3Business plan is a document that states, in a clear and reasoned manner, what a business seeks to achieve and how the objectives will be attained. It is a convenient tool for systemically assess your business idea and its future prospects.
What is the purpose of writing of business plans?
Justifying and verifying a new idea, assessing prospects of a business;
Comparing projections with actual achievements;
Calculating the funds requirement;
Assessing risks related to borrowed or own investments in a business;
Justifying and obtaining loans;
Finding partners or providing existing partners with information.
Key questions to be answered by writing a business plan:
WHO we are?
WHO we wish to become?
HOW can we achieve this?
HOW we will measure the progress made?
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