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It needs to have a list of everything you need. Note that the word everything here comprises of the equipment, technology, raw materials, financial and other resources that you may need when starting and running your business venture. Having all these listed will give you an idea on how much capital you need before you start and how much money should you make in a day to make your business survive.

Basic Business Information : Here you will list basic information about your business. This should include the hours of operation, how long you have been in business, your contact details such as your phone number, email address and website. This does not need to be extensive but should cover the essentials of your business operation.

A business plan should be detailed. In listing your products and services for example, you should not really stop by just enumerating them. You also should write down the descriptions and scope of your products and services, touch base on production and identify means on how you can market your "brain - child" to your targeted niche.

Assess your competition. Understanding your competition is an essential component to understanding any business environment. Whatever the business you are looking to establish, you will always have competition in varying degrees. Perhaps you want to open a restaurant in an area that is already saturated with eateries; you then need to think about what is the unique selling point of your restaurant. Or maybe you have found a niche in the market, why is that? In order to make your business a success you should look to your competitors to see how they are managing their business or areas where they could improve. You also need to assess whether you can compete effectively with the existing businesses and how you plan to do so.

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