Business Overview- This section will cover the objectives, mission and vision of the business. The goals of the business should be properly outlined in this section.
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.
Executive Summary : Your business plan should start with an executive summary. This will outline the purpose of your enterprise, for example to sell handcrafted wooden furniture, and how you will achieve this goal. It should be brief and to the point.
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.
business plan definition
business plan templates
business plan samples