Financial Plan- This is the most important part of the business plan where you need to show the three year projection of the projected financial statements, including income statements, pro-forma balance sheets, and monthly cash flow and annual cash flow statements which will help in forecasting your revenues and expenses.
It should include a market research that identifies your competitors, their share of the market and the range of the products they produce. By learning how they conduct their operations, you may learn tricks of the trade in the business you want to enter and you also get to have a basis on what you can do to excel.
A business plan is the utmost requirement for securing your financial needs. There is a pattern for writing a good business plan which one should follow to get success. The major components of a business plan are as follows:
A brief account of how the company began- You should mention in your business plan the history behind the formation of you company and the background of the founders and directors.
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