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A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them. It may also contain background information about the organization or team attempting to reach those goals.

Cover all bases. Before embarking on your plan it is a good idea to undertake some research in to what a professional business plan should include. You can then use this as a check list to make sure you have covered all the relevant areas. Sections of the business plan should include information on the company, the product/service market, competition in the field, management team, marketing strategy, operations and financials.

Products and services-You should list down all your products or service offerings and highlight how it is different from your competitors, its basic features and advantages and in what way it will benefit your customers.

It also needs to be written in formal format and style. You have to remember that a business plan is something that you may have to present to your business partners, financial firms and banks. So if you can, refrain from using slang in any part of your plan.

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