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A business plan encompasses many different aspects of business including marketing and advertising, financial, operations, human resources, and strategic plans. It also has your mission and vision statements. All of this is important to focus on when going to a bank to borrow loans as well as giving yourself an outlook of what you want to accomplish.
A marketing plan deals with the 4 Ps (product, place, price, promotion) This needs to be an in depth look on how you want your product/service to be viewed in your potential customer's eyes. It also must show a budget of advertising and marketing costs.
A strategic plan is where you want your business to be in 5-10 years. In contrast to a tactical plan(2-3 years).
Business plans take loads of energy and time and must be very well articulated. There are many great starter books that walk you through the process of creating a business plan at your local Barnes & Noble.
A business plan encompasses many different aspects of business including marketing and advertising, financial, operations, human resources, and strategic plans. It also has your mission and vision statements. All of this is important to focus on when going to a bank to borrow loans as well as giving yourself an outlook of what you want to accomplish.
A marketing plan deals with the 4 Ps (product, place, price, promotion) This needs to be an in depth look on how you want your product/service to be viewed in your potential customer's eyes. It also must show a budget of advertising and marketing costs.
A strategic plan is where you want your business to be in 5-10 years. In contrast to a tactical plan(2-3 years).
Business plans take loads of energy and time and must be very well articulated. There are many great starter books that walk you through the process of creating a business plan at your local Barnes & Noble.
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Comment by B — 2009/03/27 @ 2:15 pm