Traditionally business plans have been highly confidential and quite limited in audience. The business plan itself is generally regarded as secret. An open business plan is a business plan with unlimited audience. The business plan is typically web published and made available to all. In the free software and open source business model, trade secrets, copyright and patents can no longer be used as effective locking mechanisms to provide sustainable advantages to a particular business and therefore a secret business plan is less relevant in those models.
Whenever you plan of starting a new business, you need a good business plan. A business plan is written to structure your business concepts and ideas into paper so that it becomes easy for investors or banks to understand and finance your needs.
Business Overview- This section will cover the objectives, mission and vision of the business. The goals of the business should be properly outlined in this section.
Executive Summary : Your business plan should start with an executive summary. This will outline the purpose of your enterprise, for example to sell handcrafted wooden furniture, and how you will achieve this goal. It should be brief and to the point.
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