(EP) Preparing the Business Plan Lesson

Preparing the Business Plan

image of someone writing captioned preparing the business planAs an entrepreneur you will want to write a business plan before starting a new business. This is a requirement if you are seeking funding, but even if you can fund the venture yourself, there are many reasons for writing a business plan:

  • It helps you put your ideas in order and makes them clearer.
  • You gain a better understanding of the competitive environment you will be in.
  • It helps you organize your business better.
  • You get a clearer picture of financial needs.
  • You articulate your vision so you can hold yourself accountable.
  • It can serve as a benchmark for your success.

Parts of a Business Plan Interactivity

Review the interactivity below to learn more about the parts of a business plan and what is contained in it.

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