Ask yourself what you would want to know were you to invest in another business. Special people you deal with might want to know the same details about you.

Definition of the Plan
A typical business plan will include:

·  Company and owner background
·  Financial details
·  Market
·  Business environment
·  Business objectives
·  Clients, personnel, competition, and suppliers 

In brief, a business plan is a detailed blueprint of an organization, presented in a format that is easy to read and understand. By forcing you to focus your thoughts, your business plan will help you identify problems and formulate plans that will smooth your road to success. In return for a relatively small amount of time invested, you will save incalculable sums of time and money in the future. 

The plan also helps you target specific objectives according to a concrete timetable. Not only does that help you stay on target, but it also has an amazing way of producing results. For instance, if you set an income goal of $5,000 per month, you might be surprised to see how much easier it is to achieve it!

Common Obstacles
So why do relatively few home-based business owners bother to prepare a plan? Many mistakenly believe that business plans are only useful for large companies; certainly not for home-based operations. Not so. Business plans are neither more nor less useful for home entrepreneurs than for Fortune 500 Companies. The only differences, perhaps, are contents and scale. Every business needs to organize and plan!

“More trouble than it’s worth,” is another objection from time-pressed businesspeople. In most cases, however, resistance stems from the dread of tackling a project that seems daunting to the neophyte who fears that he or she cannot rise to the challenge. 

Certainly the finished product will not be given in an instant of inspiration. Rather, it will emerge through a gradual and very personal process. Think of the sculptor who begins with a rough block of stone. He won’t strike a perfect image with a single blow, nor with a thousand thereafter. It will take an incalculable number of rough strikes in the beginning; gradually changing to more gentle, calculated slices; and finally to even more of the most precise and delicate refinements to bring the once rough-hewn block near to life.

But to allow for that time to evolve, you shouldn’t wait until you suddenly need a business plan—as most will do. When the pressure is on and time is short, the finished product will likely be something less than standard and unlikely to impress the reader. If you want a sharp business plan when you need it, you should begin preparation long before that time. The best time to begin is right now!

Contents of the Plan
Your business plan should address each of the following topics:

Cover Page. Show mostly white space, placing your company name, address, author’s name and credentials, and date in the center.

Contents. Dedicate one page to a brief list of contents by general category, including page or section numbers.

Executive Summary. Summarize the purpose and contents of your work in microcosm. Confine this to no more than two pages. Conciseness and clarity are keys here.

Company Overview. Explain when and why you established your business. Also specifically define the nature of your business.

Mission Statement. In a couple sentences, spell out the specific market needs you fill.

Vendors and Partners. Indicate significant organizations you work closely with, and clarify the nature of your relationship. Also reference the key individuals involved.

Products or Services. Nothing is more central to your business than the products or services you offer. So present them in the clearest possible light with detailed descriptions and supporting graphics, if possible.

Target Market. Define both your current market and the markets you intend to approach. Include brief reasons why you think these markets will be fruitful.

Competitors. Indicate current competitors by name and/or type of business. Also identify potential new rivals.

Marketing. Outline your market position in a single, compact sentence. “Easy Home Business Products provides high-demand business equipment at below retail prices and delivers them to the premises within 24 hours...” Also explain current promotional methods and long-term marketing strategy.

Management Bios. Identify any and all significant partners or employees, including their titles, responsibilities, and relevant professional backgrounds.

Goals. Spell out important short- and long-term goals.

Financial Details: These should cover:

   1. Capital base
   2. Assets & liabilities
   3. Income & expenses from previous five years
   4. Financial targets and objectives
   5. Details pertaining to debt, deficits and creditors
   6. Accounts receivable

Ask your accountant to prepare your financial statement, or at least to check the one you prepare. Plenty of software products, such as Microsoft’s Office Excel, can walk you through the process.

The Future. Define your goals and expectations, and explain your reasons.

Immediate Objective. Tell your reader what you want from him or her and why. Be sure to indicate the benefits to the reader, as well.

Appendix. Here you might include such additional supporting materials as financial charts, growth projections, market details, and personal resumes.