business plan detailed steps

How to Write a Business Plan: Step-by-Step Guide + Examples

Noah Parsons

24 min. read

Updated May 7, 2024

Writing a business plan doesn’t have to be complicated. 

In this step-by-step guide, you’ll learn how to write a business plan that’s detailed enough to impress bankers and potential investors, while giving you the tools to start, run, and grow a successful business.

• The basics of business planning

If you’re reading this guide, then you already know why you need a business plan . 

You understand that planning helps you: 

• Raise money
• Grow strategically
• Keep your business on the right track 

As you start to write your plan, it’s useful to zoom out and remember what a business plan is .

At its core, a business plan is an overview of the products and services you sell, and the customers that you sell to. It explains your business strategy: how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

Most business plans also include financial forecasts for the future. These set sales goals, budget for expenses, and predict profits and cash flow. 

A good business plan is much more than just a document that you write once and forget about. It’s also a guide that helps you outline and achieve your goals. 

After completing your plan, you can use it as a management tool to track your progress toward your goals. Updating and adjusting your forecasts and budgets as you go is one of the most important steps you can take to run a healthier, smarter business. 

We’ll dive into how to use your plan later in this article.

There are many different types of plans , but we’ll go over the most common type here, which includes everything you need for an investor-ready plan. However, if you’re just starting out and are looking for something simpler—I recommend starting with a one-page business plan . It’s faster and easier to create. 

It’s also the perfect place to start if you’re just figuring out your idea, or need a simple strategic plan to use inside your business.

Dig deeper : How to write a one-page business plan

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• What to include in your business plan

Executive summary

The executive summary is an overview of your business and your plans. It comes first in your plan and is ideally just one to two pages. Most people write it last because it’s a summary of the complete business plan.

Ideally, the executive summary can act as a stand-alone document that covers the highlights of your detailed plan. 

In fact, it’s common for investors to ask only for the executive summary when evaluating your business. If they like what they see in the executive summary, they’ll often follow up with a request for a complete plan, a pitch presentation , or more in-depth financial forecasts .

Your executive summary should include:

• A summary of the problem you are solving
• A description of your product or service
• An overview of your target market
• A brief description of your team
• A summary of your financials
• Your funding requirements (if you are raising money)

Dig Deeper: How to write an effective executive summary

Products and services description

This is where you describe exactly what you’re selling, and how it solves a problem for your target market. The best way to organize this part of your plan is to start by describing the problem that exists for your customers. After that, you can describe how you plan to solve that problem with your product or service. 

This is usually called a problem and solution statement .

To truly showcase the value of your products and services, you need to craft a compelling narrative around your offerings. How will your product or service transform your customers’ lives or jobs? A strong narrative will draw in your readers.

This is also the part of the business plan to discuss any competitive advantages you may have, like specific intellectual property or patents that protect your product. If you have any initial sales, contracts, or other evidence that your product or service is likely to sell, include that information as well. It will show that your idea has traction , which can help convince readers that your plan has a high chance of success.

Market analysis

Your target market is a description of the type of people that you plan to sell to. You might even have multiple target markets, depending on your business. 

A market analysis is the part of your plan where you bring together all of the information you know about your target market. Basically, it’s a thorough description of who your customers are and why they need what you’re selling. You’ll also include information about the growth of your market and your industry .

Try to be as specific as possible when you describe your market. 

Include information such as age, income level, and location—these are what’s called “demographics.” If you can, also describe your market’s interests and habits as they relate to your business—these are “psychographics.” 

Related: Target market examples

Essentially, you want to include any knowledge you have about your customers that is relevant to how your product or service is right for them. With a solid target market, it will be easier to create a sales and marketing plan that will reach your customers. That’s because you know who they are, what they like to do, and the best ways to reach them.

Next, provide any additional information you have about your market. 

What is the size of your market ? Is the market growing or shrinking? Ideally, you’ll want to demonstrate that your market is growing over time, and also explain how your business is positioned to take advantage of any expected changes in your industry.

Dig Deeper: Learn how to write a market analysis

Competitive analysis

Part of defining your business opportunity is determining what your competitive advantage is. To do this effectively, you need to know as much about your competitors as your target customers. 

Every business has some form of competition. If you don’t think you have competitors, then explore what alternatives there are in the market for your product or service. 

For example: In the early years of cars, their main competition was horses. For social media, the early competition was reading books, watching TV, and talking on the phone.

A good competitive analysis fully lays out the competitive landscape and then explains how your business is different. Maybe your products are better made, or cheaper, or your customer service is superior. Maybe your competitive advantage is your location – a wide variety of factors can ultimately give you an advantage.

Dig Deeper: How to write a competitive analysis for your business plan

Marketing and sales plan

The marketing and sales plan covers how you will position your product or service in the market, the marketing channels and messaging you will use, and your sales tactics. 

The best place to start with a marketing plan is with a positioning statement . 

This explains how your business fits into the overall market, and how you will explain the advantages of your product or service to customers. You’ll use the information from your competitive analysis to help you with your positioning. 

For example: You might position your company as the premium, most expensive but the highest quality option in the market. Or your positioning might focus on being locally owned and that shoppers support the local economy by buying your products.

Once you understand your positioning, you’ll bring this together with the information about your target market to create your marketing strategy . 

This is how you plan to communicate your message to potential customers. Depending on who your customers are and how they purchase products like yours, you might use many different strategies, from social media advertising to creating a podcast. Your marketing plan is all about how your customers discover who you are and why they should consider your products and services. 

While your marketing plan is about reaching your customers—your sales plan will describe the actual sales process once a customer has decided that they’re interested in what you have to offer. 

If your business requires salespeople and a long sales process, describe that in this section. If your customers can “self-serve” and just make purchases quickly on your website, describe that process. 

A good sales plan picks up where your marketing plan leaves off. The marketing plan brings customers in the door and the sales plan is how you close the deal.

Together, these specific plans paint a picture of how you will connect with your target audience, and how you will turn them into paying customers.

Dig deeper: What to include in your sales and marketing plan

Business operations

The operations section describes the necessary requirements for your business to run smoothly. It’s where you talk about how your business works and what day-to-day operations look like. 

Depending on how your business is structured, your operations plan may include elements of the business like:

• Supply chain management
• Manufacturing processes
• Equipment and technology
• Distribution

Some businesses distribute their products and reach their customers through large retailers like Amazon.com, Walmart, Target, and grocery store chains. 

