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Legal Research and Writing for Attorneys - Lisa Solomon, Esq

Markets/customers, product/service development, and sales, provide the only true basis for businesses to define direction, development, growth, etc., and thereby business strategy and planning. Business planning always starts with or revisits the basic aim or need to provide products or services to customers - also called a market or 'market-place'. Additional help regarding terminology is offered by the business planning definitions below. Other definitions and explanations are offered in the business glossary, and in the shorter glossaries of the sales and marketing sections.

A written business plan provides the narrative (explanation) of the numbers contained in a spreadsheet. A format or template for the written business plan, including numbers as required, is given below.

Towards the end of this article there is also a simple template/framework for a feasibility study or justification report, such as might be required to win funding, authorisation or approval for starting a project, or the continuation of a project or group, in a commercial or voluntary situation. Ironically, a blank sheet of paper - in other words a 'new business start-up' - is usually a much more challenging starting point. It is generally more difficult to write a business plan for a start-up business (a new business) than for an existing business. Take a financial healthcheck with the Money Advice Service. What we're saying about debt. Policy research and campaigns.

Consequently business plans tend first to look outwards, at a market, before they look inwards, at finance and production, etc. This means that most business plans are driven by marketing, since marketing is the function which addresses market opportunity and need, and how to fulfil it. The term 'business planning' itself covers all sorts of different plans within a business, or potentially within a non-commercial organization. The words 'strategy' and 'strategic' arise often in the subject of buisness planning, although there is no actual difference between a 'business plan' and a 'strategic business plan'.