Business planning also forces business owners to evaluate their marketing strategy, the cost of customer acquisition and retention, and how they plan to grow their business over time. Good business plans help a company determine the viability of its place in the market and can help the business develop better strategies for differentiating itself from its competitors. Every section involved in a business plan is designed to help startup businesses reach their target market. Simple Business Plan Template This simple business plan template walks you through the stages of establishing a successful business or seeking funding.

Consider a change of scenery to clear any mental blocks or provide extra inspiration. A well-written business plan will also create confidence, clarity, direction and alignment for a business owner and their team. To help you navigate the process, two business advisors share their best tips for writing a business plan.