|Business Plan FAQ|
Q. What are the sections in the business plan and which are most important?
A. Listed are the following sections in a standard business plan:
Many business owners are lead to believe that the financials play a key role in securing capital from investors and banks. Financials are important and can provide a clear expectation of profits, expenses and key ratios. However, financials are just numbers and anyone can plug in the numbers. Realistic expectations are required for proper forecasting. For all businesses, the cash flow is vital to the plan. Profitable companies can run out of cash and be unable to meet their loan obligations.
Ultimately, what makes a business successful and viable are the market and the people. If customers actually have bought or used your product and service that is a very strong indicator of future purchases. And if you have the education and experience with a strong management team, the business success ratio quickly goes up. A team that can plan and especially execute their ideas is worth their weight in gold.