Once you have planned to start your business, you will know that it is very important to frame a business plan. After realizing this, you need to get started with the plan. The plan has to cover the major areas of your business in a brief way. Let’s take a look at the five sections of a business plan below.
Executive summary: This section will be the first one in your business plan, but it has to be written at the end as it summarizes the contents of the plan. It should be comprehensive as well as well written. It might sound a bit difficult, but it is not. Make sure you go through the entire business plan before you write the executive summary highlighting the important points.
Company overview: This section of the plan will detail the guiding force of your business. It will replicate what is in your mind about the business and how you intend to reach that place. The overview will have a mission statement, objectives and goals of the business.
Business environment: This will require some research as it involves the information about the industry, market, and competition. Stay cautious and attentive while writing this section as it needs a proper analysis of the structure, trends and barriers involved in the business.
Company description: Here, you will have to get into the details of your business. You can write what will sell or serve, the resources that will be used, the types of employees your business needs, the type of distribution method that is needed and more. These factors form your company. The company’s USP is also important.
Action plan: This section outlines the steps that you will have to take to make your business plan function the way it is intended to. It should reflect the objectives and goals that have been mentioned in the company overview.