Explain the parts of a business plan

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A business plan is a written document that describes in detail how a business—usually a startup —defines its objectives and how it is to go about achieving its goals. A business plan lays out a written roadmap for the firm from marketing , financial, and operational standpoints. Business plans are important documents used to attract investment before a company has established a proven track record. They are also a good way for companies to keep themselves on target going forward. Although they're especially useful for new businesses, every company should have a business plan. Ideally, the plan is reviewed and updated periodically to see if goals have been met or have changed and evolved.
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Sample Business Plan

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Parts of a Business Plan – Business Services

By QuickBooks India. Would be entrepreneurs are in a constant dilemma whether to write a business plan or simply take the plunge. They juggle between two approaches that have long been in a face-off with each other. The first approach claims that a startup should simply act on its business idea , become better and support itself. It should not waste time in preparing lengthy business plans that are good for nothing.
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Top 10 Components of a Good Business Plan

Whether you're planning to open a shop that makes the best coffee around or you want to sell eco-friendly office supplies, you'll need to explain why your business is necessary and how it'll differ from its competitors. That's where your business plan comes in. It provides investors, lenders and potential partners with an understanding of your company's structure and its goals. If you're trying to create one, check out 10 key components of a business plan.
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This article provides a detailed business plan outline as well as a step by step guide to writing a business plan. I encourage you to read this article in relation to our series of articles on how to write a business plan. Below is our recommended business plan outline. Every company is different and the business plan needs to be tailored to reflect that, therefore this is more a guideline than a strict template.
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