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Do your research. In order to be able to write a strong, comprehensive business plan you need to possess a sound knowledge of the market you are involved in. You need to actively conduct market research and ensure that your plan makes reference to your findings. It should include factors such as market size, the predicted growth path of said market and how you propose to gain access to it. For example, if you are planning on opening a bar then your business plan should include figures based on the local population, cost of suppliers, predictions about whether the bar industry is likely to grow or decline in the area and a review of the competitive environment.

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).

Traditionally business plans have been highly confidential and quite limited in audience. The business plan itself is generally regarded as secret. An open business plan is a business plan with unlimited audience. The business plan is typically web published and made available to all. In the free software and open source business model, trade secrets, copyright and patents can no longer be used as effective locking mechanisms to provide sustainable advantages to a particular business and therefore a secret business plan is less relevant in those models.

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.

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