how to write a professional business plan

How to Write a Business Plan (Examples & Templates)

Learn to create an effective business plan with clarity, research, and engaging design. Explore real-world examples and actionable tips for success

Hadar Peretz

7 minute read

Short answer

What should a business plan include?

Executive Summary: A snapshot of your business and plans.

Business Description: The mission, vision, and the problem you’re solving.

Market Analysis: An overview of the industry and your target market.

Organization and Management: Your business’s structure, team, and roles.

Service or Product Line: What you’re selling or the service you’re offering.

Marketing and Sales: How you plan to market your business and your sales strategy.

Funding Request: If you’re seeking funding, specify the amount and its use.

Financial Projections: Provide projections for the next five years.

Appendix: Additional information or documents supporting your business plan.

Even the most outstanding business plan can falter with poor presentation

If your business plan is too convoluted, mundane, or fails to resonate with stakeholders, you'll diminish its effectiveness, regardless of its content quality.

Success hinges on how you structure and articulate your business strategy.

This article will equip you with invaluable insights and frameworks for crafting a compelling business plan.

You'll discover the key components to incorporate, the ideal arrangement, and strategies to design a business plan that captivates and convinces you.

Dive in to bolster your expertise and position your business for unparalleled success against the competition.

Let’s unfold the blueprint!

What is a business plan?

A business plan is a formal document that outlines a company's goals, the strategy to achieve them, and the financial and market analysis supporting these objectives.

It acts as a roadmap guiding the business towards growth and success.

What is the purpose of business planning?

Business planning serves to provide a clear vision, set measurable objectives, and attract potential investors.

It offers a structured approach to tackling challenges, optimizing resources, and evaluating the business’s progress, fostering informed decision-making and long-term sustainability.

Why are business plans so important for organizations?

In the cut-throat world of business, having a solid foundation is imperative for survival and growth.

2 main reasons why business plans are so important for organizations:

1) Strategic focus

A business plan ensures that you maintain a strategic focus, prioritizing tasks that drive your business toward its goals while avoiding distractions.

2) Financial planning and risk assessment

Having a financial blueprint helps in resource allocation, financial forecasting, and assessing the risks that could threaten your business's stability.

It prepares you for contingencies, ensuring your business remains resilient amidst adversities.

Strategies behind the business plans of industry disruptors

Learning from the business plans of successful enterprises can provide invaluable insights:

Airbnb’s original business plan: Airbnb’s initial business plan was a classic demonstration of how to address a market need and propose a novel solution.

Tesla motors business plan: A profound example of how innovation paired with sustainable practices can be translated into a compelling business narrative.

Warby parker's direct-to-consumer model: Warby Parker disrupted the eyewear industry with its online-focused, try-at-home model, emphasizing affordability without compromising style or quality.

These examples depict how clarity of vision and articulation of strate gy can pave the way for attracting investors and guiding a business toward its envisioned path.

5 types of business plans

Understanding the different types of business plans is fundamental for tailoring a plan that suits the specific needs and objectives of your business.

Each type serves a unique purpose, addressing various aspects and stages of a business. Here are five common types of business plans along with a brief description of what they entail:

1. Growth business plan

A growth business plan is focused on expansion strategies for established businesses.

It outlines new market penetration, product line extensions, or other growth opportunities, backed by market research, financial projections, and operational adaptations.

2. Operational or annual business plan

An operational business plan provides a detailed outline for the company’s activities over a one-year period.

It includes specific goals, responsibilities, timelines, budgets, and management plans, serving as a comprehensive roadmap for the business's short-term operations.

3. Startup business plan

A startup business plan lays down the groundwork for a new business, encompassing aspects like mission, vision, target market, competition analysis, financial projections, and operational plans.

It's pivotal for attracting investors and guiding the company's early steps.

4. Strategic business plan

A strategic business plan is a high-level document that sets out a company’s long-term vision, mission, and strategic objectives.

It typically encompasses market analysis, company positioning, competitive analysis, and long-term financial forecasts, aimed at guiding the business's overall direction.

5. Feasibility business plan

A feasibility business plan is used to explore the viability of a new business idea or project. It provides a thorough analysis of the market, competition, necessary resources, financial forecasts, and potential challenges, to ascertain the project’s practicality and worthiness.

What makes an effective business plan?

Creating a document that stands out and achieves its intended purpose is a blend of art and science.

