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A business plan gives an outline of your business, the market in which it will operate and how it aims to make money - and should answer this question: why will your business succeed when so many others fail?
It is definitely not the most exciting part of starting a business. In fact, if you are like a lot of entrepreneurs, you are probably going to find yourself pulling a few all-nighters to get one done before heading into your first pitch for funding. Because that is the thing--your business plan is a pretty important.
Business/Industry Overview contains an overview of the industry and how your business will compete in the sector. Describe the overall nature of the industry, including sales and other statistics. Include trends and demographic, economic, cultural, and governmental influences. Describe your business and how it fits into the industry. Describe the existing competition. Describe what area(s) of the market you will target and what unique, improved or lower cost services you will offer.
Be specific. Being specific is just as important as being concise. The details will help you drill down into how you will actually deliver your plan.
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