Three purposes of a business plan

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What is the Importance of a Business Plan?

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3 Types of Business Planning - Glenn Smith CoachingGlenn Smith Coaching

There are two types of business plans: a traditional business plan and a one page business plan also called a lean business plan. To write a great business plan, you need to finalize your business idea, research your target market, determine whether you need a traditional business plan or a lean business plan, document your business, build a strategic marketing and sales plan, identity your target audience, and fill in the other relevant details. This definitive step-by-step guide on how to write a business plan will help you to get started with great insights, free templates for each stage of your business plan, and an actionable step-by-step process. A business plan identifies, describes, and analyzes a business opportunity by examining the technical, economic, and financial feasibility for a business.
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Top 10 Components of a Good Business Plan

What is a business plan? In its simplest form, a business plan is a guide—a roadmap for your business that outlines goals and details how you plan to achieve those goals. While every business has huge benefits to gain from going through the business planning process , only a small subset needs the formal business plan document required for seeking investors or supporting a commercial loan.
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