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A business plan is a written document describing the nature of the business, the sales and marketing strategy, and the financial background, and containing a projected profit and loss statement. It is a formal statement consisting of a marketing plan, an organisation plan, and a finance plan, describing why, when and how the business developer intends to implement a strategic initiative or growth opportunity. A business plan is any plan that works for a business to look ahead, allocate resources, focus on key points, and prepare for problems and opportunities. Businesses need plans to optimise growth and development according to priorities. There are many different types of business plans, such as the lean plans, the standard business plans, business plans for start-ups, one-page business plans, feasibility plans, internal plans, operations plans, growth or expansion plans and strategic plans which all seek out to achieve different aims. A good business plan is as brief and precise as necessary to convince investors and other stakeholders to do business with you. It should have a simple structure that is comprehensible and clearly written and usually includes an executive summary, a company summary, information about products and services, a marketing analysis and strategy, information about operations and management and a financial analysis. A good business plan provides a map for the future, supports growth, secures funding and develops and communicates a course of action.

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