• Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint

Summary

In this chapter, you've learned that writing a business plan is a necessary and important process for you to analyze your business idea, your customers, your competition, and your marketplace. It also supplies a plan to execute your business idea. Writing a business plan focuses your thoughts and helps you refine your goals, identify risks, organize your thinking, set priorities, allocate resources, focus on key points, and prepare for problems and opportunities. It also shows those who might fund your business idea—investors, bankers, and management—that your idea is worthy of financial or management support.

You also learned that a business plan is both an organizing tool and a selling document. This chapter outlined several ways that business plans can be used, and it discussed the three types of business plans, their structure, and their purpose.


PREVIEW

                                                                          

Not a subscriber?

Start A Free Trial


  
  • Creative Edge
  • Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint