What is a Business Plan

A business plan is a statement of your business-what you want to achieve and how you plan to do it. It must outline the structure of your business, the product or service, the customer, the growth potential and the financials. It should inspire you for the future.

It is a blueprint of what you want to achieve and should give you a clear understanding of how you intend to get there. That’s not to say it should act as a rigid prediction of every future occurrence. You can’t control the future, and the outside circumstances will have an affect on the shape and direction of your business. But a good business plan should at least give you a clear direction to aim for.