The Ultimate Step-by-Step Business Plan Template
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Think of your startup business plan as a roadmap for your company. It's a living document that details everything about your small business or LLC. While there are many ways to put one together, here are the key sections most small business plans include:
Executive Summary
The executive summary is an overview of your business idea, mission, and goals. Even though it appears first, you may want to write this section last. Completing the rest of the plan gives you the information you need.
Company Description
As the name implies, this section describes your company's history, mission, values, and milestones. What is your competitive advantage? Go into detail about the problem your startup solves. Being specific is the key. If there are experts on your team, list them here and the difference they’ll make.
Market Analysis
In order to differentiate your business, you need to know what’s already out there. Research your industry, target market, and competitors, and place that data here. You want to look for market trends, gaps, and opportunities for your business. Look at market size and share. How much do you think your business can win?
Organization & Management
Explain your business structure (e.g., LLC, sole proprietorship, partnership, corporation). If you have a team, list your organizational chart. Include each person’s expertise and how they contribute to your business’s success.
Products & Services
In your startup business plan, describe the products or services your business offers. Highlighting their unique features, benefits, and competitive advantages, this section explains how your business solves a problem. Detail copyright or patent filings.
Marketing and Sales Strategy
This section features your strategies for marketing and promoting your products/services. First, define your target customers and their buying behaviors. Next, describe your sales process and channels. How will you attract and retain customers? Include your brand strategy in this section. It leads your marketing efforts.
Funding Requests
If you’re requesting funding, this section outlines your needs: how much you need and how it will be allocated. Make sure to lay out all details pertaining to your request. Detailing out how your company will allocate funds is crucial. Investors will want to know exactly how you plan to spend their dollars.
Financial Plan & Projections
Give financial projections including income statements, cash-flow statements, and balance sheets. Detail your startup costs and revenue sources. Conduct a break-even analysis and outline your growth plans. If you have graphics, this is the place for them. When investors are looking at companies to buy into, they’ll want to see at least 2 to 3 years into the future.
Appendices
All supporting documents are here in the appendices. These can be legal documents, credit histories, product pictures, and more. Your appendices serve as references for materials that support the main sections of your startup business plan.
You focus on running your business.
Struggling to Write a Business Plan? Start Here.
Writing a business plan can feel complicated and daunting. Think of it this way. When you have a plan, you have a roadmap for success. Even for the new business owner who has to make assumptions, a business plan gives you a starting point. It helps you think through problems before they occur. It’s not a one-and-done activity but rather a continuous process. When you have details written down, you see them more clearly.
Getting started is the hardest part, and there isn’t necessarily a wrong way to start. Consider your first attempt just that — a first draft. It’ll be messy and incomplete. When you go to revise it, you’re starting with something rather than a blank page.
We’re here to help you. Check out our Ultimate Step-by-Step Business Plan Template. Or, if you have any questions about your startup business plan or forming an LLC, contact us to talk with one of our Business Success Advisors.
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