There are many parts of the process that might be challenging when writing business plans. But these are some of the most typical difficulties that people run into when developing a business plan:
For startups:
The financial plan is the most challenging. It is difficult to project financial data for a new company. Finding a company that is similar and attempting to estimate its earnings is your best option.
For existing firms:
One of the most difficult aspects for established organizations can be market analysis. It is challenging to identify the target market for a new product, comprehend competitors, and identify market trends & ways to adapt to them.