Micro knowledge
Business Plan
A business plan is something a business should create. When prepared correctly a business plan can put you in a much better position to get you a loan. It should contain your current business goals, and your current and future customers and how you plan to reach them. Your future revenue projections over 2–3-year period would be good also.
The following are key areas of a business plan:
Executive Summary
Business Description
Marketing Plan
Financial Plan
Remember to always go over your business plan prior to submitting it for a loan for example. You always want to put your best foot forward.
Key Takeaway
- All businesses need to have a business plan.
- It should give a simple detailed analysis of your business.
- Proofread your business plan prior to submission.