The importance of planning should never be overlooked. For a business to be successful and profitable, the owners and the managing directors must have a clear understanding of the firm’s customers, strengths, and competition. They must also have the foresight to plan for future expansion.
This course will take you through the step-by-step process of developing a business plan. A business plan is very specific to each particular business. However, while each business needs a unique plan, the basic elements are the same in all business plans. To complete an effective business plan, you must dedicate time to complete the plan. It requires you to be objective, critical and focused. The finished project is an operating tool to help manage your business and enable you to achieve greater success. The plan also serves as an effective communication tool for financing proposals.
At the completion of this course, you should be able to:
- Describe the importance of a business plan
- Identify the elements of an effective business plan
- Write a business plan