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Of course, you will need a plan of strategies in order to accomplish each objective, but those details will be expounded upon in your annual work plan. A list of three short-term and three long-term goals, along with the objectives necessary to achieve them, is sufficient for most business plans. Remember to replace the goals and objectives with new ones as you check them off your list.

The process of business planning does not end when the written plan is complete. Business planning is a cycle, which includes the following steps: Put your plan of action in writing ; Make decisions and take action based upon the plan ; Gauge the results of those actions against your expectations ; Explore the differences, whether positive or negative, and write it all down ; Modify your business plan based upon what you learned.

Goal: To increase revenues by 50% by the end of the year.

Essentially, the three main elements of a business plan are strategies, actions, and financial projections. In order to cover all of the principle elements, you will engage in other types of planning:

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