A business plan describes ‘what your company is’ and ‘why you are in the business’
A business plan is the written ascendant of a company that conveys the whole big picture about the company. It is an elaboration of the business model and it usually prepared for 3-5 business years. It involves a set of goals and plans to achieve the goals.
A business plan should comprise the detailed description of the followings
The descriptions begins with the product or service that the company looking for and the niche that you intended to start the firm, customers that the company focused on, market study, competitive comparison, business model, financial plans, employee list and duties etc. the list will continue till it covers all of the business sections.
When someone reads a Business plan, the reader must get a clear picture about ‘what the company is’, ‘how the company works’ and also a suppositious winning percentage. This kind of business plans will help in many stages of a business. Convincing an investor, impressing the customers, inviting shareholders, etc are included in the advantages of a quality Business plan.
The preparation of a business plan begins with the details in the business model and goes through the market study and end with a clear strategic plan. The stages in the preparation of a business plan are so difficult, but each stage will make the future working easier. How much we made the business plan clear, that much the business will be simpler.
Preparation of Business plan presentation is also done during preparation of Business plan which can be used for pitching investors or awakens the interests of the customers.
In short, Business plan is the set of business goals, analysis of niche and the formula to attain the goals.