Define A Business Plan

For example, when presented to a bank, it may be called ‘loan proposal.’ a venture capital group might call it the ‘venture plan’ or ‘investment prospects’ and a common man may term it ‘project report.’ Let it be called by any name, its basic purpose is the same, i.e.

to serve as a road-map in setting up a business enterprise.

Therefore, the business plan needs to be prepared with great care and consideration.

A good project report or business plan should contain the following contents: 1. Schedule of Implementation Arguments are made for and against writing a business plan.

Webster New 20th Century Dictionary defines a project as a scheme, design, a proposal of something intended or devised.

Let some important definitions of business plan be presented. Dollinger has defined the business plan as “the formal written expression of the entrepreneurial vision, describing the strategy and operations of the proposed venture.” According to Jack M.

Informal Business Plan: A rough plan which may contain hand-written notes helping the owners in the daily functioning of a business and planning for expansions.

A formal business plan should state that the business will produce sufficient revenue to meet up the expenses and will generate a mentionable profit for the investors.

You have to discuss with the consultant about it and make sure that the plan clearly defines your business concept.

Buying or Downloading a Book: There are various good books available in the market or online from where you can buy one or download some.