These businesses should review how this part of their business works. The plan should discuss the logistics and costs of getting products onto store shelves and any potential hurdles the business may have to overcome.

If your business is much simpler than this, that’s OK. This section of your business plan can be either extremely short or more detailed, depending on the type of business you are building.

For businesses selling services, such as physical therapy or online software, you can use this section to describe the technology you’ll leverage, what goes into your service, and who you will partner with to deliver your services.

Dig Deeper: Learn how to write the operations chapter of your plan

Key milestones and metrics

Although it’s not required to complete your business plan, mapping out key business milestones and the metrics can be incredibly useful for measuring your success.

Good milestones clearly lay out the parameters of the task and set expectations for their execution. You’ll want to include:

• A description of each task
• The proposed due date
• Who is responsible for each task

If you have a budget, you can include projected costs to hit each milestone. You don’t need extensive project planning in this section—just list key milestones you want to hit and when you plan to hit them. This is your overall business roadmap. 

Possible milestones might be:

• Website launch date
• Store or office opening date
• First significant sales
• Break even date
• Business licenses and approvals

You should also discuss the key numbers you will track to determine your success. Some common metrics worth tracking include:

• Conversion rates
• Customer acquisition costs
• Profit per customer
• Repeat purchases

It’s perfectly fine to start with just a few metrics and grow the number you are tracking over time. You also may find that some metrics simply aren’t relevant to your business and can narrow down what you’re tracking.

Dig Deeper: How to use milestones in your business plan

Organization and management team

Investors don’t just look for great ideas—they want to find great teams. Use this chapter to describe your current team and who you need to hire . You should also provide a quick overview of your location and history if you’re already up and running.

Briefly highlight the relevant experiences of each key team member in the company. It’s important to make the case for why yours is the right team to turn an idea into a reality. 

Do they have the right industry experience and background? Have members of the team had entrepreneurial successes before? 

If you still need to hire key team members, that’s OK. Just note those gaps in this section.

Your company overview should also include a summary of your company’s current business structure . The most common business structures include:

• Sole proprietor
• Partnership

Be sure to provide an overview of how the business is owned as well. Does each business partner own an equal portion of the business? How is ownership divided? 

Potential lenders and investors will want to know the structure of the business before they will consider a loan or investment.

Dig Deeper: How to write about your company structure and team

Financial plan

Last, but certainly not least, is your financial plan chapter. 

Entrepreneurs often find this section the most daunting. But, business financials for most startups are less complicated than you think, and a business degree is certainly not required to build a solid financial forecast. 

A typical financial forecast in a business plan includes the following:

• Sales forecast : An estimate of the sales expected over a given period. You’ll break down your forecast into the key revenue streams that you expect to have.
• Expense budget : Your planned spending such as personnel costs , marketing expenses, and taxes.
• Profit & Loss : Brings together your sales and expenses and helps you calculate planned profits.
• Cash Flow : Shows how cash moves into and out of your business. It can predict how much cash you’ll have on hand at any given point in the future.
• Balance Sheet : A list of the assets, liabilities, and equity in your company. In short, it provides an overview of the financial health of your business. 

A strong business plan will include a description of assumptions about the future, and potential risks that could impact the financial plan. Including those will be especially important if you’re writing a business plan to pursue a loan or other investment.

Dig Deeper: How to create financial forecasts and budgets

This is the place for additional data, charts, or other information that supports your plan.

Including an appendix can significantly enhance the credibility of your plan by showing readers that you’ve thoroughly considered the details of your business idea, and are backing your ideas up with solid data.

Just remember that the information in the appendix is meant to be supplementary. Your business plan should stand on its own, even if the reader skips this section.

Dig Deeper : What to include in your business plan appendix

Optional: Business plan cover page

Adding a business plan cover page can make your plan, and by extension your business, seem more professional in the eyes of potential investors, lenders, and partners. It serves as the introduction to your document and provides necessary contact information for stakeholders to reference.

Your cover page should be simple and include:

• Company logo
• Business name
• Value proposition (optional)
• Business plan title
• Completion and/or update date
• Address and contact information
• Confidentiality statement

Just remember, the cover page is optional. If you decide to include it, keep it very simple and only spend a short amount of time putting it together.

Dig Deeper: How to create a business plan cover page

How to use AI to help write your business plan

Generative AI tools such as ChatGPT can speed up the business plan writing process and help you think through concepts like market segmentation and competition. These tools are especially useful for taking ideas that you provide and converting them into polished text for your business plan.

The best way to use AI for your business plan is to leverage it as a collaborator , not a replacement for human creative thinking and ingenuity. 

AI can come up with lots of ideas and act as a brainstorming partner. It’s up to you to filter through those ideas and figure out which ones are realistic enough to resonate with your customers. 

There are pros and cons of using AI to help with your business plan . So, spend some time understanding how it can be most helpful before just outsourcing the job to AI.

Learn more: 10 AI prompts you need to write a business plan

• Writing tips and strategies

To help streamline the business plan writing process, here are a few tips and key questions to answer to make sure you get the most out of your plan and avoid common mistakes .  

Determine why you are writing a business plan

Knowing why you are writing a business plan will determine your approach to your planning project. 

For example: If you are writing a business plan for yourself, or just to use inside your own business , you can probably skip the section about your team and organizational structure. 

If you’re raising money, you’ll want to spend more time explaining why you’re looking to raise the funds and exactly how you will use them.

Regardless of how you intend to use your business plan , think about why you are writing and what you’re trying to get out of the process before you begin.

Keep things concise

Probably the most important tip is to keep your business plan short and simple. There are no prizes for long business plans . The longer your plan is, the less likely people are to read it. 

So focus on trimming things down to the essentials your readers need to know. Skip the extended, wordy descriptions and instead focus on creating a plan that is easy to read —using bullets and short sentences whenever possible.

Have someone review your business plan

Writing a business plan in a vacuum is never a good idea. Sometimes it’s helpful to zoom out and check if your plan makes sense to someone else. You also want to make sure that it’s easy to read and understand.

Don’t wait until your plan is “done” to get a second look. Start sharing your plan early, and find out from readers what questions your plan leaves unanswered. This early review cycle will help you spot shortcomings in your plan and address them quickly, rather than finding out about them right before you present your plan to a lender or investor.

If you need a more detailed review, you may want to explore hiring a professional plan writer to thoroughly examine it.

Use a free business plan template and business plan examples to get started

Knowing what information to include in a business plan is sometimes not quite enough. If you’re struggling to get started or need additional guidance, it may be worth using a business plan template. 

