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Ok, so you have a great idea and want to start a business? What is the first thing you will need to start your new startup?
The answer is very simple.
It's an informal business plan that can convince you that your idea makes sense to the outside world because you are investing your time, your money, and your everything into that idea.
To write a business plan, maybe you think you don't need a step by step guide or a business plan template. After all, some entrepreneurs achieved success without writing a business plan. With great timing, past business experiences, entrepreneurial ambitions, and a little luck, some entrepreneurs build successful businesses without even writing an informal business plan.
But the odds are greater than those entrepreneurs fail.
Does a business plan make startup success inevitable? Definitely No.
But great business planning often creates the difference between success and failure. Entrepreneurs should do everything possible and tick all the boxes to set the platform for success.
The easiest way to simplify the work of writing a business plan is to start with sample business plans.
You’re already investing time, money, and efforts in planning your business — there’s no need to reinvent the wheel when it comes to writing your plan.
Instead, use the properly defined structure and format which is created by other entrepreneurs who have come before you, to build a complete and effective plan.
Business owners often write a business plan to secure investment, but many other entrepreneurs find writing a plan worthwhile, even if they never work with an investor. That’s why we created a sample business plans to help you get started.
Why you should use Sample Business Plans?
Sample business plans will provide you with the complete format and structure for your business plan, giving you a head start on developing your document so you’re not stuck seeing at an empty page working to find out where to start.
Also, it gives you the overall layout of a professional business plan so you understand what goes where and you're not leaving out anything.
Here are some of the key benefits of using a sample business plans:
- Guidance on what to include in each section. If you've never attended business school, you might never have created a SWOT analysis or a balance sheet before. Templates that give guidance — in plain language — about what to include and how to fill in each section and create a complete and effective plan.
- A business plan is vital to get an investment. If you're seeking investment for your business, you'll need to convince banks and investors why they should invest in your business. Lenders and investors will only risk their time and money if they're certain that your business will be successful and profitable and they will get a great return on their investment.
- A business plan can help you prioritize. A complete, well-balanced business plan is one of the most valuable tools in assisting you to reach your long-term goals. It gives your business direction, defines your goals, outlines out strategies to reach your goals and helps you to manage possible bumps in the way.
Creating a business plan will help you define the business goals you want to achieve, and define the strategies to achieve them. This means you can focus your resources and energy on what is important, rather than wasting time on unimportant things.
It's essential to have a business plan, but it's also crucial to keep it up to date as your business progresses. A business plan is not merely a document that you write once and forget it after you get started. It's a business road map and vision that you should develop as your business progresses and evolves. It's also important to update your business plan regularly as your business situation and position changes.
If you're working with a team in your company then having a regular brainstorming session is the best way to keep your business on track and your business plan assures you're all on the same page.
Who should use Sample Business Plans?
Well Everyone, who wants to write a business plan should use these sample business plans. These sample business plans can be used for almost all industries.
Remember, these sample business plans may not include the specific details for potential investors or lenders. If you are writing a business plan to secure investment, verify with your target organizations — may be banks or investors — to understand if they have a particular template or guidelines that you need to attend to maximize your odds of success.
While no two businesses are the same, seeing what other entrepreneurs who have come before you often help clarify questions and generate ideas.
Use our upmetrics — business plan software that offers step by step guide to start writing your business plan, especially if you're writing an informal business plan to get a bank loan or outside investment.
Our extensive sample business plans library includes both business plan templates and business plan examples for almost all business industries.
How to use Sample Business Plans?
if you’re a newbie to all these business writing and planning processes and just want a quick idea of what a professional business plan looks like and want to get started quickly and economically, then using a sample business plan is the greatest way to get started.
These sample business plans, you can copy into your business plan after getting started with upmetrics. Every business is different, so you don't need to find exact match sample business plan for your business. you can copy related business plan example and modify it's content to write your own.
Use a Sample Business Plans as a Guide
Every startup and business is different in their way, so avoid copying a sample business plan word for word. It won't be helpful as your marketing activity, financing data, etc will be different.
