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How to Write a Business Plan: Step-by-Step Guide + Examples

Noah Parsons

24 min. read

Updated April 17, 2024

Writing a business plan doesn’t have to be complicated. 

In this step-by-step guide, you’ll learn how to write a business plan that’s detailed enough to impress bankers and potential investors, while giving you the tools to start, run, and grow a successful business.

• The basics of business planning

If you’re reading this guide, then you already know why you need a business plan . 

You understand that planning helps you: 

• Raise money
• Grow strategically
• Keep your business on the right track 

As you start to write your plan, it’s useful to zoom out and remember what a business plan is .

At its core, a business plan is an overview of the products and services you sell, and the customers that you sell to. It explains your business strategy: how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

Most business plans also include financial forecasts for the future. These set sales goals, budget for expenses, and predict profits and cash flow. 

A good business plan is much more than just a document that you write once and forget about. It’s also a guide that helps you outline and achieve your goals. 

After completing your plan, you can use it as a management tool to track your progress toward your goals. Updating and adjusting your forecasts and budgets as you go is one of the most important steps you can take to run a healthier, smarter business. 

We’ll dive into how to use your plan later in this article.

There are many different types of plans , but we’ll go over the most common type here, which includes everything you need for an investor-ready plan. However, if you’re just starting out and are looking for something simpler—I recommend starting with a one-page business plan . It’s faster and easier to create. 

It’s also the perfect place to start if you’re just figuring out your idea, or need a simple strategic plan to use inside your business.

Dig deeper : How to write a one-page business plan

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• What to include in your business plan

Executive summary

The executive summary is an overview of your business and your plans. It comes first in your plan and is ideally just one to two pages. Most people write it last because it’s a summary of the complete business plan.

Ideally, the executive summary can act as a stand-alone document that covers the highlights of your detailed plan. 

In fact, it’s common for investors to ask only for the executive summary when evaluating your business. If they like what they see in the executive summary, they’ll often follow up with a request for a complete plan, a pitch presentation , or more in-depth financial forecasts .

Your executive summary should include:

• A summary of the problem you are solving
• A description of your product or service
• An overview of your target market
• A brief description of your team
• A summary of your financials
• Your funding requirements (if you are raising money)

Dig Deeper: How to write an effective executive summary

Products and services description

This is where you describe exactly what you’re selling, and how it solves a problem for your target market. The best way to organize this part of your plan is to start by describing the problem that exists for your customers. After that, you can describe how you plan to solve that problem with your product or service. 

This is usually called a problem and solution statement .

To truly showcase the value of your products and services, you need to craft a compelling narrative around your offerings. How will your product or service transform your customers’ lives or jobs? A strong narrative will draw in your readers.

This is also the part of the business plan to discuss any competitive advantages you may have, like specific intellectual property or patents that protect your product. If you have any initial sales, contracts, or other evidence that your product or service is likely to sell, include that information as well. It will show that your idea has traction , which can help convince readers that your plan has a high chance of success.

Market analysis

Your target market is a description of the type of people that you plan to sell to. You might even have multiple target markets, depending on your business. 

A market analysis is the part of your plan where you bring together all of the information you know about your target market. Basically, it’s a thorough description of who your customers are and why they need what you’re selling. You’ll also include information about the growth of your market and your industry .

Try to be as specific as possible when you describe your market. 

Include information such as age, income level, and location—these are what’s called “demographics.” If you can, also describe your market’s interests and habits as they relate to your business—these are “psychographics.” 

Related: Target market examples

Essentially, you want to include any knowledge you have about your customers that is relevant to how your product or service is right for them. With a solid target market, it will be easier to create a sales and marketing plan that will reach your customers. That’s because you know who they are, what they like to do, and the best ways to reach them.

Next, provide any additional information you have about your market. 

What is the size of your market ? Is the market growing or shrinking? Ideally, you’ll want to demonstrate that your market is growing over time, and also explain how your business is positioned to take advantage of any expected changes in your industry.

Dig Deeper: Learn how to write a market analysis

Competitive analysis

Part of defining your business opportunity is determining what your competitive advantage is. To do this effectively, you need to know as much about your competitors as your target customers. 

Every business has some form of competition. If you don’t think you have competitors, then explore what alternatives there are in the market for your product or service. 

For example: In the early years of cars, their main competition was horses. For social media, the early competition was reading books, watching TV, and talking on the phone.

A good competitive analysis fully lays out the competitive landscape and then explains how your business is different. Maybe your products are better made, or cheaper, or your customer service is superior. Maybe your competitive advantage is your location – a wide variety of factors can ultimately give you an advantage.

Dig Deeper: How to write a competitive analysis for your business plan

Marketing and sales plan

The marketing and sales plan covers how you will position your product or service in the market, the marketing channels and messaging you will use, and your sales tactics. 

The best place to start with a marketing plan is with a positioning statement . 

This explains how your business fits into the overall market, and how you will explain the advantages of your product or service to customers. You’ll use the information from your competitive analysis to help you with your positioning. 

For example: You might position your company as the premium, most expensive but the highest quality option in the market. Or your positioning might focus on being locally owned and that shoppers support the local economy by buying your products.

Once you understand your positioning, you’ll bring this together with the information about your target market to create your marketing strategy . 

This is how you plan to communicate your message to potential customers. Depending on who your customers are and how they purchase products like yours, you might use many different strategies, from social media advertising to creating a podcast. Your marketing plan is all about how your customers discover who you are and why they should consider your products and services. 

While your marketing plan is about reaching your customers—your sales plan will describe the actual sales process once a customer has decided that they’re interested in what you have to offer. 

If your business requires salespeople and a long sales process, describe that in this section. If your customers can “self-serve” and just make purchases quickly on your website, describe that process. 

A good sales plan picks up where your marketing plan leaves off. The marketing plan brings customers in the door and the sales plan is how you close the deal.

Together, these specific plans paint a picture of how you will connect with your target audience, and how you will turn them into paying customers.

Dig deeper: What to include in your sales and marketing plan

Business operations

The operations section describes the necessary requirements for your business to run smoothly. It’s where you talk about how your business works and what day-to-day operations look like. 

Depending on how your business is structured, your operations plan may include elements of the business like:

• Supply chain management
• Manufacturing processes
• Equipment and technology
• Distribution

Some businesses distribute their products and reach their customers through large retailers like Amazon.com, Walmart, Target, and grocery store chains. 

These businesses should review how this part of their business works. The plan should discuss the logistics and costs of getting products onto store shelves and any potential hurdles the business may have to overcome.

If your business is much simpler than this, that’s OK. This section of your business plan can be either extremely short or more detailed, depending on the type of business you are building.

For businesses selling services, such as physical therapy or online software, you can use this section to describe the technology you’ll leverage, what goes into your service, and who you will partner with to deliver your services.

Dig Deeper: Learn how to write the operations chapter of your plan

Key milestones and metrics

Although it’s not required to complete your business plan, mapping out key business milestones and the metrics can be incredibly useful for measuring your success.

Good milestones clearly lay out the parameters of the task and set expectations for their execution. You’ll want to include:

• A description of each task
• The proposed due date
• Who is responsible for each task

If you have a budget, you can include projected costs to hit each milestone. You don’t need extensive project planning in this section—just list key milestones you want to hit and when you plan to hit them. This is your overall business roadmap. 

Possible milestones might be:

• Website launch date
• Store or office opening date
• First significant sales
• Break even date
• Business licenses and approvals

You should also discuss the key numbers you will track to determine your success. Some common metrics worth tracking include:

• Conversion rates
• Customer acquisition costs
• Profit per customer
• Repeat purchases

It’s perfectly fine to start with just a few metrics and grow the number you are tracking over time. You also may find that some metrics simply aren’t relevant to your business and can narrow down what you’re tracking.

Dig Deeper: How to use milestones in your business plan

Organization and management team

Investors don’t just look for great ideas—they want to find great teams. Use this chapter to describe your current team and who you need to hire . You should also provide a quick overview of your location and history if you’re already up and running.

Briefly highlight the relevant experiences of each key team member in the company. It’s important to make the case for why yours is the right team to turn an idea into a reality. 

Do they have the right industry experience and background? Have members of the team had entrepreneurial successes before? 

If you still need to hire key team members, that’s OK. Just note those gaps in this section.

Your company overview should also include a summary of your company’s current business structure . The most common business structures include:

• Sole proprietor
• Partnership

Be sure to provide an overview of how the business is owned as well. Does each business partner own an equal portion of the business? How is ownership divided? 

Potential lenders and investors will want to know the structure of the business before they will consider a loan or investment.

Dig Deeper: How to write about your company structure and team

Financial plan

Last, but certainly not least, is your financial plan chapter. 

Entrepreneurs often find this section the most daunting. But, business financials for most startups are less complicated than you think, and a business degree is certainly not required to build a solid financial forecast. 

A typical financial forecast in a business plan includes the following:

• Sales forecast : An estimate of the sales expected over a given period. You’ll break down your forecast into the key revenue streams that you expect to have.
• Expense budget : Your planned spending such as personnel costs , marketing expenses, and taxes.
• Profit & Loss : Brings together your sales and expenses and helps you calculate planned profits.
• Cash Flow : Shows how cash moves into and out of your business. It can predict how much cash you’ll have on hand at any given point in the future.
• Balance Sheet : A list of the assets, liabilities, and equity in your company. In short, it provides an overview of the financial health of your business. 

A strong business plan will include a description of assumptions about the future, and potential risks that could impact the financial plan. Including those will be especially important if you’re writing a business plan to pursue a loan or other investment.

Dig Deeper: How to create financial forecasts and budgets

This is the place for additional data, charts, or other information that supports your plan.

Including an appendix can significantly enhance the credibility of your plan by showing readers that you’ve thoroughly considered the details of your business idea, and are backing your ideas up with solid data.

Just remember that the information in the appendix is meant to be supplementary. Your business plan should stand on its own, even if the reader skips this section.

Dig Deeper : What to include in your business plan appendix

Optional: Business plan cover page

Adding a business plan cover page can make your plan, and by extension your business, seem more professional in the eyes of potential investors, lenders, and partners. It serves as the introduction to your document and provides necessary contact information for stakeholders to reference.

Your cover page should be simple and include:

• Company logo
• Business name
• Value proposition (optional)
• Business plan title
• Completion and/or update date
• Address and contact information
• Confidentiality statement

Just remember, the cover page is optional. If you decide to include it, keep it very simple and only spend a short amount of time putting it together.

Dig Deeper: How to create a business plan cover page

How to use AI to help write your business plan

Generative AI tools such as ChatGPT can speed up the business plan writing process and help you think through concepts like market segmentation and competition. These tools are especially useful for taking ideas that you provide and converting them into polished text for your business plan.

The best way to use AI for your business plan is to leverage it as a collaborator , not a replacement for human creative thinking and ingenuity. 

AI can come up with lots of ideas and act as a brainstorming partner. It’s up to you to filter through those ideas and figure out which ones are realistic enough to resonate with your customers. 

There are pros and cons of using AI to help with your business plan . So, spend some time understanding how it can be most helpful before just outsourcing the job to AI.

Learn more: 10 AI prompts you need to write a business plan

• Writing tips and strategies

To help streamline the business plan writing process, here are a few tips and key questions to answer to make sure you get the most out of your plan and avoid common mistakes .  

Determine why you are writing a business plan

Knowing why you are writing a business plan will determine your approach to your planning project. 

For example: If you are writing a business plan for yourself, or just to use inside your own business , you can probably skip the section about your team and organizational structure. 

If you’re raising money, you’ll want to spend more time explaining why you’re looking to raise the funds and exactly how you will use them.

Regardless of how you intend to use your business plan , think about why you are writing and what you’re trying to get out of the process before you begin.

Keep things concise

Probably the most important tip is to keep your business plan short and simple. There are no prizes for long business plans . The longer your plan is, the less likely people are to read it. 

So focus on trimming things down to the essentials your readers need to know. Skip the extended, wordy descriptions and instead focus on creating a plan that is easy to read —using bullets and short sentences whenever possible.

Have someone review your business plan

Writing a business plan in a vacuum is never a good idea. Sometimes it’s helpful to zoom out and check if your plan makes sense to someone else. You also want to make sure that it’s easy to read and understand.

Don’t wait until your plan is “done” to get a second look. Start sharing your plan early, and find out from readers what questions your plan leaves unanswered. This early review cycle will help you spot shortcomings in your plan and address them quickly, rather than finding out about them right before you present your plan to a lender or investor.

If you need a more detailed review, you may want to explore hiring a professional plan writer to thoroughly examine it.

Use a free business plan template and business plan examples to get started

Knowing what information to include in a business plan is sometimes not quite enough. If you’re struggling to get started or need additional guidance, it may be worth using a business plan template. 

There are plenty of great options available (we’ve rounded up our 8 favorites to streamline your search).

But, if you’re looking for a free downloadable business plan template , you can get one right now; download the template used by more than 1 million businesses. 

Or, if you just want to see what a completed business plan looks like, check out our library of over 550 free business plan examples . 

We even have a growing list of industry business planning guides with tips for what to focus on depending on your business type.

Common pitfalls and how to avoid them

It’s easy to make mistakes when you’re writing your business plan. Some entrepreneurs get sucked into the writing and research process, and don’t focus enough on actually getting their business started. 

Here are a few common mistakes and how to avoid them:

Not talking to your customers : This is one of the most common mistakes. It’s easy to assume that your product or service is something that people want. Before you invest too much in your business and too much in the planning process, make sure you talk to your prospective customers and have a good understanding of their needs.

• Overly optimistic sales and profit forecasts: By nature, entrepreneurs are optimistic about the future. But it’s good to temper that optimism a little when you’re planning, and make sure your forecasts are grounded in reality. 
• Spending too much time planning: Yes, planning is crucial. But you also need to get out and talk to customers, build prototypes of your product and figure out if there’s a market for your idea. Make sure to balance planning with building.
• Not revising the plan: Planning is useful, but nothing ever goes exactly as planned. As you learn more about what’s working and what’s not—revise your plan, your budgets, and your revenue forecast. Doing so will provide a more realistic picture of where your business is going, and what your financial needs will be moving forward.
• Not using the plan to manage your business: A good business plan is a management tool. Don’t just write it and put it on the shelf to collect dust – use it to track your progress and help you reach your goals.
• Presenting your business plan

The planning process forces you to think through every aspect of your business and answer questions that you may not have thought of. That’s the real benefit of writing a business plan – the knowledge you gain about your business that you may not have been able to discover otherwise.

With all of this knowledge, you’re well prepared to convert your business plan into a pitch presentation to present your ideas. 

A pitch presentation is a summary of your plan, just hitting the highlights and key points. It’s the best way to present your business plan to investors and team members.

Dig Deeper: Learn what key slides should be included in your pitch deck

Use your business plan to manage your business

One of the biggest benefits of planning is that it gives you a tool to manage your business better. With a revenue forecast, expense budget, and projected cash flow, you know your targets and where you are headed.

And yet, nothing ever goes exactly as planned – it’s the nature of business.

That’s where using your plan as a management tool comes in. The key to leveraging it for your business is to review it periodically and compare your forecasts and projections to your actual results.

Start by setting up a regular time to review the plan – a monthly review is a good starting point. During this review, answer questions like:

• Did you meet your sales goals?
• Is spending following your budget?
• Has anything gone differently than what you expected?

Now that you see whether you’re meeting your goals or are off track, you can make adjustments and set new targets. 

Maybe you’re exceeding your sales goals and should set new, more aggressive goals. In that case, maybe you should also explore more spending or hiring more employees. 

Or maybe expenses are rising faster than you projected. If that’s the case, you would need to look at where you can cut costs.

A plan, and a method for comparing your plan to your actual results , is the tool you need to steer your business toward success.

Learn More: How to run a regular plan review

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How to write a business plan FAQ

What is a business plan?

A document that describes your business , the products and services you sell, and the customers that you sell to. It explains your business strategy, how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

What are the benefits of a business plan?

