Business Plan Elements Structure

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A business plan provides direction, keeps you on track and is usually a requirement when you seek finance.This identification of target market will very much affect other operations in the company like marketing, manufacturing and the likes.It is important for market profiles to be specific because the success of the company will rely largely on how much this target market’s needs are identified and met.The executive summary gives the outline of the plan’s key sections like your company’s mission and vision, brand profile, target markets, product and services, competition, marketing strategy and financial aspects.A good executive summary is engaging and brief, with just the first two pages convincing the reader to read on the entire business plan.This part has a clear view of the financial projections of the company for the first few years of the business.This part includes income statements, anticipated profits, cash flow analysis and break-even analysis.This part of the plan provides visual graphs of what the business will be like one, three, five or more years from now.Lastly, the elements and components of a business plan would not be complete without the financials.This part is very important especially in terms of seeking capital because investors will be interested in the background of the company’s management team and their corresponding salary scale.Long-term development is another critical component of a business plan.

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