What is a Business Plan?

A business plan is a document that give details about the companies objectives and it sets plan to achieve them.

A business plan is used by both well established companies and startup business for resource allocation, strategic decision-making and performance evaluation.

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Business plans are useful for large scale industries to stay on their formulated polices and and not losing sight of their goals.

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Startup businesses use business plans to establish themseves in the business world and attract more investers from the market.

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A business plan can be formulated using a template depending upon the need of a business organisation.

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A business plan can be of many types but generally they are categorised into two - traditional and lean startup.

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A well defined business plan is not a gurantee of sucess manytimes it may fail due to tough competion or other reasons.

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