A business plan helps you understand where you want to go with your business and what it will take to get there. It reduces your overall risk, helps you uncover your business’s potential, attracts investors, and identifies areas for growth.

Having a business plan ultimately makes you more confident as a business owner and more likely to succeed for a longer period of time.

What are the 7 steps of a business plan?

The seven steps to writing a business plan include:

• Write a brief executive summary
• Describe your products and services.
• Conduct market research and compile data into a cohesive market analysis.
• Describe your marketing and sales strategy.
• Outline your organizational structure and management team.
• Develop financial projections for sales, revenue, and cash flow.
• Add any additional documents to your appendix.

What are the 5 most common business plan mistakes?

There are plenty of mistakes that can be made when writing a business plan. However, these are the 5 most common that you should do your best to avoid:

• 1. Not taking the planning process seriously.
• Having unrealistic financial projections or incomplete financial information.
• Inconsistent information or simple mistakes.
• Failing to establish a sound business model.
• Not having a defined purpose for your business plan.

What questions should be answered in a business plan?

Writing a business plan is all about asking yourself questions about your business and being able to answer them through the planning process. You’ll likely be asking dozens and dozens of questions for each section of your plan.

However, these are the key questions you should ask and answer with your business plan:

• How will your business make money?
• Is there a need for your product or service?
• Who are your customers?
• How are you different from the competition?
• How will you reach your customers?
• How will you measure success?

How long should a business plan be?

The length of your business plan fully depends on what you intend to do with it. From the SBA and traditional lender point of view, a business plan needs to be whatever length necessary to fully explain your business. This means that you prove the viability of your business, show that you understand the market, and have a detailed strategy in place.

If you intend to use your business plan for internal management purposes, you don’t necessarily need a full 25-50 page business plan. Instead, you can start with a one-page plan to get all of the necessary information in place.

What are the different types of business plans?

While all business plans cover similar categories, the style and function fully depend on how you intend to use your plan. Here are a few common business plan types worth considering.

Traditional business plan: The tried-and-true traditional business plan is a formal document meant to be used when applying for funding or pitching to investors. This type of business plan follows the outline above and can be anywhere from 10-50 pages depending on the amount of detail included, the complexity of your business, and what you include in your appendix.

Business model canvas: The business model canvas is a one-page template designed to demystify the business planning process. It removes the need for a traditional, copy-heavy business plan, in favor of a single-page outline that can help you and outside parties better explore your business idea.

One-page business plan: This format is a simplified version of the traditional plan that focuses on the core aspects of your business. You’ll typically stick with bullet points and single sentences. It’s most useful for those exploring ideas, needing to validate their business model, or who need an internal plan to help them run and manage their business.

Lean Plan: The Lean Plan is less of a specific document type and more of a methodology. It takes the simplicity and styling of the one-page business plan and turns it into a process for you to continuously plan, test, review, refine, and take action based on performance. It’s faster, keeps your plan concise, and ensures that your plan is always up-to-date.

What’s the difference between a business plan and a strategic plan?

A business plan covers the “who” and “what” of your business. It explains what your business is doing right now and how it functions. The strategic plan explores long-term goals and explains “how” the business will get there. It encourages you to look more intently toward the future and how you will achieve your vision.

However, when approached correctly, your business plan can actually function as a strategic plan as well. If kept lean, you can define your business, outline strategic steps, and track ongoing operations all with a single plan.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Noah is the COO at Palo Alto Software, makers of the online business plan app LivePlan. He started his career at Yahoo! and then helped start the user review site Epinions.com. From there he started a software distribution business in the UK before coming to Palo Alto Software to run the marketing and product teams.

Table of Contents

• Use AI to help write your plan
• Common planning mistakes
• Manage with your business plan
• Templates and examples

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Reviewed by Kevin Heupel, Affiliate Faculty, Metropolitan State University of Denver on 3/4/20

The text does a good job of providing a general outline about writing and developing a written business plan. All of the important steps and components are included. However, the text is light on details, examples, and rationale for each element... read more

Comprehensiveness rating: 3 see less

The text does a good job of providing a general outline about writing and developing a written business plan. All of the important steps and components are included. However, the text is light on details, examples, and rationale for each element of the business plan. Some examples from actual business plans would be helpful.

Content Accuracy rating: 4

For the most part, the content is accurate. The content covers all important aspects of drafting a business plan. I thought the industry analysis could use more information about collecting primary and secondary sources; instead, this information was referenced in the marketing plan section.

Relevance/Longevity rating: 5

Most of the content relies on cites as far back as 2006; however, when it comes to developing and writing a business plan nothing has changed. Thus, the content is current and there is no concern about it becoming obsolete in the near future.

Clarity rating: 4

The text is clear. There are no difficult terms used and the writing is simple. The text uses a lot of bullet points though, which gets tedious to read for a few pages.

Consistency rating: 5

The text does a good job of maintaining consistency in terms of framework and terminology. The text is organized where it's easy to find the information you want in a quick manner.

Modularity rating: 3

The text has a lot of bullet points and the paragraphs are dense. However, the use of subheading is excellent.

Organization/Structure/Flow rating: 5

The book is organized as if you're writing a business plan from start to finish, which is helpful as a practical guide.

Interface rating: 5

There are no navigation problems, distortion of images/charts, or any other display features that may distract or confuse the reader.

Grammatical Errors rating: 5

The text is free of grammatical errors. The sentence structure is simple with many bullet points, which helps to avoid any grammatical issues.

Cultural Relevance rating: 5

This book was written by a Canadian professor and provides references to Canadian sources. However, the information in this text can be used for U.S. schools.

This book is very short and provides a good, general overview about the process of creating and writing a business plan. It won't help a reader if he/she is confused about a certain part of the business plan. The reader will have to find another source, such as "Preparing Effective Business Plans" by Bruce Barringer, Ph.D. The book provides links to good resources and a finished business plan that the reader can reference. I would recommend the book for undergraduate courses.

Reviewed by Kenneth Lacho, Professor of Management, The University of New Orleans on 6/19/18

1. Text is relevant to Canada. Not the United States 2. Needs to cover resources available to entrepreneur, e.g., federal government agencies, trade associations, chambers of commerce, economic development agencies. 3. Discuss local economy or... read more

1. Text is relevant to Canada. Not the United States 2. Needs to cover resources available to entrepreneur, e.g., federal government agencies, trade associations, chambers of commerce, economic development agencies. 3. Discuss local economy or economic area relevant to this proposed business. 4. Business model ok as a guide. 5. Suggested mission statement to cover: product/business, target customer, geographical area covered. 6. Need detailed promotion plan, e.g., personal selling, advertising, sales promotion, networking publicity, and social media. 7. How do you find the target market? 8. Chapter 6 too much detail on debt and equity financing. 9. Discuss how to find sources of financing, e.g., angels. 10. Expand coverage of bootstring, crowdfunding. 11. Chapter 4 – good checklist. 12. Chapter 3 - overlaps. 13. Chapter 7 – 3 pages of executive summary – double or single spaced typing. Number all tables, graphs. 14. Some references out-of-date, mostly academic. Bring in trade magazines such as Entrepreneur.

Content Accuracy rating: 5

In my opinion, the content is accurate and error free.

Relevance/Longevity rating: 4

The material is relevant to writing a business plan. I wonder if the Porter, SWOT VRIO, etc. material is too high level for students who may not be seniors or have non-business degrees (e.g., liberal arts). Porter has been around for a while and does have longevity. The author has to be more alert to changes in promotion, e.g., social media and sources of financing, e.g., crowdfunding.

Clarity rating: 3

As noted in No. 9, the tone of the writing is too academic, thus making the material difficult to understand. Paragraphs are too long. Need to define: Porter, TOWS Matrix, VRIO, PESTEL. A student less from a senior or a non-business major would not be familiar with these terms.

Consistency rating: 4

The text is internally consistent. The model approach helps keep the process consistent.

Modularity rating: 4

The process of developing a business plan is divided into blocks which are parts of the business plan. Paragraphs tend to be too long in some spots.

Organization/Structure/Flow rating: 4

The topics are presented in a logical step-wise flow. The language style is too academic in parts, paragraphs too long. Leaves out the citations. Provides excellent check lists.

There are no display features which confuse the reader.

Grammatical Errors rating: 4

The text has no grammatical errors. On the other hand, I found the writing to be too academic in nature. Some paragraphs are too long. The material is more like an academic conference paper or journal submission. Academic citations references are not needed. The material is not exciting to read.

The text is culturally neutral. There are no examples which are inclusive of a variety of races, ethnicities, and backgrounds.

This book best for a graduate class.

Reviewed by Louis Bruneau, Part Time Faculty, Portland Community College on 6/19/18

The text provides appropriate discussion and illustration of all major concepts and useful references to source and resource materials. read more

Comprehensiveness rating: 5 see less

The text provides appropriate discussion and illustration of all major concepts and useful references to source and resource materials.

Contents of the book were accurate, although it could have benefited from editing/proofreading; there was no evidence of bias. As to editing/proofreading, a couple of examples: A. “Figure 1 – Business Plan… “ is shown at the top of the page following the diagram vs. the bottom of the page the diagram is on. (There are other problems with what is placed on each page.) B. First paragraph under heading “Essential Initial Research” there is reference to pages 21 to 30 though page numbering is missing from the book. (Page numbers are used in the Table of Contents.)

The book is current in that business planning has been stable for sometime. The references and resources will age in time, but are limited and look easy to update.

Clarity rating: 5

The book is written in a straightforward way, technical terms that needed explanations got them, jargon was avoided and generally it was an easy read.

The text is internally consistent in terms of terminology and framework.

Modularity rating: 5

The book lends itself to a multi-week course. A chapter could be presented and students could work on that stage of Plan development. It could also be pre-meeting reading for a workshop presentation. Reorganizing the book would be inappropriate.

The topics in the text are presented in a logical, clear fashion.

Generally, the book is free of interface problems. The financial tables in the Sample Plan were turned 90° to maintain legibility. One potential problem was with Figure 6 – Business Model Canvas. The print within the cells was too small to read; the author mitigated the problem by presenting the information, following Figure 6, in the type font of the text.

I found no grammatical errors.

The text is not culturally insensitive or offensive in any way.

I require a business plan in a course I teach; for most of the students the assignment is a course project that they do not intend to pursue in real life. I shared the book with five students that intended to develop an actual start-up business; three of them found it helpful while the other two decided not to do that much work on their plans. If I were planning a start-up, I would use/follow the book.

Reviewed by Todd Johnson, Faculty of Business, North Hennepin Community College on 5/21/18

The text is a thorough overview of all elements of a business plan. read more

Comprehensiveness rating: 4 see less

The text is a thorough overview of all elements of a business plan.

The content is accurate and seems to lack bias.

Content seems relevant and useful . It does not help an entrepreneur generate ideas, and is very light on crowdfunding and other novel funding source content. It is more traditional. This can be easily updated in future versions, however. "Social Media" appears once in the book, as does "Crowd Funding".

The book is comprehensive, but perhaps not written in the most lucid, accessible prose. I am not sure any college student could pick this up and just read and learn. It would be best used as a "teach along guide" for students to process with an instructor.

The text seems consistent. The author does a nice job of consistently staying on task and using bullets and brevity.

Here I am not so certain. The table of contents is not a good guide for this book. It does make the book look nicely laid out, but there is a lot of complexity within these sections. I read it uncertain that it was well organized. Yes there are many good bits of information, however it is not as if I could spend time on one swathe of text at a time. I would need to go back and forth throughout the text.

Organization/Structure/Flow rating: 2

Similar to the above. I did not like the flow and organization of this. An editor would help things be in a more logical order.

Interface rating: 2

The interface is just OK. It is not an attractice interface, as it presents text in a very dense manner. The images and charts are hard to follow.

I did not find any grammatical errors.

Cultural Relevance rating: 4

I a not certain of the origins of Saskatchewan, but I do feel this is a different read. It is more formal and dense than it has to be. This would be a difficult read for my students. I do not feel it is insensitive in any way, or offensive in any way.

I would not adopt this book if given the chance. It is too dense, and not organized very well, even though the information is very good. The density and lack of modularity are barriers to understanding what is obviously very good information.

Reviewed by Mariana Mitova, Lecturer, Bowling Green State University on 2/1/18

Though this textbook has a prescriptive nature, it is quite comprehensive. The author strikes a good balance between presenting concepts in a concise way and providing enough information to explain them. Many every-day examples and live links to... read more

Though this textbook has a prescriptive nature, it is quite comprehensive. The author strikes a good balance between presenting concepts in a concise way and providing enough information to explain them. Many every-day examples and live links to other resources add to the completeness of the textbook.

Content seems accurate.

Since the content is somewhat conceptual, the text will not become obsolete quickly. In addition, the author seems to be updating and editing content often hence the relevance to current developments is on target.

The text is very clear, written in clear and straight-to-the point language.

The organization of content is consistent throughout the entire text.

The textbook is organized by chapters, beginning with overview of the model used and followed by chapters for each concept within the model. Nicely done.

The flow is clear, logical and easy to follow.

Overall, images, links, and text are well organized. Some headlines were misaligned but still easy to follow.

No concerns for grammar.

No concerns for cultural irrelevance.

Reviewed by Darlene Weibye, Cosmetology Instructor, Minnesota State Community and Technical College on 2/1/18

The text is comprehensive and covers the information needed to develop a business plan. The book provides all the means necessary in business planning. read more

The text is comprehensive and covers the information needed to develop a business plan. The book provides all the means necessary in business planning.

The text was accurate, and error-free. I did not find the book to be biased.

The content is up-to-date. I am reviewing the book in 2017, the same year the book was published.

The content was very clear. A business plan sample included operation timelines, start up costs, and all relevant material in starting a business.

The book is very consistent and is well organized.

The book has a table of contents and is broken down into specific chapters. The chapters are not divided into sub topics. I do not feel it is necessary for sub topics because the chapters are brief and to the point.

There is a great flow from chapter to chapter. One topic clearly leads into the next without repeating.

The table of contents has direct links to each chapter. The appearance of the chapters are easy to read and the charts are very beneficial.

Does not appear to have any grammatical errors.

The text is not culturally insensitive or offensive.

I am incorporating some of the text into the salon business course. Very well written book.

Table of Contents

Introduction

• Chapter 1 – Developing a Business Plan
• Chapter 2 – Essential Initial Research
• Chapter 3 – Business Models
• Chapter 4 – Initial Business Plan Draft
• Chapter 5 – Making the Business Plan Realistic
• Chapter 6 – Making the Plan Appeal to Stakeholders and Desirable to the Entrepreneur
• Chapter 7 – Finishing the Business Plan
• Chapter 8 – Business Plan Pitches

References Appendix A – Business Plan Development Checklist and Project Planner Appendix B – Fashion Importers Inc. Business Plan Business Plan Excel Template

Ancillary Material

About the book.

This textbook and its accompanying spreadsheet templates were designed with and for students wanting a practical and easy-to-follow guide for developing a business plan. It follows a unique format that both explains what to do and demonstrates how to do it.

About the Contributors

Dr. Lee Swanson is an Associate Professor of Management and Marketing at the Edwards School of Business at the University of Saskatchewan. His research focuses on entrepreneurship, social entrepreneurship, Aboriginal entrepreneurship, community capacity-building through entrepreneurship, and institutional-stakeholder engagement. Dr. Swanson’s current research is funded through a Social Sciences Humanities Research Council grant and focuses on social and economic capacity building in Northern Saskatchewan and Northern Scandinavia. He is also actively studying Aboriginal community partnerships with resource based companies, entrepreneurship centres at universities, community-based entrepreneurship, and entrepreneurial attitudes and intentions. He teaches upper-year and MBA entrepreneurship classes and conducts seminars on business planning and business development.

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Small Business Trends

How to create a business plan: examples & free template.

This is the ultimate guide to creating a comprehensive and effective plan to start a business . In today’s dynamic business landscape, having a well-crafted business plan is an important first step to securing funding, attracting partners, and navigating the challenges of entrepreneurship.

This guide has been designed to help you create a winning plan that stands out in the ever-evolving marketplace. U sing real-world examples and a free downloadable template, it will walk you through each step of the process.

