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A business plan contains the main ingredients that you and your employees will use to increase your chances of running a successful business.
Whether you are starting a new business or buying an already established business a carefully prepared business plan is critical to your success. Before you write the business plan, gather some background information to help you form the basis of your plan. In this section, you will find questions that you need to ask yourself, your colleagues, your clients and your competitors to assist you to formulate your business plan.
BUSINESS PLANNING GUIDE
Below is an outline for a business plan. Use this model as a guide when developing the business plan for your business.
After having worked through this Business Planning guide you should be able to:
· Understand the role of the business plan.
· List several reasons for developing a business plan.
· Identify sources where you can get help in developing a business plan.
· Identify the type of information to include in the business plan.
· Prepare an outline for a business plan.
THE BUSINESS PLAN – What It Includes
What goes in a business plan?
The body of the business plan can be divided into four distinct sections:
· Description of the Business
· The Marketing Plan
· The Financial Management Plan
· The Management Plan - Added to the business plan, this should include the executive summary, supporting documents and financial projections.
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