Completing a book typically requires a lot of rewrites, so what is the value of the first draft? The first draft can be the most important draft, depending on the final product. The National Novel Writing Month, after all, was started to get people to write at least 50,000 words.

Since 2006, more than 470 books have been written during this month that were later published with traditional publishers, and more than 100 books were self-published. Some books written in this period have reached the New York Times Best Seller List.

How the First Draft Benefits the Completed Product

The Writer Writes It Down

This is the first step of every effort. In the writing of the draft, the creative process unleashes the characters that will live in the story and may even develop a life of their own that was unplanned at the start.

The Draft Enlightens the Writer about What Works

It is where the writer tells the story but after completion may find it is imbalanced in some way. Imbalance can reveal, for instance, that some of the characters do not belong in the story, or that the story is missing a character, or a character needs to become more dominant.

In the writing, the writer may decide to change the intended story line or the point of view, and add more or less background information. To keep the writing going and creative juices flowing, it is better to make notes about changes and keep moving forward to tell more of the story.

In the First Draft, the Writer Decides the Book’s Genre

The writer may decide the story is one genre, but in writing this draft may decide to change it. It is an explorative venture that enriches the process of refining the final product.

After the First Draft

In completing the first draft the writer becomes an author, even if not a published one. An important milestone is passed en route to the final product. A completed first draft means it is not a false start, even though this draft is still an imperfect product.

The potential to be a writer has been realized; the story has been told. Next, the first draft needs to be refined through the editing process and however many rewrites and content discarding that involves.

After completing the draft, the writer should take time off before coming back to edit to make this process more effective. Yes, some writers edit during the first draft, but for other writers editing dampens the creative process.

A business plan is a written description of a company’s present and future. It lays out what the business is, what its chief executive plans to do and how he/she plans to accomplish it. The strategic document presents a roadmap for success. It projects three to five years ahead and outlines the intended path for revenue growth in that period.

The business plan reveals the current position and capacity of the business, and then how it plans to expand its revenue base, capacity, and associated factors between the present and the projected future.

How to Make the Business Stand Out in the Business Plan

What makes the business unique? Presenting this effectively will help you differentiate your business from its competitors and show that you understand the value of the business to the market or markets it is targeting.

Essential Elements of the Business Plan

The Executive Summary

Readers see the executive summary first, and it summarizes the business plan. In one or two pages, you emphasize the positive and play down the negative (when pitching to investors nor creditors). It can include vision and goals.

It should include a brief presentation of the main elements of your business plan:

Description of the Business

The business description provides information about the business, what differentiates it from others, and the market or markets the business serves or intends to serve.

Organizational Management

Every business is structured differently. Discover the optimal organizational structure for the type of business and compare how yours stacks up against that model. Discuss the pros and cons.

Services or Products

What does the business offer? How does it benefit its current and potential customers? What is the product lifecycle of the products, if any? These are some of the important elements to include in this section.

Market Analysis

Here research about the business industry, markets, and competitors is presented. Thorough research is needed to show you understand the market and the value of the company’s services or products.

Marketing and Sales

How does the business plan to market itself? What is the sales strategy? How many sales people does it have and what are their specialties and experience? These are some of the elements you need to include in this section.

Funding Needs

If the business is seeking funding, include the necessary information investors want.

Financial Projections

If funding is needed, providing financial projections to back up the funding request is essential. Find out what information you need to include in the financial projections for the business.

Appendix

An appendix is not an essential part of a business plan, but it is a useful section for including specific backup documents, such as resumes.

The business plan functions as a roadmap for the business and as a pitch for funding from investors. The amount of information you include in each section will depend on its intended readers.