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Drexel Library

Business Planning

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Business Formation Statistics

What is a Business Plan?

A business plan is a written document that describes the business, outlines business goals, and details the route that will be taken to achieve those goals. Key components of a business plan include: a description of the company's organization, management, and products or services; financial projections; funding requirement; analyses of the industry, market, and competitors; and sales and marketing strategies.

Every business should have a business plan that projects three to five years into the future. Think of the business plan as both an operational roadmap and a "living document" that evolves as the business develops. 

Video: Writing a Business Plan

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