Business Plan

1617 WordsApr 7, 20137 Pages
Business Plan Basics The business plan is a tool to help you find and explore opportunities. Students at any level of education can use the concept of preparing a business plan as a method of exploring all kinds of ideas for starting a business. It is merely a series of questions that lead you to think about the requirements and the possibilities of any kind of business. Until you start to ask these questions, you aren't able to visualize the details necessary to be successful in a business. There are many different approaches to writing a business plan, some more complex than others. But the basic components of a business plan can be organized as follows: * providing a description of the business, * choosing the best marketing strategy, * identifying the management plan, and * analyzing the finances needed to start the business and make it successful. WHY DEVELOP A PLAN? The process of making choices is the most important reason for anyone to learn how to write a business plan. It is fun to think of yourself as a business owner, to dream about your successes, and to talk about your ideas. But when you have to answer the specific questions of a business plan, you must make decisions about the direction your business will take...decisions that may show you that this idea is not likely to be successful. But, no problem, then you can go back and make different decisions until you find a way to be successful. We sometimes hear people arguing that business owners don't always have a business plan...but perhaps they should. Once you are into the day-to-day operations of a business it may be too late. But most banks value a good business plan when you are looking for funds for your business. And in our educational system it is one tool that can be used to provide learning experiences that open students to the opportunities in their own community. As a

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