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Business Planning

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Business Plan
A detailed description and forecast for a business used to reduce risk
Potential for loss but rewards in business make it a calculated gamble
Not knowing the future or what is going to happen
A technique where the business attempts to estimate future sales
Money for different stages of growth provided by different sources
Market Research
Details found out about the business's chosen market
Market Strategy
The ways in which the business intends to promote and sell its product
Unique Selling Point (USP)
The factor which makes the product or service one-off