Posted on February 19, 2009 by SHASHANK SHEKHAR

A business plan is a detail workout of steps and strategy involved in a business. It involves summary of business objectives of the company or business and decisions involved at each and every step. Business plan involves short term and long term objectives along with complete details of management team structure and its stake holders. Whenever a business plan is made we need to include a suitable exit strategy as well in case of unavoidable economic condition.

A business plan consists of the following:-

Vision Statement: Vision statement consists of a precise outline of goals and objectives. It sets a theme for the planned business.

Business Profile: Business profile includes a complete description of business and its strategy and how to implement the plan.

Viability Analysis: Although the profitability and success of a business depends upon the prevailing market conditions still the projected costing and profitability should be planned well in advance while making business plan.

Cash Flow Assessment and Analysis: Source of the credit and other financing options to be planned. Cost and benefit analysis of a business is a must with lines of credit and its interest.

Marketing Expansion and Exit Strategy: Can’t be ignored to get the business flourishing and funds can be removed with least possible losses.