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Free Online Business Plan Maker
Create a compelling and convincing business plan online with Venngage. Templates available for your every need, whether it's business plans, financial plans, marketing plans, and more.
![business plan for online](https://venngage.com/assets/img/marketing/blue-decorator.png)
Not a designer? No problem. With our easy-to-edit templates and online business plan generator, anyone can create a professional business plan for free. Over 40,000 businesses already use and trust Venngage.
Design from one of our business plan templates
Choose from hundreds of business plan templates. see all business plan templates, launch a profitable business with a visually engaging business plan.
![business plan for online](https://venngage.com/assets/img/marketing/blue-star.png)
Your business is unique and impactful — so should your business plan. Make sure the plan you share with investors, lenders, and other stakeholders is not only packed with key data and information but visually engaging too.
![business plan for online business plan for online](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/11/writing.png)
Looking to make your business plan stand out from the pack? Venngage's unique business plan templates add serious style to your ideas. Venngage's Business Plan Builder is a fraction of the cost of hiring a writer — you can even try creating a business plan for free.
![business plan for online business plan for online](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/11/marketing.png)
Whether you're looking for a traditional business plan format or something more creative, Venngage's easy-to-edit business plan templates let anyone design business plans. No experience required. Free business plan templates available.
![business plan for online business plan for online](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/11/bar-line-chart.png)
Nothing's better to convince your stakeholders than some sweet data that speaks volume. Engage and persuade your investors by visualizing your business plan data with Venngage's unique charts, graphs and diagrams.
Create a winning business plan with Venngage in 5 steps:
![business plan for online Create a winning business plan with Venngage in 5 steps:](https://cdn.venngage.com/features/img/section5_business_plan_maker.webp)
Design an unforgettable and convincing business plan today:
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Business Plan Templates
Save money and hours of design time with Venngage's easy-to-edit templates and free business plan generator. Free online business plan templates available.
![business plan for online business plan for online](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/11/friendly-editor.png)
Easy-to-Use Editor
Venngage's online business plan builder is intuitive to use. The drag-and-drop editor means faster and better designs even when you don't have design experience.
![business plan for online business plan for online](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/11/Export.png)
Download Business Plans
Download your document with one click as an image (PNG), PDF, Interactive PDF or PowerPoint file. Add it to your Google Docs or Slides, Word doc or existing PowerPoint slides (paid plans only).
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Visualize Business Plan Data
Persuade your stakeholders and tell a story with your business plan data through charts, graphs, maps and diagrams. Copy and paste your data or upload it in a .csv file in one click.
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Brand Your Business Plans
Use Venngage's My Brand Kit to automatically import your brand identity. Then, add your brand colors and fonts to any business plan designs with one click.
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Collaborate In Real Time
Collaborate with your whole team with Venngage's real-time collaboration. Leave helpful feedback through comments and create impactful business plans.
![business plan for online business plan for online](https://venngage-wordpress.s3.amazonaws.com/uploads/2021/11/Section-7-business-plan.png)
Easy-to-edit professional business plan templates
- Our team of professional designers have created a collection of unique, online business plan templates that anyone can customize. Pick a simple template, add your text and data and you're done.
- Or choose a more creative template and play around with the fonts, photos, icons, colors, and more.
- Whatever the case, Venngage's drag-and-drop free business plan generator lets anyone create a beautiful, professional business plan without any design experience.
- Share a public link for free from our online business plan creator. Don't worry. You can go back and edit your design at any time.
One-click branding with My Brand Kit
![business plan for online One-click branding with My Brand Kit](https://cdn.venngage.com/features/img/section8_business_plan_maker.webp)
Show off important metrics with professional data visualizations
Collaborate with your whole team throughout the design process.
![business plan for online Collaborate with your whole team throughout the design process](https://cdn.venngage.com/features/img/section10_business_plan_maker.webp)
Business Plan Maker FAQs
How much does venngage's business plan builder cost.
Anyone can make a business plan for free and share a link to their work. Our Premium ($19/month) and Business ($49/month) plans include premium, professional business plan templates and features, plus access to multiple download formats.
How can I write my own business plan?
Your business plan can include these sections: executive summary, company description, market analysis, organization management, service/product line, marketing & sales, funding requests, financial projections, etc. Add sections to your business plan as you see fit — depending on the kind of plan you're creating. No matter the type of business plans you're making, Venngage has a template for that.
Can I download my business plan?
Yes! You can download your business plan in PNG, PDF, Interactive PDF, or PowerPoint formats (paid plans only). It's free to share a public link. It's also free to create an account and test out our online business plan maker with a free business plan template.
Wow your clients and investors at first sight — Create a convincing and winning business plan with Venngage's online business plan generator
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Popular business plan templates you can edit right away
Nonprofit organization business plan template, business operational plan template, real estate investment business plan template, business continuity and disaster recovery plan template.
- Business Plans
Professional Business Plan Template to Customize
Create Your Business Plan
![business plan for online Professional Business Plan Template to Customize](https://www.visme.co/wp-content/uploads/2022/07/business-plan-header-1024x582.jpg)
- Create a comprehensive business plan.
- Easily customize your slides to fit your needs.
- Showcase data with 40+ chart options.
![business plan for online Professional Business Plan Template to Customize](https://www.visme.co/wp-content/uploads/2022/07/business-plan-header-300x171.jpg)
Chosen by brands large and small
Our business plan maker is used by over 27,500,000 marketers, communicators, executives and educators from over 133 countries that include:
Powerful Presentation Features That Help You Shine
Professional business plan templates.