Whether you’re a seasoned entrepreneur or launching your very first startup, the guide will give you the insights, tools, and confidence you need to create a solid foundation for your business.

Table of Contents

How to Write a Business Plan

Embarking on the journey of creating a successful business requires a solid foundation, and a well-crafted business plan is the cornerstone. Here is the process of writing a comprehensive business plan and the main parts of a winning business plan . From setting objectives to conducting market research, this guide will have everything you need.

Executive Summary

The Executive Summary serves as the gateway to your business plan, offering a snapshot of your venture’s core aspects. This section should captivate and inform, succinctly summarizing the essence of your plan.

It’s crucial to include a clear mission statement, a brief description of your primary products or services, an overview of your target market, and key financial projections or achievements.

Think of it as an elevator pitch in written form: it should be compelling enough to engage potential investors or stakeholders and provide them with a clear understanding of what your business is about, its goals, and why it’s a promising investment.

Example: EcoTech is a technology company specializing in eco-friendly and sustainable products designed to reduce energy consumption and minimize waste. Our mission is to create innovative solutions that contribute to a cleaner, greener environment.

Our target market includes environmentally conscious consumers and businesses seeking to reduce their carbon footprint. We project a 200% increase in revenue within the first three years of operation.

Overview and Business Objectives

In the Overview and Business Objectives section, outline your business’s core goals and the strategic approaches you plan to use to achieve them. This section should set forth clear, specific objectives that are attainable and time-bound, providing a roadmap for your business’s growth and success.

It’s important to detail how these objectives align with your company’s overall mission and vision. Discuss the milestones you aim to achieve and the timeframe you’ve set for these accomplishments.

This part of the plan demonstrates to investors and stakeholders your vision for growth and the practical steps you’ll take to get there.

Example: EcoTech’s primary objective is to become a market leader in sustainable technology products within the next five years. Our key objectives include:

• Introducing three new products within the first two years of operation.
• Achieving annual revenue growth of 30%.
• Expanding our customer base to over 10,000 clients by the end of the third year.

Company Description

The Company Description section is your opportunity to delve into the details of your business. Provide a comprehensive overview that includes your company’s history, its mission statement, and its vision for the future.

Highlight your unique selling proposition (USP) – what makes your business stand out in the market. Explain the problems your company solves and how it benefits your customers.

Include information about the company’s founders, their expertise, and why they are suited to lead the business to success. This section should paint a vivid picture of your business, its values, and its place in the industry.

Example: EcoTech is committed to developing cutting-edge sustainable technology products that benefit both the environment and our customers. Our unique combination of innovative solutions and eco-friendly design sets us apart from the competition. We envision a future where technology and sustainability go hand in hand, leading to a greener planet.

Define Your Target Market

Defining Your Target Market is critical for tailoring your business strategy effectively. This section should describe your ideal customer base in detail, including demographic information (such as age, gender, income level, and location) and psychographic data (like interests, values, and lifestyle).

Elucidate on the specific needs or pain points of your target audience and how your product or service addresses these. This information will help you know your target market and develop targeted marketing strategies.

Example: Our target market comprises environmentally conscious consumers and businesses looking for innovative solutions to reduce their carbon footprint. Our ideal customers are those who prioritize sustainability and are willing to invest in eco-friendly products.

Market Analysis

The Market Analysis section requires thorough research and a keen understanding of the industry. It involves examining the current trends within your industry, understanding the needs and preferences of your customers, and analyzing the strengths and weaknesses of your competitors.

This analysis will enable you to spot market opportunities and anticipate potential challenges. Include data and statistics to back up your claims, and use graphs or charts to illustrate market trends.

This section should demonstrate that you have a deep understanding of the market in which you operate and that your business is well-positioned to capitalize on its opportunities.

Example: The market for eco-friendly technology products has experienced significant growth in recent years, with an estimated annual growth rate of 10%. As consumers become increasingly aware of environmental issues, the demand for sustainable solutions continues to rise.

Our research indicates a gap in the market for high-quality, innovative eco-friendly technology products that cater to both individual and business clients.

SWOT Analysis

A SWOT analysis in your business plan offers a comprehensive examination of your company’s internal and external factors. By assessing Strengths, you showcase what your business does best and where your capabilities lie.

Weaknesses involve an honest introspection of areas where your business may be lacking or could improve. Opportunities can be external factors that your business could capitalize on, such as market gaps or emerging trends.

Threats include external challenges your business may face, like competition or market changes. This analysis is crucial for strategic planning, as it helps in recognizing and leveraging your strengths, addressing weaknesses, seizing opportunities, and preparing for potential threats.

Including a SWOT analysis demonstrates to stakeholders that you have a balanced and realistic understanding of your business in its operational context.

• Innovative and eco-friendly product offerings.
• Strong commitment to sustainability and environmental responsibility.
• Skilled and experienced team with expertise in technology and sustainability.

Weaknesses:

• Limited brand recognition compared to established competitors.
• Reliance on third-party manufacturers for product development.

Opportunities:

• Growing consumer interest in sustainable products.
• Partnerships with environmentally-focused organizations and influencers.
• Expansion into international markets.
• Intense competition from established technology companies.
• Regulatory changes could impact the sustainable technology market.

Competitive Analysis

In this section, you’ll analyze your competitors in-depth, examining their products, services, market positioning, and pricing strategies. Understanding your competition allows you to identify gaps in the market and tailor your offerings to outperform them.

By conducting a thorough competitive analysis, you can gain insights into your competitors’ strengths and weaknesses, enabling you to develop strategies to differentiate your business and gain a competitive advantage in the marketplace.

Example: Key competitors include:

GreenTech: A well-known brand offering eco-friendly technology products, but with a narrower focus on energy-saving devices.

EarthSolutions: A direct competitor specializing in sustainable technology, but with a limited product range and higher prices.

By offering a diverse product portfolio, competitive pricing, and continuous innovation, we believe we can capture a significant share of the growing sustainable technology market.

Organization and Management Team

Provide an overview of your company’s organizational structure, including key roles and responsibilities. Introduce your management team, highlighting their expertise and experience to demonstrate that your team is capable of executing the business plan successfully.

Showcasing your team’s background, skills, and accomplishments instills confidence in investors and other stakeholders, proving that your business has the leadership and talent necessary to achieve its objectives and manage growth effectively.

Example: EcoTech’s organizational structure comprises the following key roles: CEO, CTO, CFO, Sales Director, Marketing Director, and R&D Manager. Our management team has extensive experience in technology, sustainability, and business development, ensuring that we are well-equipped to execute our business plan successfully.

Products and Services Offered

Describe the products or services your business offers, focusing on their unique features and benefits. Explain how your offerings solve customer pain points and why they will choose your products or services over the competition.

This section should emphasize the value you provide to customers, demonstrating that your business has a deep understanding of customer needs and is well-positioned to deliver innovative solutions that address those needs and set your company apart from competitors.

Example: EcoTech offers a range of eco-friendly technology products, including energy-efficient lighting solutions, solar chargers, and smart home devices that optimize energy usage. Our products are designed to help customers reduce energy consumption, minimize waste, and contribute to a cleaner environment.

Marketing and Sales Strategy

In this section, articulate your comprehensive strategy for reaching your target market and driving sales. Detail the specific marketing channels you plan to use, such as social media, email marketing, SEO, or traditional advertising.

Describe the nature of your advertising campaigns and promotional activities, explaining how they will capture the attention of your target audience and convey the value of your products or services. Outline your sales strategy, including your sales process, team structure, and sales targets.

Discuss how these marketing and sales efforts will work together to attract and retain customers, generate leads, and ultimately contribute to achieving your business’s revenue goals.

This section is critical to convey to investors and stakeholders that you have a well-thought-out approach to market your business effectively and drive sales growth.

Example: Our marketing strategy includes digital advertising, content marketing, social media promotion, and influencer partnerships. We will also attend trade shows and conferences to showcase our products and connect with potential clients. Our sales strategy involves both direct sales and partnerships with retail stores, as well as online sales through our website and e-commerce platforms.

Logistics and Operations Plan

The Logistics and Operations Plan is a critical component that outlines the inner workings of your business. It encompasses the management of your supply chain, detailing how you acquire raw materials and manage vendor relationships.

Inventory control is another crucial aspect, where you explain strategies for inventory management to ensure efficiency and reduce wastage. The section should also describe your production processes, emphasizing scalability and adaptability to meet changing market demands.

Quality control measures are essential to maintain product standards and customer satisfaction. This plan assures investors and stakeholders of your operational competency and readiness to meet business demands.

Highlighting your commitment to operational efficiency and customer satisfaction underlines your business’s capability to maintain smooth, effective operations even as it scales.

Example: EcoTech partners with reliable third-party manufacturers to produce our eco-friendly technology products. Our operations involve maintaining strong relationships with suppliers, ensuring quality control, and managing inventory.

We also prioritize efficient distribution through various channels, including online platforms and retail partners, to deliver products to our customers in a timely manner.

Financial Projections Plan

In the Financial Projections Plan, lay out a clear and realistic financial future for your business. This should include detailed projections for revenue, costs, and profitability over the next three to five years.

Ground these projections in solid assumptions based on your market analysis, industry benchmarks, and realistic growth scenarios. Break down revenue streams and include an analysis of the cost of goods sold, operating expenses, and potential investments.

This section should also discuss your break-even analysis, cash flow projections, and any assumptions about external funding requirements.

By presenting a thorough and data-backed financial forecast, you instill confidence in potential investors and lenders, showcasing your business’s potential for profitability and financial stability.

This forward-looking financial plan is crucial for demonstrating that you have a firm grasp of the financial nuances of your business and are prepared to manage its financial health effectively.

Example: Over the next three years, we expect to see significant growth in revenue, driven by new product launches and market expansion. Our financial projections include:

• Year 1: $1.5 million in revenue, with a net profit of $200,000.
• Year 2: $3 million in revenue, with a net profit of $500,000.
• Year 3: $4.5 million in revenue, with a net profit of $1 million.

These projections are based on realistic market analysis, growth rates, and product pricing.

Income Statement

The income statement , also known as the profit and loss statement, provides a summary of your company’s revenues and expenses over a specified period. It helps you track your business’s financial performance and identify trends, ensuring you stay on track to achieve your financial goals.

Regularly reviewing and analyzing your income statement allows you to monitor the health of your business, evaluate the effectiveness of your strategies, and make data-driven decisions to optimize profitability and growth.

Example: The income statement for EcoTech’s first year of operation is as follows:

• Revenue: $1,500,000
• Cost of Goods Sold: $800,000
• Gross Profit: $700,000
• Operating Expenses: $450,000
• Net Income: $250,000

This statement highlights our company’s profitability and overall financial health during the first year of operation.

Cash Flow Statement

A cash flow statement is a crucial part of a financial business plan that shows the inflows and outflows of cash within your business. It helps you monitor your company’s liquidity, ensuring you have enough cash on hand to cover operating expenses, pay debts, and invest in growth opportunities.

By including a cash flow statement in your business plan, you demonstrate your ability to manage your company’s finances effectively.

Example:  The cash flow statement for EcoTech’s first year of operation is as follows:

Operating Activities:

• Depreciation: $10,000
• Changes in Working Capital: -$50,000
• Net Cash from Operating Activities: $210,000

Investing Activities:

•  Capital Expenditures: -$100,000
• Net Cash from Investing Activities: -$100,000

Financing Activities:

• Proceeds from Loans: $150,000
• Loan Repayments: -$50,000
• Net Cash from Financing Activities: $100,000
• Net Increase in Cash: $210,000

This statement demonstrates EcoTech’s ability to generate positive cash flow from operations, maintain sufficient liquidity, and invest in growth opportunities.

Tips on Writing a Business Plan

1. Be clear and concise: Keep your language simple and straightforward. Avoid jargon and overly technical terms. A clear and concise business plan is easier for investors and stakeholders to understand and demonstrates your ability to communicate effectively.

2. Conduct thorough research: Before writing your business plan, gather as much information as possible about your industry, competitors, and target market. Use reliable sources and industry reports to inform your analysis and make data-driven decisions.

3. Set realistic goals: Your business plan should outline achievable objectives that are specific, measurable, attainable, relevant, and time-bound (SMART). Setting realistic goals demonstrates your understanding of the market and increases the likelihood of success.

4. Focus on your unique selling proposition (USP): Clearly articulate what sets your business apart from the competition. Emphasize your USP throughout your business plan to showcase your company’s value and potential for success.

5. Be flexible and adaptable: A business plan is a living document that should evolve as your business grows and changes. Be prepared to update and revise your plan as you gather new information and learn from your experiences.

6. Use visuals to enhance understanding: Include charts, graphs, and other visuals to help convey complex data and ideas. Visuals can make your business plan more engaging and easier to digest, especially for those who prefer visual learning.

7. Seek feedback from trusted sources: Share your business plan with mentors, industry experts, or colleagues and ask for their feedback. Their insights can help you identify areas for improvement and strengthen your plan before presenting it to potential investors or partners.

FREE Business Plan Template

To help you get started on your business plan, we have created a template that includes all the essential components discussed in the “How to Write a Business Plan” section. This easy-to-use template will guide you through each step of the process, ensuring you don’t miss any critical details.

The template is divided into the following sections:

• Mission statement
• Business Overview
• Key products or services
• Target market
• Financial highlights
• Company goals
• Strategies to achieve goals
• Measurable, time-bound objectives
• Company History
• Mission and vision
• Unique selling proposition
• Demographics
• Psychographics
• Pain points
• Industry trends
• Customer needs
• Competitor strengths and weaknesses
• Opportunities
• Competitor products and services
• Market positioning
• Pricing strategies
• Organizational structure
• Key roles and responsibilities
• Management team backgrounds
• Product or service features
• Competitive advantages
• Marketing channels
• Advertising campaigns
• Promotional activities
• Sales strategies
• Supply chain management
• Inventory control
• Production processes
• Quality control measures
• Projected revenue
• Assumptions
• Cash inflows
• Cash outflows
• Net cash flow

What is a Business Plan?

A business plan is a strategic document that outlines an organization’s goals, objectives, and the steps required to achieve them. It serves as a roadmap as you start a business , guiding the company’s direction and growth while identifying potential obstacles and opportunities.

Typically, a business plan covers areas such as market analysis, financial projections, marketing strategies, and organizational structure. It not only helps in securing funding from investors and lenders but also provides clarity and focus to the management team.

A well-crafted business plan is a very important part of your business startup checklist because it fosters informed decision-making and long-term success.

Why You Should Write a Business Plan

Understanding the importance of a business plan in today’s competitive environment is crucial for entrepreneurs and business owners. Here are five compelling reasons to write a business plan:

• Attract Investors and Secure Funding : A well-written business plan demonstrates your venture’s potential and profitability, making it easier to attract investors and secure the necessary funding for growth and development. It provides a detailed overview of your business model, target market, financial projections, and growth strategies, instilling confidence in potential investors and lenders that your company is a worthy investment.
• Clarify Business Objectives and Strategies : Crafting a business plan forces you to think critically about your goals and the strategies you’ll employ to achieve them, providing a clear roadmap for success. This process helps you refine your vision and prioritize the most critical objectives, ensuring that your efforts are focused on achieving the desired results.
• Identify Potential Risks and Opportunities : Analyzing the market, competition, and industry trends within your business plan helps identify potential risks and uncover untapped opportunities for growth and expansion. This insight enables you to develop proactive strategies to mitigate risks and capitalize on opportunities, positioning your business for long-term success.
• Improve Decision-Making : A business plan serves as a reference point so you can make informed decisions that align with your company’s overall objectives and long-term vision. By consistently referring to your plan and adjusting it as needed, you can ensure that your business remains on track and adapts to changes in the market, industry, or internal operations.
• Foster Team Alignment and Communication : A shared business plan helps ensure that all team members are on the same page, promoting clear communication, collaboration, and a unified approach to achieving the company’s goals. By involving your team in the planning process and regularly reviewing the plan together, you can foster a sense of ownership, commitment, and accountability that drives success.

