A business plan is a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals. It also contain background information about the organization or team attempting to reach those goals.
The business goals being attempted may be for- profit or non-profit . For-profit business plans typically focus on financial goals. Non-profit and government agency business plans tend to focus on service goals, although non-profits may also focus on maximizing profit. Business plans may also target changes in perception and branding by the customer, client, tax-payer, or larger community.
If you do decide to seek a business loan for your small business, the first thing you will need is a business plan. You will not get outside funding without a good business plan. It will give the people who loan you money the assurance that you have considered your venture thoroughly and will be able to pay back the loan.
Your business plan should include a brief introduction, including a description of the service or product you intend to provide. Also tell what experience you have in the world of commerce and in this particular type of business.
• Anything else that will help to illuminate and/or sell your plan
These elements of a good business plan will take you a long way toward establishing a successful business. Whether or not you plan to seek outside financial assistance, having thought through and planned these aspects of your business will help you succeed in your new business venture. I hope this helps you in preparing your own unique business plan.