A business plan is usually developed around the answers to three common questions:
- Where are we now?
- Where do we want to be?
- How are we going to get there?
And is usually written for one or more of these five reasons:
- To test the feasibility of your business idea and work out any bugs on paper first.
- To develop strategies ahead of time for marketing, finance, operation and human resources, instead of when you’re in the fast-paced start-up stage.
- To get funding, such as a bank loan.
- To attract investors.
- To have a roadmap to follow for at least the first year in business.
Sections of a business plan
A business plan contains sections such as: Marketing Plan, Startup Expenses and Capitalization, Management and Organization, Products and Services, and Operational Plan.
Download our free one-page business plan template
A great deal of time and effort should be spent planning before your new company’s products and services ever reach the market. You need a good foundation and planning before you invest all your time and money.
You can find GoForth Institute’s free One-Page Business Plan here – happy planning!