What Is a Business Plan
A business plan is a document that describes a business, its products or services, how it earns (or will earn) money, its leadership and staffing, its financing, its operations model, and many other details essential to its success. Your business plan is not only a necessity when seeking financing for your project, it is a recognized management tool that outlines exactly what your company will do and how it plans to succeed.
Elements of a Business Plan
The business plan includes the following elements:
- The proposed company name and a description of your business.
- A market and competitor analysis.
- A discussion of what makes you different from the competition.
- A marketing plan and SWOT analysis.
- Organizational and legal structure.
- Sales plan and financial forecast
- Executive Summar
- Sales and Marketing—Create a unique brand, develop your marketing plan, set sales targets.
You should have measurable targets so you can monitor your progress towards them through the year.
