Business Plan Template for Startup
Business Plan is a foundation of every startup Business. Your Business’ future depends on how you plan it today. Business plans are written a description about your business. These documents best describe your plan and the way you execute your plans.
Coming up with a great business plan is your first step in starting up your company. Preparing for success requires a well-written business plan that will help you to increase the success chances of business and analysis startup plan for Marketing, Distribution, Sales, Operation, Management, Team and more. It will also convince business investors to invest or finance for your business. Your business plan starts from executive summary and finish to financial statements. The real value of business plan in your business is the value of processing and thinking about your business in a more systematic way. Planning takes time but avoids disasters and mistakes in the near future.
Planning for tomorrow has a great difference from planning today. In the business world, your competitors will always find the opportunity to overtake you, and quality is the best business plan that you can have. And choosing the best business templates is your first step to the success of your business.
Before we dive into details, here is the outline of business plan.
Set your goal and plan for it and everything on your business will run smoothly.
Business Plan Cover
Start by make your first impression more attractive to the investors or audience. Add a high quality PNG format logo in a medium size. Should be readable and pixel perfect. Color scheme of the cover look similar to your brand. A bigger headline and smaller size company information as follows:
Name of the company Founders Names Founder Address, Phone Numbers (optional) Company Logo Company Address Company phone number Email address Website (without http or https) Complete Date when the plan is issued.
An executive summary is a short page or part of a document, written up for business reasons, that shortens a long report/proposal or a collection of interrelated reports in a manner that all readers can quickly be familiar with a huge amount of content without reading it all at once. Usually, an executive summary has a brief declaration of the proposal and overall status written in the main report full of contextual information, specific analysis, and formal conclusions.
Executive summaries are very important as a tool of continuous announcements in all forms of business. An executive summary is no longer than 10% of the entire report, from 1 to 10 pages long, based on the length of the report. Executive summaries are written the executive of a business (hence the name) who usually can’t read everything at once, so they require a synthesis of what the report is all about. It includes all recommendations and results explained in short paragraphs that justify them in order of importance. There is a brief beginning and a brief conclusion to it that separate from the main report.
The description is just one important piece of a complete business plan. This comes right after the executive summary in the business plan outline. A business description usually lasts from a 1 page to several pages, like a short synopsis of the data that a reader will use to learn more about the idea before continuing on with the written plan. The description has multiple, central characteristics that is written to bring in as much people as possible to invest in the startup company.
The description should give some basic data about the business, including the name, location, and who the owner is. The description should identify the type of business, whether it’s retail, wholesale, or a service, as well as the business structure, whether it’s a single owner, a partnership, or a corporation. A short history about the business is also there, even if it is just a mini account of how the business was formalized, to give readers some background knowledge about the new company.
objectives are part of the entire planning process in a business and in an individual. They describe what the business expects to achieve throughout the whole year. Business owners outline their goals and objectives in their business plans as one, or in its respective departments, what they see in their employees, their clients, and how they market themselves. Most businesses use exact measurements to keep an account of their entire list of goals and objectives.
All businesses measure their goals and objectives over a certain period of time with timeframes to keep track of their progress. They could measure sales and profits by the week, month, quarter, and year. Certain businesses may track all of this on a daily and hourly basis to see how many workers are needed and their working hours to keep costs in line. Business owners may target a specific percentage-point increase on a yearly basis when writing down their sale goals and objectives, as well as number of clients, and the number of trained employees as part of the entire workforce.
Some companies start small as steps to build up for bigger achievements. Public companies, such as those in the stock market, are expected to report quarterly sales, profits, and earnings per share. Companies, who are successful in reaching these goals and show their statistics as proof, can bring in more investors and shareholders.
Mission and Vision
What are your goals? How do you reach your customers? What makes your business unique and are different from other businesses? In starting up your business, you need to set the distinguish mission and vision that your business needs to attain. In setting your mission and vision, see to it that it is specific, attainable, and time-bound.
The future of your business depends on how you plan it today. In starting up your company, the dreams and ambitions of the company should be set first and the next step is the things that you need to do in order to succeed.
We have helpful templates that are perfect for your business start-up.
Long and Short Term Goals
A short-term goal is something that should be achieved soon, such as today, next week, in 3 months, or within the year. A long-term goal is something desired and planned for in the future, requiring a lot of time and planning to get to that goal. It isn’t something that can be done in 1 year, but rather five years. Businesses must go into detail for both types of goals and prioritize them. Prioritizing means that it is decided what is most important now and what will be sought later. All goals are important, but no company can work on all of them simultaneously. This includes amount of revenue, success in customer service, employee appreciation, and community outreach. An example of a short-term goal is to have financing this year to support the business, while an example of a long-term goal is to receive revenues that surpasses $1 million within a decade. It also can be the expansion of the business to multiple places within the next five years and having quarterly targets within the first year.
