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Components of Business PlanA business plan has various components that make it successful and effective for any business. The business plan components are:• Executive summary – This is the summary of the expectations that you have for your business in future. The executive summary must be positioned on top of the business plan.• Company description – This next section of business plan must comprise of the key information of business, goals and target customer audience.• Market analysis – This depicts your understanding of the market of business that you are going to enter.• Competitive analysis – This is the comparison of your business with its direct or indirect competitors.• Description of management and organization – This showcases the overall structure of your organization.• Breakdown of your products and services – This is an optional but an important section to add that describes the products and services of your company.• Sales strategy – This is the strategy of selling your product.• Request for funding – This mentions the money that is needed for the company and its distribution of use.• Financial projection – This final section reveals the projected financial goals and expectations. 

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