A business plan is a crucial part of the success of a business it provides structure, identifies your goals, sets up a plan, and is used to encourage bankers and investors to provide financing for the growth of your business. A business plan furnishes you the chance to examine management strategies, marketing techniques, and your financial issues in an undistorted way. A business plan gives predictions of your company’s financial needs. A business plan is essentially the business guide and the tool that is used by lenders to determine if they will provide financing. According to the Small business Administration a business plan should include:
Executive Summary: an executive summery is your entire business plan summed up, it tells what your plan contains.
Company History/Organization/ Management Describes the company’s history and includes the legal formation of your organization, important changes, Associates percentage of ownership, and the primary roles they played in the firm's creation. It includes a description of your management team and your company’s method of making decision. Also an organizational chart should be included and a description of important personnel and their responsibilities. ...