First, you can map out exactly what your business goals are in a project, invite teammates to collaborate and message business partners to discuss everything. Plus, you can export your data when you’re ready to put all the details into a presentation to hand over to potential investors. This Lean business plan has all the necessary parts to articulate your business vision and strategy. Add information about the problem you aim to solve, your product or service offering, unique value proposition, target customers, cost structure, revenue streams, and a timeline of milestones. Included on this page, you’ll find Word business plan templates for small businesses, startup businesses, product and service businesses, and more. After this initial read, outline your business plan and copy in from the sample plan sections that apply to your business.
Copy our free simple business plan template so you can fill in the blanks as we explore each element of your business plan. Whichever startup category you fall into, if you’re at square one, our simple business plan template will point you down the right path. In general, you should use a traditional model for a legacy company, a large company, or any business that does not adhere to Lean . Use Lean if you expect the company to pivot quickly or if you already employ a Lean strategy with other business operations. Additionally, a Lean business plan can suffice if the document is for internal use only. Stick to a traditional version for investors, as they may be more sensitive to sudden changes or a high degree of built-in flexibility in the plan.
Business Operations Costs
Maybe you feel like a specific service doesn’t exist or you can offer better pricing or a better experience in a unique market. No matter your bottom line, if you don’t have the necessary financial resources, the company won’t be able to accomplish its goals and may not even be able to keep its doors open. The key difference is that you’ll be investing your own money — so it pays to be prudent, do your market research, and come back with a plan that maximizes your profit while minimizing costs. With all that said, keep in mind that any business plan is still all about helping you make money at the end of the day. Unless you’re creating a new industry, you will have competitors.
- In any case, the formal documentation can provide the clarity needed to motivate staff, woo investors, or inform future decisions.
- To successfully get one, you’re going to need to articulate exactly how you’ll spend every single penny — so make sure you have a solid business plan in place before you apply.
- Outline elements such as your ideal customer profile as well as your marketing channels, budget, and methods.
- “For investors, it’s an important element to include who these people are and what their experience is,” saysTim Berry, president and founder of Palo Alto Software.
Include details about the business owners and its management team. Present a short overview of your staff or proposed staff, and include a brief clarification of why you and your staff are the best individuals to take your idea to market. If your small business method (i.e., “the way you generate income”) needs further clarification, then say you will describe it in more detail in later sections of the business plan.