Describe the meaning of business plan

A little about the essay
By QuickBooks India. They juggle between two approaches that have long been in a face-off with each other. The first approach claims that a startup should simply act on its business idea , become better and support itself. It should not waste time in preparing lengthy business plans that are good for nothing. The second approach, however, is pro business planning.
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How to Write a Company Description for a Business Plan

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How to Write a Company Description for a Business Plan | 5 W's

A business plan is a written document that describes in detail how a business—usually a startup —defines its objectives and how it is to go about achieving its goals. A business plan lays out a written roadmap for the firm from marketing , financial, and operational standpoints. Business plans are important documents used to attract investment before a company has established a proven track record. They are also a good way for companies to keep themselves on target going forward. Although they're especially useful for new businesses, every company should have a business plan.
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What is the importance of writing a business plan? A business plan is an outline of your business goals and objectives and how you intend to achieve them. Most people do not realize the importance of a business plan to the growth and development of a business. They feel it is a waste of time and not necessary to do as they consider there are more important things to do concerning the business rather than taking out time to draft a good business plan.
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Tasks, to-do lists, meetings, and more. Amidst that rush, the idea of writing a good business plan—much less following a business plan template—often feels time-consuming and intimidating. After all, when done right, business plans have enormous payoffs.
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