[tweetmeme source=”LessonsInBiz” only_single=false] The third factor which should be included in you business plan should be production. This part should have an overview of how many products you will be turning out or the quantity to be produced. You also need to put in here the details of machineries you will be using to get you the quantity you want to produce, the quality levels of your products and services and what your targeted quantity is. This is very helpful for you to be able to gauge the productivity of your business. Simply put, this would be your checklist on whether your business will make money or not.

The next is financial plan. This sector should have the details of where you will be getting your funding. You can include details of your loan if you got one or where exactly did you get your own finances if you are bootstrapping. Included in this part should be your budget or how much your overhead costs are, your start up and working capital. You should also put in detail your profit, as well as the target break even, forecasts. It would also be prudent for you to put in the projected amount of how much money you can stand to lose without having the business go under.

You need to include in your business plan the specifics of the human resource aspect of your business like how many employees you need to get the business running. Also important is a complete list of the skills, competencies, responsibilities and duties in each area of business. This would provide your prospective employees a rough draft of what you and your company expects of them. This would also be helpful for you to be able to get the right candidate for the job.

The last part that you need to include is constraints such as legal, financial, social, environmental, technological and competitive. These constraints are those factors which may impede you from running your business smoothly. It is true what they say that a failure to plan is a plan for failure so you need to be aware of what resources are available to you. You need to have the foresight to be able to ensure the growth of your company.