ENTREPRENEURSHIP

Detailed explanation-1: -A business plan is a document that defines in detail a company’s objectives and how it plans to achieve its goals. A business plan lays out a written road map for the firm from marketing, financial, and operational standpoints. Both startups and established companies use business plans.

Detailed explanation-2: -Executive Summary This is the first section of your business plan and provides a quick overview of what you want to accomplish with your company. This should comprise the mission statement followed by a description of the services and/or products you provide. Use this basic outline: Description of the business.

Detailed explanation-3: -The appendix is used to provide supporting documentation for key components in your business plan, such as financial statements or market research. The appendix is also a great place to put any other tables or charts you didn’t want to put in the main body of the business plan.

Detailed explanation-4: -The purpose of a business plan is to help articulate a strategy for starting your business. It also provides insight on steps to be taken, resources required for achieving your business goals and a timeline of anticipated results. In fact, businesses that plan grow 30% faster than those that don’t.