Why is there a blog on business plan templates when you haven’t started a business? Warning – this blog might just prompt you to start one!
You must be thinking, who in their right mind starts a business during a pandemic? Well, if you have the business bug, you know that now is a good a time as any to start a business.
After all, what’s an entrepreneur if not a risk-taker?
One of the first steps involved in setting up your dream business is drafting a business plan. It takes a little time and effort. Good business plans help you at different stages of your business. Your business plan explains your entire purpose for starting, your execution, your finance – everything.
- 0.1 What is a business plan?
- 0.2 The 6 components of a business plan
- 1 Choose your first business plan template
What is a business plan?
A business plan is your company’s pitch presentation for potential investors. It’s a written document that explains your company goals, vision and strategies to your stakeholders. Your business plan helps bring clarity to anyone who wants to learn about your brand.
So, let’s find out what business template you need to get things started.
The 6 components of a business plan
Your business plan will help you secure funding. It’s going to be the blueprint of everything your brand stands for. So, you need to know what makes up a business plan.
- Executive summary – An overview of your business.
- Opportunity – What are you selling? Here. You explain how your business will help solve problems for your target audience.
- Execution – Mention your strategies here. How do you plan to sell to your audience? Talk about your products and services.
- Marketing plan -How much money do you intend to invest for marketing? What are the channels
- Financial plan – Here, write down your budget, your future financial goals and the company’s capital requirements.
- Management and operations – Type out your legal team, employees hired, HR policies, shareholders names, logistics services (if any).
Choose your first business plan template
Standard Business Plan Template –
You can refer to this template for a generic outline of components that you need to incorporate into your final business plan template.
Hubspot’s Business Plan Template
Hubspot is known for their simple, yet useful business templates. You can download their free business templates, invoice generator templates for FREE.
Small Business Administration’s Business Plan Template
The SMA’s online business templates are free and come with examples you can refer to. The lean startup template offers different sections like the executive summary, company description, market research, product/service line, marketing and sales, and financial plans
Joey Gedgaud’s Business Plan Template:
The marketing executive’s business plan template is done in one page. It is simple, easy and straightforward for any business that is just starting out.
Business template for investor pitch
If you need a sequential business plan for a detailed investor pitch, you can download this template for reference.
You can also use MS Office business plan templates if you need to get started. It’s always best to keep on and work on it consistently.
Setting up a business in 3..2..1!
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