Developing a business plan is crucial to business success. A well-written business plan can not only help secure the funding for your business, but can also market your products or services or line up strategic partners. While there are different ways of writing a business plan, some essential components should be included in a successful business plan.
Essential Components of a Business Plan
The three main sections to any business plan are:
I. Description of Business
This section should contain the "who, what, when, where, why and how" of your business. Some relevant points include where your business is located, what your products and services are, who works on your staff, what is the management structure, what your personnel and employment policies are, and other general information about your business.
II. Financial
This is where your balance sheets, cash flow projections, income statements and break-even analysis are located. You will articulate all of your expenses and revenues by month and by year for a five-year time period.
III. Marketing
This section should include demographic information about your customers, how you plan to reach them, the timing of your market entry, your marketing budget and your advertising plan.
Additionally, business plans generally include a cover sheet and an executive summary that provides an overview of your entire plan. For more elaborate information on how to write a business plan and examples of business plans in various industries, please visit www.bplans.com.
If you hire a professional to write your business plan, make sure you are involved in the process and know your own plan well in order to be able to articulate your vision, goals, and needs when you put your plan to use for securing funding and partnership. 
