Week 3: Making a good business plan

 Writing a business plan is essential for entrepreneurs. Some rules to follow are to keep it short, know your audience, and don't be intimidated by the task of creating a business. There are 9 parts to a good business plan:

• The executive summary - This is an overview of your business and should clearly state your plans and what you want.
• A description of the business - a description of the industry you are entering and current and future outlooks on that market. If the company already exists, you should also include your companies' history.
• Products and Services - This should explain the product or service you provide and how it solves a problem or need in your market.
• Target market - Outline who you are selling to. Should include a very detailed analysis of audience and strategies to sell to them.
• Marketing plan - Explain how you will reach your audience. Show strategies that you can use to get sales.
• Analysis of competitors - Examine weaknesses as well as strengths of other companies in your field. Develop a plan that will give you an advantage over your competition.
• Management plan - Explain how your business will operate on a daily basis. Include who you need to hire.
• Financial plan - Show your financial records and how you plan to make profit.
• An appendix - This section is for additional information not covered in another section

 By including these steps within your own business plan, you can more easily achieve your goals and create a successful business.

Works cited

"How to Write a Business Plan - Bplans Blog." Bplans Blog How to Write a Business Plan Comments. N.p., n.d. Web. 10 Sept. 2014.
"How To Write A Business Plan." Entrepreneur. N.p., n.d. Web. 10 Sept. 2014.