This document not only helps owners see where the business is headed, it is also required by most lenders and potential investors. Focus on the following nine elements when drafting a business plan for your small business.There are several essential elements of a good business plan according to the U. Although this is the first section readers will see, it should be the last section of your business plan written.Include a description of how your product or service will meet a need and any potential clients identified as having that need.
Include market penetration strategy, growth strategy, distribution strategy and communication strategy.
Sales strategies should also be included to provide information on sales staff and activities.
Once you’ve done the strategic work, it’s time to put it into action and write your plan.
Download the business plan template, and review our guide on writing a business plan for additional information.
That’s why we put together a free business plan template to help you get started.
Get the template It’s tempting to dive right into execution when you’re excited about a new business or side project, but taking the time to write a business plan and get your thoughts on paper allows you to do a number of beneficial things: A business plan can be as informal or formal as your situation calls for, but even if you’re a fan of the back-of-the-napkin approach to planning, there are some key benefits to starting your plan from an existing outline or template.
Get your free business plan template This free business plan template includes the following sections: In our business plan template, each section includes an overview of the most important information to cover and guidelines on how to approach writing and researching each one.
There are some high-level strategic guidelines beyond the advice included in this free business plan template that can help you write an effective, complete plan while minimizing busywork.
The sample is set up to help you get a sense of each section and understand how they apply to the planning and evaluation stages of a business plan.
If you’re looking for funding, especially through venture capital, this example won’t be a complete or formal look at a business plan, but it will give you a great place to start and ideas about which sections to expand.