There are plenty of great options available (we’ve rounded up our 8 favorites to streamline your search).

But, if you’re looking for a free downloadable business plan template , you can get one right now; download the template used by more than 1 million businesses. 

Or, if you just want to see what a completed business plan looks like, check out our library of over 550 free business plan examples . 

We even have a growing list of industry business planning guides with tips for what to focus on depending on your business type.

Common pitfalls and how to avoid them

It’s easy to make mistakes when you’re writing your business plan. Some entrepreneurs get sucked into the writing and research process, and don’t focus enough on actually getting their business started. 

Here are a few common mistakes and how to avoid them:

Not talking to your customers : This is one of the most common mistakes. It’s easy to assume that your product or service is something that people want. Before you invest too much in your business and too much in the planning process, make sure you talk to your prospective customers and have a good understanding of their needs.

• Overly optimistic sales and profit forecasts: By nature, entrepreneurs are optimistic about the future. But it’s good to temper that optimism a little when you’re planning, and make sure your forecasts are grounded in reality. 
• Spending too much time planning: Yes, planning is crucial. But you also need to get out and talk to customers, build prototypes of your product and figure out if there’s a market for your idea. Make sure to balance planning with building.
• Not revising the plan: Planning is useful, but nothing ever goes exactly as planned. As you learn more about what’s working and what’s not—revise your plan, your budgets, and your revenue forecast. Doing so will provide a more realistic picture of where your business is going, and what your financial needs will be moving forward.
• Not using the plan to manage your business: A good business plan is a management tool. Don’t just write it and put it on the shelf to collect dust – use it to track your progress and help you reach your goals.
• Presenting your business plan

The planning process forces you to think through every aspect of your business and answer questions that you may not have thought of. That’s the real benefit of writing a business plan – the knowledge you gain about your business that you may not have been able to discover otherwise.

With all of this knowledge, you’re well prepared to convert your business plan into a pitch presentation to present your ideas. 

A pitch presentation is a summary of your plan, just hitting the highlights and key points. It’s the best way to present your business plan to investors and team members.

Dig Deeper: Learn what key slides should be included in your pitch deck

Use your business plan to manage your business

One of the biggest benefits of planning is that it gives you a tool to manage your business better. With a revenue forecast, expense budget, and projected cash flow, you know your targets and where you are headed.

And yet, nothing ever goes exactly as planned – it’s the nature of business.

That’s where using your plan as a management tool comes in. The key to leveraging it for your business is to review it periodically and compare your forecasts and projections to your actual results.

Start by setting up a regular time to review the plan – a monthly review is a good starting point. During this review, answer questions like:

• Did you meet your sales goals?
• Is spending following your budget?
• Has anything gone differently than what you expected?

Now that you see whether you’re meeting your goals or are off track, you can make adjustments and set new targets. 

Maybe you’re exceeding your sales goals and should set new, more aggressive goals. In that case, maybe you should also explore more spending or hiring more employees. 

Or maybe expenses are rising faster than you projected. If that’s the case, you would need to look at where you can cut costs.

A plan, and a method for comparing your plan to your actual results , is the tool you need to steer your business toward success.

Learn More: How to run a regular plan review

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How to write a business plan FAQ

What is a business plan?

A document that describes your business , the products and services you sell, and the customers that you sell to. It explains your business strategy, how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

What are the benefits of a business plan?

A business plan helps you understand where you want to go with your business and what it will take to get there. It reduces your overall risk, helps you uncover your business’s potential, attracts investors, and identifies areas for growth.

Having a business plan ultimately makes you more confident as a business owner and more likely to succeed for a longer period of time.

What are the 7 steps of a business plan?

The seven steps to writing a business plan include:

• Write a brief executive summary
• Describe your products and services.
• Conduct market research and compile data into a cohesive market analysis.
• Describe your marketing and sales strategy.
• Outline your organizational structure and management team.
• Develop financial projections for sales, revenue, and cash flow.
• Add any additional documents to your appendix.

What are the 5 most common business plan mistakes?

There are plenty of mistakes that can be made when writing a business plan. However, these are the 5 most common that you should do your best to avoid:

• 1. Not taking the planning process seriously.
• Having unrealistic financial projections or incomplete financial information.
• Inconsistent information or simple mistakes.
• Failing to establish a sound business model.
• Not having a defined purpose for your business plan.

What questions should be answered in a business plan?

Writing a business plan is all about asking yourself questions about your business and being able to answer them through the planning process. You’ll likely be asking dozens and dozens of questions for each section of your plan.

However, these are the key questions you should ask and answer with your business plan:

• How will your business make money?
• Is there a need for your product or service?
• Who are your customers?
• How are you different from the competition?
• How will you reach your customers?
• How will you measure success?

How long should a business plan be?

The length of your business plan fully depends on what you intend to do with it. From the SBA and traditional lender point of view, a business plan needs to be whatever length necessary to fully explain your business. This means that you prove the viability of your business, show that you understand the market, and have a detailed strategy in place.

If you intend to use your business plan for internal management purposes, you don’t necessarily need a full 25-50 page business plan. Instead, you can start with a one-page plan to get all of the necessary information in place.

What are the different types of business plans?

While all business plans cover similar categories, the style and function fully depend on how you intend to use your plan. Here are a few common business plan types worth considering.

Traditional business plan: The tried-and-true traditional business plan is a formal document meant to be used when applying for funding or pitching to investors. This type of business plan follows the outline above and can be anywhere from 10-50 pages depending on the amount of detail included, the complexity of your business, and what you include in your appendix.

Business model canvas: The business model canvas is a one-page template designed to demystify the business planning process. It removes the need for a traditional, copy-heavy business plan, in favor of a single-page outline that can help you and outside parties better explore your business idea.

One-page business plan: This format is a simplified version of the traditional plan that focuses on the core aspects of your business. You’ll typically stick with bullet points and single sentences. It’s most useful for those exploring ideas, needing to validate their business model, or who need an internal plan to help them run and manage their business.

Lean Plan: The Lean Plan is less of a specific document type and more of a methodology. It takes the simplicity and styling of the one-page business plan and turns it into a process for you to continuously plan, test, review, refine, and take action based on performance. It’s faster, keeps your plan concise, and ensures that your plan is always up-to-date.

What’s the difference between a business plan and a strategic plan?

A business plan covers the “who” and “what” of your business. It explains what your business is doing right now and how it functions. The strategic plan explores long-term goals and explains “how” the business will get there. It encourages you to look more intently toward the future and how you will achieve your vision.