Drawing up a business plan template is a massive step to take because the plan serves as the road map for the first years of the business. It is a plan that projects 3 to 5 years ahead and outlines how the company will reach every milestone it has listed, including revenue expectations. A thoroughly thought out plan helps businesses think in accurate details about those key components of the business venture and updates all decisions being made on a regular basis. Without a plan, it is doomed to fail.
Product and Services
This is the section where the product and services of a company are introduced. The section contains the name of the product and services together with its description. As it continues to move forward, the product and services section provides a detailed information regarding what the company would like to offer. In the product and services section, it also comprises how the products and services will be given its prices, comparison of the offered product and services with its related competitor, and also about the sales literature that will be utilized for the plan. This is not only for product and services introduction but the section should also show how a company will process and fulfill the orders of its customers.
The product and services section is also the section in your business plan or startup business plan where you can introduce the future services or product you would want to offer.
Tip: In writing the Product and Services section of your business plan, keep in mind the technical and highly detailed explanations are not needed. It is better to use terms that are simple to understand so that your readers will easily get what you want to convey on your plan. Don’t forget to include the trademarks, patents, and copyrights in the product and services section since these are part of the necessities. The longevity of your product and services section may depend on your business nature. Product-focused business may have more time in describing their products.
Organization Plan also known as “Organization and Management Plan”
The Organization Plan or Organization and Management Plan is the section in a business plan and business plan for start-ups which provides the summary of your business’ organizational structure. This is where all the business members’ information – from duties down to qualifications are provided.
The Organization Plan is where the hierarchy of the organization will be found. It contains the company structure, the founder, co-founders, management board, the team, and more. The qualifications of each member of the management team will also be included to provide a brief overview of their works and duties in the organization.
The Organization Plan is like a resume where all the proven track records are highlighted. The organization plan in a business plan is the best way to give the readers an overview of the people involved within the organization.
Tip: When writing this section, see to it that the names of each member of the management team are provided. Also, don’t forget to give the position they have in the company and a short description of their duties. You can also provide information about their education, experience, capabilities, and more.
As for the owners of the company, you should include the percentage of their ownership in the organization. Also, don’t overlook the form of their ownership and their involvement in the organization. Including all vital information will give the readers an idea of what each member of the organization is responsible with and how much they earn.
Market overview allows you to define the plan and strategy that will help you in your start up business. Below is the thing that you should include when you are going to have a market overview for the startup of your business.
As a start-up business, you have to make a business plan goal that you need to achieve. Let say, you formulate a five-year business plan goal that should be present in you market overview for the startup of your business.
Market segmentation should be present in your business market overview that you have clearly stated the division concerning all the matters and aspect that you need when you are starting up in the business.
Market target refers to all the aspects that talk about the customers you will have in your business. It is the aspect of the customers refers to the every information about the target clients you have in your market overview.
All of the business has a target market for the business to achieve. Your business market overviews need to have the particular consumers group that you wish to avail your products and services.
As a startup business, you have to plan also for the size of the market that your business will cover in the present to the future. Include also in your market overview the expected growth that you m in the future.
All of the aspects that concerns with the market and growth of your start up business must be present in the market overview.
A business analyst in the startup of your business is very important. It can define the best strategy that you need in the business. The business analyst is the one that defines all the aspects that affect your business in the future. It will be the part where you define the right and wrong aspect that will affect the business. Having business analysis in the business gives you the edge to define the things that you need to achieve in the market and meet success.
Business analysis will support your business startup, understand the market operates, and affect the future of your business. It will also support you to adapt to the changes that happened in the daily market.
Startup business typically has little resource in the business. Business analysis will help you to define the best process in order to adapt to the need of the market and be in line with the other business in the industry.
You need to have the entire report for your business that you need to record for future needs. The business analyst is the key to have a better milestone for of your business and see easily the things that you need to improve to support your startup business.
Include also in the business analysis the things and information that will benefit your business such as survey and customers comments with the services that you offer to them. Business analysis is the compilation of all the information and data that is vital to in the welfare of your business.
A competitive analysis is a crucial part of the company’s marketing plan. With this evaluation, you can develop what makes your product or service different –
and thus what attributes you play to attract the target market.Assess your competitors by putting them in strategic groups based on how directly they compete for the share of the customer’s money. For every strategic group or competitor, list their product or service, growth pattern, service, assumptions, marketing objectives, organizational and cost structure, its profitability, weaknesses, and strengths, in size (in sales) of the business competitor. You can answer questions like:
What are your competitors? What services or product they sell? What is every competitor’s market share? What are their existing strategies? What are their past strategies? And more
Across the top of the paper, you can list the main characteristics and features of every product or service. Include things like price, target market, the extent of customer service, the method of distribution, size for a product. For the service, list where the service is accessible, list prospect buyers, toll-free phone number, and website, as well as other features, which are relevant.
A simple and easy way to compare your product or service along with similar ones on the market is to establish a competition grid. Down the left part of the paper, list the names of the three or four products or services, which compete with yours. To make the list, think of what your clients would purchase if they did not purchase your product or service.
