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Requirements of a Business Plan

A business plan is a blueprint used to run a company. A good business plan consists of a few essential elements, and is structured to help keep the business running in an organized manner.

  1. Executive Summary

    • This should be the opening section of a business plan and it should contain summary information about the company's structure, product offering, the revenue projections and budgetary needs.

    Competition Analysis

    • It is important to have a detailed understanding of the competition and how the company plans on addressing the challenges of competition. This is more of a summary of how the competition functions within the industry rather than a comparison between the company and the competition.

    Executive Staff

    • The executive staff section of a business plan should include a list of all company executives, their function within the company and their industry experience in the form of a resume.

    Sales and Marketing

    • The sales and marketing section will outline the sales staff structure, sales approach and methods that will be used to gather new business, and marketing ideas, including advertising suggestions and a budget for each department.

    Purpose

    • A business plan is used as a summary to potential investors, and as a guide for the executive team to run the company in a consistent manner.

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