Business Plan Insights
Business insights What is a business plan?
Business plan: is a detailed plan of action that sets out the nature and strategy of an enterprise. This means that the business plan provides a description of the proposed enterprise.
It provides information about the entrepreneurial team, the organizational structure, the form of enterprise, the products or services the enterprise wants to offer, the location of the enterprise, the target market, the capital contribution of the owners and the need for external capital, as well as a summary of the market and profit analysis.
The entrepreneur uses the business plan to put all his or her ideas and findings on paper alternative structure Guidelines for writing a business plan When writing the business plan, the entrepreneur should keep the following guidelines in mind: Keep the plan relatively short. Organized and package the plan appropriately.
Orient the plan towards the future. Avoid exaggeration. Highlight critical risks. – Give evidence of an effective entrepreneurial team. Do not over diversify. Identify the target market. Write in the third person. Capture the readers interest.