MomStuffCoffeeShop

Business Plan Entrepreneurship

April 07, 2022 Kay-Kay Smith
MomStuffCoffeeShop
Business Plan Entrepreneurship
Show Notes

Why you need a business plan

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In today 's episode, we will talk about the importance of a business plan and why you need one.

Goals and objectives

Your business plan should start with your goals and objectives. What are your long-term and short-term goals? What can you realistically achieve in the next year, three years, and five years? How will you know if you've achieved these goals?

 

Some entrepreneurs choose to write their goals and objectives as a series of

Bank loans

If you're seeking any type of funding from strategic partners, or even a bank loan, your business plan will be one of the first things they ask for. A well-crafted business plan gives potential lenders an idea of who you are as a company, what you do, and how

Products and services

An overview of your products or services is essential for potential customers and investors. Describe what you're selling, why it's needed in the market, and how it benefits your target customer.

 

Include information about any unique features or variations of your product, as well as pricing. If you have a new product or service,

Keeping track of failures in your business so you can fix them

Projected income and see if you are hitting those big goals

A outline of your goals

It will help you take your business where it needs to go

Stay on track

 

Until next time, rate, share and subscribe and let me know what you have done to start or grow your business