ENTREPRENEURSHIP

Detailed explanation-1: -The primary purpose of a business plan is to define what the business is or what it intends to be over time. Marketing plans can be shared with the executive candidates or desired partners to help convince them of the potential for the business, and persuade them to join the team.

Detailed explanation-2: -What is the purpose of a Business Plan? ✓ The purpose of a Business Plan is to identify, describe and analyze a business opportunity and/or a business already under way, examining its technical, economic and financial feasibility.

Detailed explanation-3: -The 3 most important purposes of a business plan are 1) to create an effective strategy for growth, 2) to determine your future financial needs, and 3) to attract investors (including angel investors and VC funding) and lenders.

Detailed explanation-4: -a business plan provides an investor with something to react to. a business plan is a selling document that enables a company to present itself to potential suppliers and business partners.