What are the Different Types of Business Plans?

In today’s fast-paced business world, having a well-structured roadmap is more important than ever. A traditional business plan provides a comprehensive overview of your company’s goals and strategies, helping you make informed decisions and achieve long-term success. There are various types of business plans, each designed to suit different needs and purposes. Let’s explore the main types:

• Startup Business Plan: Tailored for new ventures, a startup business plan outlines the company’s mission, objectives, target market, competition, marketing strategies, and financial projections. It helps entrepreneurs clarify their vision, secure funding from investors, and create a roadmap for their business’s future. Additionally, this plan identifies potential challenges and opportunities, which are crucial for making informed decisions and adapting to changing market conditions.
• Internal Business Plan: This type of plan is intended for internal use, focusing on strategies, milestones, deadlines, and resource allocation. It serves as a management tool for guiding the company’s growth, evaluating its progress, and ensuring that all departments are aligned with the overall vision. The internal business plan also helps identify areas of improvement, fosters collaboration among team members, and provides a reference point for measuring performance.
• Strategic Business Plan: A strategic business plan outlines long-term goals and the steps to achieve them, providing a clear roadmap for the company’s direction. It typically includes a SWOT analysis, market research, and competitive analysis. This plan allows businesses to align their resources with their objectives, anticipate changes in the market, and develop contingency plans. By focusing on the big picture, a strategic business plan fosters long-term success and stability.
• Feasibility Business Plan: This plan is designed to assess the viability of a business idea, examining factors such as market demand, competition, and financial projections. It is often used to decide whether or not to pursue a particular venture. By conducting a thorough feasibility analysis, entrepreneurs can avoid investing time and resources into an unviable business concept. This plan also helps refine the business idea, identify potential obstacles, and determine the necessary resources for success.
• Growth Business Plan: Also known as an expansion plan, a growth business plan focuses on strategies for scaling up an existing business. It includes market analysis, new product or service offerings, and financial projections to support expansion plans. This type of plan is essential for businesses looking to enter new markets, increase their customer base, or launch new products or services. By outlining clear growth strategies, the plan helps ensure that expansion efforts are well-coordinated and sustainable.
• Operational Business Plan: This type of plan outlines the company’s day-to-day operations, detailing the processes, procedures, and organizational structure. It is an essential tool for managing resources, streamlining workflows, and ensuring smooth operations. The operational business plan also helps identify inefficiencies, implement best practices, and establish a strong foundation for future growth. By providing a clear understanding of daily operations, this plan enables businesses to optimize their resources and enhance productivity.
• Lean Business Plan: A lean business plan is a simplified, agile version of a traditional plan, focusing on key elements such as value proposition, customer segments, revenue streams, and cost structure. It is perfect for startups looking for a flexible, adaptable planning approach. The lean business plan allows for rapid iteration and continuous improvement, enabling businesses to pivot and adapt to changing market conditions. This streamlined approach is particularly beneficial for businesses in fast-paced or uncertain industries.
• One-Page Business Plan: As the name suggests, a one-page business plan is a concise summary of your company’s key objectives, strategies, and milestones. It serves as a quick reference guide and is ideal for pitching to potential investors or partners. This plan helps keep teams focused on essential goals and priorities, fosters clear communication, and provides a snapshot of the company’s progress. While not as comprehensive as other plans, a one-page business plan is an effective tool for maintaining clarity and direction.
• Nonprofit Business Plan: Specifically designed for nonprofit organizations, this plan outlines the mission, goals, target audience, fundraising strategies, and budget allocation. It helps secure grants and donations while ensuring the organization stays on track with its objectives. The nonprofit business plan also helps attract volunteers, board members, and community support. By demonstrating the organization’s impact and plans for the future, this plan is essential for maintaining transparency, accountability, and long-term sustainability within the nonprofit sector.
• Franchise Business Plan: For entrepreneurs seeking to open a franchise, this type of plan focuses on the franchisor’s requirements, as well as the franchisee’s goals, strategies, and financial projections. It is crucial for securing a franchise agreement and ensuring the business’s success within the franchise system. This plan outlines the franchisee’s commitment to brand standards, marketing efforts, and operational procedures, while also addressing local market conditions and opportunities. By creating a solid franchise business plan, entrepreneurs can demonstrate their ability to effectively manage and grow their franchise, increasing the likelihood of a successful partnership with the franchisor.

Using Business Plan Software

Creating a comprehensive business plan can be intimidating, but business plan software can streamline the process and help you produce a professional document. These tools offer a number of benefits, including guided step-by-step instructions, financial projections, and industry-specific templates. Here are the top 5 business plan software options available to help you craft a great business plan.

1. LivePlan

LivePlan is a popular choice for its user-friendly interface and comprehensive features. It offers over 500 sample plans, financial forecasting tools, and the ability to track your progress against key performance indicators. With LivePlan, you can create visually appealing, professional business plans that will impress investors and stakeholders.

2. Upmetrics

Upmetrics provides a simple and intuitive platform for creating a well-structured business plan. It features customizable templates, financial forecasting tools, and collaboration capabilities, allowing you to work with team members and advisors. Upmetrics also offers a library of resources to guide you through the business planning process.

Bizplan is designed to simplify the business planning process with a drag-and-drop builder and modular sections. It offers financial forecasting tools, progress tracking, and a visually appealing interface. With Bizplan, you can create a business plan that is both easy to understand and visually engaging.

Enloop is a robust business plan software that automatically generates a tailored plan based on your inputs. It provides industry-specific templates, financial forecasting, and a unique performance score that updates as you make changes to your plan. Enloop also offers a free version, making it accessible for businesses on a budget.

5. Tarkenton GoSmallBiz

Developed by NFL Hall of Famer Fran Tarkenton, GoSmallBiz is tailored for small businesses and startups. It features a guided business plan builder, customizable templates, and financial projection tools. GoSmallBiz also offers additional resources, such as CRM tools and legal document templates, to support your business beyond the planning stage.

Business Plan FAQs

What is a good business plan.

A good business plan is a well-researched, clear, and concise document that outlines a company’s goals, strategies, target market, competitive advantages, and financial projections. It should be adaptable to change and provide a roadmap for achieving success.

What are the 3 main purposes of a business plan?

The three main purposes of a business plan are to guide the company’s strategy, attract investment, and evaluate performance against objectives. Here’s a closer look at each of these:

• It outlines the company’s purpose and core values to ensure that all activities align with its mission and vision.
• It provides an in-depth analysis of the market, including trends, customer needs, and competition, helping the company tailor its products and services to meet market demands.
• It defines the company’s marketing and sales strategies, guiding how the company will attract and retain customers.
• It describes the company’s organizational structure and management team, outlining roles and responsibilities to ensure effective operation and leadership.
• It sets measurable, time-bound objectives, allowing the company to plan its activities effectively and make strategic decisions to achieve these goals.
• It provides a comprehensive overview of the company and its business model, demonstrating its uniqueness and potential for success.
• It presents the company’s financial projections, showing its potential for profitability and return on investment.
• It demonstrates the company’s understanding of the market, including its target customers and competition, convincing investors that the company is capable of gaining a significant market share.
• It showcases the management team’s expertise and experience, instilling confidence in investors that the team is capable of executing the business plan successfully.
• It establishes clear, measurable objectives that serve as performance benchmarks.
• It provides a basis for regular performance reviews, allowing the company to monitor its progress and identify areas for improvement.
• It enables the company to assess the effectiveness of its strategies and make adjustments as needed to achieve its objectives.
• It helps the company identify potential risks and challenges, enabling it to develop contingency plans and manage risks effectively.
• It provides a mechanism for evaluating the company’s financial performance, including revenue, expenses, profitability, and cash flow.

Can I write a business plan by myself?

Yes, you can write a business plan by yourself, but it can be helpful to consult with mentors, colleagues, or industry experts to gather feedback and insights. There are also many creative business plan templates and business plan examples available online, including those above.

We also have examples for specific industries, including a using food truck business plan , salon business plan , farm business plan , daycare business plan , and restaurant business plan .

Is it possible to create a one-page business plan?

Yes, a one-page business plan is a condensed version that highlights the most essential elements, including the company’s mission, target market, unique selling proposition, and financial goals.

How long should a business plan be?

A typical business plan ranges from 20 to 50 pages, but the length may vary depending on the complexity and needs of the business.

What is a business plan outline?

A business plan outline is a structured framework that organizes the content of a business plan into sections, such as the executive summary, company description, market analysis, and financial projections.

What are the 5 most common business plan mistakes?

The five most common business plan mistakes include inadequate research, unrealistic financial projections, lack of focus on the unique selling proposition, poor organization and structure, and failure to update the plan as circumstances change.

What questions should be asked in a business plan?

A business plan should address questions such as: What problem does the business solve? Who is the specific target market ? What is the unique selling proposition? What are the company’s objectives? How will it achieve those objectives?

What’s the difference between a business plan and a strategic plan?

A business plan focuses on the overall vision, goals, and tactics of a company, while a strategic plan outlines the specific strategies, action steps, and performance measures necessary to achieve the company’s objectives.

How is business planning for a nonprofit different?

Nonprofit business planning focuses on the organization’s mission, social impact, and resource management, rather than profit generation. The financial section typically includes funding sources, expenses, and projected budgets for programs and operations.

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Download a Business Plan Template

Business Plan Template by Being Boss and FreshBooks

So, you’re ready to take the first steps in starting your business – congratulations!

Though you have a lot of work ahead of you, starting and growing a company from the ground up is a bold endeavor. And, if set up correctly it will deliver many things you want out of your professional career, as well as help you achieve some life goals.

Freedom, creativity, control, impact… all of these things are possible with a small business. But only if you start with a clear understanding of yourself, your offering, and the customers you serve.

So, how do you make sure that the business you start will be everything you want it to be? To put you on the right path towards the business you’ve always dreamed of, you need to start with a business plan.

To many, building a business plan sounds like a daunting task, but with big ideas and even bigger goals, it’s an important step to ensure you have a clear picture of what kind of company you’re building. A business plan helps you lay a foundation and iron out the details so you have a succinct short-term and long-term idea of what you’re building. If you’re not sure where to start business plan template documents can help.

What Is a Business Plan Template and How Can It Help You?

A business plan template is a basic framework for building a powerful business plan document for your new company. With a business plan template, you get a head start on identifying key elements of your business. By identifying these key elements, your path becomes clear and easier to navigate. A business planning template can take many forms, from a series of questions about your skills, offering, customers, and goals to a sample document where you can store information for the kind of company you wish to build.

Whatever the format, a business planner template guides your business planning to keep you focused, help you get clear, and creates a structure for bringing your new ideas into a concise document to guide your actions, as well as present your plans to people you might approach for help, such as investors.

Why Do You Need a Business Plan?

To begin, simply writing a business plan is a wonderful way to find clarity, purpose, and a path for your new company, because if we know anything about entrepreneurs, it’s this: you have a gazillion ideas and goals for your new venture. A business plan helps you hone in on the most important and relevant ideas for your new company, and helps you organize those thoughts into a usable plan.

Beyond finding clarity and organizing your ideas, your business plan is a place where you set goals for yourself and your business, as well as predict any struggles you may face to reach those goals. Additionally, business plans lay out a clear strategy for reaching those goals, setting you on the right path from the very beginning.

Also, there are several key elements you must understand about your new business before you begin. You need to have a clear understanding of the products and services you offer, who your dream customers are (aka your target market), and who your competitors are (through doing a market analysis). You also need to see if your business idea is even viable by doing financial projections, which will determine if the product or service you offer is actually capable of creating enough income (aka revenue) to cover expenses (aka cost).

Because an offering that doesn’t make money isn’t a business, it’s a hobby. With all of this information laid out, business plans act as a concise rundown of all the major parts of your business, which you’ll use to go from idea to small business and beyond. This detailed summary of the business you’re starting includes a plan for actually making it happen. Trust us: there’s a bit of magic that comes from getting clear on these aspects of your new business because from clarity comes power, and with power… nothing will stand in your way.

How to Structure a Business Plan

A business plan that you’re using for your own clarity and purposes can look like anything you want – include the elements that are important to you, write it on a series of napkins if you want to, or add as much creative flair as you need to inspire you to get it done. Then get started with your business. The important thing is that you simply get it down “on paper” so that you have the information you need to effectively provide the product or service of your business to those in your target market so that you can begin reaching your goals.

But, if you’re wishing to seek funding for your new business, whether that’s from a bank, from an investor, or even from your family, it’s very important that you have a plan with a clear structure and with key elements presented. That way not only you will find clarity in the direction and purpose of your new business, but others can see it as well.

A traditional business plan begins with a broad overview of your new company, including your business mission and goals, and moves into being more detailed, with your first steps of action, along with plenty of information in between. Your plan is a product of lots of research about your industry, your ideal customer, and your offerings. It also represents in-depth planning, by outlining your skills and how you’ll grow them, how much it’s going to cost to get started, and financial projections for your first years. This plan will come together in a single document with clear organization that you can access anytime to keep you focused on taking just the right next step on your path.

What Goes Into a Business Plan?

There are several key elements that go into a complete and thorough business plan. With these elements, you have a complete picture of the company you’re here to start, which will become an invaluable resource as you begin taking your first steps, as well as when you begin checking-in in the coming months and even years. These elements include:

1. EXECUTIVE SUMMARY

Think of your executive summary as your birds-eye view of your company. It’s a summary of all other elements included in your business plan, and is the first (and sometimes only) element looked at by investors.

2. MISSION + VISION

Why are you starting your business? What do you imagine it being in 5 years? In this section of your business plan you share the reasons behind your business and where you see it going in the near and distant future.

Laying out clear goals for your business will give you context for all the work ahead. Think about business and life goals, and create goals for the short-term (6-12 months), mid-term (12-24 months), and long-term (24 months +).

4. SKILLS + EXPERIENCE

Think of this section as a personal resume; what skills and experience do you have that will be relevant for this venture, but also what skills do you need to grow or gain to make you a valuable asset to your new business?

5. PRODUCTS/SERVICES

Now we begin getting to the meat of business plans: a clear description of your products and/or services, including what they are and how you will be delivering them to your clients or customers. This should include description, deliverables, benefits for your customers, and price.

6. TARGET MARKET

You know what you’re doing, but who are you doing it for? Getting very clear on your dream customers, the group or groups of people you will be serving with your business is an important element for shaping your product or service correctly, as well as marketing effectively.

7. INDUSTRY/COMPETITION

An understanding of your industry (24-hour gyms, or bakeries, or web developers) and your competition is important to crafting the right product or service, and making sure your idea is viable.

8. OPERATIONAL PLANS

In order to get your business off the ground, what do you need? Perhaps it’s a few hires, or sourcing some information or products; whatever you need, this is where you lay it out.

9. MARKETING PLAN

With a full layout of what you’re selling and who you’re selling it to, it’s time to get an understanding of how you’ll get your offering in front of the right people with a clear marketing plan.

10. SALES FORECAST/FINANCIAL PROJECTIONS

How effectively do you think your marketing will be? How long will it take for you to meet your goals? Through financial projects, you’re able to see the work you have to do to meet your version of success.

11. START-UP EXPENSES

Finally, what do you need to get the ball rolling? A clear understanding of your start-up expenses is imperative for jumpstarting your business towards success.

Find Your Community

You’re on your way! Being the boss of a business you built for yourself is highly gratifying, especially when your actions align with your values, which is what this business plan template will help you do. And if you need help fleshing it out, let me walk you through it step-by-step in this special episode of the Being Boss podcast.

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Business Plan Template: Complete Fill in the Blanks Sample Business Plan Proposal (With MS Word Version, Excel Spreadsheets, and 7 Free Gifts) Paperback – June 30, 2017

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Here's How to Turn Your Business Idea Into a Successful Reality (Plus, You Get 7 Free Valuable Gifts)

This guide features a complete business plan template with step by step instructions on how to plan and start your new business. This fill-in-the-blanks template includes every section of your business plan, including your Executive Summary, Company Analysis, Competitive Analysis, Marketing Plan, Operations Plan and Financial Plan. This is must-know must-do information; ignore it and you stand a good chance to fail (a similar template is sold elsewhere for $69.95).

