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Business Plan

 

The conceptual foundation of a business


photo by John

A business plan is essential when applying for a loan or seeking investors.  Your business plan is a document that explains what your company does, who is involved with your company, and why it will be a success.  Key elements of a business plan include financial projections, a description of products and services, and a realistic market analysis.  A clear, focused business plan will help your company hit the ground running.  

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Quick tips for business plans

  1. Keep your statement of purpose brief; you can explain what your business does in 25 words or less.

  2. Make sure to include a list of all owners of your company. 
  3. Make a list of your company's managers, including each manager's credentials.

  4. Provide at least three years of financial projections.

  5. Gather support in the form of references from prospective clients, creditors, suppliers, etc. as well as insurance documents and any necessary licences.

For more detailed tips, visit Score.com

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The Business Plan

Jim Ellis talks about the elements of a successful business plan as well as common mistakes related to its development and use. Recorded: January 31, 2007
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