A successful business plan is a document that conveys the exciting prospects and growth potential of your company. It might be best viewed as a selling document. It sells the business to potential financial and other backers. By effectively selling the business as a whole, a business plan makes a strong case for specific projects. For instance, a plan may be used to seek funding to cover the expenses associated with developing and marketing a new product.
Or it may be intended to secure a bank loan for additional manufacturing equipment.
Just as advertising and promotional material sell a company, so should a business plan — though in a more straightforward, organized, and detailed way. Thus, a business plan should not only emphasize the strengths of a company, but also be realistic about its problems, risks,and obstacles, while offering solutions to these issues. To accomplish its goals, a business plan must do the following:
➢ Discuss the company’s goals for the near-term and long-term future
➢ Show how the goals can be achieved
➢ Demonstrate that realization of the plan will satisfy the reader’s requirements.
