Business plan outline - Running Head BUSINESS PLAN 1...

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Running Head: BUSINESS PLAN 1 Business plan Name Tutor Institution Date
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BUSINESS PLAN 2 Introduction For every business whether small or big it is important for it to have a well stipulated business plan. Therefore, this essay will bring to light the key components of a business plan that as a business owner needs to take into consideration for the success of the business. The first essential element of a business plan is the executive summary. The executive summary does summarize the whole plan that includes, the problem, solution, the targeted market, the establishing team, as well as the financial forecast (Longenecker et al., 2013). The second component is product and service description. At this stage, an individual describes the problem being solved and the solution as a business owner you intend to sell (Maitland, 2012). The third element is the market analysis summary, whereby the business owner is bound to know and understand his or her target market. It has the meaning of knowing the customer types on the target and how their behaviours change (Longenecker et al., 2013). The fourth
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