Business Plan: Building Your Roadmap One Step at a Time
A business plan is a living document that maps out your future goals and strategies that are set to be achieved in a certain period. If you are thinking of starting a business that requires a large investment or if you are seeking financing to launch or grow your business, you should think about developing a plan.
The main components to consider when writing your business plan:
- Executive Summary
- Company Description
- Products and Services
- Marketing Plan
- Operational Plan
- Management and Organization
- Startup Expenses and Capitalization
- Financial Plan
- Appendices
Important reasons to write a business plan:
- Secure funding through a traditional bank, angel investors, venture capital
- Create a strategy for growth and create realistic goals
- Reduce risk
It all begins with putting your thoughts on paper. Once you start organizing your ideas you will begin to see the bigger picture of what entails in starting a business.
Below you will find examples and templates to help you get started:
- SCORE Business Plan template: https://www.score.org/resource/business-plan-template-startup-business
- SBA Business Plan Guide: https://www.sba.gov/business-guide/plan-your-business/write-your-business-plan
- LivePlan Business Plan examples and templates: https://www.liveplan.com/