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A business plan is a written description of your business’s future and a document that outlines a plan for your short-term and long-term goals.
Entrepreneurs are by nature positive, confident, and can-do people.
So, you need to plan, set goals, and above all, know your business plan.
As a matter of the fact, a mission statement should explain a company’s purpose in one compelling sentence.
Consider spending twice as much time researching to determine your mission because investors want to make sure that your business is going to make them money.
The first months are the most difficult for a new company.
Always include more in your forecast than your real numbers.
It does not have to be overly detailed, but shouldn’t be too simplistic either.
You don’t have to add a lot of cash flows statements or numbers to the business plan, but instead, you would need to have a simple orientation plan stating how it is going to be achieved, where you want to go, and the potential and market competition for your startup.
As a matter of fact, the company’s value proposition is what distinguishes it from competitors in the business world.
Expand upon your products and services, including features and benefits, competitive advantages, and if marketing a product, how and where your products will be produced.