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A business plan contains several main elements. First, it lays out the mission and the goal of the business. The plan will spell out whether your company is in business to serve a greater good or simply to fulfill an unmet need. Determine whether your business will serve other businesses or supply products to consumers. These are all important elements that should be included.

While I still recommend the business planning process, I caution you to realize that a beautifully crafted document does not always equal business success. I've worked with many entrepreneurs who successfully launched without a plan, and some with beautifully written plans that never materialized. You and your business idea are unique. Your planning process will be unique as well. Be wary of one_size_fits_all advice or pronouncements from experts about how you should proceed.

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