This is a written strategy for selling services or products of a new business. it’s a reflection of how serious the company is in reaching the competition head on, along with strategies and plans to boost market share and attract customers. Having an effective marketing plan is backed by consumer and competitor information, collected market, often times citing professional advice. The marketing plan will include sections outlining your:
his plan allows you to determine and take action on any trends as well as consumer preferences, which other companies have ignored, and to expand and develop your own chosen group of loyal customers today and into the future.
The simplest way to create your marketing plan is to work through all of these sections, referring to market search you completed if you were writing the last section of your business plan. Keep in mind that if you are creating a marketing plan, instead of as a part of the business plan, this plan will also need to consist of a Competitors’ Analysis and Target Market section.
This is very crucial to the success of the business. It’s a detailed account of how you prefer to plan to market the business over the next few years and what outcomes you’ll expect from such efforts. For great results, you can refer to the plan on a regular basis, at least every once a month, and monitor your own success as you go.
It refers to the detailed plan that is used to provide a clear picture of how a group of workers can contribute to the success and stability in the regular operation of a business. Strategic goals are usually outlined in the business plan.
Operational plan in the business plan identifies some of the important spot related in the business. It includes the business strength and weaknesses, position in the market, potential areas of growth and areas of vulnerability.
Operational plan should comply with the overall objectives of the company that is detailed in the business plan. In general, the operational plan is used to identify the overall goal of the company group, ways on how the goals will be achieved and the resources required to meet the goals.
On the other hand, setting up operational plan involves the setup contingency plan as a solution at the times of the problem. Setting an operational plan involves the best estimates for what will happen in the business. The business plan integrates operational plan to ensure the regular operation of the business and to avoid problems that may arise for the daily operations.
Changes initiated in the business is just some part of the business plan and the setup of the changes are typically based on what the operational plan constructed. The entire operation is very much dependent on the foundation of an operational plan so it is best to integrate the best practices in the groups of people that are working for the operation of the business.
Distribution plan composed of plans that are frame worked on how to attract customers to buy your products and services and the possible ways on how this product will be distributed in the market directly to the customer. There is various type of distribution channels that are used to properly follow the strategy set in the distribution plan.
Application of the various distribution channels is particularly different from each other. It involves the costs, complexity, customer relationship and the resources essential for the operation of the plan. A distribution plan should provide distribution channels that match and carry the goals and objectives of the business plan in order to attain the goal that has set in the plan.
Distribution plan can be executed in many different ways. You can establish some strategic ways that will assure the distribution of the product and services to the customers. You can apply this different distribution types such as direct selling, wholesale, mail order, and online distribution basis.
Using this types of distribution strategy enables the product to be distributed securely and directly to the customer. On the other hand, distribution plan typically works starting in the different functional department which is responsible for the product in the different stages of distribution.
Business plans integrated distribution plan as part of the framework to ensure that all the members of the organizational business share a common goal in the distribution policy of the product to the customer. It is also to assure that the product reaches the customer in the best possible condition.
Financial Plan is made up of a comprehensive evaluation of the investor’s current and future financial state that is calculated based on the current variables which are used to predict the asset values, cash flows and withdrawal plans. A financial planner is usually involved in this area. Financial plans are usually developed from the current net worth, asset location, tax liabilities, asset allocation, future retirement and estate plans.
The entire financial plan is based on the financial goals, assets and liabilities, comprehensive risk management, task reduction strategy and long term investment plan. This various basis of the financial plan is used and utilized in the business plan as part of some of the strategic points essential for the conservation of some of the business resources.
It is essential in the business since it provides the entire cash flow management. Expenses are generally part of the financial plan. The frame work of financial plan in the business plan is very much associated with the proper regulation of the business cash flows and resources.
Following the goals in financial plan keep the business on tracks and operation. This will ensure that all the resources management embedded in the finical plan is highly optimized and regulated. Most of the time, businesses create a lifetime support by means of financial planning.
Planners optimized all the essentials in the business plan particularly in the part of a financial plan which is more critical than any other part of the business planning. Data misconception and wrong analysis could lead to a severe drawback in the financial system of the business.
Financial Statements include the collection of all reports about the business organization financial result, cash flow and financial condition. It is composed of all the resources essential for the business operation. There are various reasons why financial statements are used in the business.
It is used to determine the ability of the business to generate cash, sources and possible uses of the cash. Most of the business determine their capability to pay back the debt by means of using a financial statement as part of their regular operation.
Financial results on a trend line are also tracked down to verify any profitable issues in the business. Financial statements derived the financial ratios from the statements that are used to indicate the condition of the business. The business plan uses a financial statement as part of the framework to verify any threat in the business operation in terms of finances.
Furthermore, financial statements include income statements, balance sheets, statements of retained earnings and cash flows that all contribute to the overall analysis of the business. A financial analyst is a person that usually analyze the performance of the business plan. They make the predictions and future directions and possible solutions to inevitable problems involved in the business.
Business plans, regarding with the financial statements provide the goal that documents the monthly results and endings of financial condition. The usual coverage for the business plan’s financial statement is expected when the full cycle of the business reporting results for the full fiscal year of business operation.