The Business Plan Template will help you figure out if your new business idea could actually be turned into a viable business, it serves as a blueprint for your successful startup.

Here's how this system will benefit you:

* Discover easy to follow explanations on how to develop a business plan that will make bankers, prospective partners and investors line up at your door. Practical techniques you can put to work immediately.

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* This template was successfully field tested with numerous entrepreneurs, banks and investors.

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Whether you're just getting started or you're on your way to the top, this could be the single most important investment you make in your business! The Business Plan Template could pay for itself, many times over, the first time you use it... and it's sure to spare you lots of costly mistakes every step of the way.

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This is a multi featured, fully operational Excel based software program. It is a financial management program that will help you prepare budgets, cash flow projections, projected income statements, plan and analyze your start up expenses and sales and much more.

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This is a high quality, full blown business plan template complete with detailed instructions and all the related spreadsheets. Allows you to prepare a professional business plan.

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• Print length 112 pages
• Language English
• Publication date June 30, 2017
• Dimensions 6 x 0.26 x 9 inches
• ISBN-10 1548449105
• ISBN-13 978-1548449100
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• Publisher ‏ : ‎ CreateSpace Independent Publishing Platform (June 30, 2017)
• Language ‏ : ‎ English
• Paperback ‏ : ‎ 112 pages
• ISBN-10 ‏ : ‎ 1548449105
• ISBN-13 ‏ : ‎ 978-1548449100
• Item Weight ‏ : ‎ 5.8 ounces
• Dimensions ‏ : ‎ 6 x 0.26 x 9 inches
• #2,782 in Entrepreneurship (Books)

About the author

My name is Meir Liraz and I am the author of the books presented on this page.

Whether you are presently running your own business or just planning to start one, my books can be the best business investment you have ever made. Each of the books presented below cover a specific business topic featuring all the guidelines and tools you need to master that topic.

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Step-by-Step Guide to Writing a Simple Business Plan

By Joe Weller | October 11, 2021

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A business plan is the cornerstone of any successful company, regardless of size or industry. This step-by-step guide provides information on writing a business plan for organizations at any stage, complete with free templates and expert advice. 

Included on this page, you’ll find a step-by-step guide to writing a business plan and a chart to identify which type of business plan you should write . Plus, find information on how a business plan can help grow a business and expert tips on writing one .

What Is a Business Plan?

A business plan is a document that communicates a company’s goals and ambitions, along with the timeline, finances, and methods needed to achieve them. Additionally, it may include a mission statement and details about the specific products or services offered.

A business plan can highlight varying time periods, depending on the stage of your company and its goals. That said, a typical business plan will include the following benchmarks:

• Product goals and deadlines for each month
• Monthly financials for the first two years
• Profit and loss statements for the first three to five years
• Balance sheet projections for the first three to five years

Startups, entrepreneurs, and small businesses all create business plans to use as a guide as their new company progresses. Larger organizations may also create (and update) a business plan to keep high-level goals, financials, and timelines in check.

While you certainly need to have a formalized outline of your business’s goals and finances, creating a business plan can also help you determine a company’s viability, its profitability (including when it will first turn a profit), and how much money you will need from investors. In turn, a business plan has functional value as well: Not only does outlining goals help keep you accountable on a timeline, it can also attract investors in and of itself and, therefore, act as an effective strategy for growth.

For more information, visit our comprehensive guide to writing a strategic plan or download free strategic plan templates . This page focuses on for-profit business plans, but you can read our article with nonprofit business plan templates .

Business Plan Steps

The specific information in your business plan will vary, depending on the needs and goals of your venture, but a typical plan includes the following ordered elements:

• Executive summary
• Description of business
• Market analysis
• Competitive analysis
• Description of organizational management
• Description of product or services
• Marketing plan
• Sales strategy
• Funding details (or request for funding)
• Financial projections

If your plan is particularly long or complicated, consider adding a table of contents or an appendix for reference. For an in-depth description of each step listed above, read “ How to Write a Business Plan Step by Step ” below.

Broadly speaking, your audience includes anyone with a vested interest in your organization. They can include potential and existing investors, as well as customers, internal team members, suppliers, and vendors.

Do I Need a Simple or Detailed Plan?

Your business’s stage and intended audience dictates the level of detail your plan needs. Corporations require a thorough business plan — up to 100 pages. Small businesses or startups should have a concise plan focusing on financials and strategy.

How to Choose the Right Plan for Your Business

In order to identify which type of business plan you need to create, ask: “What do we want the plan to do?” Identify function first, and form will follow.

Use the chart below as a guide for what type of business plan to create:

Is the Order of Your Business Plan Important?

There is no set order for a business plan, with the exception of the executive summary, which should always come first. Beyond that, simply ensure that you organize the plan in a way that makes sense and flows naturally.

The Difference Between Traditional and Lean Business Plans

A traditional business plan follows the standard structure — because these plans encourage detail, they tend to require more work upfront and can run dozens of pages. A Lean business plan is less common and focuses on summarizing critical points for each section. These plans take much less work and typically run one page in length.

In general, you should use a traditional model for a legacy company, a large company, or any business that does not adhere to Lean (or another Agile method ). 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.

How to Write a Business Plan Step by Step

Writing a strong business plan requires research and attention to detail for each section. Below, you’ll find a 10-step guide to researching and defining each element in the plan.

Step 1: Executive Summary

The executive summary will always be the first section of your business plan. The goal is to answer the following questions:

• What is the vision and mission of the company?
• What are the company’s short- and long-term goals?

See our  roundup of executive summary examples and templates for samples. Read our executive summary guide to learn more about writing one.

Step 2: Description of Business

The goal of this section is to define the realm, scope, and intent of your venture. To do so, answer the following questions as clearly and concisely as possible:

• What business are we in?
• What does our business do?

Step 3: Market Analysis

In this section, provide evidence that you have surveyed and understand the current marketplace, and that your product or service satisfies a niche in the market. To do so, answer these questions:

• Who is our customer? 
• What does that customer value?

Step 4: Competitive Analysis

In many cases, a business plan proposes not a brand-new (or even market-disrupting) venture, but a more competitive version — whether via features, pricing, integrations, etc. — than what is currently available. In this section, answer the following questions to show that your product or service stands to outpace competitors:

• Who is the competition? 
• What do they do best? 
• What is our unique value proposition?

Step 5: Description of Organizational Management

In this section, write an overview of the team members and other key personnel who are integral to success. List roles and responsibilities, and if possible, note the hierarchy or team structure.

Step 6: Description of Products or Services

In this section, clearly define your product or service, as well as all the effort and resources that go into producing it. The strength of your product largely defines the success of your business, so it’s imperative that you take time to test and refine the product before launching into marketing, sales, or funding details.

Questions to answer in this section are as follows:

• What is the product or service?
• How do we produce it, and what resources are necessary for production?

Step 7: Marketing Plan

In this section, define the marketing strategy for your product or service. This doesn’t need to be as fleshed out as a full marketing plan , but it should answer basic questions, such as the following:

• Who is the target market (if different from existing customer base)?
• What channels will you use to reach your target market?
• What resources does your marketing strategy require, and do you have access to them?
• If possible, do you have a rough estimate of timeline and budget?
• How will you measure success?

Step 8: Sales Plan

Write an overview of the sales strategy, including the priorities of each cycle, steps to achieve these goals, and metrics for success. For the purposes of a business plan, this section does not need to be a comprehensive, in-depth sales plan , but can simply outline the high-level objectives and strategies of your sales efforts. 

Start by answering the following questions:

• What is the sales strategy?
• What are the tools and tactics you will use to achieve your goals?
• What are the potential obstacles, and how will you overcome them?
• What is the timeline for sales and turning a profit?
• What are the metrics of success?

Step 9: Funding Details (or Request for Funding)

This section is one of the most critical parts of your business plan, particularly if you are sharing it with investors. You do not need to provide a full financial plan, but you should be able to answer the following questions:

• How much capital do you currently have? How much capital do you need?
• How will you grow the team (onboarding, team structure, training and development)?
• What are your physical needs and constraints (space, equipment, etc.)?

Step 10: Financial Projections

Apart from the fundraising analysis, investors like to see thought-out financial projections for the future. As discussed earlier, depending on the scope and stage of your business, this could be anywhere from one to five years. 

While these projections won’t be exact — and will need to be somewhat flexible — you should be able to gauge the following:

• How and when will the company first generate a profit?
• How will the company maintain profit thereafter?

Business Plan Template

Download Business Plan Template

Microsoft Excel | Smartsheet

This basic business plan template has space for all the traditional elements: an executive summary, product or service details, target audience, marketing and sales strategies, etc. In the finances sections, input your baseline numbers, and the template will automatically calculate projections for sales forecasting, financial statements, and more.

For templates tailored to more specific needs, visit this business plan template roundup or download a fill-in-the-blank business plan template to make things easy. 

If you are looking for a particular template by file type, visit our pages dedicated exclusively to Microsoft Excel , Microsoft Word , and Adobe PDF business plan templates.

How to Write a Simple Business Plan

A simple business plan is a streamlined, lightweight version of the large, traditional model. As opposed to a one-page business plan , which communicates high-level information for quick overviews (such as a stakeholder presentation), a simple business plan can exceed one page.

Below are the steps for creating a generic simple business plan, which are reflected in the template below .

• Write the Executive Summary This section is the same as in the traditional business plan — simply offer an overview of what’s in the business plan, the prospect or core offering, and the short- and long-term goals of the company. 
• Add a Company Overview Document the larger company mission and vision. 
• Provide the Problem and Solution In straightforward terms, define the problem you are attempting to solve with your product or service and how your company will attempt to do it. Think of this section as the gap in the market you are attempting to close.
• Identify the Target Market Who is your company (and its products or services) attempting to reach? If possible, briefly define your buyer personas .
• Write About the Competition In this section, demonstrate your knowledge of the market by listing the current competitors and outlining your competitive advantage.
• Describe Your Product or Service Offerings Get down to brass tacks and define your product or service. What exactly are you selling?
• Outline Your Marketing Tactics Without getting into too much detail, describe your planned marketing initiatives.
• Add a Timeline and the Metrics You Will Use to Measure Success Offer a rough timeline, including milestones and key performance indicators (KPIs) that you will use to measure your progress.
• Include Your Financial Forecasts Write an overview of your financial plan that demonstrates you have done your research and adequate modeling. You can also list key assumptions that go into this forecasting. 
• Identify Your Financing Needs This section is where you will make your funding request. Based on everything in the business plan, list your proposed sources of funding, as well as how you will use it.

Simple Business Plan Template

Download Simple Business Plan Template

Microsoft Excel |  Microsoft Word | Adobe PDF  | Smartsheet

Use this simple business plan template to outline each aspect of your organization, including information about financing and opportunities to seek out further funding. This template is completely customizable to fit the needs of any business, whether it’s a startup or large company.

Read our article offering free simple business plan templates or free 30-60-90-day business plan templates to find more tailored options. You can also explore our collection of one page business templates . 

How to Write a Business Plan for a Lean Startup

A Lean startup business plan is a more Agile approach to a traditional version. The plan focuses more on activities, processes, and relationships (and maintains flexibility in all aspects), rather than on concrete deliverables and timelines.

While there is some overlap between a traditional and a Lean business plan, you can write a Lean plan by following the steps below:

• Add Your Value Proposition Take a streamlined approach to describing your product or service. What is the unique value your startup aims to deliver to customers? Make sure the team is aligned on the core offering and that you can state it in clear, simple language.
• List Your Key Partners List any other businesses you will work with to realize your vision, including external vendors, suppliers, and partners. This section demonstrates that you have thoughtfully considered the resources you can provide internally, identified areas for external assistance, and conducted research to find alternatives.
• Note the Key Activities Describe the key activities of your business, including sourcing, production, marketing, distribution channels, and customer relationships.
• Include Your Key Resources List the critical resources — including personnel, equipment, space, and intellectual property — that will enable you to deliver your unique value.
• Identify Your Customer Relationships and Channels In this section, document how you will reach and build relationships with customers. Provide a high-level map of the customer experience from start to finish, including the spaces in which you will interact with the customer (online, retail, etc.). 
• Detail Your Marketing Channels Describe the marketing methods and communication platforms you will use to identify and nurture your relationships with customers. These could be email, advertising, social media, etc.
• Explain the Cost Structure This section is especially necessary in the early stages of a business. Will you prioritize maximizing value or keeping costs low? List the foundational startup costs and how you will move toward profit over time.
• Share Your Revenue Streams Over time, how will the company make money? Include both the direct product or service purchase, as well as secondary sources of revenue, such as subscriptions, selling advertising space, fundraising, etc.

Lean Business Plan Template for Startups

Download Lean Business Plan Template for Startups

Microsoft Word | Adobe PDF

Startup leaders can use this Lean business plan template to relay the most critical information from a traditional plan. 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.

See our wide variety of  startup business plan templates for more options.

How to Write a Business Plan for a Loan

A business plan for a loan, often called a loan proposal , includes many of the same aspects of a traditional business plan, as well as additional financial documents, such as a credit history, a loan request, and a loan repayment plan.

In addition, you may be asked to include personal and business financial statements, a form of collateral, and equity investment information.

Download free financial templates to support your business plan.

Tips for Writing a Business Plan

Outside of including all the key details in your business plan, you have several options to elevate the document for the highest chance of winning funding and other resources. Follow these tips from experts:.

• Keep It Simple: Avner Brodsky , the Co-Founder and CEO of Lezgo Limited, an online marketing company, uses the acronym KISS (keep it short and simple) as a variation on this idea. “The business plan is not a college thesis,” he says. “Just focus on providing the essential information.”
• Do Adequate Research: Michael Dean, the Co-Founder of Pool Research , encourages business leaders to “invest time in research, both internal and external (market, finance, legal etc.). Avoid being overly ambitious or presumptive. Instead, keep everything objective, balanced, and accurate.” Your plan needs to stand on its own, and you must have the data to back up any claims or forecasting you make. As Brodsky explains, “Your business needs to be grounded on the realities of the market in your chosen location. Get the most recent data from authoritative sources so that the figures are vetted by experts and are reliable.”
• Set Clear Goals: Make sure your plan includes clear, time-based goals. “Short-term goals are key to momentum growth and are especially important to identify for new businesses,” advises Dean.
• Know (and Address) Your Weaknesses: “This awareness sets you up to overcome your weak points much quicker than waiting for them to arise,” shares Dean. Brodsky recommends performing a full SWOT analysis to identify your weaknesses, too. “Your business will fare better with self-knowledge, which will help you better define the mission of your business, as well as the strategies you will choose to achieve your objectives,” he adds.
• Seek Peer or Mentor Review: “Ask for feedback on your drafts and for areas to improve,” advises Brodsky. “When your mind is filled with dreams for your business, sometimes it is an outsider who can tell you what you’re missing and will save your business from being a product of whimsy.”

Outside of these more practical tips, the language you use is also important and may make or break your business plan.

Shaun Heng, VP of Operations at Coin Market Cap , gives the following advice on the writing, “Your business plan is your sales pitch to an investor. And as with any sales pitch, you need to strike the right tone and hit a few emotional chords. This is a little tricky in a business plan, because you also need to be formal and matter-of-fact. But you can still impress by weaving in descriptive language and saying things in a more elegant way.

“A great way to do this is by expanding your vocabulary, avoiding word repetition, and using business language. Instead of saying that something ‘will bring in as many customers as possible,’ try saying ‘will garner the largest possible market segment.’ Elevate your writing with precise descriptive words and you'll impress even the busiest investor.”

Additionally, Dean recommends that you “stay consistent and concise by keeping your tone and style steady throughout, and your language clear and precise. Include only what is 100 percent necessary.”

Resources for Writing a Business Plan

While a template provides a great outline of what to include in a business plan, a live document or more robust program can provide additional functionality, visibility, and real-time updates. The U.S. Small Business Association also curates resources for writing a business plan.

