Components of a Good Business Plan
The components of a good business plan include;
i) Executive Summary: Your executive summary should appear first in your business plan.
ii) Company Description
iii) Market Analysis.
iv) Competitive Analysis
v) Description of Management and Organization.
vi) Breakdown of Your Products and Services.
vii) Marketing Plan.
viii) Sales Strategy.
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In conclusion, developing the business plan is one of the best ways to define the blueprint, strategy, resource, and individual requirements for an ongoing venture.
A propeongoingted business plan can help solidify your vision.
When you are undertaking a new venture (feasibility studies), or remaking an old one (business plan), a written strategy can help ensure its success.
Business Plans and Feasibility studies are required as a controlled process for identifying business problems and opportunities, determining objectives, describing situations, defining successful outcomes, and assessing the range of costs and benefits associated with several alternatives for solving a problem.
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