What’s Inside[col4]What is a Business Plan?
What does a business plan contain?
Preparing your business plan
[/col4] [col4]Business Planning Best Practices
Why use Firstbase for market research?
Benefits of market research
[/col4] [col4]Business Feasibility Planning
New products to market
[/col4] [col4]The Business Plan Blueprint
What you get
[/col4] [col4]Product, Price, Place, Promotion
Target market chart
[/col4] [col4]How We Work
[col8]A business plan is a vital component for any company, providing potential lenders and investors with a roadmap of how your business will operate and how you will go about achieving your goals.
The amount of work that you put into your business plan will be critical to providing you with a structured and methodical approach to laying out your business model.
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- The Business Plan serves as a blueprint for the direction and management of your business; acting as a framework for strategic planning.
- It helps you to identify your customers, your market area, your pricing strategy and the competitive conditions under which you must operate to succeed. This process often leads to the discovery of a competitive advantage or new opportunity, as well as identification of any deficiencies in your plan.
- A Business Plan identifies the levels of financing or investment required, and methods by which to attain it.
- When presented to a lender or investor, the Business Plan will be used to assess both your financing proposal and your skills as a business manager.
- The plan encourages realism and commitment among your personnel.
- The Business Plan will shows the potential strengths and weaknesses, and identifies ways to overcome obstacles and reach your goals.
- By committing your plans to paper, your overall ability to manage the business will improve.
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