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.
Because the business plan contains detailed financial projections, forecasts about your business's performance, and a marketing plan, it's an incredibly useful tool for business planning.
For anyone starting a business, it's a vital first step.
My Writing A Business Plan series provides detailed instructions for working through each section of the business plan. Business Plan Outline, is the starting page; it includes a brief explanation of the contents of each section of the plan.
How does the business plan differ from the investment proposal? Not much. They both have the same contents. You can think of an investment proposal as a business plan with a different audience. The business plan is considered an internal document, unlike the investment proposal, which is designed to be presented to external agencies. For more about business plans crafted for investors, see Prepare An Investor Ready Business Plan.
Common Misspellings: Bizness Plan, Bisnes Plan, Buisness Plan.
Examples: JoAnn spent months researching and writing a business plan for her new business.