[Money Monday] 7 key ingredients to starting a business

A business plan — Lionesses of Africa

Business plan

This is an extremely important step for anyone starting a business, especially if you seek to raise funds from investors. A business plan will spell out your strategy and how to execute it.

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This plan should include details of the product, sales and marketing strategies. Investors would also like to have details about growth plans, market size, numbers, expected turnover, among others. Your business plan need not be long but must be comprehensive enough to cover all important angles of the business.