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The first point to keep in mind about business plans is... have a business plan! This may seem obvious but is overlooked. Many people start businesses without a plan; sometimes it can come from sheer bravado, thinking "I don't need a plan", or alternatively you might hear "It's all inside my head, that's my business plan".

Drawing functional Plan: After positive result form the feasibility study, functional plans are drawn up. Some scholars and writers prefer to include feasibility study with functional plan but the two have been taken separately. Whereas only after the feasibility study can one go into the derails of drawing up functional plans which would determine the strategies for all the operational areas : marketing, Finance and production.

Describe the manufacturing or operating process and associated costs. Contain believable finical projections, with key data explained and documented.

A valuable source of information about your business that may be required by third parties ; Improved use of your company personal resulting from participation in the business planning process ; Increased employee motivation ; Increased profits and sustained growth.

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