In this lesson we have discussed how to develop a business plan and we have learnt how Mwalimu Njuguna could have improved his own business by having a business plan and using a better marketing strategy. Business plans are crucial because they provide you with a detailed map of how to move forward. It is critical in helping you make future strategic decisions.

In this lesson we have seen that a business plan has the following content. Namely:

• Products and/or services to customers.
• Organization structure.
• Goals.
• Identification of existing competition.
• Sales estimates.
• Estimate costs, revenue and profits.
• Identification of customer needs.
• What makes the business different from other businesses?