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The essential elements of a professional business plan have been updated in accordance with new laws and regulations in this revised guide that translates complicated marketing and financial concepts into down-to-earth, practical advice. Five updated sample business plans are included with instructions that provide a wealth of detailed information about the operation of a successful small business. Plans are presented for simple one-person operations, as well as for corporations with many employees. Aspiring business owners can learn how to create a professional plan, describe the mission and objectives, analyze the competition, target market, create sales and marketing plans, generate financial statements, and use the business plan as a management tool long after it is completed.