In order to establish a viable business, it is essential to plan. This means that the entrepreneurs must determine where they intend to have the business go; what it will sell; who it will compete against; and, how it will develop.
In addition, every business needs capital at one time or another. This funding might be sought as bank loans, other conventional forms of financing, or as venture capital. It might also be obtained through a public sale of securities (discussed in Chapter 6). No matter what the source of financing, an important first step is the preparation of a business plan. This can aid a banker, venture capitalist, or prospective owner in evaluating your company.
A business plan may be considered a road map to determine the course your business will travel from start-up to full operation. The structure and content of your business plan will vary depending upon such factors as the company’s stage of development, the nature of the business, and the type of markets it will serve. There is a host of different formats that have been used for business plans. Although the order of presentation is by no means standard, each of the following
topics should be addressed in structuring any business plan. In addition, there are numerous software packages available to assist you in creating your business plan.
In addition, every business needs capital at one time or another. This funding might be sought as bank loans, other conventional forms of financing, or as venture capital. It might also be obtained through a public sale of securities (discussed in Chapter 6). No matter what the source of financing, an important first step is the preparation of a business plan. This can aid a banker, venture capitalist, or prospective owner in evaluating your company.
A business plan may be considered a road map to determine the course your business will travel from start-up to full operation. The structure and content of your business plan will vary depending upon such factors as the company’s stage of development, the nature of the business, and the type of markets it will serve. There is a host of different formats that have been used for business plans. Although the order of presentation is by no means standard, each of the following
topics should be addressed in structuring any business plan. In addition, there are numerous software packages available to assist you in creating your business plan.
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