A business plan refers to a written document that comprehensively outlines what your business is, where it is going, and how it will get there.The business plan outlines in specific terms the financial objectives of your business, and how it will position itself to achieve those goals in the context of the current market environment.
It describes all aspects of your business, including history, products, services, marketing and finance.
Yet, some may also think that pitch decks and clever presentations may he displaced them.
Every entrepreneur and startup company needs a plan.
You should have a plan in order to get yourself organized, to ensure you have some type of viable commercial potential, you have focus and hopefully aren’t going to run out of money or starve before you get going.
If that’s all you need, and you don’t plan to raise money, apply for loans and don’t intend on bringing in partners, then you certainly don’t need a 25lb manuscript. In fact, Brian Chesky (found of Airbnb) is famous for his one-page business plan for global domination.