Answer
The secret to good writing of a business plan is to ensure that it contains;
• A Executive summary which is a snapshot of the business
• A company description that describes what the company does
• A market analysis that includes the industry, market and competition
• Organization and management of the business
• The service or product to be offered
• The marketing and sales strategy
• The funding request
• Financial projections including balance sheets
Explanation
When preparing a business plan, one should start with conducting a research to analyze the product, market and the objectives. The next step is to determine the purpose of the plan. Some business plans may have several different purposes. A good plan should target to attract the investors and has to define the goals as well. The company profile should be attractive with the company’s history, products, target market, resources and ways to make the business unique. All aspects of the business should be documented. In addition to that, the plan should have a strategic marketing technique in place. It is also vital to have a plan that is flexible.
