Against popular belief, a business plan is not just for convincing investors and getting funded. It also helps you get your idea on paper, study the market, and to make business strategies that work.
But at the same time writing a long business plan might look like a herculean task to the majority of us. Don't worry! If you want to start a business and don't need funding at the moment you can go ahead with a mini business plan.
A mini business plan helps you set goals, formulate effective strategies to achieve them, and understand your business better as a whole.
Advantages of a mini business plan
Though you might feel that fitting in all of your business details in a mini business plan is a challenging task, or you won't be able to include everything you want to. But a mini-plan works if you are just starting out.
Moreover, it also has some advantages as follows:
- It helps you get started faster. Although a traditional business plan helps, it definitely takes time to chalk out one. And with a hundred things to do while starting a business, that might be the last thing you want to worry about.
- It is better than getting started with no plan at all. A mini business plan covers all the important aspects of studying the market, setting goals, and making strategies for achieving them. Also, it provides a base for chalking out a traditional plan as your business grows.
- It helps you understand your business better. Writing down a plan helps you pay attention to the fine details that can have an impact on your business. It helps you get to the root of the problem and get solutions that work.
- It helps you understand market opportunities and threats. A mini business plan is straightforward and to the point. Hence, it makes it easier for you to focus on what matters the most in the market.
- It helps you understand your target audience and competitors. Getting to know your target audience and competitors, helps you stay at the top of your game at all times.
Tips for writing a well-rounded mini business plan
If you are ready to get started with your mini business plan, here are a few tips to help you along the way:
- Keep it short. Remember that for a mini-plan to fulfill its purpose of clarity and speed you'll have to think about if the data is essential to your business or not before you add it.
- Give everything a thought. Thinking about why you have a particular goal, why you want to accomplish it, who is your target audience and how your product can help them, and most importantly what would motivate them to pay for it is important to make an effective business plan.
- Take time for studying the market. Though speed is a major reason for writing a mini business plan, you shouldn't hurry with your market research. Ensure that you are doing it properly. Because incomplete market research leaves room for assumptions. And not making your strategies based on facts might not work in your favor in the long run.
Mini business plan outline
Mini business plan template contains the following sections:
- Background Information
- Team members
- My line of business
- I want to sell these products
- Product or services
- Solution & features
- My customers are
- I will find and get in contact with my customers this way
- I am different from my competitors in these ways
- The three biggest resources I give my business
- The five questions I most urgently need an answer to
After getting started with Upmetrics, you can copy this mini business plan and write your content, and can download your mini business plan pdf or doc file.
It's the fastest and easiest way to write your business plan.
Ready to Start Your Planning?
Now that you know how to write a business plan, it's time to create one for you.
Remember that problem and market analysis are essential, but implementation is what counts. Go through the process explained in this guide to start planning for your business.
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 need to enter numbers, and the application will do all the math to generate all your financial statements. 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 with Upmetrics. You can also share it online with investors just by a quick link.
Customize your Business Plan
All businesses are different. So, don't hesitate to customize your business plan according to your requirements.
Even though our sample business plans are to help you create the perfect presentation for your clients and investors, it is finally up to you to decide how you're going to present your ideas in the best light.
Business Planning Resources
We have plenty of free business planning resources available to help you with your planning. You can download our resources to learn all about business planning.