1. Executive Summary

This should be about one page long. Describe the business in general terms.

2. Overview

Your mission. What do you want to achieve, where are you going and why do you think it will work.

3. Introduction

• Purpose - explain in detail where you want to go with this

• History - a summary of important development highlights

• Critical Success Factors - what's going to make it work?

4. Business Environment

• Market - this is where your market research results go.

• Problems and possible solutions

• Competition

• Expansion Potential

5. Description of Product or Service

• Unique Selling Points (Generally referred to as your USP)

• Benefits to the customer

• Current Problems and possible solutions

• Potential Problems and possible solutions

• Patents, Licenses, Copyrights etc.

• Production Strategy

Other important documents

Apart from your business plan, you should also have the following documents ready - especially if you need to attract financing.

You can either incorporate them as headings into your business plan or treat them as separate.

The sub-headings under each are suggestions. You should add/delete sub-headings to fit your situation.

Marketing Plan

• Sales Goals

• Public Relations

• Economic Environment

• Industry Environment

• Customer Profile

• Demographics

• Trends

• Competition

• Marketing Channels

• Sales Tactics

• Pricing

• Packaging

• Sponsoring

• Marketing Calendar

Operation Plan

• Management Team

• Support structures / advisory team

• Human Resources

• Policies

• Guarantees

• Facilities and Equipment

• SOPs (Standard Operating Procedures)

• Growth/Expansion Plans

Financial Plan

• Revenue Projections

• Break-Even Analysis

• Credit

• Cash Flow Projection

• Balance Sheet Projection

• Insurance

• Taxes

• Financing Requirements

Financing Proposal

• Amount Needed

• Detailed Budget

• Repayment Options

Appendices

• Schedule of Major Events

• Key-Person Resumes

• Financial History

• History of Sales

• Major Customers

• Customer Contracts

• Principal Suppliers

• Supplier Contracts

• Insurance Policies

• Bank Documents

• Advertising Samples

Using your business plan

Treating the above documents as separate is usually best, because it makes updating them less time-consuming.

Yes, it needs updating. Your business plan is a tool.

You could create one specifically for attracting investment and another for the in-house running. In each you emphasize those aspects that are important to the people who will be using it.