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Business Plan

A “business plan” is a detailed document that outlines the long-term strategy of the business, including goals for profit, cost, and income. It typically comprises budgets, a projected balance sheet, and a cash flow statement, all given in dollars and categorized by product family. This strategy serves as a road map, directing the company’s progress. A business plan is also a document made by an entrepreneur that details organizational characteristics, strategies, and financing approaches when starting a new business.