Question

in a bid to secure fund you are required to prepare a detailed business plan not more than two pages

Answer 1

A business plan can help you clarify your strategy, identify potential obstacles, decide what resources you will need, and evaluate the viability of your idea or growth plan before starting a business.

Whatever the reason for writing a business plan, it may still feel like homework. When you start a business, your to-do list is a mile long and full of immediate rewards such as product photography, creating advertising campaigns and opening social media accounts.

Not all businesses start with a formal business plan, but many founders find it useful to spend time retiring, researching the ideas and markets they are looking for, and discovering the scope and strategy behind their strategy.

A business plan is a document that describes a business, its products or services, how to make money (or earn money), management and staff, finance, financing, operating models and many other details that are important to its success.

Investors rely on a business plan to assess the feasibility of a business before financing it, which is why a business plan is usually associated with obtaining a loan. But there are good reasons to consider writing a business plan even if you do not need a budget.

Plan. Writing your plan is an invaluable exercise in articulating your ideas and can help you understand the size of your business as well as the amount of time, money and resources you will need to get started.
Concept evaluation. If you have some ideas in mind, a difficult business plan for everyone can help you focus your time and energy on those who have the greatest chance of success.
Research. To write a business plan, you need to research your best customers and competitors - information that will help you make strategic decisions.
Phone calls. Your business plan is one of the easiest ways to communicate your vision to potential new tenants and can help build their confidence in the endeavor, especially if you are in the early stages of growth.
Partnership. If you plan to partner with other companies to collaborate on an overview of your audience vision and growth strategy, it will be easier for them to determine if your business is right for them - especially if they are going on. Another face with you in their evolution.
Competition. There are many competing business plan competitions that offer rewards such as referrals, grants or venture capital. To find relevant competition in your industry and field, try "Business Plan Competition + [Your Location]" and "Business Plan Competition + [Your Industry]".