Finally, a business plan should be error - free. This is important because your business plan defines who you are as a business person. If it turned out sloppy, then that does not speak too highly of you.
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.
Financial Projections : If you are planning on borrowing money then this is a very important section. If you are already in business and have a track record of earnings you can include that here. You can then extend out to the future based on your previous growth. The key to a successful business plan is to include all of the information that is pertinent but no extraneous information. It should be clear and to the point so that even someone who is not familiar with the woodworking industry can follow it. If you want to learn everything you need to know about starting your own Six Figure Woodworking Business pickup your free "Start Your Own Woodworking Business".
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.