A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them. It may also contain background information about the organization or team attempting to reach those goals.
Identify your audience. A good business plan should be written from the prospective of the audience. First, you need to decide on the purpose the plan. Are you trying to persuade an investor to take on your project or communicate the future plans for the company? The purpose of the business plan will affect the style and content so make sure you are clear on this before beginning. A good business plan needs to be tailored to the specific requirements of the target audience in order to be engaging.
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.
An exit strategy- A business plan becomes perfect only when you write a good exit strategy for the investor. It is important to note that investors generally have a 3 year horizon within which they want to exit. The author is the partner at IntelligentQ. IntelligentQ specializes in Integrated Marketing Communications: Business Content, Sports Content, Business Plans.
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