1Business

Business Plan Development

Business Plan Development

Whether you’re launching a startup, expanding an existing firm, or initiating an internal project, you need a business plan to help you sell your ideas, guide decisions, and manage growth.

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The vision and the business

A good business plan: 

  • Explains a business opportunity
  • Identifies the market to be served
  • Provides details about how the organization plans to pursue its goals
  • Describes the unique qualifications that the management team brings to the effort
  • Explains the resources required for success
  • Gives a forecast of results over a reasonable time horizon

Toward a Better Business

A business plan helps executives manage the organization, allocate resources, focus on priorities, and prepare for opportunities and problems. It also aids potential investors, partners, and others in understanding the organization’s strategy and its chances at success.

As a living document, a business plan requires constant reviews and revisions. The management team must frequently update the business plan to reflect changes in market conditions, evolving strategies, and performance. In this way, a business plan continues to serve as an invaluable resource for leaders as they make strategic, financial, and operational decisions.