The last section, “Refining Your Plan,” explains ways you may need to modify your plan for specific purposes, such as getting a bank loan, or for specific industries, such as retail. You can visit our small business encyclopedia to learn more about business plans or our FormNet area to get the necessary forms to get started. Take control of what content you see. From inspiration on starting a business to learning more about how to find solutions - make our site yours and never miss a beat. Add your favorite articles, videos, podcasts, and more to your Queue so you can enjoy them anytime on any device. The Management Team section of the business plan must prove why the key company personnel are “eminently qualified” to execute on the business model. Word of mouth marketing is by far the most profitable and powerful marketing channel available to any business. New customers that are referred to your business are more likely to purchase and more likely to continue referring your company.