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The 3 most important purposes of a business plan are 1) to create an effective strategy for growth, 2) to determine your future financial needs, and 3) to attract investors (including angel investors and VC funding) and lenders.

Key lessons on the 4 key components of a business plan The executive summary, marketing plan, key management bios, and financial plan business plan sections are critical and should be included in all business plans.

The most important parts of a business plan include: Executive summary. ... Business description. ... Market analysis and strategy. ... Marketing and sales plan. ... Management and organization description. ... Products and services description. ... Competitive analysis. ... Operating plan.

The executive summary, marketing plan, key management bios, and financial plan business plan sections are critical and should be included in all business plans. Additional sections can be added to these four when targeting specific purposes and audiences.

You should at least cover these key areas: Revenue. Cost of goods or services. Total profit or loss (revenue minus cost of goods/services) Operating costs (e.g. rent) General expenses (e.g. marketing, advertising, depreciation) Operating income (total profit minus expenses)

But most plans will include the following main sections: Executive summary. This is your five-minute elevator pitch. ... Business description and structure. This is where you explain why you're in business and what you're selling. ... Market research and strategies. ... Management and personnel. ... Financial documents.

Ing to Investopida.com and Nerd Wallet, most business plan templates include seven elements: an executive summary, company description, products and services, market analysis, marketing strategy, financials, and budget.