Business plans are documents used for planning out a business. They can range in size from a simple few sentences to more than 100 pages with formal sections, a table of contents and a title page. Comprehensive business plans have a few sections that are broken down into several components that may include the overview of the plan, description of the business, market strategies, competition analysis, operations and management, financial information, etc.
The main purpose of a business plan is to define what the business is, what it intends to be over time and the goals the company wants to reach.
It is also used to attract financing and team members. It also acts as a management tool that can be referred to regularly to ensure the business is on course with meeting goals, sales targets or operational milestones.
This work is licensed under a Creative Commons Attribution 4.0 International License.
by Sofia Rodrigues on 2 July, 2015 .