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P1 Business Plan Agriculture Hd Calamac2a9o Agricultural Planning Templates And Resources Farming In

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A business plan is not a document you create once and store in your bottom drawer. It is a living guide that you should develop as your business grows and changes. Successful businesses review and update their business plan when circumstances change.

Preparing a business plan will help you work out the goals you want to achieve, and the strategies to achieve them. This means you can focus your resources and energy on what you need to do, rather than spreading yourself too thin. The planning process also helps you to consider possible bumps in the road and put a plan in place to better manage them if they do come up.

Business plans may be internally or externally focused. Externally focused plans target goals that are important to external stakeholders, particularly financial stakeholders. They typically have detailed information about the organization or team attempting to reach the goals. With for-profit entities, external stakeholders include investors and customers. External stake-holders of non-profits include donors and the clients of the non-profits services. For government agencies, external stakeholders include tax-payers, higher-level government agencies, and international lending bodies such as the International Monetary Fund, the World Bank, various economic agencies of the United Nations, and development banks.

Prospective business owners sometimes wonder if they really need to write a business plan, particularly if they’re not seeking a bank loan. However, if you want to clarify your thinking, set a tone and direction for your business, and a deeper understanding of your market, the answer is certainly ‘yes you do’.

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