Components of a business plan

There is no standard approach in preparing a business plan. There are many variations on the theme of what exactly goes into a successful business plan. All the variations however have the same basic elements. These are;

1. A brief description of the business background and purpose
2. Objectives: These should be both long term and short term
3. Products and services that will be offered
4. Competition
5. Market analysis and marketing strategy
6. Development and production plan/ Operations
7. Management and staffing
8. Financial Plan: This includes current and projected financial statements

Other aspects of a business plan that may be necessary for a successful write up are;
1. Executive Summary
2. Attachments/ Supporting documentation

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