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    Essay On The Importance of A Business Plan

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    Yopp Huno
    1) A business plan provides an intricate overview of all aspects of a business including its goals, plans, budget, market, and competitors. 2) Creating a business plan forces entrepreneurs to thoroughly consider their prospective business and fine-tune their vision and objectives, which helps generate new ideas. 3) Entrepreneurs view the business plan as a living document that grows along with the company, providing a standard to measure achievements and ensure the business stays on track to reach its goals.

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    Essay On The Importance of A Business Plan

    Uploaded by

    Yopp Huno
    44 views2 pages
    1) A business plan provides an intricate overview of all aspects of a business including its goals, plans, budget, market, and competitors. 2) Creating a business plan forces entrepreneurs to thoroughly consider their prospective business and fine-tune their vision and objectives, which helps generate new ideas. 3) Entrepreneurs view the business plan as a living document that grows along with the company, providing a standard to measure achievements and ensure the business stays on track to reach its goals.

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    Essay on the Importance of a Business Plan

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    Essay on the Importance of a Business Plan

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    1) A business plan provides an intricate overview of all aspects of a business including its goals, plans, budget, market, and competitors. 2) Creating a business plan forces entrepreneurs to thoroughly consider their prospective business and fine-tune their vision and objectives, which helps generate new ideas. 3) Entrepreneurs view the business plan as a living document that grows along with the company, providing a standard to measure achievements and ensure the business stays on track to reach its goals.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    44 views2 pages

    Essay On The Importance of A Business Plan

    Uploaded by

    Yopp Huno
    1) A business plan provides an intricate overview of all aspects of a business including its goals, plans, budget, market, and competitors. 2) Creating a business plan forces entrepreneurs to thoroughly consider their prospective business and fine-tune their vision and objectives, which helps generate new ideas. 3) Entrepreneurs view the business plan as a living document that grows along with the company, providing a standard to measure achievements and ensure the business stays on track to reach its goals.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    Essay on the Importance of a

    Business Plan

    Realized by: Azal Chhibane

    A business plan is a detailed outline of every aspect of a business,


    usually necessary at its onset, a business plan is more or less a super
    intricate futuristic bird’s eye view of a business, and it touches on
    essential areas of the establishment; its goals, plans, budget, market
    and competitors.

    Entrepreneurs stress the importance of business planning in the


    creation of their companies, many of them tell stories of how creating
    their business plans elucidated their ideas and gave them the direction
    they lacked hitherto. Creating a business plan makes any entrepreneur
    consider the prospective business thoroughly, pondering to decide and
    fine tune the vision and objectives of a company has the effect of
    ‘bringing it home’ to one mentally, it can cause a flush of ideas for the
    entrepreneur because the business has been defined according to
    clearly stated realistic targets.

    Entrepreneurs refer to a business plan as a living document,


    recounting how it grew and expanded correspondingly with their
    companies. A business plan serves more or less as a map for the
    establishment, it gives the entrepreneur and the team a standard to
    measure achievements, to see where they are going and whether their
    current direction aligns with the destination, it is a satisfying
    experience for any entrepreneur to see ones ideas come to life, even if
    it almost never happens as we stated on paper in the beginning.
    A business plan guides the entrepreneur in detailing every aspect of
    his/her business, its product, production, market, competitors and
    profitability, investors can study the business plan and see through the
    super intricate futuristic bird’s eye view of the entrepreneur, how the
    business will grow and function, thus can confidently decide whether
    to invest or otherwise. A well prepared business plan is one of the
    most powerful tools in selling a business idea.

    A business plan is a crucial first step in any establishment, although


    the prevailing perspective is that a business plan is a complex juggling
    of ideas, facts and figures beyond the scope of the average
    entrepreneur, a business plan is simply a practical representation of
    any business idea.

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