Essential Elements of a Good Business Plan

What are the key elements of a business plan? From market analysis to your company financials, this guide walks you through the essential components of your plan, including how to develop a funding request.

  • Your executive summary is a snapshot of your business plan as a whole and touches on your company profile and goals. Read these tips about what to include.

  • Before launching your business, it is essential for you to research your business industry, market and competitors.

  • Your company description provides information on what you do, what differentiates your business from others, and the markets your business serves. 

  • Every business is structured differently. Find out the best organization and management structure for your business.

  • How do you plan to market your business? What is your sales strategy? Read more about how to include this information in your plan.

  • What do you sell? How does it benefit your customers? What is the product lifecycle? Get tips on how to tell the story about your product or service.

  • If you are seeking funding for your business, find out about the necessary information you should include in your plan.

  • If you need funding, providing financial projections to back up your request is critical. Find out what information you need to include in your financial projections for your small business.

  • An appendix is optional, but a useful place to include information such as resumes, permits and leases. Find additional information you should include in your appendix.

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