Business Plan

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Business Plan

A formal statement of what a business wants to accomplish and how it intends to accomplish it. A business plan includes a vision statement, which is a brief summary of the company's goals (usually some variation of "to make money by creating a superior product"). It also includes details of the products the company makes or intends to make, how it will sell them, and how much they will cost. A business plan nearly always includes a budget. Such plans are important to investors, who want to know how their money is supposed to be used, and to management to help keep a company on track.

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