A business plan is a formal statement of a set of business goals, the reasons they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals.
Business plans may also target changes in perception and branding by the customer, client, taxpayer, or larger community. When the existing business is to assume a major change or when planning a new venture, a 3 to 5 year business plan is required, since investors will look for their annual return in that timeframe.
Read more about Business Plan: Audience, Content, Presentation Formats, Open Business Plans, Not For Profit Businesses, Satires
Famous quotes containing the words business and/or plan:
“Knighterrantry is a most chuckleheaded trade, and it is tedious hard work, too, but I begin to see that there is money in it, after all, if you have luck. Not that I would ever engage in it, as a business, for I wouldn’t. No sound and legitimate business can be established on a basis of speculation. A successful whirl in the knighterrantry line—now what is it when you blow away the nonsense and come down to the cold facts? It’s just a corner in pork, that’s all.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“My plan of instruction is extremely simple and limited. They learn, on week-days, such coarse works as may fit them for servants. I allow of no writing for the poor. My object is not to make fanatics, but to train up the lower classes in habits of industry and piety.”
—Hannah More (1745–1833)