A business plan is a written narrative,
typically 25 to 35 pages long, that describes what a new business plans to
accomplish and how it plans to accomplish it.
The reasons are-
Internal
reasons-Forces the founding team to systematically think through every aspect
of their new venture
External
reasons-Communicates the merits of a new venture to outsiders,
such as investors and bankers
Guidelines:
a.
Structure of the business plan-To make the best impression, a business
plan should follow a conventional structure, there is no need to show
creativity in the business plan. No silly investment is needed in making a
business plan
b.
Content of the business plan-The business plan should give clear and
concise information on all the important aspects of the proposed venture. It
must be long enough to provide sufficient information yet short enough to
maintain reader interest. For most plans, 25 to 35 pages is sufficient.
Types of Business Plans-(1) Summary business
plan(2) Full business plan(3) Operational business plan
c. Style or format of the business plan-The
appearance of the plan must be carefully thought out. It should look sharp but
not give the impression that a lot of money was spent to produce it
