Business Plan

A business plan is a document used to evaluate the feasibility of a new business idea in an objective,
critical, and unemotional way.

Suggested structure for a business plan:

depends on the instructions *

Executive summary
Dos
Overview briefly the business by summarizing
the key points of the paper Inform. Present facts, figures, and projections

Be realistic. Be prepared to explain the “why” behind

Business description every point of the plan

State the company’s vision, mission and goals Be concise but thorough
Describe product/service, target audience, and the
Use subheadings and bullets
remarkable features of the brand
Add graphs and charts where applicable

Market analysis Base financial projections on facts and research. Be

Identify industry trends, main competitors, and prepared to justify the figures presented
customer demographics
Write the Executive summary section when the
Business plan itself is ready
Marketing strategy
Create a promotional plan and explain the Don’ts
rationale behind it
Persuade. Business plans are not aimed at
demonstrating the author’s argumentation skills
Operational strategy
Make unsubstantiated assumptions
Determine business location, required inventory and its
transportation (if applicable), necessary personnel, and Include only general statements (“We will provide
management strategy world class service and the lowest possible price.”)

Ignore subheadings
Financial analysis
Base financial projections on rough estimations
Project expenses and income
Fail to consider all possible pitfalls of the plan

Future prospects
Discuss the company’s long-term goals and possible
challenges

* — The customer’s instructions usually specify which sections of the business plan have to be
covered. As a rule, business plans do not require introduction and conclusion sections. There is also no
standard as to which sections must be included into the document since each business is unique.