What is a Business Plan? - Explained

Business Plan

If somebody making a house or an apartment, there's always a blueprint. If a chef is making family dish, there's a recipe which got advanced with the time and mentioned in a book. There's always something that keeps everything perfect from others.

What is a Business Plan?

A business plan is a blueprint of a business. Business plan does cover the 360 degree operation plan of the business which can be clustered into short tail and long tail of the business.

There are business which are formed to make profits and there are businesses which are formed to make non-profits. Each of the business type does have characteristics into the business. Whether the business is making product or a service

When a business is formed by the owner or owners, it does have a mission or a goal to achieve with a financial year. Almost all the business owners in the world do have a set of goals which the business needs to achieve in a certain time period. Usually the time period starts at quarter which means three months and runs up to a period of 5 years and more.

Business plan consist what the organization including the owner and all the staff members of the business keep focusing on to achieve in a quarter or a year. If it's a newly formed organization there should be a product or a service which needs to be developed by the human effort.

Developing the product or a service that can be sold to general public or whatever the target market audience and many more includes in the business plan. The budget and how much the business willing to spend for a quarter and more is mentioned and planned in a business plan.

Business plans can be dynamic and can have customization according to the previous and planned years or annual quarters. Business plan can be changed according to the requirements of the business owners with the time period and the interests.