Elements of a Business Plan (part 1)
While every business plan is different because every business is different, they are all generally alike. Your business plan should include the following elements.
Executive Summary
The document starts with an executive summary describing the highlights of the business plan. Even though your entire business is well described later on, a crisp, three- or four-page introduction helps to capture the immediate attention of the potential investor or lender. The executive summary is just that—a compact summary of the whole plan. In it, you should explain
• what sort of company it is,
• what your product or service will be,
• why your business will be unique,
• whom the management team is comprised of, and
• how much money you need, in what stages, and how you will use it.
It is important that this summary be your best. Remember, this may be the only chance you have to attract attention. Some people say that busy lenders read only the executive summary; if it doesn’t grab them by the lapels, they move on to the next plan. Make sure your executive summary sells your idea so the reader will retain interest and continue reading. Because the executive summary is so important, you might want to write it last, after you have thought through the entire plan.
Table of Contents
Right after the executive summary will be a table of contents that lists the section titles and page numbers for easy reference.
Description of Business Venture
This is the heart of your plan. In it, you will describe exactly what your business is going to be and how you envision it proceeding. This section will contain:
• A description of your product or service. What is it? How is it different? Why will people want it? Why isn’t someone else doing it? What kind of equipment will you need? Do you have or can you get a patent? The thing you must do is put yourself in a potential investor’s place and ask yourself what he or she would need to know before investing in your business.
• A description of your business. Is this a wholesale business, retail, professional, or what?
Market Analysis
This is where all of that research comes in handy. Here you will identify your target market—your typical customers. You will also explain present buying patterns and offer trends, projected growth, customer behavior, complementary products or services, barriers to entry into the marketplace, and so on. Tell the reader what the total market is for your industry. For example: The computer repair market in the United States grew to more than $1 billion last year.
Next define your target market. If your business is going to be confined to your specific locale, then you need to explain what the market is like in your area. After this, you must narrow your market down even more and analyze what your total feasible market is. Finally, you must determine what your share of that feasible market will be. This is called your market share.
How will you capture that market share? That is what you need to know and what you need to convey. How will you position your goods or services in the market? What will your pricing strategy be? How will you promote yourself and your business? You should include in this section your sales strategy (sales objectives, target customers, sales tools, and sales support), distribution plan (direct to public, wholesale, or retail), pricing structure (markups, margins, and break-even), and promotion plan (media, advertising, promotions, and publicity).
Description of the Industry
This section will include statistics and information about your chosen industry. You want to include the following in this section:
• Industry outlook and growth potential, such as industry trends, new products and developments, etc.
• Markets and customers, including the size of the total market and market trends
• National and economic trends, such as population shifts, consumer trends, and relevant economic indicators
Researching and writing this section will enable you to understand the industry you are getting involved in much better.
Business Goals
Explain in this section where you see your company in one year, in two years, and so on up until the fifth year. Explain specifically how you will reach these goals and what will happen in different economic environments.
To be continued on part 2
W. Chris a young entrepreneur and businessman. Be a professional blogger since 2007 to share with her community and internet people for sure. 
