Published at Wednesday, May 09th, 2018 - 07:42:06 AM. Template. By Teddie Juarez.
All businesses at some point started off as an idea and developed from there. Some were successful and most failed. Ask any financial advisor about starting or expanding a business and they will certainly recommend you write a business plan. A Business Plan will help you take the idea and put it into the real world and see whether it is financially viable. A Business Plan varies from Business to Business but generally contain the following components. Executive summary, Business Description & Management, Market Analysis, Marketing Plan, Operations Plan, and financial tables. These are essentially the documents you would take to your financial lender if you were seeking a loan to finance your idea.
Is it expanding, static or declining and what factors lead you to believe that your business will be successful. You will be asked about the nature and strength of your competition. How did you arrive at your pricing model and what contingent plans do you have in place if things go wrong? That is, sales targets are not met or an injury or illness to you or another important partner? Here you will also be asked about your customers profile.
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