Clarity and cohesion

Crafting an effective business plan demands a seamless blend of clarity and cohesion. Here's how these elements translate into a compelling plan that garners attention and achieves its purpose.

Clear objectives: Define clear, measurable, and realistic goals.

Cohesive narrative: A well-structured narrative that binds all sections into a coherent story.

Solid research and realistic projections

An effective business plan is grounded on solid research and realistic projections. Let's delve into how thorough market research and accurate financial forecasting can set the stage for success.

In-depth market research: Understand your market, competition, and customer needs.

Realistic financial projections: Accurate projections reflect financial acumen and understanding of market dynamics.

Risks and challenges insight

Identifying risks and devising robust mitigation strategies are integral to a well-rounded business plan.

This section explores how a detailed risk analysis can provide a clear roadmap for navigating challenges and ensuring business sustainability.

Risk identification: Spotting potential risks and having a contingency plan reflects foresight and preparedness, crucial for stakeholder confidence.

Mitigation strategies: Detail the strategies for mitigating risks and overcoming challenges to ensure business continuity and sustainability.

How to write a business plan?

Writing a business plan is a step-by-step process, each step taking you closer to realizing your business vision.

This strategic document serves as a roadmap, guiding your decisions and attracting potential investors or partners to your venture.

How to prepare for writing a business plan?

The foundation of a compelling business plan lies in the accuracy and thoroughness of the information gathered.

Data collection: Collect relevant market data, business metrics, and financial projections.

Stakeholder input: Seek feedback from key stakeholders to ensure a comprehensive representation of the business vision.

What to include in a business plan one-pager

10 essential components for a top-tier business plan one-pager:

Title slide: Your introduction to potential investors. Adding an engaging video can boost interaction significantly .

Unique value proposition (UVP): A tagline encapsulating your business's core essence. Example: "Innovating personalized healthcare solutions."

Company overview: Narrate your business's origin, mission, and future direction.

Problem addressed: Highlight your target market's pain points and the necessity of your solution.

Market analysis: Showcase your grasp of the competitive landscape and market gaps.

Your solution: Detail the unique features and benefits of your product/service.

Marketing & sales strategy: Outline your approach to reach the audience and drive sales.

Objectives & metrics: Define your key performance indicators (KPIs) and growth objectives.

Team overview: Introduce key team members, their expertise, and significance to the project.

Funding details: Clearly state the funds required, their allocation, and expected ROI.

Effective next steps to engage investors

Skip the usual "thank you" finish! Instead, wrap up your business plan with a clear call-to-action, guiding investors on next steps.

Effective calls-to-action can greatly improve investment chances. Research indicates presentations with distinct action steps outperform generic endings by 27% .

5 action steps to follow after presenting a business plan:

Detailed plan review

Live product demo

Accessing further resources

Committing with a letter of intent

Making an investment

Here’s an example of a business plan built with this structure:

Business plan one-pager

This one-page business plan presentation template covers your company, market, product and services, and growth plan as an interactive visual story that's easy to follow and highly engaging.

How to design a business plan?

Business plan design plays a crucial role in how the information is perceived and retained by the readers.

This section unravels the essence of layout, typography, and the incorporation of visual elements to make your business plan not only informative but also engaging.

Layout and typography

A well-organized layout paired with readable typography can significantly enhance the readability and comprehension of your business plan.

Consistent Layout: A consistent layout throughout your business plan provides a professional appearance and makes it easier to follow.

Readable Typography: Choosing fonts that are both readable and visually appealing helps convey your business message efficiently.

Use of imagery and color

The use of imagery and color can augment the aesthetic appeal of your business plan while reinforcing the narrative and making key information memorable.

Relevant Imagery: Utilize images that align with your business objectives and resonate with the vision of your enterprise.

Color Palette: Select a color palette that not only aligns with your brand but also enhances the visual appeal of your business plan.

Storytelling with data visualization

Telling a compelling story through data visualization can help elucidate the market dynamics, financial projections, and the potential growth trajectory of your business.

Use charts, graphs, and infographics to narrate the data story, ensuring that readers can easily follow the progression and understand the core objectives.

Embracing digital design platforms

In the digital era, creating business plans on digital platforms can provide a more interactive and engaging experience for the readers.

Digital Business Plans: These are accessible, interactive, and easily shared, which can significantly enhance engagement and understanding.

