While every business owner should have an ongoing planning process to help them run their business, not every business owner needs a complete, formal business plan suitable for submitting to a potential investor, or bank, or venture capital contest. So don’t include outline points just because they are on a big list somewhere, or on this list, unless you’re developing a standard business plan that you’ll be showing to someone who expects to see a standard business plan.
Size your business plan to fit your business. Remember that your business plan should be only as big as what you need to run your business.
Don’t make common mistakes. I’ve seen thousands of business plans, good and bad, and I can tell you that avoiding these common business planning errors will put you far ahead of the curve.
There are no rules about what your plan should cover or the level of detail. In general, plans need to include information regarding:
~ business profile
~ vision, mission and
~ market research
~ operational strategy
~ products and/or services
~ marketing plan
~ financial strategy.