What is a Business Plan?
A Business Plan is a description of the business, market, and expected financials. Plans may be used to increase sales and profitability, outperform competitors, and used to obtain bank loans or investor funding.
For startup founders and small business owners, the Business Plan is a fundamental resource for managing the business and making educated business decisions about the company’s future.
There’s no need to reinvent the wheel, though. There’s a standardized set of information and variables for most small businesses including the financial model, market research, and basic business overview that most executives are familiarized with.