7 Things to Include Within Your Business Plan

when you want to start a business, or expand, or even just make a slight change, you should try and plan out what will be happening first. A business plan for a start-up business is one of the most important activities you will have to do when starting a business.
Why? You May Ask.

Not only is a business plan a way for you to know what needs to be done to start your business, it is also an essential tool if you are planning on getting outside financial investment. As well as this it clearly outlines objectives which need to be achieved to make your start-up business a success. They can take a long time to do, but if done properly a business plan can be the item which saves your business start-up from failing.
What to Include?

So… what do you need to include in a business plan? Below are 7 essential parts to a business plan.

An Introduction to the Business – Introduce your business and write out a couple of sentences about what the business will be about. This introduction will be used to look back on when you need business clarification.

Owners Information – You will need to include some information about yourself and whoever else will be involved in running the business. This needs to include a CV, the skills you have and details on the finances you are bringing to the business.

Staff Requirements – A brief introduction to what staff you need will need to be included so that you have an idea of what kind of people you will be looking for. If you always have staff on you mind then you will find the best easier.

Objectives – You will need to outline the businesses objectives and what you want to achieve in the first few months/years.

Marketing Plan – A plan of the market you want to set up in is needed, this will help show the gap in the market and why it is the right place to invest in. This will mean that you need to add any market research you have carried out.

Financial Information – Great care needs to be taken to look into financial forecasts. Profits, loses, cash-flow… it all needs to be taken into account so you have a clear look at how the financial situation will be in a few years. You will also need information on where the finance to start the business will come from and also if anymore is needed, and where you are planning on getting this extra money from. With the finances you should also include some collateral.

Future Plans – A plan of what you want to achieve throughout the life of the business should also be included, even if it is very brief.

As well as the above essentials, you should also try to think of anything else which is important and include this information. A more detailed plan will help a lot more if you come into trouble when starting the business.
The Decision

Although making a business plan can take a lot of time, in the long run it can be very useful because it gives your business direction. As well as this it lets you see how determined you are to succeed. If you are willing to make a detailed plan, then it shows you have more motivation, when if you really don’t want to make a plan, maybe starting the business in the first place isn’t the way to go?
Taken From (http://profitduck.com/7-things-to-include-within-your-business-plan)