In this lesson we’ll take a look at some of the theory behind the creation and use of a Business Plan.
- What is a Business Plan used for?
- Who should write a Business Plan?
- What are the key components of a Business Plan?
- Should I use every component?
This will get you into the right mindset for completing the course.
Understanding why a Business Plan is useful to you and the success of your business, will hopefully offset any frustrations that it is just “unnecessary paperwork”.
This is understandable. When you feel the excitement of wanting to dive into a new venture or you have an opportunity and are being pressured to make a quick decision, planning can feel like an onerous task.
However, the process of creating a Business Plan is very effective in ensuring that your business reduces its chances of failure – and this lesson will set that context.
In this lesson we’ll review the following questions:
By the end of this lesson you should be clear on what a well-executed Business Plan can do for your business, whether it is appropriate for you to write one and what information goes into one.
So let’s get started!
We will take those questions one by one.