Business Plan and Business Idea July, 2014 | Page 2

Description:
A business plan is a formal articulation of a set of business goals, the facts that make them achievable,
and the set of plans and actions for achieving those goals. A good business plan consists of nine parts
that are:
1. Executive Summary
The executive summary is a very important section of business plan. It explains your current business
standing, where you want to take it and why your business plan will be successful. If you need a
financer, the business plan is an effective tool for that as well.
2. Organization Description
It explains in detail the different prospects of your business. This is like a detailed explanation about
your company and it helps readers to easily understand the goal of your business.
3. Market Analysis
This section contains all the research, study and your recommendations and conclusions about the
market you will be catering to. This segment is normally exhibited after the organization description.
4. Organization and Management
This segment includes your organization's hierarchical structure, the ownership details about the
company, management teams’ profiles, and the board of directors’ qualifications.
5. Product Line or Services
Here you tell about the benefits of your products and services to current and potential customers.
Explain reasons why your products will be accepted in the market.
6. Marketing and Sales
This step contains the information about the marketing and sales management strategies that you will
be implementing for the promotion of your products and services.
7. Funding Request
This section is used to obtain funding for your venture.
8. Financial Projections
Here, you need to provide the financial projections after you have set targets for your business. Then
you can effectively allocate resources.

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