The Beauty of a Business Plan

The beginning is always the hardest part. However, forming a solid business plan is one of the most important steps to starting a small business, so you need to craft one carefully. Think of it as a road map for your business' success.

A small-business plan contains an executive summary, a basic company outline (describing your product or service, customers, competition and overall industry), an overview of marketing strategies and comprehensive financial analysis.

When writing the executive summary, you should keep in mind what you want from the person who will read it, whether it's a bank representative or a potential investor. Most people neglect to place this vital part right at the beginning, which is where it belongs. Keep the executive summary concise, but ensure it details why your business will be successful.

The description of your company should include its history as well as objectives and goals. ...