The first is the business concept, where you discuss the industry, your business structure, your particular product or service, and how you plan to make your business a success.

There are three primary parts to a business plan: A good business plan follows generally accepted guidelines for both form and content. Sound impressive? It can be, if put together properly. So what's included in a business plan, and how do you put one together? Simply stated, a business plan conveys your business goals, the strategies you'll use to meet them, potential problems that may confront your business and ways to solve them, the organizational structure of your business (including titles and responsibilities), and finally, the amount of capital required to finance your venture and keep it going until it breaks even. They may also be used by firms that are trying to attract key employees, prospect for new business, deal with suppliers or simply to understand how to manage their companies better. They're used by investment-seeking entrepreneurs to convey their vision to potential investors. If you jot down a paragraph on the back of an envelope describing your business strategy, you've written a plan, or at least the germ of a plan.īusiness plans can help perform a number of tasks for those who write and read them. That's all there is to it-a document that desribes what you plan to do and how you plan to do it. A business plan is a written description of your business's future.

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