However, when approached correctly, your business plan can actually function as a strategic plan as well. If kept lean, you can define your business, outline strategic steps, and track ongoing operations all with a single plan.

Noah is the COO at Palo Alto Software, makers of the online business plan app LivePlan. He started his career at Yahoo! and then helped start the user review site Epinions.com. From there he started a software distribution business in the UK before coming to Palo Alto Software to run the marketing and product teams.

Table of Contents

• Use AI to help write your plan
• Common planning mistakes
• Manage with your business plan
• Templates and examples

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How to Write a Business Plan in 8 Steps

March 12, 2021

• Executive summary
• Company description
• Market analysis
• Organizational structure & management
• Explain your product or service
• Marketing & sales strategy
• Financial plan & projections
• Tips on writing a business plan

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Related Articles

Launching a business without a business plan is a little like embarking on a hike through a pathless forest: Exhilarating at first, but ultimately a really, really bad idea. In this metaphor, obviously, your business plan acts as your much-needed map: It’s a detailed guide demonstrating what your business is, what it offers, and how it’ll operate. Beyond that, business plans are crucial if you’re approaching investors or other lenders (meaning, banks) for funding, as it demonstrates why your business is worth investing in. Clearly, understanding how to write a business plan is crucial to your business’ success.

While every business plan differs depending on the type of business, its stage of growth, and why you’re writing it in the first place, all well-rounded plans have some things in common—namely, these eight, key sections:

• Organizational structure and management
• Product or service explanation
• Marketing and sales strategy
• Financial plan and projections

Ahead, we’ll explain each of these sections in greater detail. Consider this step-by-step guide on how to write a business plan a “map” for your “map.”

Step 1: Executive summary

An executive summary is exactly what it sounds like: A summary of your business. If you’re writing a business plan for funding, investors will occasionally ask for only this document as an evaluation tool before requesting further information, so it should be precise, but brief—two pages, tops.

Here, you’ll touch on some of the topics you’ll delve deeper into in later sections of your business plan, like the following:

• What product or service does your company offer, and what is your value proposition?
• What is your target market?
• Who is your competition, and how does your business set itself apart?
• How do you plan on evolving your business in the future?
• What is your financial plan?
• If you’re seeking funding, how much funding do you need, and how do you plan on using it?
• Who are your business’s principal members, what is your legal structure, and where are you located?

Although your executive summary comprises the first part of your plan, many business experts and advisors actually recommend writing it last. That way, you’ll have a deeper understanding of the ins and outs of your plan, so it’ll be much easier to sum them up concisely here.

Step 2: Company description

Your company description is an expanded version of that first bullet point: What does your business actually do? Explain what your product or service is in general, and then how it fits into the larger marketplace. What gap in the market does your business fill, and how is it different from what your competitors are offering?

If you have a mission statement (which you should!), this is where you’ll put it. Also mention your business’s legal structure, where you’re located (especially if you have physical storefronts), and maybe even a short history of your business.

Essentially, this section drives home to investors why your product or service is necessary right now, and why your organization is best equipped to offer it.

Step 3: Market analysis

The market analysis section explains how your business slots into your industry.

First, provide a detailed portrait of your industry. What are some key trends and characteristics of your field right now? How do you (or experts) predict it will change and evolve over the next few years, and how will your business change and evolve with it? You should also identify potential problems or barriers to entry that may arise over the course of your operations, and how you plan to overcome them.

Next, define your target audience. What is the problem your prospective customers are trying to solve, and why will they choose you to offer the solution? What are your clients’ key demographics?

It’s useful to include competitor research here, as well. Identify your main competitors, and how they’re succeeding or failing in catering to your shared audience. Crucially, explain how you’ll emulate and personalize their strengths to suit your business, and how you’ll fill a gap they’re leaving in the marketplace.

Step 4: Organizational structure & management

Next, describe how your business is organized. Start by listing your business’s principal members, their roles in your business’s operations, and perhaps a sentence or two of relevant background information—if they’ve earned higher degrees, for instance, or their experience in your industry. Business plans for funding often include each principal member’s CV. For investors, this is a little like putting a face to the name, and help them understand why they can trust you with their investment.

If it’s applicable, you’ll also note how many employees you have here, and provide an organizational chart. If you don’t have employees now but plan to in the future, you may want to include a hiring plan.

Step 5: Explain your product or service

Here, you’ll describe exactly what products or services you’re offering. If you’re creating a product, note whether it’s ready to put on the market ASAP, or if you’re still in the ideation, creation, or beta stages. Also if you’re a product-based business, provide details about your vendors, how you’re sourcing your materials, how and where your product is created, and your distribution plan.

Regardless of whether you’re a service- or product-based business, provide a pricing structure and how it reflects your market analysis. And if it’s applicable, also include intellectual property rights, and any research and development your business plans to conduct.

Step 6: Marketing & sales strategy

Your marketing plan is one of the most important aspects of your business plan (and your business, period). So in this section, you’ll lay out the basics on how you’ll design a marketing strategy to best target your highest-intent customers. Will you lean heavily on organic digital marketing, for instance, or will you use a combination of organic and paid digital advertising? Alternatively, you may choose to work with a PR or social media firm to run your marketing efforts; if that’s the case, include information about their services here.

Step 7: Financial plan & projections

Another important, albeit slightly drier, aspect of your business plan: Your business’s financial outlook. Here’s where you’ll demonstrate your business’s financial stability with materials like balance sheets, cash flow statements, income statements, and financial projections. If you’re in the very beginning stages of your business, take stock of how much cash you have on hand, how much you need to launch, and how much you’ll need to operate over the next three to five years. You should also use this opportunity to create a business budget.

This step may be the trickiest, especially for the right-brained among us. Work with a business accountant if you need hands-on help.

Step 8: Appendix

The appendix is the “odds and ends” section of your business plan, where you’ll attach any supporting documents or reference material your readers need in order to fully evaluate your business. Think: CVs, charts, data points, legal documents, pictures of your products and packaging design, and examples of your marketing materials (like social media posts).

Top tips on writing a business plan

If you’re feeling overwhelmed by everything we just told you, here’s a hot tip: Don’t write it all in one sitting! Rather, break it up section by section, and take as much time as you need to tackle each one. But remember, too, that your business plan should be relatively concise. If you feel like you’re getting too deep into the weeds, then you probably are. Keep it simple.

