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21674
Defining Business Plan
Description
Mind Map on Defining Business Plan, created by Roxy Bredikhina on 01/03/2013.
Mind Map by
Roxy Bredikhina
, updated more than 1 year ago
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Created by
Roxy Bredikhina
about 11 years ago
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Resource summary
Defining Business Plan
What is BP?
Details how company will materialize
Explains market and competition with evidence
Explains why your team is right on capitalize this opportunity
Typically 15-20 pages
Owner's material for company
Why to write BP?
helps to look at business critically
Helps to focus ideas
feasibility study of firm's growth and success
Operational tool
Company's present status
Future opportunities
Helps manage the business
serves as a strong communication tool for biz
provides the basic for your fin proposal
Advantages and disadvantages of BP
Advantages
Yardstick to manage performance
starting point for fin, dev and marketing
demonstrates focus and plan for profits
connects all the elements of company
assist in attracting management and employees
greatly improves fundraising ability
Disadvantages
requires solid research and thought
must stand up criticism and challenges
needs regular, recurring updates
demands acceptance by management team
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