Additionally, you can use business plan software to house data, attach documentation, and share information with stakeholders. Popular options include LivePlan, Enloop, BizPlanner, PlanGuru, and iPlanner.

How a Business Plan Helps to Grow Your Business

A business plan — both the exercise of creating one and the document — can grow your business by helping you to refine your product, target audience, sales plan, identify opportunities, secure funding, and build new partnerships. 

Outside of these immediate returns, writing a business plan is a useful exercise in that it forces you to research the market, which prompts you to forge your unique value proposition and identify ways to beat the competition. Doing so will also help you build (and keep you accountable to) attainable financial and product milestones. And down the line, it will serve as a welcome guide as hurdles inevitably arise.

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When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time.  Try Smartsheet for free, today.

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How To Create a Business Plan for Your Book

The internet is a pretty amazing thing, isn’t it? It’s an [almost] endless source of entertainment, education, databases, tools, rabbit holes, conspiracy theories, and more. In addition, the birth of the World Wide Web eventually brought another huge opportunity to almost everyone with access to it—the ability to start an online business.

The way we bought things before the internet exploded into existence was very different (and much less convenient) compared to now. For the things we couldn’t shop for in-store, we called a 1-800 number or a local business and ordered. Fast-forward a few decades, and a study from 2020 found that in the U.S., “traditional retail businesses located in a physical location saw their sales grow by 6.9% between 2019 and 2020. Ecommerce sales grew by 14% in the same time.” From 2020 to 2022, ecommerce sales grew even more.

Unfortunately, finding success isn’t usually as simple as creating an online store and opening it up to the public. In fact, according to a recent study, “About half of all businesses fail within the first five years. Every month in the U.S., nearly 550,000 new companies take flight. Around 80% of them survive about 12 months —70% last 24 months or more. Roughly 50% of businesses make it half a decade, and approximately a third survive ten years.”

These numbers are not meant to discourage you, but instead to make you think about why so many businesses fail. Failure can stem from all sorts of things, but companies that do succeed tend to have one thing in common—a great business plan.

Creating a business plan, also sometimes referred to as an “executive summary,” forces you to sit down and really think about your business as a whole, the resources you need to be successful, a roadmap of clear goals to propel your business forward, and the viability of your company. Whether you’re just testing the waters for a possible business venture, or you’ve been selling for a while, creating a business plan is a vital step in your journey to success.

Get To Know Your Business (Your Book)

The goal of this portion of your plan is to give a synopsis of your business and formulate a mission statement. Try answering the following questions as you write:

• What am I selling?
• Who is my audience?
• What is my brand’s voice?
• What values do I want to uphold?
• Who are my competitors?

Take time to reflect on the audience you are targeting and the voice you want your brand to have. Establishing your brand’s voice early on will help you create a consistent brand and ultimately build a loyal audience. More than likely, you’ll think of things you haven’t thought of yet, and this might even help you clarify ideas you’ve already had. If you are having trouble with how to get started, try visiting the About Us or About the Author section of some of your favorite websites for inspiration.

Observing the competition is another way to get to know your business. Instead of feeling intimidated or losing confidence in your business, use it to your favor instead. Keep an objective eye on your competition, observe what they are doing well, and make note of their strengths and weaknesses. A simple yet effective way to do this is by following their social media channels or signing up to receive their marketing emails.

Identify Business Resources

When you visit an ecommerce website or walk into a store, there are several things you expect to see: items to purchase, a way to pay for them, and usually someone to help you while you are browsing or checking out. If you are in a store or on a website you particularly enjoy, you probably don’t even notice what keeps everything running smoothly; instead, it’s just an enjoyable shopping experience.

If you have ever worked in retail, you know how hectic it can be—especially during peak shopping times like Black Friday, Cyber Monday, or Mother’s Day.

What customers don’t usually see are the backrooms or the behind-the-scenes. This is where you can find half-filled (figurative or literal) boxes of inventory waiting to restock shelves, employee schedules, and customer support training, graphic designers creating banners and signs for promotions, and more. Needless to say, there are a lot of working parts that go into making a business successful, regardless of the scale.

This next portion of your business plan can be divided into three different sections:

1. Physical Resources

This is partially figuring out what you are selling and where your products are coming from, but it also includes other items necessary for a business to run smoothly. Breaking it down into the following categories can help you figure out exactly what you need:

Products and Inventory – Are you making items yourself, or are you outsourcing them from another company? Are you storing inventory at your home or office, or do you plan to use dropshipping?

Sell Your Book, Your Way

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Equipment – This includes items other than what you are selling, such as a computer, a camera, packaging materials, a printer, printer paper, ink, and anything else you expect you’ll need for your day-to-day.

2. Financial Resources

You could have the most brilliant business idea in the world, but when it all comes down to it, the financial health of a business is almost always what dictates whether it survives or closes up shop. In this portion of your business plan, you will need to compile your expected business expenses and decide how you plan to fund them. Almost all legitimate businesses will need some kind of monetary investment, and whether this comes in the form of a loan from a bank, a fundraiser or Kickstarter campaign , or an investor, you will need to find a way to fund your business as you get it off the ground.

Because financial resources are one of the most crucial parts of starting a business, I strongly encourage you to speak with a financial advisor. At the very least, downloading a helpful spreadsheet to track your business finances can help you keep your funds organized.

3. Operational Resources

This is where you will need to decide whether you want to do this alone, or if you need to hire some help. Running a business by yourself will mean that you are your own accountant, customer service representative, inventory manager, website administrator, product tester, and any other role you fill in your day-to-day. If you decide to go this route, mapping out the organizational structure in your business plan can help you decide if and when to hire additional team members. Everything in your business plan can change at any time—it’s yours , after all—so don’t stress out too much if you aren’t sure how much help you will need in the beginning.

Find Vendors That Align with Your Values

More and more people are spending their dollars with companies that uphold the same values as them. In fact, 70% of worldwide consumers prefer to buy from companies that share in their values. While this adds to the list of things to consider as you put together your business plan, that statistic is difficult to ignore. 

Sourcing products from partners whose values align with yours will help create a stronger business because it will allow your customers to see worth in your company beyond just the products you’re selling. By partnering with vendors that share your values, you’re staying authentic and true to your brand, which will help you build a loyal customer base.

For Lulu, our mission is to make the world a better place, one book at a time. Working with partners that share those values motivated us to become B Corp certified , which means we are part of a group of businesses that do amazing and impactful work for communities and the planet. What does this mean for Lulu users? All of our products are printed on acid-free, FSC-accredited paper, which means the paper is made from trees grown in forests that are run in a sustainable way . Regardless of the product you are selling, consider the bigger picture (and ultimately, what your customers want) when figuring out where your resources are coming from.

Set Business Goals and Develop a Marketing Plan

Your next steps in developing long-term, sustainable results in your business are to set goals and develop a marketing plan. This will help you accelerate your business’s growth and prepare for the challenges ahead.

1. Set Goals

Where do you see your business in one year, five years, or even ten years? Ten years can feel like a long time from now, but it’s important to set both short-term and long-term goals for yourself to avoid business failure within the first decade. 

Short-term goals can be independent of your long-term goals, but they can also be intermittent steps as you work towards a long-term goal. For example, a few short-term goals you set for yourself may be to research and refine your niche market, create a product page , and run a sale or promotion. This could all lead to a long-term goal of launching your new book.

While setting goals, it is important to not only think about your marketing and sales goals, but your financial, operations, and overall business goals as well. Be sure to consider current profits versus projected profits, and adjust your goals accordingly.

2. Put Together a Marketing Plan

I could write an entire blog post on this topic alone, but I will keep it brief. The goal of creating a marketing plan is to provide a roadmap of your marketing strategies for your business. You should include the channels you plan to utilize to reach your target audience, your budget, promotions you intend to run, market research, and more . Set yourself up for success by strategizing ways to drive traffic to your website and convert visitors into customers. Some effective ways to market to your customers could include email marketing , social media promotion , or search engine optimization (SEO).

Get To Work!

Reviewing your business as a whole, identifying key resources, setting short- and long-term goals, and creating a marketing plan are vital steps in your journey toward operating a successful business. Developing a business plan is difficult, but success awaits those willing to put in the effort. Now that you know how to create one, the rest is in your hands, so get to work!

Do you have questions about creating a business plan, or have you already written one that works for your company? Let us know in the comments!

Kristen is the Publishing Coordinator for Tilt Publishing. Her role focuses on working closely with content creators to help them connect with their audiences and grow their brands through book releases and marketing initiatives. Outside of her office life, Kristen can be found tending to her houseplants, hanging out with her cats, and navigating the joyful chaos of motherhood.

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Book Business Plan Template & Guidebook

Are you ready to start writing your book business plan and make your dreams of becoming a published author a reality? This #1 Book Business Plan Template & Guidebook is the perfect place to start. With plenty of helpful tips, tricks, and strategies, this guide can help you write the best business plan for your book and give you the confidence you need to make it happen.

Get worry-free services and support to launch your business starting at $0 plus state fees.

• How to Start a Profitable Book Business [11 Steps]
• 10+ Best & Profitable Book Business Ideas [2023]
• 25 Catchy Book Business Names:

How to Write a Book Business Plan in 7 Steps:

1. describe the purpose of your book business..

The first step to writing your business plan is to describe the purpose of your book business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.

It also helps to include a vision statement so that readers can understand what type of company you want to build.

Here is an example of a purpose mission statement for a book business:

Our mission is to provide a wide selection of books that appeal to different audiences, while also offering a friendly and knowledgeable customer service experience to ensure reading satisfaction.

2. Products & Services Offered by Your Book Business.

The next step is to outline your products and services for your book business. 

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

• What is my business?
• What are the products and/or services that I offer?
• Why am I offering these particular products and/or services?
• How do I differentiate myself from competitors with similar offerings?
• How will I market my products and services?

You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your book business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals. 

A good marketing plan for your book business includes the following elements:

Target market

• Who is your target market?
• What do these customers have in common?
• How many of them are there?
• How can you best reach them with your message or product?

Customer base 

• Who are your current customers? 
• Where did they come from (i.e., referrals)?
• How can their experience with your book business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?

Product or service description

• How does it work, what features does it have, and what are its benefits?
• Can anyone use this product or service regardless of age or gender?
• Can anyone visually see themselves using this product or service?
• How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?

Competitive analysis

• Which companies are competing with yours today (and why)? 
• Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
• What specific advantages does each competitor offer over yours currently?

Marketing channels

• Which marketing channel do you intend to leverage to attract new customers?
• What is your estimated marketing budget needed?
• What is the projected cost to acquire a new customer?
• How many of your customers do you instead will return?

Form an LLC in your state!

4. Write Your Operational Plan.

Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations. 

In it, you should list:

• The equipment and facilities needed
• Who will be involved in the business (employees, contractors)
• Financial requirements for each step
• Milestones & KPIs
• Location of your business
• Zoning & permits required for the business

What equipment, supplies, or permits are needed to run a book business?

• Business license
• Computer and associated software
• Printer and scanner
• Book inventory
• Shipping supplies (boxes, envelopes, tape, etc)
• Office supplies (pens, paper, staplers, etc)
• Credit/debit payment processing software or services
• Online presence (website, social media accounts, etc)

5. Management & Organization of Your Book Business.

The second part of your book business plan is to develop a management and organization section.

This section will cover all of the following:

• How many employees you need in order to run your book business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
• The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
• How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!

6. Book Business Startup Expenses & Captial Needed.

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Typically, expenses for your business can be broken into a few basic categories:

Startup Costs

Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a book business varies based on many different variables, but below are a few different types of startup costs for a book business.

Running & Operating Costs

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

Marketing & Sales Expenses

You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your book business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your book business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses. 

Here are some steps you can follow to devise a financial plan for your book business plan:

• Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
• Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
• Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
• Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
• Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
• Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.

Frequently Asked Questions About Book Business Plans:

Why do you need a business plan for a book business.

A business plan is essential for a book business because it provides structure and helps to guide the company in making effective decisions and establishing successful strategies. It sets out goals, objectives, and strategies, forecasting finances, markets and operations. Additionally, a business plan helps to obtain crucial funding from potential investors. Finally, creating a plan can help you analyse potential risk factors that can affect the success of your business and make decisions to proactively address those risks.

Who should you ask for help with your book business plan?

It may be helpful to consult with a professional business consultant, financial advisor, accountant, or book industry expert who can provide guidance on the best approach for your book business plan. In addition, resources such as Small Business Development Centers (SBDCs) or SCORE Offices can provide additional assistance with developing and reviewing a business plan.

Can you write a book business plan yourself?

Yes, it is possible to write a book business plan without professional help. The key is to research the book publishing industry, determine your goals, create a marketing strategy and financial plan, and outline a timeline for completing the project. Additionally, there are many online resources that can provide guidance on the components of a successful book business plan.

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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.

Bookstore Business Plan Template

Written by Dave Lavinsky

Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their bookstores. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a bookstore business plan template step-by-step so you can create your plan today.

Download our Ultimate Bookstore Business Plan Template here >

What Is a Bookstore Business Plan?

A business plan provides a snapshot of your bookstore as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for Your Bookstore

If you’re looking to start a bookstore or grow your existing bookstore you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your bookstore in order to improve your chances of success. Your bookstore business plan is a living document that should be updated annually as your company grows and changes.

Source of Funding for Bookstores

With regards to funding, the main sources of funding for a bookstore are bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

The second most common form of funding for a bookstore is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan.

Finish Your Business Plan Today!

Your business plan should include 10 sections as follows:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of bookstore business you are operating and the status; for example, are you a startup, do you have a bookstore that you would like to grow, or are you operating a chain of bookstores.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the bookstore industry. Discuss the type of bookstore you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.

Company Analysis

In your company analysis, you will detail the type of bookstore you are operating.

For example, you might operate one of the following types:

• Traditional bookstore : the traditional bookstore maintains a broad inventory of books in a variety of genres and subjects.
• Religious bookstore : this type of bookstore stocks primarily religious books and accessories.
• Used bookstore : this type of bookstore sells books that have been previously owned.
• Specialty bookstore : this type of bookstore stocks books for a particular niche audience (i.e. New Age, Comic Books, etc.).

In addition to explaining the type of bookstore you operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

• When and why did you start the business?
• What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new store openings, etc.
• Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the bookstore business.

While this may seem unnecessary, it serves multiple purposes.

First, researching the bookstore industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards cookbook consumption, it would be helpful to ensure your plan calls for a substantial cooking section.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your bookstore business plan:

• How big is the bookstore business (in dollars)?
• Is the market declining or increasing?
• Who are the key competitors in the market?
• Who are the key suppliers in the market?
• What trends are affecting the industry?
• What is the industry’s growth forecast over the next 5 – 10 years?
• What is the relevant market size? That is, how big is the potential market for your bookstore. You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your bookstore business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: college students, sports enthusiasts, soccer moms, techies, teens, baby boomers, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of bookstore you operate. Clearly baby boomers would want a different atmosphere, pricing and product options, and would respond to different marketing promotions than teens.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most bookstores primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Bookstore Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other local bookstores.

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes online bookstores, ebooks, libraries, etc. You need to mention such competition to show you understand that not everyone who reads frequents a bookstore each day.

With regards to direct competition, you want to detail the other bookstores with which you compete. Most likely, your direct competitors will be bookstores located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

• What types of customers do they serve?
• What products do they offer?
• What is their pricing (premium, low, etc.)?
• What are they good at?
• What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to stand outside your competitors’ locations and ask customers as they leave what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

• Will you provide superior products?
• Will you provide products that your competitors don’t offer?
• Will you make it easier or faster for customers to acquire your products?
• Will you provide better customer service?
• Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a bookstore business plan, your marketing plan should include the following:

Product : in the product section you should reiterate the type of bookstore that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to books, will your bookstore include a cafe, where it will offer items such as coffee, espresso, bakery items, etc.?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the items you offer and their prices.

Place : Place refers to the location of your bookstore. Document your location and mention how the location will impact your success. For example, is your bookstore located next to a heavily populated office building, or gym, etc. Discuss how your location might provide a steady stream of customers.

