What is a business plan?
The business plan is a written document containing a thorough analysis of investment in business, future business results, and different solutions for potentially risky situations in the future.
So, a business plan is being developed to anticipate future events and ways of adjusting the business environment to the environment and to reduce the degree of risk, time and resources.
The better we have predicted future events and foreseen solutions to future problems, the better the chances of achieving the targeted goals.
The business plan is an important document and you should make it first and foremost for yourself, and only then for the requirements of the environment. Highlight your comparative advantage.
Business plan principles
The business plan must be based on several principles:
- It is easy to read and understandable
- It is oriented towards the market rather than to the technology of work or the capacity of entrepreneurs
- Contains an assessment of the impact of competition and
- Have a convincing and realistic development vision.