On the contrary, it’s a promotional document that will undergo constant updates and changes.
Keep in mind whom you write it for (investors, customers, etc.) and do it in an easy-to-read language without challenging to understand words and terms.
A business plan is essential to your company’s success.
After all, seven out of ten businesses fail within five years.
In most scenarios, it is up to the founders of the company.
It’s important to remember that this is not a document for internal use only.
Whether it is insufficient market research, financial planning, management, lack of social media presence, website or something else, these mistakes all boil down to a lack of planning that can be traced back to the roots of your company: the business plan.
Before we detail how to write a business plan, we should figure out what a business plan is.
But as important, the process of writing involves you and your partners taking a real look at what you want the future of your company to look like and how you’re going to make it happen.
An individual or a group of individuals who start a business are responsible for writing a plan.