Business plan

A business plan is a document that states, in a clear and reasoned manner, what a business seeks to achieve and how the objectives will be attained. It is a convenient tool for systemically assess your business idea and its future prospects.

Also, try to use financial spreadsheet for a business plan, that will help you to evaluate the prospects and results of the business you are planning to start.

What is the purpose of writing business plans?

• Justifying and verifying a new idea, assessing prospects of a business;
• Comparing projections with actual achievements;
• Calculating the fund’s requirement;
• Assessing risks related to borrowed or own investments in a business;
• Justifying and obtaining loans;
• Finding partners or providing existing partners with information.

Key questions to be answered by writing a business plan:

• WHO we are?
• WHO we wish to become?
• HOW can we achieve this?
• HOW we will measure the progress made?