The document discusses the importance of developing a business plan for new ventures. It outlines the key components of an effective business plan, including an executive summary, description of the business and products/services, competitive analysis, marketing strategy, management team, and financial projections. Developing a thorough business plan helps entrepreneurs effectively organize and plan their venture, assess feasibility, and secure financing from investors or lenders. Regular monitoring and updates to the plan are also important as the business evolves.

1. Business Plan Development February 25, 2011 Dr. Dawn G. Gregg Interim Administrative Director & Associate Professor Bard Center for Entrepreneurship