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But not only. Even if loans or investors are not required, still it is an important tool that aids management in their planning and direction. It helps you understand where you stand, where you are going and how will you get there! It should be consulted and updated continuously. It is usually a written (it can be mental but won't be as effective) document aided with charts or diagrams.
A business plan should be: *********OHP 2
- simple and easy to understand
- clear and precise
- practical and attainable (not too optimistic)
- flexible ? the environment is changing all the time. We should be able to adjust...
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