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Management by objectives (MBO) is a process of agreeing upon objectives (as can be detailed within business plans) within an organization so that management and employees agree to the objectives and understand what they are in the organization.

The market potential for your service or product-You need to convince your customers and employees for your products and services you are offering and hence you have to find out the market which needs that product or service.

Executive summary- The executive summary is the backbone of the business plan and it should include a brief background of the business concept, company's objective's or your plan, ownership structure, management team, service offering, target market(s), competitive advantages, marketing strategy and high-level financial details like expected profit, required funding etc. It helps the bank or finance executives to get an idea of your business.

An exit strategy- A business plan becomes perfect only when you write a good exit strategy for the investor. It is important to note that investors generally have a 3 year horizon within which they want to exit. The author is the partner at IntelligentQ. IntelligentQ specializes in Integrated Marketing Communications: Business Content, Sports Content, Business Plans.

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