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How do I write a business plan?

A business plan is a written document that describes the business you want to start and how it will become profitable. A business plan usually begins with a statement outlining the purpose and goals of the business and goes on to show how the business owner will realize those goals, including a detailed marketing strategy. A complete business plan also contains a formal break-even analysis, a profit-and-loss projection, and a cash-flow analysis designed to show that if the business develops as expected, it will make money.

A business plan isn't just window dressing to attract potential investors or market your business to potential lenders. A solid business plan should sell you, the potential owner, on the financial viability and soundness of your business idea.

If you write a business plan, complete with a break-even analysis, profit-and-loss forecast, and cash flow projection, you can tinker with your idea and improve it before you start. On the other hand, you may take an honest look at the numbers and find that hoped-for profits are unlikely to materialize. In this case, one of the most important purposes of writing a good business plan is to talk yourself out of starting a bad business.

Click the links below to learn more on how to write a business plan:

Small Business Plan: Requires Careful Research And Preparation

Business Plan Outline: Learn The Implementation Step-By-Step

Business Plan Format: Discover The 3 Major Objectives To Formulate Your Plan

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