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 should include a market research that identifies your competitors, their share of the market and the range of the products they produce. By learning how they conduct their operations, you may learn tricks of the trade in the business you want to enter and you also get to have a basis on what you can do to excel.
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.
Business plans may target changes in perception and branding by the customer, client, taxpayer, or larger community. When the existing business is to assume a major change or when planning a new venture, a 3 to 5 year business plan is required, since investors will look for their investment return in that timeframe.
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