Why is a business plan important? A business plan is a very important and strategic tool for entrepreneurs. A good business plan not only helps entrepreneurs focus on the specific steps necessary for them to make business ideas succeed, but it also helps them to achieve short-term and long-term objectives.

What are the 3 main purposes of a Business Plan? The 3 most important purposes of a business plan are 1) to create an effective strategy for growth, 2) to determine your future financial needs, and 3) to attract investors (including angel investors and VC funding) and lenders.

Whether you’re starting a small business or exploring ways to expand an existing one, a business plan is an important tool to help guide your decisions. Think of it as a roadmap to success, providing greater clarity on all aspects of your business, from marketing and finance to operations and product/service details.

While some owners may be tempted to jump directly into startup mode, writing a business plan is a crucial first step for budding entrepreneurs to check the viability of a business before investing too much time or money. The purpose of a business plan is to help articulate a strategy for starting your business. It also provides insight on steps to be taken, resources required for achieving your business goals and a timeline of anticipated results.

For existing small businesses, a business plan should be updated annually as a way to guide growth and navigate the expansion into new markets. Your plan should include explicit objectives for hiring new employees, market analysis, financial projections, and potential investors. The objectives should indicate how they’ll help your business prosper and grow.

What will students learn in this course?

• Things to consider before starting a business plan
• The elements of a business plan
• Who are you writing your business plan for?
• The purpose of a business plan
• How a business plan can help with your long-term success
• Reasons you need a business plan

Why choose Edplx?

• Internationally recognised accredited qualification
• Access to our free career advisors
• Approved UK Learning Centre
• 1 year accessibility to the course
• Attain PDF or hardcopy certificate to show employers
• Study at your own pace anywhere
• Employer has access to certificate validation
• Tutor Support available Monday-Friday
• Invitation to job fairs

Course Curriculum

This Course will cover some of the following topics:-

Introduction

• Introduction
• Downloadable Resource

Things to Consider Before Starting a Business Plan

• Introduction
• Identify
• Audit the Market Demand
• Check for Availability of Resources
• Work on a Financial Plan
• Be Ready to Face Failure

The Elements of a Business Plan

• Introduction
• Mission Statement
• Marketplace Opportunity
• Product/Service Information
• Sales/Market Plan
• Financials

Who Are You Writing the Business Plan For?

• Introduction
• Want to Start a Business
• You Own an Established Firm and Are Seeking Help
• You Need to Determine Your Objectives
• You’re Trying to Predict the Future
• You Want to Use it to Raise Money

The Purpose of a Business Plan

• Introduction
• Provide a Road Map
• Understand What to Focus On
• Raise Finance
• Manage Your Business Effectively
• Enlightening Executive Talent

How a Business Plan Can Help with Long Term Success

• Introduction
• Is Simply a Must-Have for Some Businesses
• Helps You Make Decisions
• Can Be a Reality Check
• Can Give You New Ideas
• Creates an Action Plan

Reasons You Need a Business Plan

• Introduction
• Gain a Deep Understanding of Your Market
• Hold Yourself Accountable
• Know Your Message
• Confirm the Math
• Iron Out Possible Kinks

Conclusion

• Conclusion