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Those who are starting a business or who have an existing business, including sole proprietors, general partners, limited liability company LLC members, and even corporations, should have a Business Plan to map out their strategies and goals for their company. Periodically taking stock of how a company is doing is essential to ensuring that it meets its goals and will become or continue to be successful and profitable.

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A template is great--you probably aren't doing anything that hasn't been done before, so it provides a proven structure for your plan. Business Plan Competition. There's also a step-by-step guide for writing a business plan, and Bplans provides a library of sample business plans to ensure you're on the right track. They also provide a business plan checklist to ensure you're including all the right information. Your forecast of the industry and your own company can be detailed in long- and short-term descriptions. Ultimately, whether you plan to launch a company, transition from being a freelancer to a small business owner, or wish to recreate, improve, and organize your current business, a Business Plan is a helpful document for steering your business forward and informing others of your plans. Please note, the following documents should open on any device with a document viewer and editor but for the best user experience, we recommend editing this template on a desktop. Plan for your next phase. Scope the necessary work.

It also encompasses several other aspects of a company's future agenda and can serve as a tool for internal decision-making or as a business proposal to pitch to potential investors.

Even broken into sections, it's a long document and a bit of a slog to get through, but it produces a professional-looking and useful business plan. Through an industry analysis, businesses are given the ability to develop optimum strategies that take full advantage of the multitude of opportunities they are presented with, while also minimizing or mitigating identifiable risks.

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The opinions expressed here by Inc. Your sales and marketing plans: This section is all about how you are planning to attract customers.

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Marketing plan. Business Plan Competition. Whether it is the introduction of a new law that could have profound negative or positive impacts on the company, a gradual shift in the consumer base that suddenly explodes into a completely different type of customer with new needs and desires, or even adhering to new technologies in order to stay relevant and competitive — businesses must be able to move seamlessly within the many shifting changes. Company overview. How long should a Business Plan be? Conclude your business description by describing exactly how the business will be profitable and why customers will buy the products and services your business offers. Product or Service: Here you can include a breakdown of what your product or service is, its unique features, any patents you may have, as well as any future products you want to develop. Sales Plan What is a Business Plan? Why use a business plan template? A Business Plan is essentially a tool for planning and education. Who needs a Business Plan?

It takes less than 10 minutes to complete, it automatically calculates financials for you, plus you can choose from 10 professional designs. Make sure everything ties together by linking every strategy to your core objectives.

A Business Plan often includes information about your goals, strategies, marketing and sales plans and financial forecasts. Whether the systemized process is implemented on a weekly, monthly, or yearly schedule is largely unimportant because the overall goal remains the same.

While a Business Plan may vary in how it is organized, it can include: Executive Summary: This portion of the plan summarizes your company.

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