Also, know that your initial business plan isn’t set in stone, especially if you don’t plan on submitting it to investors anytime soon. Rather, your plan is a living document that’ll shift and change alongside your business.

Finally, know that you don’t have to go it alone. If you need more guidance, consider enlisting a business advisor. Start by contacting your local SBA or SCORE office, as they can offer one-on-one business advising services for free.

Written on March 12, 2021

Our editorial content is intended for informational purposes only and is not written by a licensed insurance agent. Terms and conditions for rate and coverage may vary by class of business and state.

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How to Write a Business Plan

Back to Business Plans

Written by: Carolyn Young

Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.

Edited by: David Lepeska

David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.

Published on February 19, 2023 Updated on February 27, 2024

New business owners usually need to complete countless tasks before finally launching and doing business. One of the earliest and most important hurdles is writing a business plan. Many entrepreneurs who aren’t looking for funding think they can skip this step, but that’s never a good idea. 

A sharp and detailed business plan is essentially a business owner’s commitment to and preparation for the road ahead, detailing the operations, revenues, and potential growth. Lucky for you, this handy guide has all the info you need to write a fantastic business plan that’s sure to point you toward success.

A business plan is a detailed document laying out how the business will function and develop in its first few years . The key is the “plan” part of the name, which will specify how you will launch, gain customers, operate, make money, and, with any luck, expand. 

Yet what many first-time business owners seem to forget is that a business plan is not a static document. The initial version will be based largely on assumptions, supported by research. As you run your business you’ll constantly learn what works and what does not and make endless tweaks to your plan.

Thus, creating a business plan is not a one-time action – it’s a dynamic and continuous process of crafting and adapting your vision and strategy . 

1. Craft a Compelling Executive Summary

Launching into your business plan, you’ll first tackle the executive summary, albeit paradoxically, you’ll pen this section at the tail end of your process. This section isn’t mere fluff—it’s the encapsulating essence of your entire plan. With many investors and lenders skimming just this section to decide on their interest level, this summary has the power to enthrall or deter them.

To craft an engaging executive summary, ensure you incorporate the following critical elements:

• Spotlight the Business Opportunity: Dive into the core problem plaguing the market. What gaps or unmet needs have you identified?
• Introduce Your Innovative Solution: Describe the product or service you’re poised to offer. Emphasize its distinctiveness and its superiority in addressing the identified market problem.
• Chronicle Your Business Journey: Chronicle the milestones and steps taken thus far. Even if you’re just starting out, from ideation to business naming and entity formation, lay it out.
• Provide a Market Overview: Furnish insights into the industry, potential market size, your ideal customers, and existing competitors.
• Detail Your Unique Selling Proposition (USP): Make a compelling case for how your business will distinguish itself amidst competition. What’s your secret sauce?
• Set Out Immediate Goals: Highlight short-term objectives, whether it’s product development, launching an ad campaign, or onboarding a crucial team member.
• Offer a Financial Snapshot: Summarize your financial strategy, shedding light on anticipated costs, sales forecasts, and the critical break-even analysis.
• Introduce Your Stellar Team: Showcase the brains behind the business. Briefly detail their roles and underscore their pertinent experience.
• Make Your Investment Appeal: If you’re courting capital, be direct. Specify the funds needed and its intended utilization, for instance: “Seeking $50,000 seed funding to refine our beta product.”

Given the often limited attention spans of potential investors or lenders, your executive summary should be a concise yet captivating read, ideally not surpassing two pages. Ensure it compellingly conveys your business’s uniqueness and potential for success.

2. Detail Your Company’s Foundation and Future

Stepping into the next section of your business plan, it’s time to unveil the story and aspirations of your enterprise. Here’s how you can systematically and compellingly walk the reader through your company’s backdrop, ethos, and road ahead:

Recount Your Company’s Odyssey

Origins: Elucidate how the eureka moment struck and the journey you embarked on to bring this business into existence. Was it a personal pain point or a market gap you identified?

Milestones: Share notable achievements and turning points that validate your company’s growth and direction.

Mission and Vision Statement

Mission Statement: Define the very core of why your business exists. For instance: “We’re committed to simplifying the lives of entrepreneurs with user-friendly payroll software.”

Vision Statement: Paint a picture of where you envisage your company in the long run. An example could be: “We aspire to be the world’s preferred end-to-end HR software solution, trusted by enterprises globally.”

Set Forth Your Goals

Objectives: List concrete, time-bound goals that guide your short-term actions. Examples to consider:

“Finalize the maiden version of our product by [specific date].”

“Onboard two seasoned sales professionals within the next quarter.”

“Debut our initial product iteration to the market by year-end.”

For ease of reading and to cater to different interest levels of your audience, it’s prudent to segment this section into discernible subcategories: ‘Company Backstory’, ‘Mission & Vision’, and ‘Immediate Goals’. This structure not only ensures clarity but also emphasizes the importance of each aspect of your company’s narrative and purpose.

3. Describe Your Products or Services

In this crucial segment, your objective is to meticulously detail what you bring to the table, why it matters, and the mechanics of turning it into a profitable endeavor. By diving deep into the specifics of your product or service, you can paint a vivid picture for potential investors or stakeholders. Here’s how to structure this segment:

Introduce Your Product/Service

Problem-Solution Fit: Begin by spotlighting the existing market gap or pain point. Subsequently, elucidate how your offering is poised to address it effectively.

Unique Selling Proposition (USP): Describe the distinctive features or attributes that make your product or service stand out in the market. Is it more efficient? More affordable? More innovative?

Detail the Development and Sourcing

Creation Process: Expound on how the product is crafted or the service is developed. Whether it’s manufactured, technically coded, or procured, be clear and specific.

Sourcing Strategy: If you’re not producing it in-house, clarify from where and how you’ll obtain the product or resource.

Outline Your Sales and Pricing Strategy

Monetization Model: Will customers be paying a one-time fee, or will you be adopting a subscription-based model? Clarify the pricing structure.

Target Pricing: Indicate the anticipated price point for your offering and the rationale behind it, factoring in costs, competitor pricing, and perceived value.

Distribution Channels: Describe the avenues through which customers can acquire your product or service. Are you targeting online sales via your website or third-party platforms? Or will there be a brick-and-mortar store? Perhaps both?

In essence, this section should give stakeholders a lucid understanding of not just what you’re offering, but also the underlying logic of its creation, its market positioning, and the strategy to turn it into a revenue stream. Remember, while transparency is key, always ensure any highly-sensitive proprietary information is shared with discretion, perhaps contingent on confidentiality agreements when appropriate.

