How to Write a Business Plan for a Small Business: 14 Steps

Business Plan

Joanna holds both a BA and an MA in journalism, and previously worked within a variety of fields including HR and recruitment, travel, fashion and entertainment. She’s also our in-house fashion guru and enjoys cooking up a storm in her spare time. When writing a business plan, being honest with yourself and your audience is one of the best approaches you can adopt. Don’t include unrealistic earnings projections or underestimate your competitors; otherwise, you’ll risk sounding uncredible or unknowledgeable.

  • While there are any number of templates that you can use to write a business plan, it’s best to try to avoid producing a generic-looking one.
  • Regardless of what stage your business is in, this template is flexible enough to accommodate your needs.
  • A restaurant, on the other hand, needs to include a lot more detail—e.g.
  • Nowadays, the line between marketing and sales channels is blurred.
  • There is no one-size-fits-all marketing strategy, and you need to find the one that brings in the highest number of potential customers.

This could be added in more detail in your business plan and referred to in your executive summary. The final section of the business plan should include a set of actions to take before you review your business plan next, and check your progress. This should be over a 6–12 month period, based on the business goals outlined in your plan.

How to Register Your Business

You’ll find all the sections listed above, including spaces for industry and product overviews, cost structure and sources of revenue, and key metrics, and a timeline. The template is completely customizable, so you can edit it to suit the objectives of your Lean startups. In this section, you will explore your business’s financial future. If you are writing a traditional business plan to seek funding, this section is critical for demonstrating to lenders or investors that you have a strategy for turning your business ideas into profit. For a lean start-up business plan, this section can provide a useful exercise for planning how you will invest resources and generate revenue . Marketing Brief TemplateManaging a marketing campaign or promotion is a challenging task.

Business Plan