Business Plan Courses

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A complete business plan must include a set of financial projections for the business.

These forward-looking projected financial statements are often called pro-forma financial statements or simply the "pro-formas." They include the overall budget, current and projected financing, a market analysis, and its marketing strategy approach.

If there are crucial elements of the business plan that take up a lot of space—such as applications for patents—they should be referenced in the main plan and included as appendices.

If there are any especially interesting aspects of the business, they should be highlighted and used to attract financing.

Financial statements, balance sheets, and other financial information may be included for already-established businesses.

New businesses may include targets for the first few years of the business and any potential investors.Although they're especially useful for new companies, every company should have a business plan.Ideally, a company would revisit the plan periodically to see if goals have been met or have changed and evolved.Products and services: Here, the company can outline the products and services it will offer, and may also include pricing, product lifespan, and benefits to the consumer.Other factors that may go into this section include production and manufacturing processes, any patents the company may have, as well as proprietary technology.A good business plan should outline all the costs and the downfalls of each decision a company makes.Business plans, even among competitors in the same industry, are rarely identical.Business plans help companies identify their objectives and remain on track.They can help companies start and manage themselves, and to help grow after they're up and running.For example, Tesla Motors.'s electric car business essentially began only as a business plan.A business plan is not meant to be a static document.

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