How To Write A Business Plan Step By Step

Do you need a small-scale business plan to help prepare your venture for success?

Writing a good business plan depends on several factors considered key to the growth of a business. A comprehensive business plan helps in charting a course for the future sustainability of your venture, eventually translating to profitability and stability.

Do you know different types of business plans exist? Do you know you can make good money writing business plans? Are you aware of the critical risks associated with a business plan? Are you looking for a business plan writing software, try Liveplan.

Well, let’s go through the world of business plans together.

EXAMPLES OF BUSINESS PLANS

Here are some common business plans:

AGRICULTURE

PETS

FOOD & DRINKS

HEALTH & CARING

FASHION AND BEAUTY

INTERNET AND TECHNOLOGY

AUTO AND TRANSPORT

FINANCIAL SERVICES

OTHER BUSINESS SERVICES

Developing A Business Plan Outline

All business plans follow a particular order. Although they may have slight variations, these plans should follow an outline in order not to end up looking shabby.

For example, an executive summary cannot come at the bottom of your business plan. The point here is that the arrangement of a business plan is sequential to adequately guide users.

An example of a good business plan outline will include the following sections in this order;

– Executive Summary
– Company Description
– Products and Services
– Marketing Plan
– Operational Plan
– Management and Organization
– Startup Expenses and Capitalization
– Financial Plan and lastly 
– Appendices

Here is a brief explanation of the sections:

Executive Summary

Because of the importance of this section, it usually comes first. Investors pay close attention to it to find out if your business is worth investing in or not. Hence, this section should captivate the reader and exude the enthusiasm of the business plan writer.

Company Description

This contains a basic description of your business highlighted through; the mission and vision statements, the goals, your target market, your legal structure or ownership, and the industry.

Products and Services

This section showcases the products and services offered and how they solve particular needs. This is usually presented from the client’s point of view.

Also, it highlights the competitive advantages the business has over its competitors, and lastly the pricing structure of its products.

Marketing Plan

The marketing plan section provides information on the type of marketing to attract and retain customers. It highlights the target market for the business, marketing research, barriers to entry, as well as threats to business promotion.

Operational Plan

Information on general and specific business operations are important here. This section covers areas such as production, quality control, location, and the legal environment of the business. The hired personnel, inventory, suppliers, and the business’ credit policies are also highlighted in this section.

Management and Organization

The management organization of the business is provided, with the functions and duties of each position spelled out. This is because the way a business is organized around these offices affects business performance.

Startup Expenses and Capitalization

This aspect is crucial to business plans and investors are usually very interested in its contents. It includes the startup expenses, opening day balance sheet, and personal financial statements.

Financial Plan

The financial plan should provide financial projections at certain intervals. This can be yearly intervals, as the case may be. It should also contain a cash flow projection of the business, and a break-even calculation.

Appendix

Some details are not made available on the business plan to prevent cluttering. These details are collated into an appendix where readers get further clarification.

These are the important elements that must be present in a startup business plan for small businesses.

With this template I have provided, I am sure you now have a helpful guide to help you in creating a viable business plan for the small business that you want to start up.

Conclusion

Using templates and business plan software is the best approach to writing a convincing business plan that attracts funding. Due to the layouts of business plan templates, all a writer needs is to brainstorm on what suits the particular business he is writing on.

For each section, a business plan template guides what it should contain. This makes it easy for you to create a business plan that impresses investors.

9 comments

  2. This Are Nice And Awesome Ideas.
    Please How Can I have a business plan for mobile money business. For example a Quickteller Paypoint business.

  3. This is great, I have identified a potential stand /plot next to the mines for me to sestablish a diesel depot , Please advise on a very good business plan sample.

  7. I want to start a transportation service so I need help writing the proposal sample please help

  8. Hi, I am interested in starting a boat rental and hire service business in small scale at home in East New Britain Province. I need planning and marketing information on this idea.
    Anyone with this idea please help.

  9. Hi I want to start a business of organic poultry . Firstly maintain a flock organically and get eggs and meat which market with own band as organic meat and eggs. Need a business plan for this
    Thanks

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