Don’t just wing it – create a game plan. Writing out business goals and action steps not only helps you clarify and organize priorities, it gives potential investors a clear vision of your roadmap to profitability.

Elements of an Effective Business Plan

The plan usually projects 3-5 years into the future and includes 8 basic parts.

1. Executive Summary
   Briefly explain your business and plans for the future
2. Business Description
   Describe your business and your product or service, and explain how they are different from other businesses.
3. Market Analysis
   Identify your potential customers, and describe your industry and competition.
4. Organization & Management
   Show how you plan to structure your business and introduce your management team and their responsibilities. 
5. Service or Product Line
   Describe your product or service, including the features and benefits of your product or service.
6. Marketing & Sales
   Explain how you plan to market and sell your product or service to the potential customers you’ve identified. 
7. Finances
   Show your current and projected financial status, including balance sheets, a cash flow statement, and revenue projections.
8. Appendix or Supporting Documents
   Include additional documents that support your plan.