What are the essential things to remeber while making a good Business Plan?

A Business Plan is a bankable document and covers all aspects of the proposed business idea. In essence it is the "First Base Document" of your idea, written down in words, clearly explaining the business and it's prospects. Business Plans can be developed by professionals that provide these services. However you can write your own business plan keeping the following in mind:

• Let go of short sightedness. Take the long view and do long-term planning. Map out where you want to be five years from now and how you plan to get there.
• Write the plan yourself, it will help you understand and learn your business better.
• Your business plan is a living document. Review it regularly to make sure you are on track or to adjust it to market changes.
• Share the plan with others who can help you get where you want to go—such as lenders, key employees and advisors.
• Always remeber that though in the short run you may pay higher prices, but in the long-run it will sustain and grow your business.