What is a Business Plan?

What is a business plan?

It is a document that is a outline of your business. It covers a detailed description of your business, including the products or services you plan to offer and market as well as exspenses, profits, staffing and funding.

Purpose of a Business Plan

One main reason for a business plan is to help you effectively manage your business and enable you to acheive greater success. To complete an effective business plan you must be objective, dedicated and focused.

Although, starting a pet sitting business requires minimal start up there are still exspenses so don't underestimate the amount of funds you will need. This is why writing a business plan in crutical. It keeps you moving in one direction, forward.

A Productive Business Plan

A productive and successful business business plan will keep you focused. By following a few steps your plan should be able to:

  • effectively describe your propsed or existing companies strenghts and potential
  • describe your products and services you plan on offering
  • the direction your buisness is headed

You may have been thinking for years about starting a business and think the process may be a bit complicated. Many business' make the mistake in not following a business plan and thus fail within the first year of openning.

A business plan will help you to step by step allowing you to examine each area by itself. It is very easy to lose sight of your objectives and goals -- a business plan can help to keep you focused.

Now that you have gathered information and understand why you need a business plan. Here are seven elements of a business plan:

  • Business Plan Summary
  • Market Analysis
  • Company Decription
  • Organization and Management
  • Operating Plan
  • Business Decription
  • Financials

More information on how to write a typical small business plan and other supporting information.

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