Unit 3: The Business Plan
A strong business plan is one of the foundations of a successful business. It is the tool by which a great idea becomes an opportunity. It is the creative process that allows the entrepreneur to document the project's merits and to articulate a narrative, addressing the venture's risks and rewards, to his or her potential investors, partners, and other stakeholders.
This unit will present the outline of a business plan, explain the importance of each section, and provide you with guidance as to how you can craft this information for your own ventures. We will also cover the "dos and don'ts" of preparing a business plan. Lastly, this unit will emphasize how the business plan is not the business itself; it is only a step from idea to venture, and it is imperative that you understand how to articulate the business plan succinctly, cleanly, and carefully.
Completing this unit should take you approximately 14 hours.