A business plan is a formal written document containing the goals of a business , the methods for attaining those goals, and the time-frame for the achievement of the goals. It also describes the nature of the business, background information on the organization, the organization's financial projections, and the strategies it intends to implement to achieve the stated targets. In its entirety, this document serves as a road-map a plan that provides direction to the business. Written business plans are often required [ by whom?
A company business plan includes specific tactics for reaching objectives set in the business strategy. A business plan is merely a "plan for the business," where the business may be a profit-making company, a government organization, or a non-profit organization. A business plan can also represent a product line, an individual product, a line of service products, or some other part of a larger business entity. For companies in private industry, the heart of the business plan is a business model and business strategy which describe how and where the company expects to make and spend money. All other parts of the business plan stem from the model. Business plans usually look forward in time for a period of one to three years to a "planning horizon," which moves forward periodically with reviews and updates.
What is a business plan? How do I write a business plan? Where can I find suitable business plan templates? Please read our article.
Tasks, to-do lists, meetings, and more. Amidst that rush, the idea of writing a good business plan—much less following a business plan template—often feels time-consuming and intimidating. After all, when done right, business plans have enormous payoffs.