Your business plan is the core document that helps define your company to your employees, to your future customers, and to credit and service providers.
Treat your plan as a working document. Once you write it, seek feedback from experienced business owners and bankers to refine your content. Update and edit it on a regular basis; it will help guide you in your decision-making and provide the core for subsequent strategic plans.
Your plan should include:
- A detailed description of your company, including how it will be managed and staffed
- A market scan and competitive analysis of your proposed market differentiation
- Financial projections to forecast breakeven points and capital needs
- Sales and marketing plans to illustrate how you plan to grow
- An appendix to provide detailed quantitative support for your projections.