A business plan is a document that summarizes an entrepreneur's thoughts and experiences-on his current investors, clients, suppliers and employees-into a formal scheme.
By Moh Fei Yuen
Why write a business plan?
A business plan serves as a tool to facilitate communication between an entrepreneur and his potential investors. It is a platform for the entrepreneur to manifest his ideas for business expansion to potential investors, and also serves as a visual guide to help the entrepreneur better understand where he is, where he wants to be and how he plans to get there.
Business plan format
There is no fixed format; there are only recommended ones. Business plans require different formats to communicate different objectives to different readers. You will need to use a format that most effectively communicates:
(a) the company’s current status amid a bigger industry and market
(b) the product, and its marketing and sales strategies and finally
(c) a realistically projected revenue. Below is a recommended format: