Business Plan

A business plan is a formal written document that furnishes:

  • Company’s vision, mission and goals
  • Marketing & Advertisement
  • Operation & Working
  • Financial Projections
  • Time-frame to achieve the goals

Important Point: While it’s a good idea to give as much detail as possible, it’s also important that a plan be concise to keep a reader’s attention to the end.

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Goals Of A Business Plan:

A Business plan has following goals:

  • To evaluate feasibility of an idea
  • To develop a strategy
  • To assist in obtaining approvals
  • To allocate resources wisely
  • To establish credibility
Why do Business Plans fail?

A business plan is likely to fail if:

  • You do not stick to the plan
  • Leadership is not strong
  • Miscalculate the financial projections
  • Ignore market fluctuations
  • Unable to pivot a new course as per your needs
Who Reads the Business Plan—And What Are They Looking For?

There are two primary audiences for a firm’s business plan


What They are Looking For
  • A Firm’s Employees

A clearly written business plan helps the employees of a firm operate in sync and move forward in a consistent and purposeful manner.

  • Investors and other external stakeholders

A firm’s business plan must make the case that the firm is a good use of an investor’s funds or the attention of others.

Types of Business Plans
Components Of Business Plan:

A business plan is composed of 10 essential elements:

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