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First of all you need to know what business plan is. So a business plan is a formal written document for the future plan of your business. In business plan we describe what we are planning to do and how we plan to do.

Business plan are helpful to fulfill your different task and the acknowledgement of that task. It is design for investor so that they understand your vision about your company and your business. Business plan are also used to garb the employee, to start any new business, dealing for your supplier or to explain in this how to run company better in the future.

So here is a question arise that what we include in the business plan? So in a simple meaning a business plan transfer your business goals and objective, the strategies you will use to achieve that goals, critical factor in your business and a ways to solve this, also include an organizational structure, how much investment you required.

Below there are three primary parts to a business plan:

  • The first is the business concept, in this part you give the introduction of your industry, your company over structure, what type of product or service you offer and what you are doing for further improvement and success.
  • The second is the marketplace section, in this part you will find your target customers like which gender group, age and other thing, what are the factor that they buy your product not your competitors. In this part you can also describe your competitors and plans to beat them with the product features.
  • Finally, the financial section this part reflect your income and cash flow statement, balance sheets and different financial ratios. This part may related to your finance manager and some program

These primary three main steps are further divided, a business plan consists of seven key components which are given below:

  1. Executive summary
  2. Business description
  3. Market strategies
  4. Competitive analysis
  5. Design and development plan
  6. Operations and management plan
  7. Financial factors

Also business plan contain a cover page, title page and a table of contents.

Now I think you were all understand why you need the business plan, so for that you do some homework about the information you need for the business plan. This is the time to note all the information rather than to remember in the mind. The below elements are clear all your question about the business plan.

AUTHOR BIO:

Christopher is a writing service in the UK that help students worldwide in their academic papers, an inbound marketing and sales platform that helps universities attract visitors, convert leads, and close to students. He's PhDs and Masters from various fields with intense professionalism and vast experiences. I openly invite you to test our quality services and feel the difference.

Source: Essay Writing Service.

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