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Business Plan for Starting an SMB

Business Plan Guide

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What is a Business Plan?


WHAT IS A BUSINESS PLAN?

Written document

Sets out basic idea underlying a business idea and related startup opportunities

Details the operational and financial aspects of a company

Also details its marketing opportunities and strategy

As well as its management’s skills and abilities

WHAT IS BUSINESS PLANNING?

Business planning is the process whereby a company makes the following decisions:

What products or services it will deliver

Where it will compete

Why the customer should do business with the company

How it will organize and reengineer itself to accomplish its goals

The plan may be presented through a planning document, but the business plan itself should be a set of management decisions about what a company will be doing to ensure success in the future.

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