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What is a business plan?
What is a business plan?
A business plan is developed so
that we have a better
understanding of our business by
organizing our thoughts, actions,
and decisions in order that we
may prepare for the future. It is a
roadmap to success.
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What Are the Objectives of a
Business Plan?
1. Describe our business
2. Assess the performance
3. Compare the business
with peers.
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What Are the Benefits of Doing
a Business Plan?
a. Provides a look at the whole
business.
b. Provides a framework for
decision making.
c. It’s a communication tool.
d. Points the business to the future.
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What Are the Benefits of Doing
a Business Plan? (cont.)
e. Allows you to act, not react.
f. Assists with the transition of a
business from one generation to
another.
g. Increases the chances of success.
h. Provides feedback, which results in
improvement.
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A Look At…
A Look At…
Characteristics and
Steps in Business
Planning
