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an important task in starting a new venture is to develop a business plan. as the phrase suggests, a business plan is a " road map" to guide the future of the business or venture. the elements of the business plan will have an impact on daily decisions and provide direction for expansion, diversification, and future evaluation of the business. how to start a hotel: 5 keys to success. starting a hotel requires careful choice of a location and strategy, a business plan, access to considerable financial resources, and a customer service mindset. 1) location and opportunity. the location for your hotel is highly linked with the opportunity that you feel there is for your hotel. there are tons of articles and books on how to write a good business plan, but still i get a lot of questions on how to write a business plan effectively. in this article i' ll show you ( 1) what a business plan is, ( 2) why, when and for whom to write the business plan, and ( 3) the elements of a good business plan. what is a business plan a business plan is a 30- 40 pages long.
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