Business Plan Outline

Guidelines for Business Planning

The business plan is your pathway to profit. It can mean the difference between success and failure. A business plan with goals and actions can guide you through turbulent economic times with alternative channels, which you can fall back upon as changes dictate.

Through the development of a business plan, you will be able to identify your areas of strengths and weaknesses and spot opportunities and threats, which may loom on the horizon. You will review the competitive conditions of the marketplace and isolate opportunities and situations that seem advantageous to your business.

The business plan will communicate your understanding of the industry in which you operate, the competitive situation you face, the capability of your management, the suitability of your location, and the capacity of your particular business. It will make reasonable assumptions and forecasts of your expectations concerning sales, expenses, cash flow, and goal attainment.

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