What is a Business Plan - Definition(s)

Here are some widely accepted definitions of "what is a Business Plan".

1. Wikipedia - A business plan is a formal statement of a set of business goals, the reasons they are believed attainable, and the plan for reaching those goals. 
   • It may also contain background information about the organization or team attempting to reach those goals.
   • Business plans may also target changes in perception and branding by the customer, client, taxpayer, or larger community.
2. Small Business Administration (SBA.gov) - A business plan precisely defines your business, identifies your goals and serves as your firm's resume. 
   • Its basic components include a current and pro forma balance sheet, an income statement and a cash flow analysis.It helps you allocate resources properly, handle unforeseen complications, and make the right decisions. 
   • Because it provides specific and organized information about your company and how you will repay borrowed money, a good business plan is a crucial part of any loan package. 
   • Additionally, it can tell your sales personnel, suppliers and others about your operations and goals. 
3. Charitable Success - Business Plans chart a course of corporate action and review with supporting financial analysis and milestones for effective and fiscally-aware completion of company mission, goals and objectives.

Continue Reading; How Business Plans Differ from Strategic (and other) Plans

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