The prospect of starting a business or growing an existing one can be exciting and intimidating at the same time. And if you are reading this, chances are that you are ready to take that step towards making your business dreams real using the Business Plan Template for Small Businesses.
Now, next up you’ll start planning your business to help you begin on the right foot and take better business decisions for increasing your chances of success.
And if you are looking for a little help before getting started, you are at exactly the right place. We all know that a business plan would affect every aspect of your business and through this article, we’ll tell you how to write a better and more efficient business plan using a business plan template for small businesses.
Before you start writing a business plan, spend as much time as you can reading through some sample business plans.
Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business goals.
Why do you need a business plan template?
Now you may wonder how useful a business plan template can be? And is it worth the time and effort to have one when you have a hundred other things to do?
Well, let us tell you that a template would not only prevent you from getting stuck while writing your plan but also help you plan faster by providing a predesigned framework of areas you need to work on and research on.
All in all, it helps you systematically organize your research and thoughts. It also helps you write a plan that is presentable and can be used for pitching your business idea to your investors and other stakeholders.
What are the pros and cons of using a business plan template?
Like every other tool and technique, a business plan template has its pros and cons. Some of which are as follows:
- It gives you a layout for your business plan, hence speeding up your planning process.
- It ensures that you don’t miss out on any important details.
- You can customize it as per your needs and requirements.
- There are several well-designed and free templates available on the internet.
- It makes your plan look generic if you don’t give it enough thought.
- You’ll have to look after your finances separately.
- You’ll have to integrate several elements like charts, graphs, spreadsheets, and tables for analyses that come inbuilt in business planning software.
How to use a business plan template?
A business plan template can be used to get an idea of what you should add to your plan, what would be its flow and structure, and it would also move forward whenever you get stuck somewhere.
But at the same time, you should also bear in mind to not depend on it more than necessary. Also, you’ll have to change it as per your business as no two businesses work in the same way.
Chalking Out your Business Plan.
If you are planning to start a small business, the first thing you will need is a business plan.
We have created this small business plan template for you to get a good idea about how a perfect small business plan should look like and what details you will need to include in your stunning business plan.
As a small business owner, you must focus on your business growth, and you can only grow as a business by having a clear business plan with a specific set of goals that you hope to achieve in the future years.
With our small business plan template, you will have the business plan builder tool that you can use to write your business plan and present that business plan to the world. This way, you will be able to execute your plan towards success in your entrepreneurial path.
Now you know that the importance of writing and presenting your small business plan, here is the outline of the sections that should be in a small business plan.
Small Business Plan Template Outline
- Executive Summary
- Business Description
- Mission Statement
- Plan Summary
- Capital Request
- Business Description
- Business Overview
- Business History
- Ownership Structure
- Production System
- Customer Service
- Inventory Management
- Licenses, Permits & Regulations
- Patents and Trademarks
- Risk Management
- Environmental Issues
- Quality Control
- Implementation Timeline
- Market Trends
- Market Segments
- Target Market
- Market Size & Growth
- Marketing Plan
- Marketing Contracts
- Strategic Partners
- Competitive Advantage
- SWOT Analysis
- Management & Organization
- Management Team
- John Doe
- Board of Directors
- John Doe
- Advisory Board
- John Doe
- Personnel Plan
- Professional Services
- Management Team
- Financial Plan
- Financial Position
- Historical Performance
- Financial Projections
- Income statement
- Balance Sheet
- Capital Request
Let's understand each section in detail.
Executive Summary is the first page of your business plan. It is used to give a brief overview of your business to your investors and stakeholders. In short, if you want to explain your business idea to anyone in under 10 minutes an executive summary can help you.
It is also the only page that your investors might read. Hence, it is important to write an impressive executive summary if you want to get funded.
Next up you would cover an overview of your business’s structure. It consists of a summary of all the structural aspects of your business. It helps you sort out everything from your business’s legal structure to the structure and hierarchy of your team.
The operations plan gives you an idea of what a normal day at your business would look like. It lays down the foundation for what you’ll work upon as a business. Here you’ll note down your long-term goals and milestones to achieve them.
It helps you take the right steps towards achieving your goals as well as tracking your progress.
The market research section of a business plan template gives you an overview of topics you need to research upon before you plan and start your business. This section comes in handy when you are making your marketing strategies and plans.
It also helps you learn from your competitor’s mistakes and effective strategies and make better business decisions.
After you have done your research next up you’ll write your marketing plan section. This section explains how you’ll use your resources and time to promote your business, and why you feel a certain strategy would work.
Although marketing largely works on assumptions, it's always good to have a certain framework you can go by.
Management and Organization
This includes how you’ll manage your organization and team. It should also have a framework for onboarding new employees and tracking their progress. It’ll help you understand the people in your organization better.
A financial plan is an essential part of your business plan. It helps you sort your priorities, know your funding requirements, etc. It also helps you avoid cash crunches and financial hassles in your business journey.
A business plan template can be of great help while you plan your small business if you use it the right way. Especially, if you are writing a business plan for the first time it can act as a constant guide for you.
Also, you can get a good template for free on the internet. But at the same time, you should keep in mind that it comes with certain limitations and would need more effort on your part compared to planning using the software.
After getting started with upmetrics, you can copy this small business plan template into your business plan and modify the required information and download your small business plan pdf and doc file. It's the fastest and easiest way to start writing your business plan for a new small business.
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.