The sample Business Plan Template below is free to download, customize and print and use as a guide to create a plan for your small business.
What is a Business Plan?
A Business Plan is a formal statement of a set of business goals, the reasons they are believed to be attainable, and the plans for reaching those business goals. It may also include background information the organization or team attempting to reach those goals.
How to Start a Business with a Business Plan
Business plans are critical to the success of any business or new venture. Entrepreneurs should certainly dedicate their time to create these plans regardless if they are searching for investors. Business plans serve as the framework for your business and provide benchmarks to see if you are indeed meeting your business goals. They are definitely a key to helping you think through your business and keep you on the right track.
It is important that Entrepreneurs outline their business plan very carefully. Always consider all the different variables so that you are not rushed into anything and always test your assumptions.
Always take some time to work with your colleagues, business partners, and mentors on your plan. Have them look for holes in the plan that you might have overlooked. Seeking input is a great way to get an objective view so always get this extra input and adjust accordingly.
It is good to include these components in your business plan:
- Mission/Vision Statement
- Company/Product/Service Description
- Product/Service Differentiation from Other Products/Services
- Market Analysis
- Management Team Description including Experience of Key Team Members and Previous Successes
- Product/Service Marketing Plan
- Company’s Strengths, Weaknesses, Opportunities and Threats Analysis
- Cash Flow Statement
- Revenue Projections
- Business Plan Summary/Conclusion
Click on the link to download the free Business Plan Sample below: