By on February 13 2018 12:39:25
A standard business plan consists of a single document divided into several sections, including a description of the organization, the market research, competitive analysis, sales strategies, capital and labor requirements, and financial data.
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.
While it’s not essential to have a business plan, you may find it easier to get funding if you have one that is well thought out and contains all of the necessary detail about your prospective business.
A business plan gives an outline of your business, the market in which it will operate and how it aims to make money - and should answer this question: why will your business succeed when so many others fail?
business plan templates
business plan outline
free business plan