A business plan is a tool with which your essential qualitative and quantitative company information can be documented for investors in a compact form, information regarding existing growth or risk potentials, beyond annual financial statement and report. As an entrepreneur, you should know more about the goals, concepts, and instruments of an effective business plan to gain investors trust and convince them back your startup. From an external point of view, the business plan represents the main financing tool for your company. In addition, it serves to secure existing or planned business relations between your company and your stakeholders.
Business plan - Wikipedia
A business plan is a formal written document containing the goals of a business , the methods for attaining those goals, and the time-frame for the achievement of the goals. It also describes the nature of the business, background information on the organization, the organization's financial projections, and the strategies it intends to implement to achieve the stated targets. In its entirety, this document serves as a road-map a plan that provides direction to the business. Written business plans are often required [ by whom? Existent templates  and guides, such as the ones offered in the United States by the Small Business Administration  can be used to facilitate producing a business plan.
External Factors that Affect a Business
Business risk is an umbrella term for the factors and events that can impact a company's operational performance and income. Business risks can hinder a company's ability to provide its investors and stakeholders with expected returns. However, a company can reduce its exposure to business risk by identifying internal risks and external risks. Business risk is the exposure a company faces that could eventually lead to lower revenue, profits, and financial losses.
How to Create an Internal Business Plan. Most businesses have an external business plan, which details goals and actions in the marketplace by the business. This focus on the external can lead to disorganization within the company itself, because the focus of the plan is outward.