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What is a buisness plan??

I mean I know what they are kinda but .....no I don't really...help me...

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Anonymous

Asked by Anonymous at 11:13 PM on Apr. 5, 2011 in Money & Work

Answers (5)
  • A business plan is a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals.

    specialwingz

    Answer by specialwingz at 11:22 PM on Apr. 5, 2011

  • A business plan is any plan that works for a business to look ahead, allocate resources, focus on key points, and prepare for problems and opportunities.
    Unfortunately, many people think of business plans only for starting a new business or applying for business loans. But they are also vital for running a business, whether or not the business needs new loans or new investments. Businesses need plans to optimize growth and development according to priorities.


    vbruno

    Answer by vbruno at 11:36 PM on Apr. 5, 2011

  • It is basically something you will be able to show an investor that gives an overview of what you plan to do, what your competition is, and how you will be able to make the business profitable. The investor will want to know that your idea for a business is viable, that you won't be overrun with competition, and that you will therefore be able to pay back your loan. It should include what your start up expenses will be and how quickly you reasonably expect to be able to draw a profit.
    Mom-2-3-Girlz

    Answer by Mom-2-3-Girlz at 11:44 PM on Apr. 5, 2011

  • vbruno is right...even if you don't need a lender, you still need to have a strategic plan and revisit it regularly to make sure that you are on the right track with your spending and goals.

    I was speaking from what a lender would want to see.
    Mom-2-3-Girlz

    Answer by Mom-2-3-Girlz at 11:45 PM on Apr. 5, 2011

  • Think of a business plan as a road map for starting, and running your business. It should be considered a "work in progress", and revisited annually.


    SCORE can help you write a business plan:  http://www.score.org/index.html

    rkoloms

    Answer by rkoloms at 5:09 AM on Apr. 6, 2011

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