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Basic Business Information : Here you will list basic information about your business. This should include the hours of operation, how long you have been in business, your contact details such as your phone number, email address and website. This does not need to be extensive but should cover the essentials of your business operation.

Attention to detail. A plan that is concise and clear reads professionally so don't make yours too wordy. The reader needs enough detail and information to be able to make an informed decision. As with all professional documents, care must be taken to avoid spelling mistakes and use correct grammar and punctuation. A plan that makes absurd or unrealistic assumptions is of no use so stick to the facts and make sure you are making credible projections and accurate content at all times.

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.

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