One of the fundamental benefits of writing a business plan is simply going through the process of planning. Filling out your own thoughts will help you catch and include small yet potent details in your business plan that you otherwise might not have noticed.
Business Planning is Management Tool
Remember, a business plan is not just a document that you write to attract the investors for your business. But it's your companion on your business journey. Your business plan will help you stay focused on your business goals and helps you strategize and plan your efforts to achieve those goals.
Your business plan will help your team to see and visualize your vision and help them to understand what they are working to achieve even if they are working with you or remotely.
Once you write your business plan, it is equally important to update it as and when your business position or situation changes. for example, you must update your business plan if you secure investment, hire important board members or partners, planning to implement new marketing or sales strategies, or adding new products to your business. This will help you and your team to plan for the future.
Upmetrics — Business Plan Software
We have created upmetrics business plan software to simplify the process of business planning. It's a powerful tool that allows you to customize your business plan. Our sample business plans and inbuilt help tips will help you to get started with your writing even if you are no expert.
Our business plan software is very easy to use, you can use our sample business plans and drag and drop additional sections into your business plan to write your business plan in no time.
Ready to take the next step?
Now that you have a business idea and you know how to write a business plan, it's time to go for it. Our business plan software will take you through each step outlined above in more detail so there are no surprises on your journey.
Whether you're starting or growing your business, after reading your business plan you'll be ready to take the next step to success.
Frequently Asked Questions
Let's not waste your creative time for common questions, we already answered all possible common questions. No, still got questions ? cool, goto last answer
1 What is a business plan?
A business plan is simply a document that contains a summary of your business goals and a roadmap showcasing how you aim to achieve them. It contains your company’s objectives, goals, strategies, marketing tactics, sales and financial forecast, and details of your target customers.
2 What is a business plan template?
A business plan template is a predesigned one page document that consists of an outline of all the things you are supposed to include in your business plan. It gives you an idea of what all things will help you create a well rounded plan. Also it makes writing a business plan easier and faster. A business plan template helps you craft a well organised plan.
3 How do you write a business plan?
4 Why do I need a business plan?
Having a business plan helps when you're seeking a loan or investments as it instils trust that your business idea has potential. It helps reduce the risk factor, set achievable goals, and helps you manage the finances of your business.A business plan is beneficial for entrepreneurs of any industry. Drafting your business plan will help better navigate your business.
5 What is the best business plan template?
It depends on your requirements. For instance, if you are a startup, then you’d benefit more from a startup business plan. For a quick one-page business plan, you can use a lean business plan. In case you’re applying for a loan, then an SBA business plan gets the job done. If you’re looking for an elaborate one that you want to present to others, you opt for a traditional business plan.
6 Should I hire someone to write my business plan for me?
Again, it depends. If you are well aware of the process and have an ample amount of disposable time in your hands, then you can draft your business plan all by yourself. On the other hand, if you don't know the process and need a professionally written business plan, you can hire a freelancer, an expert,or a business strategy company—depending on your budget and time constraints.
7 Where can I find sample business plans?
There are numerous websites that provide samples. A quick Google search can help you find the perfect sample based on your business requirements. You can take a look at these sample business plans to get started now.
8 What are the guidelines while writing a good business plan?
A few things to remember while drafting your business plan are to keep it short and crisp, realistic, creative, and make it adaptable. You will need to constantly revise your plan as your business grows. Prioritize concisenessover length. This way, you ensure that your business plan is easily interpretable and gets the message across.
9 Where do I find market research, industry, and competitor information for my plan?
10 In what order should I write the sections for my business plan?
11 Should I use business planning software?
You don’t necessarily need a business planning software; a good business plan template should be enough to serve your needs. However, if your needs are quite expensive and you intend to customize your business plan regularly, a business planning software can help ease the work load.
12 How long should my business plan be?
The length of your business plan depends on the type of plan you choose. There are one-page business plans that offer easy and practical planning. Then you have traditional business plans that usually vary from 20 to 50 pages. It’s worth noting that the quality of your plan matters more than its length.