What is a good business plan?
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Author: Peter Caye
A good business plan is
A good business plan is a working partner. Treat it well and you will be rewarded. A good business plan is much more than back-up data for a loan application. Would you start a long trip without a road map, or would a builder undertake a project without a set of drawings or blueprints? A good business plan is a mindset more that a document. An effective business plan could be thought of as the conscious choices the leaders of an organization make about how they will meet the demand and opportunities of the business environment.
A good business plan is a dynamic one and includes plans for change. Take the time to step outside your business regularly, to redefine your most important tasks, and keep yourself on track - even if the nature of the dream has changed. A good business plan is essentially required for starting and running a successful business. It is a kind of blue print that gives guidelines to move step by step ahead. A good business plan is sensible, it is detailed, it understands what the reality of the world is. It's too easy to do a good business plan which is based on dreams and made up numbers.
A good business plan is informative, factual and detailed - able to accurately forecast sales, growth, and expenses. A good business plan should leave readers - whether a banker, venture capitalist, private investor, or company manager - fully satisfied with the information they just read. A good business plan is all about getting results and improving your company or business. A good business plan is a blueprint for your life as an owner of a horse business. It should be dynamic, and should be updated on an annual basis.
A good business plan is absolutely necessary, if you wish to start a new business. A good business plan is invaluable to a company's future success. Not only can it serve as a vehicle to help the company raise capital it is also a great strategic planning document that can be used to chart a company's future course. A good business plan is an asset.
A good business plan is an essential tool for starting and successfully managing a business. The typical business plan has detailed descriptive information and financial data. A good business plan is an essential management tool which allows you to forecast, and hence avoid, many potential pitfalls. Whether you are expanding an existing operation or starting a new venture the right plan, well presented, has a much stronger chance of success in securing the right funding. A good business plan is analytical and factual. Investors will come to their own conclusions.
A good business plan is an elaboration of a good pitch. A good pitch is not a distillation of a good business plan. A good business plan is the best means of impressing potential financial backers. Indeed, without such a plan no bank or venture capital house will consider a loan for start-up or expansion. A good business plan is the key to setting up a successful business. Once a plan is prepared, the entrepreneur faces various challenges while implementing the plan.
A good business plan is superior due to its credibility. The factors that go into making a credible business plan include market figures, financial calculations, technical descriptions, a description of the management group and the necessary references. A good business plan is more than a document; it's a representation of the life of your company. It not only helps you get off the ground, it serves as your operating bible--a document that you turn to daily for help with strategy, focus, and all of the challenges that come with operating a business.
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