Show how your product or service will satisfy a need in your target market and help your business maintain a competitive advantage.
You should also include the scheduling, costs and personnel needed to deliver your product or service, along with any potential risks and how you will mitigate those risks.
Financial Projections This section forecasts the future financial health of your business.
It should include three documents: an income statement projecting how much your company will earn or lose; a cash-flow statement illustrating how much cash your business will need and where that cash will come from; and a balance sheet reflecting how much your business will own versus how much it will owe.
Marketing and Sales Strategy This section details how you will market and sell your product or service.
The marketing strategy includes how you will identify and attract customers; how you will grow your business; how you will distribute your product or service; and how you will communicate with your target market.
A business plan is essential to attracting investment for startups.
It is also an important tool for managing and expanding an established business.
Organization and Management This section captures the organizational structure of your business and the background of its key people.
It discusses your business’s divisions, their respective responsibilities and how they interact.