THE BASICS ON HOW TO DEVELOP A BUSINESS PLAN
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Download free The Basics On How To Develop A business Plan.pdf Whether your company is organized as a sole proprietorship small business, corporation or nonprofit, a wellwritten business plan is considered your most important roadmap to success. The document may vary in length, but should be comprehensive and include a specific timeline: at least six months of detailed strategy, a year or two of general planning, and a vision about where the business is headed for the next five years.
A business plan has to answer some critical questions about the new business venture.
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A business plan has to answer some critical questions about the new business venture.
- Is this a viable business idea?
- Is there a market for this product or service?
- What will it take to produce and deliver the product or service (materials, resources, personnel)
- Who will buy it, how much, how often and how will your potential customers find out aboutyou?
- Who and where is your competition?
- Your cash flow projections should cover both the startup phase of your business and ongoing
- operations. How much will it take to open the doors?
- § And, what will it take to cover direct costs, overhead and expenses, and still clear a ‘profit?’
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