Basic Components

  • Executive Summary
  • Business description
  • Operations
  • Marketing plan
  • Management
  • Financials
Next section: Executive Summary

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