Elements of an Effective Business Plan

The plan usually projects 3-5 years into the future and includes 8 basic parts.

  1. Executive Summary
    Briefly explain your business and plans for the future

  2. Business Description
    Describe your business and your product or service, and explain how they are different from other businesses.

  3. Market Analysis
    Identify your potential customers, and describe your industry and competition.

  4. Organization & Management
    Show how you plan to structure your business and introduce your management team and their responsibilities. 

  5. Service or Product Line
    Describe your product or service, including the features and benefits of your product or service.

  6. Marketing & Sales
    Explain how you plan to market and sell your product or service to the potential customers you’ve identified. 

  7. Finances
    Show your current and projected financial status, including balance sheets, a cash flow statement, and revenue projections.

  8. Appendix or Supporting Documents
    Include additional documents that support your plan.

Featured Resources

Business Plan Template 

All you need to do is download and fill the business plan template out to get you started! 

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The Black Business Association Portal is the ultimate resource for startingrunning, and growing a business in our state. With comprehensive information and tailored tools, the Portal helps you navigate the process and quickly learn what it takes to be successful.



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