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You have an idea and want to open your own company. To present the goals of your future business, it is necessary to summarize everything and put it on paper. Therefore, before the realization of your business project, you need a business plan.

Every entrepreneur must be aware that he is creating a business plan primarily for himself, and it is the basis for future decisions and business improvement.

What is a business plan? It is a written document that contains a detailed analysis of the investment in the business, the expected results, information about the entrepreneur, and possible solutions for possible risky situations that the future may bring. A business plan is an important document that you should create first of all, for yourself, and then for the requirements of the environment, all with the aim of clearly and precisely defining all segments of the business venture.

The business plan describes the company, its current state, and future development. With its design, content, and balance, it can indicate to investors the possible weak points of the project. A business plan is a solemn and professional document that requires careful preparation and knowledge, a professional approach, a lot of time spent on data collection and analysis, serious assessments and forecasts, and market and competition analysis.

Understanding the external and internal factors that affect the business, growth, and development of the company is of great help in presenting your idea, project, and innovation according to the methodology of the business plan. The mentioned factors can be internal (those over which the entrepreneur has influence and can manage) and external (those beyond the possibility of the entrepreneur’s direct influence).