#club5050 A BUSINESS PLAN by @bongk

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Introduction

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Every business owner before starting their businesses always draft out a business plan, a document that would give him and other Investors an idea of how the business will function,how the business will be built, how the profits will be made and other vital info about the business. It is important to draft out a plan before engaging in any business type whether big or small, because this will help maximise profits and efficiency of the work.

I would like to show you all how a business plan looks like and how to draft out yours, and when submitted in the right hands for funding it will bring in funds. Whether it is a selling business, a real estate business, a website, a social media network, a street vending business, all these need a business plan to start.

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What is a Business Plan? 🤔

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A business plan is a formal document that shows the goals of the businesses, the methods of attaining these goals, the time frame for achieving these goals.
A business plan gives the summary of the business and makes it easy for an investor to learn more about the business quickly.

Format of a Business Plan
There is a general format for all business plans and these formats must be used to draft out a business plan, especially when you want to summit it to an investor for funding. These are the various topics used in a good business plan;

A typical Business plan

• Executive summary
• Company/Business description
• Market analysis or Market research
• Organization and management
• Product line or service
• Marketing
• Financial projects
• Appendix

These topics can guide any business oriented person to come out with his or her business plan, it is very easy to develop on them.

Why write a Business Plan? 🤔

This is a question you must ask especially when you are the one funding your business but it's still very important to write down a business plan, here are the reasons;

• To provide a justification of your business.
• A business plan makes it easy for you to work out your real business, following the plan so as to maximize income.
• Writing a business plan for funding makes it very easy for an investor to locate your business in the market, by knowing the service you offer
• A business plan assist you, making know when your business is failing or not. Because on your business plan, financial projects give you feedback on how the business is moving.

Is there assurance of Business Success with a Business Plan? 🧐

Any business with a well drafted plan has a 70% success forecast, this is so because a business plan gives answers to challenges that will be incurred in the course of running the business.
The remaining 30% falls on the business owner, that is his or her efforts.

That concludes my talk about a Business Plan, it is a way to ensure all of us exceed our expectations while we create good content and engage in our business.

I invite
@cicil
@wase1234
@rockana

Thanks for reading