A full business plan involves numerous sections that convey the strategy of the business. A business plan should include comprehensive market research and detailed marketing, operational, financial, and growth strategy. A significant amount of the planning is the financial plan, which should typically be on a 5 year basis and planned on a monthly or quarterly basis. The following are a few basic questions that you should answer upon developing a full business plan:
- Who does the Company need to target in order to maximize opportunities for revenue?
- What are the short- and long-term objectives of the Company?
- What operating costs are critical to the start-up of your particular venture?
- How is your business going to market to its target audience?