A business plan includes an outline of the goals, expected expenditures, promotion materials and even the exit plan. As the business proceeds, these aims serves as a map and measure and it also helps the company be continuously reminded of their priorities.

1. Scott Droney
Fundamentals of Preparing an
Effective Business Plan

2.  A business plan includes an outline of the goals,
expected expenditures, promotion materials and
even the exit plan. As the business proceeds,
these aims serves as a map and measure and it
also helps the company be continuously reminded
of their priorities.

3. Taking care of Vision and Mission:
 In any organizational venture, the vision and
mission is the first thing to take care of. This shall
indicate the direction of the company's business,
what are their goals, purpose and expected
achievements.

4. Giving an Introduction:
 Give a brief and comprehensive summary of how
the plan or company came into existence. On
what basis is the idea for the business? Who are
the people linked and in charge of the idea? Why
did you start a new business?

5. Define the Goals and Objectives of
the Company:
 Define both the short-term and long-term goals
and what are the factors to focus on immediately?
In long-term period which areas will have to be
addressed? How long will be the expansion time
of the company? When is the expected date of
realizing the profits?

6. Special attention to Products and
Services:
 It is vital to give special attention in presenting the
products and services the company plans to offer
and discuss the features of these products or
services. Describe how your products and services
will compete in the market and how the company
shall react to the needs and demands of the
market.

7. Short Biography of the
Management:
 The plan should also include a short biography of
individuals in the management. It should provide
the names and backgrounds of every person and
indicate the positions and responsibilities they
have to fulfill.

8. Implementation of Marketing Strategy:
 An effective plan must also show the marketing
strategy that shall be implemented. This will
indicate how business is maintaining its place in
the market. Promotional materials should be
properly defined, whether it will utilize the print,
television, Internet or the combination of all three.

9. Financial forecast given for a target
period:
 The usual periods taken are three-year or five-year
terms for the forecast of financial period. It
includes spreadsheets, formulas, statements and
even some assumptions that involve technical
assistance. This part should be prepared carefully
and professionals should be consulted if required
to ensure that this is properly worded and
presented.

10. Strategy of Alternative for the Company:
 This is often be called as the exit strategy. It is a
section that defines the alternative of the
company. It also lists down the standards and
situations when the company will have to end.
Specific income generation, a target figure or even
some actions that will be decided upon by the
company leaders are the basis of this strategy.