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".
This situation is complicated by the fact that many venture capitalists will refuse to sign an NDA before looking at a business plan, lest it put them in the untenable position of looking at two independently developed look-alike business plans, both claiming originality. In such situations one may need to develop two versions of the business plan: a stripped down plan that can be used to develop a relationship and a detail plan that is only shown when investors have sufficient interest and trust to sign an NDA.
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.
Total quality management (TQM) is a business management strategy aimed at embedding awareness of quality in all organizational processes. TQM has been widely used in manufacturing, education, call centers, government, and service industries, as well as NASA space and science programs.