You wouldn’t take a road trip without bringing along a map. So it goes without saying the first order of business for anyone thinking about starting a small business is coming up with a business plan.

All businesses are different and therefore no two business plans will be identical. But there are certain aspects of all plans that should be included no matter what. Regardless of the field you’re entering, you’ll need a detailed description of the business, a marketing plan, a management plan and thorough financial projections to name a few.

Here are some essential components to include on your way to small business success:

INTRODUCTION
You’ll need a cover sheet, an executive summary that clearly states the purpose of the business and a table of contents making your plan easy to read and navigate.

THE BUSINESS
Describe your business in a clear and straightforward manner. Map out your operating procedures, personnel, who your competitors are and how you plan on marketing your business to bring in customers.

FINANCIAL DATA
This is the section where you’ll need to include all loan applications, a balance sheet, a list of capital equipment and supplies and a breakeven analysis. You’ll also have to include profit and loss statements, a detailed monthly budget for the first year of operation, quarterly financial projects up through the second and third year, the assumptions upon which your projections are based and a pro-form cash flow.

SUPPORTING DOCUMENTS
Supply your tax returns for the previous three years. If you have business partners you’ll need their returns and personal financial statements as well. Franchise businesses require copies of all franchise contracts and supporting documents. Include a copy of the proposed lease or purchase agreement for building space, copies of all licenses, resumes of all business partners and letters of intent from suppliers.