ENTREPRENEURSHIP

Detailed explanation-1: -Outside readers will mostly be those who are sources of funding, although professional advisers will read the plan, and occasionally even a supplier, distributor, or others who have a business interest in the company may want to read it in order to understand how the company runs so he or she can better serve it.

Detailed explanation-2: -A business plan should be written whenever an individual is considering a new venture. Knowing where you’re going and how you will achieve your business goals is the most integral part of business planning. Furthermore, if you’re looking for financing or to attract investors you will need a way to relay your concept.

Detailed explanation-3: -A business plan is a document that is prepared by the entrepreneur, which describes all the relevant internal as well as external information that is required in starting a new business.

Detailed explanation-4: -Customers rarely ever read a company’s business plan, so you should probably have your miniplan available for these occasions.