Business Planning Process
The conducting of feasibility studies and development of professional business plans are key services which Black StartUps provide. A feasibility analysis tells you whether a business idea is viable whilst the business plan tells how the idea will be implemented. Whatever type of business you wish to engage in, you should firstly obtain advice as to its viability before investing in a business plan which is like a road map for successfully implementing a business idea, which should be assessed as viable in a feasibility study.
The most common type of business plan is a startup business plan which describes a new business concept. This plan documents the intended business concept and lays the road map for the implementation and management of the business concept along the path of success.
Over 50% of new businesses fail within their first year of operation. Apart from mere luck, well thought out and documented feasibility studies and business plans are the only way to ensure the successful implementation of business ideas.