Depending on your main purpose for having a business plan, you can develop sections with more diligence. For example, if you’re seeking outside funding, make sure that the financials section is as thorough and accurate as possible. A traditional business plan is sectioned into seven or eight major parts. At first, that number of parts might seem a bit overwhelming. Understanding the purpose of a business plan, organizing the pieces of your dreams into tangible goals, determining when you need help and what to expect, and getting long-term value from the plan you make today. Starting and managing a business without a business plan is, like it or not, the same as searching for a buried treasure without a map: although you know that the gold is in the ground somewhere, you’re wasting an awful lot of time by randomly digging holes in the hope of eventually hitting the jackpot. Without a plan, the odds of success aren’t in your favor.
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Executive summary 01:20
Business or product description 01:50
Market analysis 02:20
Competitive analysis 02:41
Management team 03:31