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Business Law: Elements of a Good Business Plan

Writer's picture: Elman WoodsonElman Woodson

Many of my clients ask what should I put into my business plan? Well, I give the obvious attorney response and say, it all depends! LOL, but in all honesty the truth is it really depends on what business you plan to bring to the world. Do you plan to provide a service or a product? Will you require a physical location? How many employees will you employ? Have you considered a particular business type? These, and other questions must be factored in but let me give you a few idea’s just to get you started.

Although this may appear cliché, a good business plan should at least have the following elements...

1. Executive Summary

2. Business Description

3. Market Analysis

4. Organization and Management Structure

5. Sales Strategies

6. Funding

7. Financial Projections


In successive newsletters I will provide a more thorough explanation why each of these elements are necessary for your business plan.


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