An Effective Business Plan

As mentioned in past postings, writing a business plan results essential when starting or reshaping your venture. It should be clear and simple enough, so anyone from your investors, employees and yourself would easily follow. In my experience there are five essential elements you must include:

1. Define your product or service on simple words.
2. Identify your customers - explain why they will buy or acquire it.
3. Explain how you will make money - define your business model.
4. Explain how you will reach your customers - describe your marketing strategy.
5. Insert the best and worst expected financial scenarios you can calculate - get help on this one if you can.