Interactive Templates: Digital platforms offer interactive templates that can help structure your business plan effectively while ensuring a polished, professional appearance.

Grab an interactive template!

Create story from scratch

I am a Marketing Specialist at Storydoc, I research, analyze and write on our core topics of business presentations, sales, and fundraising. I love talkig to clients about their successes and failures so I can get a rounded understanding of their world.

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Home > Business > Business Startup

How To Write a Business Plan

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Starting a business is a wild ride, and a solid business plan can be the key to keeping you on track. A business plan is essentially a roadmap for your business — outlining your goals, strategies, market analysis and financial projections. Not only will it guide your decision-making, a business plan can help you secure funding with a loan or from investors .

Writing a business plan can seem like a huge task, but taking it one step at a time can break the plan down into manageable milestones. Here is our step-by-step guide on how to write a business plan.

Table of contents

• Write your executive summary
• Do your market research homework
• Set your business goals and objectives
• Plan your business strategy
• Describe your product or service
• Crunch the numbers
• Finalize your business plan

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Step 1: Write your executive summary

Though this will be the first page of your business plan , we recommend you actually write the executive summary last. That’s because an executive summary highlights what’s to come in the business plan but in a more condensed fashion.

An executive summary gives stakeholders who are reading your business plan the key points quickly without having to comb through pages and pages. Be sure to cover each successive point in a concise manner, and include as much data as necessary to support your claims.

You’ll cover other things too, but answer these basic questions in your executive summary:

• Idea: What’s your business concept? What problem does your business solve? What are your business goals?
• Product: What’s your product/service and how is it different?
• Market: Who’s your audience? How will you reach customers?
• Finance: How much will your idea cost? And if you’re seeking funding, how much money do you need? How much do you expect to earn? If you’ve already started, where is your revenue at now?

Step 2: Do your market research homework

The next step in writing a business plan is to conduct market research . This involves gathering information about your target market (or customer persona), your competition, and the industry as a whole. You can use a variety of research methods such as surveys, focus groups, and online research to gather this information. Your method may be formal or more casual, just make sure that you’re getting good data back.

This research will help you to understand the needs of your target market and the potential demand for your product or service—essential aspects of starting and growing a successful business.

Step 3: Set your business goals and objectives

Once you’ve completed your market research, you can begin to define your business goals and objectives. What is the problem you want to solve? What’s your vision for the future? Where do you want to be in a year from now?

Use this step to decide what you want to achieve with your business, both in the short and long term. Try to set SMART goals—specific, measurable, achievable, relevant, and time-bound benchmarks—that will help you to stay focused and motivated as you build your business.

Step 4: Plan your business strategy

Your business strategy is how you plan to reach your goals and objectives. This includes details on positioning your product or service, marketing and sales strategies, operational plans, and the organizational structure of your small business.

Make sure to include key roles and responsibilities for each team member if you’re in a business entity with multiple people.

Step 5: Describe your product or service

In this section, get into the nitty-gritty of your product or service. Go into depth regarding the features, benefits, target market, and any patents or proprietary tech you have. Make sure to paint a clear picture of what sets your product apart from the competition—and don’t forget to highlight any customer benefits.

Step 6: Crunch the numbers

Financial analysis is an essential part of your business plan. If you’re already in business that includes your profit and loss statement , cash flow statement and balance sheet .

These financial projections will give investors and lenders an understanding of the financial health of your business and the potential return on investment.

You may want to work with a financial professional to ensure your financial projections are realistic and accurate.

Step 7: Finalize your business plan

Once you’ve completed everything, it's time to finalize your business plan. This involves reviewing and editing your plan to ensure that it is clear, concise, and easy to understand.

You should also have someone else review your plan to get a fresh perspective and identify any areas that may need improvement. You could even work with a free SCORE mentor on your business plan or use a SCORE business plan template for more detailed guidance.

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The takeaway

Writing a business plan is an essential process for any forward-thinking entrepreneur or business owner. A business plan requires a lot of up-front research, planning, and attention to detail, but it’s worthwhile. Creating a comprehensive business plan can help you achieve your business goals and secure the funding you need.

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How to Write a One-Page Business Plan

Noah Parsons

5 min. read

Updated July 29, 2024

What’s the most challenging part of writing a business plan? Getting started. That’s why you should create a one-page plan as a starting point.

The one-page business plan is simple to create, easy to update, and built for adaptation. It includes all of the essential components of a traditional plan but is far briefer and more focused.

