A well-written business plan can help convince investors or lenders to finance your business.After you complete the 11 worksheets, you will have a working business plan for your startup.
A standard business plan consists of a single document divided into several sections including a description of the organization, the market research, competitive analysis, sales strategies, capital and labor requirements, and financial data.
The resulting document can serve as the blueprint for your business and be supplied to financial institutions or investors if debt or equity financing is needed to get your business off the ground.
Cons of using a business plan template: While there are benefits to using a business plan template, depending on your situation it may not be the best way to complete your plan. For instance, not only do you have to complete the financial spreadsheets, but you have to do the math yourself.
You’ll also have to know enough about the process to be sure you’re getting the numbers in the right place.
The executive summary goes near the beginning of the plan but is written last.
It provides a short, concise, and optimistic overview of your business that captures the reader's attention and creates a need to learn more.
That best way to find out whether you do or not is to do your research and write a business plan to see if your idea is feasible.
The simple business plan template presented here will get you started.
If using Windows, outline the text to be selected with the mouse and hit CTRL C to copy and CTRL V to paste.
For a detailed description of each section of the plan, you'll want to refer to the Guide to Writing a Business Plan Step By Step.