<human>:  How do I create an effective business plan?
<bot>: An effective business plan should include essential elements such as an executive summary, a description of your business, a market analysis, an organization and management plan, a description of your product and/or service, a marketing plan, financial projections, and a funding request. Additionally, make sure to create a benchmark for your business plan, set achievable objectives, and use a professional format with clear and concise writing. Lastly, do extensive research of the industry, the customer base, and the major competitors in order to create a realistic and honest plan.