What is a Business Plan and Why is it Important?
Tim Berry | Mar 22, 2023
If you’ve ever jotted down a business idea on a napkin with a few tasks you need to accomplish, you’ve written a business plan—or at least the very basic components of one. Let’s go over what a business plan is and why you need one to prepare you to successfully write and use it for your business needs.
What is a business plan?
A business plan is a strategic roadmap for any new or growing business or startup venture. It captures the opportunity you see for your company: it describes your product or service and your business model, the target market you’ll serve. It also includes details on how you’ll execute your plan: how you’ll price and market your solution, and your financial projections.
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