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- A business plan is a document that describes a company's business activities and how it plans to achieve its goals1. The role of a business plan includes2:
- Critical decision-making: A business plan is especially important in making critical decisions.
- Smoothing things out: Creating your business plan will help you identify what are the bumps in the business and what are the questions that need to be answered.
- Preparing for the big ones
- Recognizing viability
- Setting objectives
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Key Takeaways
- A business plan is a document describing a company's business activities and how it plans to achieve its goals.
- Startup companies use business plans to get off the ground and attract outside investors.
www.investopedia.com/terms/b/business-plan.aspFive Key Roles Of A Business Plan
- 1. Critical decision-making A business plan is especially important in making critical decisions. ...
www.focus31.com/five-key-roles-of-a-business-plan/ - People also ask
A business plan is a document that details a company's goals and how it intends to achieve them. Business plans can be of benefit to both startups and well-established companies. For startups, a business plan can be essential for winning over potential lenders and investors. Established businesses can find one … See more
Any new business should have a business plan in place prior to beginning operations. In fact, banks and venture capital firmsoften want to see a business plan before they'll consider making a loan or providing capital to new businesses. Even if a business isn't … See more
The length of a business plan can vary greatly from business to business. Regardless, it's best to fit the basic information into a 15- … See more
While there are any number of templates that you can use to write a business plan, it's best to try to avoid producing a generic-looking one. … See more
Business plans can take many forms, but they are sometimes divided into two basic categories: traditional and lean startup. According to the U.S. … See more
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