7 Steps to a Perfectly Written Business Plan Your business plan is how investors and potential partners see that you know everything you can about your industry.
By John Rampton Edited by Dan Bova
Opinions expressed by Entrepreneur contributors are their own.
Every business needs to have a written business plan. Whether it's to provide direction or attract investors, a business plan is vital for the success for your organization. But, how do you write a business plan?
SBA.gov recommends that a business plan include:
- Executive summary -- a snapshot of your business
- Company description -- describes what you do
- Market analysis - research on your industry, market and competitors
- Organization and management -- your business and management structure
- Service or product -- the products or services you're offering
- Marketing and sales -- how you'll market your business and your sales strategy
- Funding request -- how much money you'll need for next 3 to 5 years
- Financial projections -- supply information like balance sheets
- Appendix -- an optional section that includes résumés and permits
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