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- 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.
The primary difference between profit and non-profit organizations is that "for-profit" organizations look to maximize wealth versus non-profit organizations, which look to provide a greater good to society. In non-profit organizations, creative tensions may develop in the effort to balance mission with "margin" (or revenue).
A business plan is the utmost requirement for securing your financial needs. There is a pattern for writing a good business plan which one should follow to get success. The major components of a business plan are as follows:
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