ENTREPRENEURSHIP

Detailed explanation-1: -A business plan is a document created by a company that describes the company’s goals, operations, industry standing, marketing objectives, and financial projections. The information it contains can be a helpful guide in running the company.

Detailed explanation-2: -The users of a business plan are: Venture Capitalists. Prospective partners. Bankers.

Detailed explanation-3: -As an entrepreneur, having a business plan helps you define and focus on your business ideas and strategies. You not only concentrate on financial matters but also on management issues, human resource planning, technology, and creating value for your customer.

Detailed explanation-4: -The best time to write a business plan is any time you can benefit from more focus and direction. This might be when you’re in the early stages of exploring a new idea, when you’re ready to commit to your idea, when you’ve been running your business for years, or even a combination of all three.