A Plan For Your Business by bakersmith282


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A business plan is a formal articulation of a set of business goals, the facts that make them achievable,
and the set of plans and actions for achieving those goals. A good business plan consists of nine parts
that are:

1. Executive Summary

The executive summary is a very important section of business plan. It explains your current business
standing, where you want to take it and why your business plan will be successful. If you need a
financer, the business plan is an effective tool for that as well.

2. Organization Description

It explains in detail the different prospects of your business. This is like a detailed explanation about
your company and it helps readers to easily understand the goal of your business.

3. Market Analysis

This section contains all the research, study and your recommendations and conclusions about the
market you will be catering to. This segment is normally exhibited after the organization description.

4. Organization and Management

This segment includes your organization's hierarchical structure, the ownership details about the
company, management teams’ profiles, and the board of directors’ qualifications.

5. Product Line or Services

Here you tell about the benefits of your products and services to current and potential customers.
Explain reasons why your products will be accepted in the market.

6. Marketing and Sales

This step contains the information about the marketing and sales management strategies that you will
be implementing for the promotion of your products and services.

7. Funding Request

This section is used to obtain funding for your venture.

8. Financial Projections

Here, you need to provide the financial projections after you have set targets for your business. Then
you can effectively allocate resources.

9. Appendix

This section should be provided on as-per-need basis. Otherwise it should not be included with the main
business plan. Your communication is your business plan. It can generally be seen by everyone. However
some of the information is confidential, which is only meant for only some people such as creditors.
Thus appendix comes in handy for such people.

It is essential that you should know your target market and the reason why they would go for your
product. For instance: the market you are serving is it good for your service or product? Are your
business targets clear and aligned with consumer needs? If you don’t have clear answers to these
questions, it is better to take a step back and reevaluate your business plan.

Read more on business plan here: http://www.researchomatic.com/Business-Plan-154821.html


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