Promotions : the final part of your bookstore marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

• Making your storefront extra appealing to attract passing customers
• Advertising in local papers and magazines
• Reaching out to local bloggers and websites
• Social media advertising
• Local radio advertising
• Banner ads at local venues

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your bookstore such as serving customers, procuring new books, keeping the store clean, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 5,000th customer, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch a new location.

Management Team

To demonstrate your bookstore’s ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in the bookstore business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in bookstores and/or successfully running retail and small businesses.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you serve 20 customers per day or 100? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your bookstore, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a bookstore:

• Location build-out including design fees, construction, etc.
• Cost of fixtures like shelving, seating, and cafe fixtures like grinders, espresso machines, blenders, refrigerators
• Cost of acquiring and maintaining an adequate inventory
• Payroll or salaries paid to staff
• Business insurance
• Taxes and permits
• Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your store design blueprint or location lease.

Bookstore Business Plan Summary

Putting together a business plan for your bookstore or an online bookstore business plan is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the bookstore business, your competition and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful bookstore.

Download Our Bookstore Plan PDF

You can download our bookstore business plan PDF . This is a business plan template you can use in PDF format.

Bookstore Business Plan FAQs

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Growthink's Ultimate Bookstore Business Plan Template allows you to quickly and easily complete your Bookstore Business Plan.

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You can download our bookstore business plan PDF template here . This is a business plan template you can use in PDF format.

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Other Helpful Business Plan Articles & Templates

Business Plan Template for Book Publishers

• Great for beginners
• Ready-to-use, fully customizable Subcategory
• Get started in seconds

Are you a book publisher looking to take your business to new heights? Whether you're a seasoned professional or just starting out, having a solid business plan is the key to success in the publishing industry. And ClickUp's Business Plan Template for Book Publishers is here to help you every step of the way!

With this template, you can:

• Outline your publishing goals, vision, and strategies
• Create detailed financial projections and budgets
• Identify target markets and develop effective marketing strategies
• Plan for distribution, sales, and author acquisitions
• Track progress and make adjustments to ensure success

Don't leave your publishing dreams to chance. Get the ClickUp Business Plan Template for Book Publishers today and turn your passion into a thriving business!

Business Plan Template for Book Publishers Benefits

A Business Plan Template for Book Publishers offers a range of benefits to help publishers successfully navigate the industry:

• Provides a clear roadmap for launching or expanding a publishing business, outlining the vision and goals.
• Assists in identifying target audiences, understanding market trends, and developing effective marketing strategies.
• Helps publishers analyze competition and differentiate themselves in the market.
• Allows for comprehensive financial projections, including revenue streams, expenses, and potential funding sources.
• Ensures a structured approach to managing operations, distribution channels, and author relationships.
• Facilitates strategic decision-making and adjustments based on market dynamics and industry shifts.
• Provides a professional document that can be shared with investors, partners, and stakeholders to secure funding and support.
• Enables publishers to demonstrate a deep understanding of their industry and the viability of their business concept.

Main Elements of Book Publishers Business Plan Template

When it comes to creating a business plan for your book publishing venture, ClickUp has you covered with a template tailored specifically for the industry. Here are the key elements of ClickUp's Business Plan Template for Book Publishers:

• Custom Statuses: Keep track of your progress with statuses like Complete, In Progress, Needs Revision, and To Do, ensuring your business plan stays on track.
• Custom Fields: Use custom fields such as Reference, Approved, and Section to add important details and track the status of each section of your business plan.
• Custom Views: Take advantage of five different views, including Topics, Status, Timeline, Business Plan, and Getting Started Guide, to organize and visualize your business plan in the most effective way possible.
• Document Collaboration: Collaborate with your team members and stakeholders using ClickUp's Docs feature, allowing you to work together seamlessly on your business plan.
• Task Management: Break down your business plan into actionable tasks using ClickUp's tasks feature, assigning responsibilities, setting due dates, and tracking progress every step of the way.

How To Use Business Plan Template for Book Publishers

Creating a business plan for a book publishing company can be a daunting task, but with the help of ClickUp's Business Plan Template, you can break it down into five simple steps:

1. Define your vision and mission

Start by clearly defining your vision and mission for your book publishing business. What is your ultimate goal? What do you want to achieve? This will help guide your decision-making process and set the tone for your business.

Use the Docs feature in ClickUp to write down your vision and mission statements for easy reference.

2. Identify your target audience

Next, identify your target audience for the books you plan to publish. Who are the readers you want to reach? What are their preferences and interests? Understanding your target audience will help you tailor your publishing strategies and marketing efforts accordingly.

Create custom fields in ClickUp to track important information about your target audience, such as demographics and reading preferences.

3. Develop your publishing strategy

Now it's time to develop a comprehensive publishing strategy. This includes deciding what genres and types of books you will focus on, establishing relationships with authors and agents, and determining your distribution channels.

Use the Gantt chart feature in ClickUp to create a timeline and visually plan out each step of your publishing strategy.

4. Create a financial plan

A solid financial plan is crucial for any business, including book publishing. Determine your startup costs, projected revenue, and expenses. Consider factors such as printing costs, marketing expenses, and royalties for authors. This will help you understand the financial feasibility of your business and make necessary adjustments.

Utilize the Table view in ClickUp to create a spreadsheet and track your financial projections and expenses.

5. Set goals and milestones

Lastly, set specific goals and milestones for your book publishing business. These can include targets for the number of books published, revenue generated, or market share gained. Break these goals down into smaller milestones to track your progress and keep yourself motivated.

Use the Milestones feature in ClickUp to set and track your goals and milestones, ensuring that you stay on track and celebrate your achievements.

By following these five steps and utilizing ClickUp's Business Plan Template, you'll have a comprehensive and well-structured business plan for your book publishing company.

Get Started with ClickUp’s Business Plan Template for Book Publishers

Book publishers can use the Business Plan Template for Book Publishers to create a comprehensive plan for their publishing endeavors.

First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a successful business plan:

• Use the Topics View to organize your plan into different sections such as market analysis, marketing strategies, and financial projections
• The Status View will help you track the progress of each section, whether it's complete, in progress, needs revision, or to do
• Utilize the Timeline View to set deadlines and milestones for each section of your plan
• The Business Plan View will give you an overview of your entire plan, allowing you to easily navigate and make updates
• Use the Getting Started Guide View to access helpful resources and tips on how to create a successful business plan
• Add custom fields like Reference, Approved, and Section to provide additional information and track important details
• Update statuses and custom fields as you work through your plan to keep stakeholders informed of progress
• Monitor and analyze your plan to ensure it aligns with your goals and objectives
• Business Plan Template for Technology Consultants
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Your Writer Platform

Build your platform. engage your fans. sell more books., your author business plan: a framework for the creative entrepreneur.

by Kimberley Grabas

Does the thought of writing a business plan make you wince?

You’ve been struggling valiantly through most of the non-writing, left-brained activities that have been thrust upon you as a modern writer – do you really need to go through the formality of crafting your “executive summary”, “sales forecasts” and “market analysis”?

Well…yes. (sorry)

But if you’d prefer to skip the spreadsheets in favour of a more “writer-friendly” planning process – because deep down you know you could use a bit more direction to move your writing career to the next level – you’re in luck!

I’ve designed this business plan framework with the creative entrepreneur in mind.

Yep, it’s still a business plan.

But I’ve tried to soften the corporate jargon, as well as give you ideas as to how you can use each section to grow your writing career.

I’ve also created a free downloadable workbook to guide you through the process and that you can complete at your own pace:

Click the image to download your free 30-page Author Business Plan workbook:

Prioritizing Your Business Plan To Get The Most Out Of Your Writing Career

It’s time to overcome your resistance to the idea that, as an author, your job is no longer just to write (if it ever was).

If you want to turn your passion for writing into a business, you’ll need to have a solid and strategic plan in place.

And a b usiness plan is simply a guide to what you hope to accomplish, how you plan to meet those objectives, and your financial projections based on these efforts.

It’s a field guide to your writing business – that you navigate with your readers in mind.

Here’s what you can expect a thorough business plan to help you accomplish:

It will help you to

• clarify and articulate a clear vision for your writing career, which will help guide your business actions and decisions
• nail down the specifics of what you need to get done to move your business forward
• share your strategies, priorities, and specific action points with others (agents, assistants, collaborators, or even your spouse)
• recognize and filter out the distractions, so you can concentrate only on those activities that will help you grow
• determine future needs ahead of time (software, skills, tech, or other resources) so that you can plan for the cost or time expenditure
• beat inertia and take confident action on those things you’ve determined will move your business forward
• notice opportunities to reward yourself for both small accomplishments and big wins

One of the most important (and often ignored) steps to effective goal setting and increased productivity, is to write your goals down and review them daily . This can be a game changer.

By dedicating the time to write your business plan – and review it frequently – you can change the trajectory of your writing career.

Developing Your Author Business Plan: The Key Components

Whether you are working toward a traditional publishing contract or self-publishing, a carefully crafted business plan will help you establish a plan of action, and guide how you will allocate your (often limited) resources.

A. BUSINESS VISION + AUTHOR BRAND

1. Mission Statement (Message)

Clarify your business values and vision. Define why you write and get very clear on the essence of your work–what problems are you solving or what desires are you satisfying? What is your promise to your reader and how will you deliver on that promise? (You can also include a “vision statement” that inspires you, and is a reminder of your purpose and your commitment to your writing career.)

2. Your Ideal Reader

Identify and define the group of people whom you wish to reach. How do they see themselves, and how does your work fit with that perception?  Who already ‘speaks your language’ or conversely, whom does your work speak to? We’ll be digging deeper into this in a later section of the business plan, so the information you gather will help to create a succinct description of your ideal reader here.

Related Content:  Identifying Your Target Audience: The Top 8 Mistakes Writers Make

3. Brand Personality and Culture

What is your brand story and personality? What do you want people to feel or experience when they read your book, a post on your blog, or see you speak at an event? What tone, colors, and visuals characterize your writing, and how does your branding reflect the purpose or message behind your work? What values, standards or best practices will you adhere to? What can your community of readers consistently expect from you in terms of your style, authenticity, voice, and professionalism? Make sure that your branding is relevant to the audience you seek, distinct and meaningful.

Related Content:  Discover and Build Your Author Brand

4. Career Goals, Objectives, and Expansion Plans

Many people do not even think of goals, and of those that do, very few write them down. Forbes reports a remarkable 10-year study about goal-setting carried out in the Harvard MBA Program.  Those students who wrote down their goals accomplished significantly more (i.e., earned on average, 10 times as much as the other 97 percent of the class combined). So write down your goals and objectives. Make sure they’re both S.M.A.R.T and what you really want. Are you willing–and able–to sacrifice the time and effort required to achieve what you’ve outlined? How will you determine your success?

B. BUSINESS DESCRIPTION + PUBLISHING PLAN

1. Your Difference

This is your secret sauce or unfair advantage. Describe who you are as a writer, and how you will portray that uniqueness to your audience. How do you solve their problem or desire and why is it valuable to your readers? The goal here is to answer the question in your reader’s mind, “Why you?”. What sets your work apart from others in your genre or niche? Develop your “brand story”.

Related Content: How to Build Your Brand From Scratch (And Why You Need To)

2. Who Do You Serve

Describe your target audience (demographics, psychographics), and how you can help meet the needs, wants, and desires of that specific group. Often writers make the mistake of working on their projects in a vacuum – with no feedback, input, or even acknowledgment of the reader. Another conundrum authors face, is writing in multiple genres, which makes building a community even more challenging. Note if either (or both) of these are concerns you face, and how you will address them going forward.

Related Content:  Thinking About Writing in Multiple Genres? Here’s What You Need to Know

3. Production

In this part of your business plan, include your writing, editing, and publishing schedule. How many words per day will you write, and at what times? If editing, how many hours per week will you devote? How many books do you plan to publish (and launch) this year? How often will you post new content to your blog or social media? Also note your genre focus, project lengths, and additional projects (workshops, courses, presentations, etc.) you plan to produce per year.

4. Business Structure

What is your writing business structure (sole proprietor, publishing company, or LLC, for example)?  Are you traditionally published, self-published, a hybrid author, or not yet published? Describe the components of your business, like books (digital, print, audio), courses, seminars, workshops (in-person/virtual), speaking, and so on. Is your business primarily online or offline?

5.   Business Tasks + Schedule

It’s important that you treat your writing business as a business . So make a list of regular tasks (everything from sales tracking and accounting, to editorial calendars and words written per day), and add them to your calendar, Asana , your day planner, or whatever system works for you.

6. Distribution Channels

You’ve defined your audience, so now you need to determine how they want to be reached. Where are they already and what are other ways that they will find you? Think social media, email, traditional media, video, podcasts, conferences and events, website, clubs, Amazon and other retailers, and so on.

Click to download your free 30-page Author Business Plan workbook :

C. MARKET ANALYSIS

1. Bestselling Authors/Comparable Titles in your Genre or Niche

Identify bestselling authors, top bloggers, and other influencers in your niche or genre. Look for those that already have the audience you want to reach (search through social media, relevant keywords, Facebook, and other groups). Who are the movers and shakers? The up-and-comers? Start making a list, including their contact info, website, and email. (These people may also become your partners and allies in the future.)

2. Pricing Models

What pricing model(s) are currently being used in your genre or niche? What are readers used to paying for books, products, or services similar to yours?

3. “Competitor” Strengths and Weaknesses

Choose 3-5 authors from the list you made in section C. 1., and break down their strengths and weaknesses. How do they reach and promote to their audience? Are there any strategies that many of your competitors seem to use (for example, are most of them using email marketing strategies)? What are they doing well and what can they improve? What can you add to the mix that draws upon your unique skill set and brand? Use this knowledge to craft your own, well-rounded strategy.

4. Trends and Opportunities

Note current events and what’s new and noteworthy in the publishing world. Note predictions and future trends that may impact your writing or bottom line. Are there any collaboration or partnership opportunities that you wish to pursue, both within your topic area and with industries or businesses that reach the same audience as you?

D. AUDIENCE RESEARCH

1. Identify Your Ideal Reader

Knowing your target audience has come up several times in this business plan–and for good reason. It is absolutely vital to the growth of your writing career to have a firm understanding of the audience you wish to reach. This section of your business plan informs the other sections, and it’s where you will get crystal clear on who your ideal readers are through research and data (not through guessing or assumptions). (Follow the link below for instructions on how to create an ideal reader persona.)

2. Understand Their Needs and Desires

Your goal is to understand and articulate your readers’ problems or desires better than they can themselves. But remember, this is their most pressing problem or desire, not yours.  Don’t try to create desire or interest where there is none. Outline how you will share your work in a way that encourages people who are already interested, to take action. (To gain a deeper understanding of your audience, spend time and ask questions of your “real” readers, engage in “social listening”, conduct surveys and examine your Google Analytics.)

3. Differentiate Yourself and Your Work

Given what you now know about your target audience, what is the intersection between your unique talents and your readers’ needs or desires? What can they get from you and your work that they can’t get anywhere else?

4. Determine How to Engage With Your Readers

It is much, much easier to create interesting, relevant, and valuable content for your audience now that you know exactly what they are searching for . You can’t possibly develop a marketing and book promotion plan when you have no idea who might be most receptive to your message. How will you learn (and continue to learn) about your readers, but still stay connected to the reasons for creating the work that you do?

E. COMMUNITY AND PLATFORM BUILDING

1. Social Media Plan

What are your (and your readers’) preferred platforms? Where will you place your emphasis and what strategies will you use to develop visibility and interest for your writing? What will you share, how will you create it, when will you share it, and where will you share it, to get the most engagement? (Create a specific plan for each social media platform you’ll engage on).

Related Content:  Social Media Strategy for Authors Plus 4 Tweets to Never Send

2. Email List Building Plan

Developing a responsive email list is one of the most important things you can do to grow your business and stay connected with your readers. What strategies will you implement to grow your list? How often will you communicate with your subscribers, what will you share and what opt-in incentive will you develop to encourage sign-ups? 

