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Potential business partners need to know how their investment will be used, and ultimately, what it will achieve for the business. In this sense, your business plan is like your ambassador - showing how the various elements of your company are integrated into a vibrant whole

Ownership and Management Plan. This section describes the legal structure, ownership, and (if applicable) the management, and staffing requirements of your business.

Sales and Marketing Plan. A description of how you intend to entice customers to buy your product(s) or service(s), including advertising/promotion, pricing strategy, sales and distribution, and post-sales support if applicable.

Financial Plan. The financial plan section is the most important section of the business plan, especially if you need debt financing or wish to attract investors. The financial plan has to demonstrate that your business will grow and be profitable. To do this you will need to create projected income statements, cash flow statements, and balance sheets. For a new business, these are forecasts, and a good rule of thumb is to underestimate revenues and overestimate expenses.

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