Business Plan Objectives

The reasons for developing a business plan are basically three:

* Serve as a guide to starting a business or project, and to manage it: the business plan allows us to plan, coordinate, organize and control resources and activities and, thus, be more efficient in creating and managing our business or project, and minimize risk.

* To determine the feasibility and profitability of the project: business plan allows us to know the viability and profitability of the business or project, and thus whether it’s worth doing, or whether we should look for new ideas or projects.

* To demonstrate the attractiveness of the business or project to third parties: the business plan can demonstrate to third parties, attractive and profitable to our idea or project, and thereby convince them to give us a loan to invest with us, or that they are our partners.

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