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Describe the manufacturing or operating process and associated costs. Contain believable finical projections, with key data explained and documented.

I say that because of course you need to be careful with commercially sensitive ideas, as you do not want to pass your plan on to someone in the pub who then starts your idea before you across the road.

Experts say that a strong business plan is one sure step in the direction of success. So, what is a business plan in the first place? It is defined as a document that outlines the functional and financial objectives of a business. It also contains details of the budget involved and the goals to be achieved.

Before the preparing the plan, the entrepreneur should: Review previous business plans (if any) and their outcome. This review will help highlight which areas of the business have proved difficult to forecast historically. Be very clear as to objectives on which their plans will be based. Set out the key business assumptions on which their plans will be based.

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