Business Plan The

Business Plan The business plan also called business plan is a document that specifies, in written language, a business that intends to start or already started. It outlines the overall purpose of a business, including topics such as business model, the organization chart, the source of initial investment, the necessary personnel along with their method of selection, the philosophy of the company and its plan output. Generally considered a business plan is a living document, meaning that one must be constantly updated to reflect changes not previously foreseen. A reasonable business plan to justify the expectations of the company’s success is critical to raise funds and venture capitalists. It is usually made by entrepreneurs when they intend to start a business. In this case, is used internally for management and corporate planning. Moreover, what used to convince third parties such as banks and potential investors (eg.business angels or venture capital firms) to provide funding to business (1). This plan may be a commercial representation of the model to be followed. Collect verbal and graphic information on what the business is or will be. He is also considered a summary of how a business owner, manager, or entrepreneur, try to organize work and implement business activities necessary and sufficient for success. The plan is a written explanation of the business model of the company to be launched. Usually the business plans are obsolete, so a common practice is its constant renewal and / or updated. A common belief within business circles is about the true value of the plan, dismissing it too, but it is believed that the most important is the planning process, through which the manager acquires a better understanding of the business and of the available options.The Business Plan is a strategic document with two main functions: 1. To determine the economic and financial viability of the business project. 2. It’s going to be just the first image of the company before third parties. The major applications that present a business plan are: It is a useful tool for the own team of developers since it can detect errors and properly plan the implementation of the business prior to the start of the investment. facilitates obtaining bank financing, since it contains the forecast financial statements and financial reports and business well on its viability and solvency. You can facilitate negotiation with suppliers. Recruitment of new partners or collaborators.