How to Write a Business Plan

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” If you fail to plan, you plan to fail “

” Goal without a plan is just a wish “

Writing a business plan shouldn’t be complicated. In this step-by-step guide, I’ll show you how to quickly and easily write a business plan that will get the results you want. Don’t worry, you don’t have to have a business or accounting degree to put together a great business plan. This guide will show you how to get your plan done step-by-step without any of the complexity or frustration.

The six components of a business Plan

Whether you’re building a business plan to raise money and grow your business or just need to figure out if your idea will work, every business plan needs to cover 6 essential topics. Here’s a quick overview of each topic. There are a lot more details and instructions for each step later in this guide.

1. Executive summary

The executive summary is an overview of your business and your plans. It comes first in your plan and is ideally only one to two pages. Most people write it last, though.

How to Write a Business Plan

2. Opportunity

The opportunity section answers these questions: What are you actually selling and how are you solving a problem (or “need”) for your market? Who is your target market and competition?

3. Execution

In the execution chapter of your business plan, you’ll answer the question: how are you going to take your opportunity and turn it into a business? This section will cover your marketing and sales plan, operations, and your milestones and metrics for success.

4. Company and management summary

Investors look for great teams in addition to great ideas. Use the company and management chapter to describe your current team and who you need to hire. You will also provide a quick overview of your legal structure, location, and history if you’re already up and running.

5. Financial plan

Your business plan isn’t complete without a financial forecast. We’ll tell you what to include in your financial plan, but you’ll definitely want to start with a sales forecast, cash flow statement, income statement (also called profit and loss) and your balance sheet.

6. Appendix

If you need more space for product images or additional information, use the appendix for those details.

In the upcoming sections of this article, I’ll dive into the details of each section of your business plan and focus on building one that your investors and lenders will want to read. (learn more details from here >>)