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A business plan is a document that summarizes the operational and financial objectives of a business and contains the detailed plans and budgets showing how the objectives are to be realized. It is the road map to the success of your business. For anyone starting a business, it's a vital first step.
Creating a business plan will help you achieve your entrepreneurial goals. A clear and compelling business plan provides you with a guide for building a successful enterprise focused on achieving your personal and financial goals.It can also help persuade others, including banks, to invest in what you are creating. Products and Services, in which you describe, in detail, your unique product or service. 2  Marketing Plan, in which you describe how you'll bring your product to its consumers. 3  Operational Plan, in which you describe how the business will be operated on a day-to-day basis.