After marketing strategies are developed, the next step in market planning is business planning. A business plan is a thorough document that details a company's goals and how they aim to attain them. A business plan is a documented roadmap for the company's marketing, financial, and operational goals.
Business plans are useful for both startups and established businesses. A business plan is an important document that is intended for both external and internal audiences. An executive summary, the product and service sections, marketing strategies and analysis, financial planning, and a budget should all be included in a good business plan.
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