The Business Idea

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Section 1: The Business Idea

The first three sections of the Business Plan are all about clarifying and presenting your business idea.

They work together to achieve four things:

1. To present your business idea in an accessible way
2. To communicate your enthusiasm and commitment to the idea
3. To prove your knowledge and credibility
4. To bolster your own confidence

Here are those sections in a little more detail:

Business Vision

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.

Industry Background

The final section presents your knowledge about, and your experience in (if applicable), the industry within which your business venture will be operating.