1. What is a business plan? Why does an entrepreneur need a business plan?
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Business plans typically include detailed information that can help improve the business's chances of success, like a market analysis, competitive analysis, customer segmentation, marketing, logistics and operations plans, cash flow projection and an overall path to long-term growth.
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A business plan is a formal written document containing business goals, the methods on how these goals can be attained, and the time frame within which these goals need to be achieved.
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