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Business Plans

A business plan is a detailed road map for building a given company.

A business plan contains all that the feasibility study has plus specific timelines, detailed budgets with forecasts, letters of intent, resumes of staff, background, competition, strengths and weaknesses, work sheets (with full supporting references and notations) and appendices. Appendices should include copies of all documentation in relation to key analyses as well as plans that together represent the road map for company development.

A well-written business plan will show exactly what revenues can be expected and when to expect them, what overheads and expenses will need to be paid and exactly when they will be due. It will also show staffing levels and salaries along with costs of employment, sales levels with monthly and seasonal trends, setup costs, building/office costs, utility and telephone costs, legal, insurance and accounting costs, office
furniture and supplies costs and a myriad of other costs and projections.

However, while these costs and revenues form an important part of the required picture, a business plan will also need to demonstrate that all required plans are completed. As such a business plan will feature information central to establishing a high degree of certainty in effective operation. Sections on demographics, sales and sales methods, objectives, expansion plans, contingency exercises, product/services market introductions, regulatory requirements, laws of City, State and Federal governments relating to the business or project and much more should be included.

A well-written business plan can help maximize potential and minimize overheads, liabilities and risk associated with any project.

People never plan to fail, they only fail to plan!

A feasibility study (proof of business concept) and a business plan are totally separate documents and each does a very specific job. The costs associated with each are also completely different. However a business plan may be developed that has as a component which includes key features and evidence supporting proof of the business concept.