Good Business Plan Examples: How To Write your business plan | Your business plan is the foundation of your business. Learn how to write a business plan quickly and efficiently with a business plan template.
Good Business Plan Examples: How To Write your business plan
Business plans help you manage your business
A good business plan guides you through each stage of starting and running your business. You will use your business plan as a roadmap for how to structure, manage and grow your new business. It’s a way of thinking about the essential elements of your business.
Business plans can help you obtain financing or attract new business partners. Investors want to feel confident that they will see a return on their investment. Your business plan is the tool you will use to convince people that working with you – or investing in your company – is a smart choice.
Good Business Plan Examples | Choose the business plan format that suits you
There is no right or wrong way to write a business plan. It is important that your plan meets your needs.
Most business plans fall into one of two common categories: a traditional or simple startup.
Traditional business plans are more popular, use a standard structure, and encourage you to go into detail in each section. They tend to require more work up front and can consist of dozens of pages.
Lean startup business plans are less common but still use a standard structure. They focus on summarizing only the most important points in the main elements of your plan. It can take less than an hour to set up and is usually only one page.
Structure of a cultural action plan
You may prefer the traditional business plan format if you have a more detailed approach, want a more detailed plan, or plan to apply for funding from traditional sources.
When writing your business plan, you don’t have to stick to a business plan outline. Instead, use the parts that make the most sense for your business and needs. Cultural business plans use a combination of these nine components.
Summary
Briefly tell the reader about your company and why it will be successful. Include information about your mission, product, or service, and background information about your company’s management team, staff, and location. You should also include financial information and maximum growth plans if you plan to apply for financing.
Company information
Use your company information to provide detailed information about your company. Get into the details about the problems your business solves. Be specific, and list the users, organization, or businesses your company plans to offer.
Explain the competitive advantages that will make your business successful. Are there experts on your team? Did you find the right website for your store? Your company profile is a place to be proud of.
Market analysis
You will need to have a good understanding of your industry vision and target market. Competitive research will show you what other companies are doing and what their strengths are. In your market research, look for patterns and themes. What do successful competitors do? Why do you work? Can you make it better? Now is the time to answer these questions.
Organization and Management
Tell the reader how your company was formed and who will run it.
Explain the legal structure of your business. Determine if you have or intend to incorporate your business as a C or S organization, form a general or limited partnership, or if you are a sole proprietor or a limited liability company (LLC).
Use an organization chart to show who is responsible for your company. Show how each person’s unique experience will contribute to the success of your project. Consider including the profiles and bios of key participants on your team.
Service or production line
Describe what you sell or the service you provide. Explain how you benefit your customers and how the product life cycle is similar. Share your intellectual property plans, such as copyright or patent. If you are researching and developing your service or product, describe it in detail.
Sales and marketing
There is no one way to approach the marketing strategy. Your strategy must be flexible and adaptable to suit your unique needs. Good Business Plan Examples
Your goal in this section is to explain how to attract and retain customers. It will also explain how sales will happen. You will refer to this section later when you make financial estimates, so be sure to outline your complete marketing and sales strategies correctly.
Funding Request
If you are applying for a grant, this is where you will determine your funding needs. Your goal is to clearly state how much money you will need for the next five years and how much you will spend on it.
Decide if you want debt or equity, the terms you want to apply, and how long your application will be used. Provide detailed instructions on how your money will be spent. Decide if you need money to buy equipment or supplies, pay salaries, or pay certain bills even to increase income. Always include details of your future financial strategic plans, such as paying off debt or selling your business.
Financial Estimates
Add your funding request for financial estimates. Your goal is to convince the reader that your business is stable and financially viable.
If your business has already been established, include income statements, balances, and cash flow statements for the last three to five years. If you have any other collateral you can offer against the loan, be sure to include it now.
Provide projected financial forecasts for the next five years. Include projections of income statements, balances, cash flow statements, and capital expenditure budgets. For the first year, be more specific and use quarterly — or even monthly — estimates. Make sure you state your estimate clearly, and compare it to your application for funding.
Here is a great place to use infographics and charts to tell the story of your business.
Additions
Use your supplement to submit supporting documents or other required materials. Common items to include are credit records, personal files, product images, reference letters, licenses, permits, patents, legal documents, and other contracts.
Example of a traditional business plan
Before writing your business plan, read the following example business plans written by design business owners. Rebecca owns a consulting company, and Andrew owns a toy company.
Lean setup format
You may prefer a simple setup format if you would like to explain or start your business quickly, your business is relatively simple, or you plan to change and improve your business plan from time to time.
Simple startup designs are charts that use only a few components to describe your company’s value proposition, infrastructure, customers and finances. It is important to visualize the business and the basics about your company.
There are different ways to create a simple startup model. You can search the web for free templates to create your own business plan. We discuss nine aspects of a typical business plan here:
Key Collaboration
Remember the businesses or services you will be working with to run your business. Think of distributors, developers, subcontractors, and similar strategic partners.
Basic activities
List the ways in which your business will gain a competitive advantage. Focus on things like selling directly to consumers, or using technology to benefit the participating economy.
Key Resources
List any resources you will use to create value for your client. Your most important assets may include staff, capital, or intellectual property. Don’t forget to take advantage of the business resources available to women, veterans, Native Americans and HUBZone businesses.
Valuable website
Provide clear and interesting information about the unique value that your company brings to the market.
CRM
Explain how customers will communicate with your business. Is it mechanical or personal? Face-to-face or online? Think about the client experience from start to finish.
Customer groups
Be specific when it comes to your target market. Your business will not be available to everyone, so it is important to have a clear idea of ​​who will serve your business.
Way
Make a list of the most important ways to communicate with your customers. Many companies use a combination of channels and upgrade them over time.
Cost structure
Will your company focus on reducing costs or adding value? Describe your strategy, and list the most important costs you will face in pursuing it.
Sources of income
Explain how your company will make money. Some examples are direct sales, membership fees and advertising space. If your company has multiple sources of revenue, list them all.
Example lean business plan
Before writing your business plan, read this example of a business plan written by a design business owner, Andrew, who owns a toy company.
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