What is a Business Plan?
A business plan does not need to be a complex 70-page document on how you plan to run the business. When you are just starting out a simple business plan is often the easiest and most correct thing that you can do. Ideally, your business plan should have 9 or more sections to it.
However, you can get away with an even simpler business plan if you are doing this to raise extra money, and not wanting to take on the local bigshot in your business niche. The simplest business plan is designed for you so that you are able to work out key ideas and goals of your business. This is not a “bank quality” business plan, the simple business plan above is more appropriate if you are seeking outside funding for your bookstore.
The vision of your business is what you make of it. What do you want your business to evolve into? Do you have any key goals or objectives behind starting this business? What are your long-term thoughts?
Goals and objectives are simple bullets that succinctly describe how you will accomplish your vision. A goal is simple, it determines the specific points that you are hoping to accomplish in a given time frame.
The financial plan is one of the most important things that you need to think about. Take your time and write it down in a table wise format. Chalk out a monthly financial goal. Try not to exceed costs that you have written down in these plans.
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