4. Conduct a Thorough Market Analysis

In the market analysis, you’ll embark on a deep dive into the intricate landscape your business is poised to operate in. This analysis is both a reflection of your industry’s current scenario and a predictor of its future. Here’s how to systematically break down this segment:

Industry Analysis

Industry Overview: Provide insights into the current state of the industry—its growth trajectory, market size, and prevalent trends. Consider where the industry might stand a decade from now.

Your Positioning: Carve out where your business fits within this industry. Is there a niche segment you’re targeting? Maybe a specific sub-sector? Delve into how you plan to evolve with the industry’s shifts and nuances. Remember to cite your data sources for authenticity.

Competitor Analysis

Scouting the Competition: Identify primary competitors and dissect their market stance. What makes them tick? Is it convenience, quality, or something else?

Your Differentiation: Highlight how you’ll distinguish your brand from the pack. Detail the competitive edge you have and the strategy to maintain it. This part is paramount for potential investors and stakeholders.

Target Market Analysis

Customer Profile: Illustrate your ideal customer. Are they distinct from your competitors’ clientele? Perhaps a younger audience or a different socio-economic class?

Deep Dive into Customer Psyche: Go beyond just demographics. Understand their pain points, aspirations, and how your offerings align with them. Clarify why they’d choose you over others.

Engagement Strategy: Identify the best channels to reach, engage, and convert these potential customers. Be it online advertising, offline events, or in-store promotions, draft a plan. Continuously recalibrate based on real-world feedback.

SWOT Analysis

Strengths: Enumerate the elements that set you up for success, be it a stellar team, proprietary tech, or unmatched service quality.

Weaknesses: Recognize potential pitfalls or areas of improvement. No startup is flawless, but having a mitigation plan is key.

Opportunities: Spotlight potential avenues for growth or market capture, whether it’s targeting a novel segment or leveraging an emerging tech trend.

Threats: Identify possible external challenges, be it competitors, tech disruptions, or regulatory shifts. Detail your strategy to navigate or counter them.

In essence, this section should serve as a comprehensive guide to the market landscape, not only for stakeholders but also as a strategic compass for your enterprise. Investing time and effort here will provide clarity and direction for both immediate and long-term actions.

5. Outline Your Marketing and Sales Strategies

Marketing and sales are the engines driving your business growth. It’s about creating visibility for your offerings and then converting interested individuals into loyal customers. Here’s a structured approach:

Marketing and Advertising Plan

Channel Selection: Based on your target market analysis, pinpoint where your potential customers spend their time. Whether it’s TikTok, Instagram, or newer platforms, allocate your marketing budget wisely. Describe each channel’s potential and your rationale behind choosing it.

Messaging: Craft a compelling narrative around the benefits of your product or service. Start with a strong value proposition—a succinct statement encapsulating:

• What you offer.
• Whom it’s for.
• The problem it addresses.
• The unique benefits it brings.
• How it stands out from the competition.

For instance: “Intuitive payroll software tailored for small business owners, simplifying complex processes at an unbeatable value.”Ensure your value proposition remains central to all your marketing initiatives.

Sales Strategy and Tactics

Sales Vision: Define how and where you’ll interact with potential buyers. This might be through an e-commerce platform, physical storefronts, or direct outreach, especially in a B2B setting.

Conversion Tactics: Once prospects interact with your sales channels, how do you convert them? Whether it’s persuasive web design, engaging product demos, or a compelling pitch by your sales team, the focus should be on addressing customer pain points and showcasing your unique value.

Pricing Strategy

Market Positioning: Understand how you want to be perceived in the marketplace. Are you a cost-effective solution akin to Walmart, or do you aspire to be seen as a premium offering like Mercedes? This perception will guide your pricing.

Factors to Consider: While perception drives pricing, ground it in realities:

• Cost Structure: Ensure prices cover operational costs and yield a healthy profit margin.
• Competitive Landscape: Assess what competitors are charging. Are you providing more value, or are you aiming for cost leadership?
• Customer Willingness: Gauge what customers are willing to pay, especially if you’re introducing a novel solution.

Substantiate your chosen pricing model by addressing these factors and explaining the rationale behind it.

In sum, this section should paint a comprehensive picture of how you’ll attract and retain customers. This isn’t just a guide for potential investors; it’s also a roadmap for your teams, ensuring everyone is aligned towards a common goal: sustainable business growth.

6. Outline Operations and Management Plan

This section is the real nuts and bolts of your business – how it operates on a day-to-day basis and who is operating it. Again, this section should be divided into subsections.

Operational Plan

Daily Operations: Break down the everyday tasks and responsibilities. Who’s in charge of sales, customer service, quality assurance, or procurement? Highlight routine activities.

Supplier Management: Outline your vendor relationships. How will procurement be managed? When and how frequently will raw materials or inventory be replenished? Establish an understanding of your supply chain.

Quality Control: Discuss measures ensuring product or service quality. This could range from QA testing for products to training protocols for service providers.

Critical Functions: Highlight essential roles and processes that ensure your business remains operational. This could include inventory management, customer relations, or financial management.

Technology Plan

Technical Development: If your business is tech-based, provide a roadmap of product development. Identify stages, milestones, and timelines.

Tech Infrastructure: For non-tech businesses, explain the technological tools and platforms that will support your operations. Whether it’s CRM systems, accounting software, or collaboration tools, detail how technology enhances efficiency and effectiveness.

Management and Organizational Structure

Leadership Profiles: Begin with an overview of the top brass. Highlight their roles, qualifications, and past experiences that make them apt for their positions. This might include resumes or CV summaries, demonstrating their ability to drive success.

Organizational Design: Visualize the hierarchical structure. Use an org chart to show lines of authority, roles, and departments. Discuss the rationale behind this structure and how it aids in decision-making and operational efficiency .

Personnel Plan

Current Personnel: List existing employees, their roles, and their key responsibilities. Also, outline their qualifications and the value they bring to the business.

Future Hiring: Identify gaps in your current team and forecast future hiring needs. Detail job roles, expected qualifications, and when these positions will be filled. Consider also discussing training, onboarding, and retention strategies.

In summary, this section provides a clear picture of the “how” behind your business. It offers investors, partners, and even employees a look into the inner workings of your company and the human capital driving it. By detailing each aspect meticulously, you’re not just showing a well-thought-out plan but also building credibility and trust.

