In the business description part of your business plan, you need to indicate the structure of your business organization, whether it’s a

Product/Service Description

Depending on the length of your plan, you will need to describe the product/services you intend to sell. Indicate any patent, technology and unique features about your product. Also, potential lenders want to know “why would customers want to buy your product”.

After product/service description, you should also clearly define:

Success Factors

Your business plan must be convincing and it has to illustrate to potential investors/partners what essentially will make your business successful. Some examples of success factors include:

Article by Byon Ong, Singapore Business Resources for Entrepreneurs

January 2006

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