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 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, money, and 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.
Let's get started with an important question.
What is Business Plan Sample?
A sample business plan is a pre-written document that consists of an outline of all sections that you should include in your business plan. It also contains a step-by-step guide and sample text about what you should write in each section of your business plan. And that makes the business plan writing easier and faster.
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.
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.
That’s why we created business plan examples to help you get started.
Why you should refer a business plan example?
A Business plan example will provide you with the complete format and structure for your document, giving you a head start on developing your document so you’re not stuck seeing 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 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. Business 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.
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 Business Plan Examples?
Well Everyone, who wants to write a business plan should use these sample business plans. These plans apply to almost all industries.
Remember, these sample business plans may not include 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 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 business plan templates and business plan examples for almost all business industries.
How to use Business Plan Examples to write your own?
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 best 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 an exact match for your business. you can copy related business plan examples and modify their content to write your own.
Use examples as a guide
Every startup and business is different in its way, so avoid copying a sample business plan word for word. It won't be helpful as your marketing activity, team members, business goals, 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.
Learning resources for Educators and Students
Are you an educator trying to figure out how to explain functional business planning to your students? If yes, then Upmetrics can help you!
Upmetrics takes the hassle of making presentations and forecasting spreadsheets out of the way and helps you teach what really matters.
As our software does the tedious tasks for your students, they get an opportunity to develop analytical skills that will help them deal head-on with their business problems.
Apart from that, Upmetrics is easy to use and comes with step-by-step guide. And the best part, your students can keep customizing their plans as per the needs of their business and keep track of all of their long-term and short-term goals.
Using your Business Plan as a Management Tool
Remember, a business plan is not just a document that you write to attract investors or impress your audience. But it's your companion on your business journey. Your business plan will help you stay focused on your business goals and help 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.
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 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 change.
For example, you must update your business plan if you secure investment, hire important board members or partners, plan to implement new marketing or sales strategies or add new products to your business. This will help you and your team to plan for the future.
How Business Plan Software can help you?
We have created Upmetrics — business plan software to simplify the process of business planning.
Our business plan builder allows you to write and 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 sections and charts will make your document visually attractive.
Our financial forecasting module will create all the essential reports automatically. You just need to enter numbers and the application will do all the math to generate your financial reports. Later you can embed those reports into your business plan.
After completing your business plan, you can download your business plan in PDF or DOC file using Upmetrics. Also, you can share it online with investors or with other important people just by a quick link.
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
1 What is sample business plan?
A sample business plan is a pre-written document that consists of an outline of all sections that you should include in your business plan. It also contains a step-by-step guide and sample text about what you should write in each section of your business plan.
2 How do I write a business plan?
In business plan writing you will need to write the following sections into your business plan. These sections include an Executive Summary, Company Overview, Problem Analysis, The Solution, Market Analysis, Customer Analysis, Competitive Analysis, SWOT Analysis, Marketing Plan, Operations Plan, and Financial Plan.
Check out our article to learn how you can write these sections in detail for your business plan.
3 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 business plan matters more than its length.
4 Should I hire someone to write my business plan for me?
Absolutely No, You as a business owner know all about your business idea, your business goals, target market and audience, and what you want to achieve by writing your plan. Don't hire someone who doesn't know what your readers will want, the reason is that, if you intend to raise funds, you are the best person that understands what investors will look out for in your business plan.
Consultants or business plan writers definitely can write a business plan but not better than you.