7. Make a Financial Plan 

Now, you’ll enter the dreaded world of finance. Many entrepreneurs struggle with this part, so you might want to engage a financial professional. A financial plan has five key elements.

Startup Costs

Detail in a spreadsheet every cost you’ll incur before you open your doors. This should determine how much capital you’ll need to launch your business. 

Financial Projections 

Creating financial projections, like many facets of business, is not an exact science. If your company has no history, financial projections can only be an educated guess. 

First, come up with realistic sales projections. How much do you expect to sell each month? Lay out at least three years of sales projections, detailing monthly sales growth for the first year, then annually thereafter. 

Calculate your monthly costs, keeping in mind that some costs will grow along with sales. 

Once you have your numbers projected and calculated, use them to create these three key financial statements: 

• Profit and Loss Statement , also known as an income statement. This shows projected revenue and lists all costs, which are then deducted to show net profit or loss. 
• Cash Flow Statement. This shows how much cash you have on hand at any given time. It will have a starting balance, projections of cash coming in, and cash going out, which will be used to calculate cash on hand at the end of the reporting period.
• Balance Sheet. This shows the net worth of the business, which is the assets of the business minus debts. Assets include equipment, cash, accounts receivables, inventory, and more. Debts include outstanding loan balances and accounts payable.

You’ll need monthly projected versions of each statement for the first year, then annual projections for the following two years.

Break-even Analysis

The break-even point for your business is when costs and revenue are equal. Most startups operate at a loss for a period of time before they break even and start to make a profit. Your break-even analysis will project when your break-even point will occur, and will be informed by your profit and loss statement. 

Funding Requirements and Sources 

Lay out the funding you’ll need, when, and where you’ll get it. You’ll also explain what those funds will be used for at various points. If you’re in a high growth industry that can attract investors, you’ll likely need various rounds of funding to launch and grow. 

Key Performance Indicators (KPIs)

KPIs measure your company’s performance and can determine success. Many entrepreneurs only focus on the bottom line, but measuring specific KPIs helps find areas of improvement. Every business has certain crucial metrics. 

If you sell only online, one of your key metrics might be your visitor conversion rate. You might do an analysis to learn why just one out of ten site visitors makes a purchase. 

Perhaps the purchase process is too complicated or your product descriptions are vague. The point is, learning why your conversion rate is low gives you the chance to improve it and boost sales. 

8. Add Additional Information to an Appendix

In the appendices, attach any relevant reports and documents, such as manager resumes or financial breakdowns. 

• Purpose of a Business Plan

If you need funding for your business, whether you go to investors or a lender, they will want to see your business plan, particularly when you’re very early in the startup process. With no history, a business is just an idea, so they’ll want assurances that you have a sound concept and strong vision. 

A business plan is also just what the name says – it’s your plan for your business. It should guide you as you move forward so that you’re not just figuring out what to do as you go. 

• Importance of a Business Plan 

Clearly, if you’re seeking capital for your business, a business plan is a must. But even if you’re not, as stated, a business plan will be your guide as you launch your new company. 

Creating a business plan early in the startup process also helps you to think through every aspect of your business. You’ll learn a great deal as you research and write your business plan, and that invaluable knowledge could be the difference between success and failure. 

Writing a business plan takes much research and a considerable amount of time, but it’s well worth the effort. It will be your roadmap as you work your way through the startup process. 

• Conclusion 

Crafting a business plan is one of the more complex and involving elements of starting a business, but it is absolutely crucial . And you’ll want to do it well, so be willing to take your time and be open to help from a financial professional if you need it. 

Keep in mind that writing a business plan is an important learning process, and that once you complete it you’ll know how to run your business and be fully prepared for whatever comes your way. Once you’ve completed your plan, have someone review it before you send it out to investors and loan officers. 

If you’re applying for a bank loan, just contact the bank and follow their application process. If you’re seeking investors, you’ll likely need a pitch deck, and your best bet is to go to your local business incubator. They’ll have professionals who’ll walk you through the pitching process.  

Don’t forget to pat yourself on the back! Completing a robust and detailed business plan is a massive step on the road to launching your business and making your dream a reality. 

If you need funding for your business, whether you go to investors or a lender, they will want to see your business plan, particularly when you’re early in the startup process. Without a history, a business is just an idea, so they will want to see you have a thorough plan.

A business plan is also just what the name says – it’s your plan for your business. It should guide you as you move forward so that you’re not just figuring out what to do as you go.

If you’re seeking capital for your business, a business plan is a must. But even if you’re not, a business plan will be your guide as you launch your company. 

Creating a business plan early in the startup process also helps you to think through every aspect of your business. You’ll learn a great deal as you research and write your business plan, and the invaluable knowledge that you’ll gain could be the difference between success and failure. 

The key components of a business plan are the executive summary , a company overview, a market analysis, a marketing and sales strategy, an operations plan, a management plan, and a financial plan.

Writing a business plan is a complex process that involves a great deal of research and time. The key components of a business plan are the executive summary, a company overview, a market analysis, a marketing and sales strategy, an operations plan, a management plan, and a financial plan. It’s wise to seek the help of a professional to help you, particularly with the financial component.

A good business plan is detailed but to the point. Your executive summary should be no longer than two pages, and the whole business plan should be 20-25 pages.

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• Craft a Compelling Executive Summary
• Detail Your Company's Foundation and Future
• Describe Your Products or Services
• Conduct a Thorough Market Analysis
• Outline Your Marketing and Sales Strategies
• Outline Operations and Management Plan
• Make a Financial Plan 
• Add Additional Information to an Appendix

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How to Write a Business Plan in 9 Steps

CEO Avada Commerce

Starting a business without a business plan is quite possible. But why would you risk that, especially when you are investing thousands of dollars to set up your startup?  

Whether you aim to secure funding, need a roadmap to achieve business objectives, or want to attract the attention of stakeholders—having a well-crafted business plan is like an indispensable asset for your business. 

But writing a business plan is not that easy. One needs strategic direction, a bit of writing flair, and a thorough understanding of what each section should include. 

A lot for someone who has never written a business plan earlier in their life. 

Well, having a useful guide like this blogpost can nudge you in the right direction and teach you how to write for different business plan components. 

Ready to get started? Let’s dive right in. 

9 Steps to Write Your Business Plan  

From creating your executive summary to conducting market research and preparing your financial plan—here is a step-by-step guide to writing your business plan. 

• Draft your executive summary

An executive summary is the first and most important section of your business plan. 

It is after this section that an investor will decide whether or not to proceed with your business proposal. 

