Creating a business plan is one surefire way toincrease your chancesof being a successful small business. It’s best to craft a business plan before starting out, but it’s never too late to complete this valuable task. A business plan will also come in handy when making presentations to potential investors.

As a written report of a company's future, a business plan communicates:

• Business goals
• Strategies to meet these goals
• Potential set-backs and ways to resolve them
• Managerial structure
• Cash/capital requirements and break-even points

The 3 principal ingredients of a business plan:

• Business concept (industry overview, business structure, product or service description, and the plan for success)
• Market conditions (potential customers and competition)
• Financials (cash flow statement, balance sheet, etc)

A typical business plantable of contentsincludes:

1. Executive summary (write this last as a summary of your plan, but put it first)
2. Company description
3. Market analysis and strategy
4. Competitive study
5. Development plan (product design, scheduling, costs, and personnel)
6. Management and operating plan
7. Financial plan and information

60 Free Sample Business Plans from Entrepreneur Magazine
http://www.entrepreneur.com/businessplan/a-z


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