A well-developed business plan is an important key to the success of a new business.  It is a guideline that can serve to assist in determining the feasibility and desirability of starting a new business.  It will also provide a path to follow during the critical early stages of development.  A plan makes it easier for others (bankers, suppliers and advisors) to understand the direction of the business.  In preparing your business plan you should: 

1. Define your business, describing the services or products you plan to offer or manufacture. 
2. Describe the location of the business. 
3. Describe the existing market, i.e., its size and characteristics, and the potential for sales and profit.  Identify and assess your completion. 
4. Identify the capital and other assets required for the operation of the business, the equity to be invested, and the source of additional funds that you may require. 
5. List the personnel required and their duties. 
6. Prepare an estimate of the projected cash flow for the first year of operation.  Do the same for the second year.  Calculate the sales break-even point.