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A business plan should include all the important matters that will contribute to making your business idea a success. These generally include the following:
- Your basic business concept.
- Your products and services and their competitive advantages.
- The markets you'll pursue.
- Your strategy and the specific actions you plan for implementing it.
- The background of your management and key employees.
- Your financing needs.
Since business plans vary greatly in length and detail, the amount and type of information contained in a business plan also varies. Always keep in mind your audience's time is extremely valuable. Don't waste a reader's time by including unnecessary information just to fill pages. Your business plan should contain just enough information to accomplish its goal. No more. No less. Business plans are often 15 to 20 pages in length, but your plan may be shorter or longer.
Most business plans are presented to a reader in an outline form, divided into major sections (or chapters) and subsections. This layout makes a business plan easy to read and easy to navigate. Below is a list of the main sections often included in a comprehensive business plan:
Executive Summary
Company Background
Products
Services
The Industry, Competition and Market
Marketing Plan
Operating Plan
Management, Organization and Ownership
Goals and Strategies
Financials
Next Topic: What are financials?
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What should a business plan include?
