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Business Planning involves outlining the details of a business, including its strategic objectives, mission & vision, go-to-market strategy, financial strategies, and resources. It is an important tool for entrepreneurs to communicate their vision to potential investors and stakeholders—and to help them think through the feasibility and potential success of their business.
Typically, Business Planning includes creating the following key components:
In formulating the Business Strategy, we would recommend utilizing proven strategic frameworks to conduct the following analyses at a minimum:
It is also important to be flexible and willing to revise the Business Plan as needed as the business grows and develops.
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