How Do You Differentiate A Business Plan From A Business Proposal?
Every entrepreneur knows that a well thought-out map for a business is crucial to start and maintain the business. This may include a design on how to start up a venture, or a proposal that will invite additional capital infusion to an already existing enterprise. 1. Know what a business plan is. A business plan is drawn up by anybody who wants to start up a business. In the business plan, the vision, mission and goal of the business should be laid out. Business plans map out timetables on when to expect returns on your investments, marketing strategies to further reach out to as many clients as possible, and predictions on future capital infusion. 2. Know how important a business plan is. Capital is the lifeblood of a business while the business plan is the mechanism that assures that everything functions as planned. Even a small business venture will need a business plan which the owner can check periodically to guide him and enable assessment of his venture’s performance and trouble
