Back in the day, it was all about the long Business Proposal. Nowadays long business proposals are only useful for very large businesses where the length is due to technical things that dictate it's length. Every business needs a plan, so simple proposals will always be very useful for yourself to organize your startup.
A business plan is composed of nine primary sections. Each section can be as little as a paragraph, or up to several pages depending on complexity. It's good that you write at least one paragraph about each of these topics before you even think about potentially bankrupting yourself of some stupid startup.
Mission statement and/or vision statement so you articulate what you’re trying to create;
Product Differentiation and Value Proposition
Description of your management team, including the experience of key team members and previous successes;
That discusses the market you’re trying to enter, competitors, where you fit, and what type of market share you believe you can secure;
This is outlines how you think that you are going to be able to sell your product.
“Analysis of your company’s strengths, weaknesses, opportunities, and threat, which will show that you’re realistic and have considered opportunities and challenges;” Quote Forbes
Develop a cash flow statement so you understand what your needs are now and will be in the future (a cash flow statement also can help you consider how cash flow could impact growth);
Conclusion that wraps everything together (this also could be an executive summary at the beginning of the plan).
[1]. http://www.forbes.com/sites/patrickhull/2013/02/21/10-essential-business-plan-components
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