Think of it like you’re tweeting about your business. You have a limited number of characters to work with and are intentionally making it easy to digest. If you need additional support, try downloading our free one-page business plan template .

• What is a one-page business plan?

The one-page business plan is a simplified version of traditional operational plans that focuses on the core aspects of your business. While it may be a shorter business plan, it still follows the structure of a standard business plan  and serves as a beefed-up pitch document.

There’s really not much difference between a single-page business plan and a good executive summary. In fact, as you create a more detailed plan you may even be able to use it as your executive summary .

• What to include in your one-page plan

Here are the eight necessary sections to include when developing your one-page business plan.

Try and keep each section limited to 1-2 sentences or 3-4 bullet points to ensure that you stay within one page. It’s always easier to add more later rather than cutting back from lengthy sections.

The problem

A description of the problem or need your customers have and any relevant data that supports your claim.

The solution

Your product or service and how it solves the problem.

Business model

How you will make money—including the costs of production and selling, and the price that customers will pay.

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Target market

Who is your customer and how many of them are there? Define your ideal customer by starting with a broad audience and narrowing it down. This provides investors with a clear picture of your thought process and understanding of the greater consumer market.

Competitive advantage

What makes you different from the competition? Explain how this will lead to greater success, customer loyalty, etc.

Management team

The management structure of your business, including currently filled roles, ideal candidates, and any management gaps.

Financial summary

Key financial metrics include your profit and loss, cash flow, balance sheet, and sales forecast. This section may be the most difficult part to condense, so try and focus on visualization and standard business ratios to get the point across. You can always share broader financial information if requested.

Funding required

Have what funding total you need front and center to clearly display what you are asking from investors.

Why you should start with a one-page plan

There are plenty of good reasons to write a business plan . There are even more reasons why your first step should be writing a one-page plan.

1. It’s faster

Instead of slogging away for hours, days, or even weeks tackling a formal business plan—the one-page format helps you get your ideas down much faster. In fact, with the right process and preparation, you can write a working one-page business plan in under an hour .

2. A great format for feedback

Need quick feedback from business partners, colleagues, potential customers, or your spouse? Provide them with a one-page plan instead of a lengthy in-depth version for better results.

The one-page plan is more likely to be read and reviewed. And since all of your business information is available at a glance, you’ll receive far more valuable and timely feedback.

3. Easy to update

Entrepreneurs never get things right the first time. You’ll constantly be learning and receiving feedback—requiring you to iterate and revise your business concept. Instead of updating a large document every time, you can do it in minutes with a one-page plan.

4. Direct and to-the-point

Learning to communicate your ideas clearly and directly is critical. You need to be sure that anyone can really understand the essence of your business. Delivering your entire business concept on a single page is a great way to practice this, as it forces you to be succinct.

5. Works as an idea validation tool

Initially, your business is just a set of assumptions that you need to validate. Do your potential customers have the problem you assume they have? Do they like your solution and are they willing to pay for it? What marketing and sales tactics will work?

As you validate these assumptions, you leave them in your plan. But, assumptions that end up being wrong will quickly fall off the page.

6. Becomes an outline for your detailed plan

By “detailed” we don’t mean “long.” If you do need to create a detailed business plan document for investors or business partners, you can use your one-page plan as your core outline. You will just expand and provide more details for each section.

7. No one really reads long business plans

A common problem with traditional business plans is that they are simply too long and overly complex. Even when investors ask for a detailed document, chances are that they won’t actually read every word. They may read certain sections, but often just want to see if you’ve thought through the details of your business, how it will operate, and how it will grow.

8. Useful for any business stage

A one-page plan is useful for business owners that are mulling over ideas, just starting, actively managing, or looking to grow a business. It can help validate a business idea, work as an internal strategy document, or as a flexible management tool that can be adapted over time.

Resources to help you write a business plan

While I highly recommend that you at least start with a one-page business plan, there are times where a more traditional business plan is necessary—such as applying for a loan or pitching to investors.

For additional support, check out our guide on writing a detailed business plan and download our free business plan template .

Noah is the COO at Palo Alto Software, makers of the online business plan app LivePlan. He started his career at Yahoo! and then helped start the user review site Epinions.com. From there he started a software distribution business in the UK before coming to Palo Alto Software to run the marketing and product teams.

Table of Contents

• Why start with a one-page plan

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