Related Content: The Writer’s Guide to Building an Email List

3. Content Strategy

A content strategy is your publishing plan of action for what to create , how to create it, when to create it, and for whom to create it. Develop an editorial or content calendar to map out and keep track of your content plan o’ action. Ensure your “brand story” is woven into the content you share.

4. Speaking, Appearances, and PR Plan

Keynote speeches, personal appearances, and other speaking opportunities all allow you to connect with your readers and fans in real life . Add presentations, interviews, and other appearances you have booked (or plan to book) into your business plan. What strategies will you implement to increase bookings?

5. Reviews, Testimonials, and Endorsements

What steps will you take to encourage reviews (ARCs, email requests, build relationships with influencers, and book bloggers)? How will you gather testimonials and endorsements for your work? Keep in mind that relationships take time to develop, so ensure you include steps to build these connections and goodwill before you ask for something in return.

Related Content: How to Get Reviews For Your Book (Without Begging, Bribing, or Resorting to Subterfuge)

6. Engagement + Exclusivity

How will you ensure your readers feel special? Will you offer special perks, bonuses, and a sneak peek behind the scenes? Or, create a street team or other type of “membership” for your most avid supporters? How is what you have to offer different from other authors in your niche, and how can you add more value? 

7. Networking and Relationship Building

Who are people talking about, sharing content from, and influenced by? What strategies will you use to develop relationships with industry influencers, advocates, and supporters of your work? How do you plan to build connections with organizations, institutions, schools, bloggers, reviewers, businesses, and media outlets? 

F. OFFERINGS + MONETIZATION

1. Your Products and Services

What will you offer to your audience? Books (digital, audio, print, series, bundles), services (speaking engagements, teaching at conferences, and hosting workshops) courses, freelance work, or other products and programs that relate to your work? How will your readers benefit? How will it impact their lives? Given what you’ve discovered about your target audience, will they want, need or desire what you have to offer?

2. Pricing Strategy

What pricing strategy will you employ? Premium, freemium (free + premium), permafree, or discount pricing? Given your goals for your business, will your pricing strategy help you meet your objectives? Does your pricing meet or challenge genre standards? How will your target audience view your pricing? Map out your pricing structure for your books, services, courses or workshops, series, and bundles.

Related Content: Pricing 

3. Collaboration and Partnerships

Affiliate marketing, book bundles, co-writing, and cross-promotion (via email lists) are all great ways to boost your business, visibility, and sales. What methods will you use to develop partnerships and encourage collaborations with other authors?

G. MARKETING STRATEGY

1. Marketing and Promotion

In this section, outline the methods you’ll employ to market and promote your books, products, content, and brand. You’ll want to develop a separate book marketing strategy for each book, as well as an overall strategy that ties current projects together with future plans for your writing career.  

Related Content: 71 Ways to Promote and Market Your Book

2. Resource Commitment

Finding time to write is difficult enough, but your business won’t run itself. You need to schedule time and resources for both the writing side of your business and the marketing side (and then squeeze in family and personal commitments, too 😉 ). How much time, money and other resources are you prepared to realistically commit? 

Related Content:  The Big Question: How Can I Build My Platform and Still Have Time to Write?

3. Launch Strategies

Designing, organizing, and implementing a book launch action plan is not easy. There are a lot of moving parts, so it requires the careful preparation (and execution) of just the right mix of launch activities to propel your new book out into the world. Layered launch strategies (where you use the momentum from one launch to boost the next) can create urgency and excitement, and further establish your brand, message, and authority. What actions will you take to leverage the assets and relationships you’ve established through your marketing activities to promote an upcoming book?

Related Content: Launch Strategy for Authors

H. FINANCIALS

1. Monthly Expenses

Make an itemized list of all the things you will need for your business to run monthly (website, hosting and domain name, email marketing service, business cards and other promotional items, office supplies, membership dues, etc.). If you are saving for some larger future expense (computer, software, cover design ), then note this in your budget, as well.

2. Monthly Revenue

Record your monthly income from all sources related to your writing business (royalties, freelance work, affiliate income, speaking, etc.). At first, this may seem like an exercise in futility, but with a solid business plan in place, you’ll soon start to see your revenue streams grow. 🙂

3. Production Budget (Per Book or Project)

Copyediting , line editing, proofreading, formatting for publishing, formatting for print, cover art, copyright registration, ISBNs, review copies, shipping, and research costs can all be budgeted on a per-book basis. These input costs will help you determine the potential viability (and profitability) of each project. If you also have a website and blog, there may also be production costs for blog posts, email newsletters, and other items (image or graphic fees, costs for giveaways, apps or software, etc.).

4. Sales + Income Projections

If you’re just starting out, creating sales projections may be difficult to do, but it’s certainly a good habit to develop if you’d like to ensure you’re making good business decisions. Forecasting is vital to planning sales, marketing, and spending. (For a free Amazon sales rank tracker, try NovelR ank.com  or SalesRankExpress.com .)

I. ADDITIONAL GROWTH + EXPANSION STRATEGIES

1. Professional Development

Your talent is your best asset. Continuing to improve upon both your writing AND your business skills, is a wise investment. Use this section of your business plan to note any classes, workshops, or conferences you plan to attend, if you plan to find a critique partner or writer’s group to join, or even add specific books you plan to read (for genre or topic research, or to gain additional skills).

Related Content: 39 Things to Remember When Struggling to Build Your Writing Career

2. Paid Advertising and Other Paid Options

Paid advertising, hiring a publicist, or anything else that requires cold hard cash upfront–without a guarantee of return–may not be on the top of your priority list. However, if you are considering some paid options, ensure you note your strategies here. Tracking your return on investment may be easier for some options than others, but it’s always wise to note your efforts and results.

3.   Repurposing

Continuously developing new content can take a lot of effort. Get more mileage out of the excellent content you produce (articles, newsletters, blog content, short stories, guides, updates, videos, etc.) by repurposing it into something fresh. You can change the format, share it on different mediums, turn a book or post into a course or workshop, and reach all new audiences. How will you stretch and repurpose each piece of content you create?

Related Content:  Create Great Content? How to Get More From It Through Repurposing

4. Outsourcing

Wise outsourcing can not only increase your efficiency and help level the playing field, but it allows you to focus on the core of your business–your writing. If you decide to outsource, determine what tasks you’ll pay someone else (editors, virtual assistants, designers, accountants, etc.) to handle.

Writing Your Author Business Plan Doesn’t Have to Be Hard

Kudos to you for making it this far! It may seem like a daunting task to compile your business plan, but I assure you it is well worth the effort.

Plus, your plan can be developed over a period of time and doesn’t have to be nailed down all in one sitting.

A business plan is fluid and ever-evolving. As new info comes in, circumstances change, or as results and analysis dictate, adjust your business plan accordingly. Remove sections from this plan that you feel don’t apply, and add sections that you feel are more relevant to your specific business needs.

Review and re-examine your plan on a regular basis to help keep yourself–and your writing career–on track.

And be sure to reward yourself when you’ve reached certain milestones and objectives. You’ll have most certainly earned it!

Questions? Comments? Please share your thoughts below.

Reading through your posts can be long and tedious, especially for people like me who always take notes. But in the end, it’s worth it. Thanks for another awesome post.

Yes, I’m nothing if not thorough… 😉

That’s why I’ve included the workbook – all the info, without the need to write it all down yourself.

This is just awesome .. Love it!!

Happy to hear it, Ashima. Hope you can put the plan to good use! 😉

Thanks so much, Kimberley! This is super helpful and so timely — my community of Queens, NY, is conducting a business plan competition with nice prize money. Glad to have your insights and guidance in the final days of preparation.

http://www.queensbooks.nyc

My pleasure John! 🙂

I was hoping to grab this fabulous download, but when I entered my email address and went through to the next page, the error message said the pdf could not be found. I thought this was because I was on mobile, but I tried several times on my PC and it still was appearing as not found.

My apologies Kieran – there is a bit of a glitch with the media file. Shoot me a quick email (Kim-at-YourWriterPlatform.com) and I’ll send it to you directly.

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It’s that simple.

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Publishing Company Business Plan

Soaring high demands, a wide target audience, and attractive revenue sources make the publishing business a lucrative and rewarding opportunity.

Anyone can start a publishing company. But if one wants to achieve revenue and growth goals with their reputed publishing business, they need a detailed business plan in action.

Need help writing a business plan for your publishing company business? You’re at the right place. Our publishing company business plan template will help you get started.

Free Business Plan Template

Download our free business plan template now and pave the way to success. Let’s turn your vision into an actionable strategy!

• Fill in the blanks – Outline
• Financial Tables

How to Write A Publishing Company Business Plan?

Writing a publishing company business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready and summarizes each section of your plan.

Here are a few key components to include in your executive summary:

Introduce your Business:

Start your executive summary by briefly introducing your business to your readers.

Market Opportunity:

Products and services:.

Highlight the publishing services you offer your clients. The USPs and differentiators you offer are always a plus.

Marketing & Sales Strategies:

Financial highlights:, call to action:.

Ensure your executive summary is clear, concise, easy to understand, and jargon-free.

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2. Business Overview

The business overview section of your business plan offers detailed information about your company. The details you add will depend on how important they are to your business. Yet, business name, location, business history, and future goals are some of the foundational elements you must consider adding to this section:

Business Description:

Describe your business in this section by providing all the basic information

Describe what kind of publishing company you run and the name of it. You may specialize in one of the following publishing company businesses:

Trade Publishing

Educational and academic publishing, boutique publishing, digital publishing.

• Describe the legal structure of your publishing company, whether it is a sole proprietorship, LLC, partnership, or others.Explain where your business is located and why you selected the place.

Mission Statement:

Business history:.

If you’re an established publishing company service provider, briefly describe your business history, like—when it was founded, how it evolved over time, etc.

Future Goals:

This section should provide a thorough understanding of your business, its history, and its future plans. Keep this section engaging, precise, and to the point.

3. Market Analysis

The market analysis section of your business plan should offer a thorough understanding of the industry with the target market, competitors, and growth opportunities. You should include the following components in this section.

Target market:

Start this section by describing your target market. Define your ideal customer and explain what types of services they prefer. Creating a buyer persona will help you easily define your target market to your readers.

Market size and growth potential:

Competitive analysis:, market trends:.

Analyze emerging trends in the industry, such as digitization, interactive media like AR and VR, etc. Explain how your business will cope with all the trends.

Regulatory Environment:

Here are a few tips for writing the market analysis section of your publishing company business plan:

• Conduct market research, industry reports, and surveys to gather data.
• Provide specific and detailed information whenever possible.
• Illustrate your points with charts and graphs.
• Write your business plan keeping your target audience in mind.

4. Products And Services

The product and services section should describe the specific services and products that will be offered to customers. To write this section should include the following:

Describe your products:

Mention all the products that will be provided by your publishing company. This list may include products like,

• Books, academic papers, magazines, etc.
• Video games

Describe your services:

Mention the publishing services your business will offer. This list may include services like,

• Reviewing and Editing
• Printing and Production
• Marketing and Promotion
• Consultation

Quality measures:

This section should explain how you maintain quality standards and consistently provide the highest quality service.

Additional Services:

In short, this section of your publishing company plan must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Unique Selling Proposition (USP):

Define your business’s USPs depending on the market you serve, the equipment you use, and the unique services you provide. Identifying USPs will help you plan your marketing strategies.

Pricing Strategy:

Describe your pricing strategy. A publishing company adapts one of the following or a mix of pricing strategies to stay competitive and profitable.

• Retail pricing
• Dynamic pricing
• Subscription models
• Freemium pricing
• Tiered pricing

Marketing Strategies:

Sales strategies:, customer retention:.

Overall, this section of your publishing company business plan should focus on customer acquisition and retention.

Have a specific, realistic, and data-driven approach while planning sales and marketing strategies for your publishing company business, and be prepared to adapt or make strategic changes in your strategies based on feedback and results.

6. Operations Plan

The operations plan section of your business plan should outline the processes and procedures involved in your business operations, such as staffing requirements and operational processes. Here are a few components to add to your operations plan:

Staffing & Training:

Mention your publishing business’s staffing requirements, including the number of employees needed. Include their qualifications, the training required, and the duties they will perform.

Operational Process:

Equipment & machinery:.

Include the list of equipment and machinery required for the publishing company, such as printing machinery, scanners and digital imaging equipment, storage systems, etc.

Adding these components to your operations plan will help you lay out your business operations, which will eventually help you manage your business effectively.

7. Management Team

The management team section provides an overview of your publishing company business’s management team. This section should provide a detailed description of each manager’s experience and qualifications, as well as their responsibilities and roles.

Founders/CEO:

Key managers:.

Introduce your management and key team members, and explain their roles and responsibilities.

Organizational structure:

Compensation plan:, advisors/consultants:.

Mentioning advisors or consultants in your business plans adds credibility to your business idea.

This section should describe the key personnel for your publishing company services, highlighting how you have the perfect team to succeed.

8. Financial Plan

Your financial plan section should provide a summary of your business’s financial projections for the first few years. Here are some key elements to include in your financial plan:

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:.

Determine and mention your business’s break-even point—the point at which your business costs and revenue will be equal.

Financing Needs:

Be realistic with your financial projections, and make sure you offer relevant information and evidence to support your estimates.

9. Appendix

The appendix section of your plan should include any additional information supporting your business plan’s main content, such as market research, legal documentation, financial statements, and other relevant information.

• Add a table of contents for the appendix section to help readers easily find specific information or sections.
• In addition to your financial statements, provide additional financial documents like tax returns, a list of assets within the business, credit history, and more. These statements must be the latest and offer financial projections for at least the first three or five years of business operations.
• Provide data derived from market research, including stats about the publishing company industry, user demographics, and industry trends.
• Include any legal documents such as permits, licenses, and contracts.
• Include any additional documentation related to your business plan, such as product brochures, marketing materials, operational procedures, etc.

Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.

Remember, the appendix section of your publishing house business plan should only include relevant and important information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

This sample publishing company business plan will provide an idea for writing a successful publishing company plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready business plan to impress your audience, download our publishing company business plan pdf .

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Importance of Business Plan Location

Frequently asked questions, why do you need a publishing company business plan.

A business plan is an essential tool for anyone looking to start or run a successful publishing company business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your publishing company.

How to get funding for your publishing company business?

There are several ways to get funding for your publishing company business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are

Small Business Administration (SBA) loan

Crowdfunding, angel investors.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your publishing company business?

There are many business plan writers available, but no one knows your business and ideas better than you, so we recommend you write your publishing company business plan and outline your vision as you have in your mind.

What is the easiest way to write your publishing company business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any publishing company business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software .

How do I write a good market analysis in a publishing company business plan?

Market analysis is one of the key components of your business plan that requires deep research and a thorough understanding of your industry. We can categorize the process of writing a good market analysis section into the following steps:

• Stating the objective of your market analysis—e.g., investor funding.
• Industry study—market size, growth potential, market trends, etc.
• Identifying target market—based on user behavior and demographics.
• Analyzing direct and indirect competitors.
• Calculating market share—understanding TAM, SAM, and SOM.
• Knowing regulations and restrictions
• Organizing data and writing the first draft.

Writing a marketing analysis section can be overwhelming, but using ChatGPT for market research can make things easier.

What's the importance of a marketing strategy in a publishing company business plan?

Marketing strategy is a key component of your publishing company business plan. Whether it is about achieving certain business goals or helping your investors understand your plan to maximize their return on investment—an impactful marketing strategy is the way to do it!

Here are a few pointers to help you understand the importance of having an impactful marketing strategy:

• It provides your business an edge over your competitors.
• It helps investors better understand your business and growth potential.
• It helps you develop products with the best profit potential.
• It helps you set accurate pricing for your products or services.

About the Author

Vinay Kevadiya

Vinay Kevadiya is the founder and CEO of Upmetrics, the #1 business planning software. His ultimate goal with Upmetrics is to revolutionize how entrepreneurs create, manage, and execute their business plans. He enjoys sharing his insights on business planning and other relevant topics through his articles and blog posts. Read more

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