Section 1: The Business Idea
The first three sections of the Business Plan are all about clarifying and presenting your business idea.
- To present your business idea in an accessible way
- To communicate your enthusiasm and commitment to the idea
- To prove your knowledge and credibility
- To bolster your own confidence
They work together to achieve four things:
Here are those sections in a little more detail:
This section is a description of your vision for your business. This is where you explain in broad strokes what your business will be providing, who your customers are, your plans for today, and areas of expansion for tomorrow.
Products and Services
This section is all about describing what products and/or services you will be offering as part of your new business or business expansion.
The final section presents your knowledge about, and your experience in (if applicable), the industry within which your business venture will be operating.