Begin this section by introducing your business idea and then summarize the key essentials of a plan in a compelling narrative. Highlight information relating to the market, product, team, competitors, financials, and business goals to help investors get a macro but thorough perspective. 

Also, write your executive summary only after you are done writing for the other aspects of a business plan. This will help you distill essential information and present it appropriately. 

• Write a brief company overview

A company overview is a detailed summary describing your business and its future objectives. It offers you a chance to tell your business story to the readers, so make sure it is engaging. 

Begin this section by detailing your company’s information like its name, location, ownership, and business structure.

Clarify if the business would be registered as a sole proprietorship, partnership, LLC, or corporation. Also, introduce the partners if any, and discuss their profit-sharing ratio. 

In this section, you will also highlight the company’s vision statement, its business objectives, and future goals after evaluating your business fundamentals and core values. 

Lastly, don’t forget to talk about the milestones you have already achieved and the history of the company, if it has been operating for a long time. 

• Define your market research

Market research and analysis is a crucial part of your business plan. It shows that you have a thorough understanding of the market and the industry you are about to enter. 

In this section, you should talk about the market size and state of market in the current economy. Elaborate further by defining your Total Addressable Market (TAM), Serviceable Addressable Market (SAM), and Serviceable Obtainable Market (SOM) to help lenders get distilled clarity. 

Additionally, give an overview of your target market and create a buyer’s persona to show what your ideal customer looks like. Talk about the psychographic and demographic details of your ideal customer, i.e. age, gender, income, interests, pain points, behavioral pattern, etc. 

This is essential so that you can create strategies effective for your target market. 

Lastly, include details about the emerging trends in your industry and show how your product fits perfectly within that market. 

• Conduct competitor’s analysis

Competitor analysis is an aspect of market research that deeply studies the competitive landscape of your business. 

In this section of your business plan, you will identify your direct and indirect competition and analyze them on grounds of price, features, and target market. 

Such analysis will help you draw your competitive edge in the market. Not only that, it will show the lenders that competition will not come in the way of your business achieving its goals.   

• Describe your products and services

This section of your business plan explores your product and service offerings in great detail. 

Here, you will list down all the products and services that will bring money to your business. This includes all sorts of primary and secondary products/ services that are available for sale. 

For instance, if you are planning to start an online pet store, talk about all sorts of products, brands, and pet needs you will be catering to. Also, include the list of services like pet grooming, vet consultation, puppy training, and others you would be offering on your platform. 

When you list down the products also add a brief overview of those products and the prices to give lenders a thorough understanding. 

Instead of making this section purely textual, add infographics and HD images to it engaging and informative. 

• Explain your operational plan

This section of your business plan shows how you are going to run the business and turn the idea into a reality. 

It includes a detailed breakdown of each business procedure, right from the client acquisition, to training protocols, quality control practices, and everything else. 

It’s important that you take time and work on your operations plan as it most often works as a guidebook for running a business. 

Now if you are wondering what to include in your operations plan, here are a few things it must definitely have: 

• Standard operating procedures for running different business activities. 
• Logistics and distribution of products through different life cycles. 
• Production workflow, if applicable. 
• Details of supply chain like vendors and agreements. 
• Details about the physical location of your business, its dimensions, agreements, etc. 
• Equipment and technologies to perform everyday business activities and their details. 
• Staff and hiring plan and an understanding of who will perform what tasks. 

Also, include your long-term plans and show how you plan to reach there with streamlined operations. 

Again, try to add infographics, charts, and diagrams wherever possible to make this section easily absorbable for the readers.  

• Outline your marketing and sales strategies

The marketing and sales section of your business plan offers an in-depth overview of your sales and marketing strategies. 

In this section, you will talk about your sales goals, forecasts, and methods to achieve those sales goals. Explain your plans to attract new customers and retain existing clients and discuss your sales strategy in detail.

Further, describe your marketing plan, budget, and methods to track the progress of different marketing activities. 

Dive into detail and explain how you will implement different marketing strategies like print media, pay-per-click, email marketing, social media marketing, events/ launch, and others. 

Overall, offer an overview of your strategies to achieve the most important objective of your business, sales. 

• Introduce your management team

Lenders and investors want to know if you have the right people on the team to pull off your business idea. Well, this is your chance to tell them about solid people on your team. 

Introduce the CEO and members of managerial positions in this section. Talk about their experience, expertise, skill sets, achievements, and how they make the right fit for your business. 

Don’t you worry about bragging. This is absolutely the right time to brag about your star team. 

Further, introduce people at the middle and lower levels and explain the organizational hierarchy in your business through a diagram. Also, add the approximate salaries of the people to give the readers a more nuanced understanding.  

• Offer detailed financial forecasts

This is the most critical part of your business plan, especially if you are planning to seek funding from investors. 

Now, there are many things you can include in your financial plan. However, if there are 3 quintessential it must include, those are: 

• Income Statement
• Balance Sheet 
• Cash Flow Statement

While making the financial plan, include predictions and forecasts for up to 3-5 years so that investors can gauge the viability and feasibility of your business idea. 

Apart from these key statements, you can also include figures for start-up costs, the cost of goods sold (COGS), revenue forecasts, and break-even analysis in this section. 

Lastly, ensure that you add visual graphs, charts, and diagrams to make your finances easy to grasp and understand.

Let us now see if there is a way to write your business plan effectively without much effort.  

How does AI help in writing your Business Plan?

Writing a business plan from scratch without any assistance, template, or structure can be time-consuming. 

However, with AI making the rounds, it is easier than ever to perform creative and repetitive tasks, efficiently. Especially for someone who finds it difficult to transform their ideas into words, AI can make the task of writing a business plan much easier. 

Now, generative AI tools like Chat GPT and Bard can help you write the contents of your plan. However, they lack the understanding of specific nuances that a business plan must include. 

Using an AI business plan builder instead can be more effective as it structures and plans the contents specifically suited for a business plan. 

All you need to do is answer the questions relating to your business and let AI create a unique business ps easy to get a headstart and then make essential changes thereafter using AI assistance. 

AI will not only make the process less time-consuming, but it will also help in increasing the effectiveness of your business plan by working strategically on the content and structure. 

Business plans are quintessential for any business. Whether you are starting a new venture, expanding the current one, or seeking investment for your startup—having a solid business plan will give you a headstart in the right direction. 

Follow this step-by-step guide or get yourself an AI plan builder to write your business plan in no time. Get started now. 

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