Key Elements of a Useful Business Plan

"The four main uses of a business-plan (BP) are as follows:

• A BP is a written document that you can use in your search for external financing.
• A BP is a tactical planning and management tool for your business.
• A BP is a document showing the capacity of your team to control and manage all the aspects of the company.
• A BP brings you new ideas to refine your project by checking and estimating the induced hypothesis.

The drafting or update of your business-plan is essential to the good management of your company. It can be used when searching for a business partner, for obtaining external financing, and for defining some stages of the development of your company, such as:

• The creation of your company.
• The launching of a new product.
• The establishment in a new market.
• The transfer, buy-out, or the structural development of your company. "

Read more about the fundamentals of building a good business plan in this post from business toolchest found via this Small Business Brief post.