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A business plan is a document that summarizes the operational and financial objectives of a business and contains the detailed plans and budgets showing how the objectives are to be realized. It is the road map to the success of your business. For anyone starting a business, it's a vital first step.
A business plan can be structured a few different ways, but it typically consists of the following elements: 1  summary of your business concept. 2  background information on the business. 3  description of products you plan to offer.  marketing 1  plan. financial plan that includes cash flow, income, and expenses.