Create a presentation or document business plan quickly and easily with Visme's template options. Customize each page or slide to fit your vision and information to pitch to cofounders or investors. Get started today.
![business plan for online Professional business plan templates](https://www.visme.co/wp-content/uploads/2021/12/Business-Plan-templates.jpg)
Data visualization made easy
Tell your story with the data to match using easy-to-customize charts and graphs. Select from 40+ chart and graph visualizations and find the one that proves your point clearly. Upload static data or connect to Google sheets for live data.
![business plan for online Data visualization made easy](https://www.visme.co/wp-content/uploads/2021/12/Business-Plan-Customize.jpg)
Customize every aspect of your presentation with your own images and text
Convey the exact mood you desire for your business plan with over a million images, thousands of icons, dozens of charts and data widgets to visualize information in an engaging way. Apply a color scheme to all your slides with one click. Add animation effects, transitions, interactivity, pop-ups, rollovers and third-party content to support your business case.
![business plan for online Customize every aspect of your presentation with your own images and text](https://www.visme.co/wp-content/uploads/2021/12/Business-Plan-maker-create.jpg)
Speed things up with Visme AI Designer
Go from a text prompt to a ready-to-use design in mere minutes with Visme AI Designer (Beta). Do you need to create a business plan but lack the time? Let Visme AI Designer help you save time and effort. Describe your desired project to our AI Designer Chatbot, choose a style, and relax as AI Designer generates your project.
Apply our simple business plan template to give you a head start.
![business plan for online Title](https://www.visme.co/wp-content/uploads/2020/08/1-Title-1024x576.jpg)
Meet the Team
![business plan for online Mission Statement](https://www.visme.co/wp-content/uploads/2020/08/3-Mission-Statement-1024x576.jpg)
Mission Statement
![business plan for online Product Overview](https://www.visme.co/wp-content/uploads/2020/08/4-Welcome-1024x576.jpg)
Product Overview
![business plan for online Value Propositions](https://www.visme.co/wp-content/uploads/2020/08/Diagram-1024x576.jpg)
Value Propositions
![business plan for online Industry Landscape](https://www.visme.co/wp-content/uploads/2020/08/6-Timeline-1024x576.jpg)
Industry Landscape
![business plan for online Market Size](https://www.visme.co/wp-content/uploads/2020/08/7-Services-copy-28-1024x576.jpg)
Market Size
![business plan for online Customer Descriptions](https://www.visme.co/wp-content/uploads/2020/08/8-Teams-1024x576.jpg)
Customer Descriptions
![business plan for online Market Growth](https://www.visme.co/wp-content/uploads/2020/08/9-Line-Graph-1024x576.jpg)
Market Growth
![business plan for online Competitive Comparison](https://www.visme.co/wp-content/uploads/2020/08/10-Venn-Diagram-1024x576.jpg)
Competitive Comparison
![business plan for online Competitive Advantage](https://www.visme.co/wp-content/uploads/2020/08/11-Product-Features-1024x576.jpg)
Competitive Advantage
![business plan for online Business Growth Projections](https://www.visme.co/wp-content/uploads/2020/08/12-Timeline-1024x576.jpg)
Business Growth Projections
![business plan for online Marketing Mix](https://www.visme.co/wp-content/uploads/2020/08/13-Process-1024x576.jpg)
Marketing Mix
![business plan for online Conversion Funnels](https://www.visme.co/wp-content/uploads/2020/08/14-Flowchart-1024x576.jpg)
Conversion Funnels
![business plan for online Funding Needed](https://www.visme.co/wp-content/uploads/2020/08/15-2-Stats-1024x576.jpg)
Funding Needed
![business plan for online Thank You](https://www.visme.co/wp-content/uploads/2020/08/16-Thank-You-1024x576.jpg)
Share Your Business Plan
Finished your business plan and ready to share with the world? Visme’s business plan template makes it easy to publish, download and get feedback on your design. Simply download as a high resolution image or PDF, or publish it to the web and send a link to access it.
![business plan for online Share Your Business Plan](https://www.visme.co/wp-content/uploads/2021/12/Business-Plan-maker-share.jpg)
LEARN ABOUT BUSINESS PLANS
What is a Business Plan ?
A business plan is a written document or presentation that allows business leaders to share the business potential and goals, as well as your plans for the future. The business plan is a key step in working towards getting investors looking at your product.
If you're looking to flesh out a new business idea or venture in order to get cofounders or investors on board, you need a business plan. Get started with one of our templates to give you a starting point and framework for your own plan.
![business plan for online What is a Business Plan?](https://www.visme.co/wp-content/uploads/2021/12/Business-Plan-maker-what-is-a-business-plan.png)
Why do I need a business plan?
Writing a business plan is a key step in securing funding and convincing high level executives that your business is worth their time. A well-executed business plan is crucial to the success of a business and it’s one of the first steps you should take.
EVERYTHING YOU NEED + MORE
Make Your Business Plan Stand Out
Take your business to new heights with a beautifully designed business plan. Our tools put the power of visual communication in the hands of entrepreneurs and business owners, no matter their level of design skills.
MAKE IT ENGAGING
Interactivity
Highlight your business’ unique selling point with interactive hotspots and rollover effects. Capture the attention of investors and stakeholders with interactive content.
![business plan for online Charts & Graphs](https://www.visme.co/wp-content/uploads/2021/03/Charts-Graphs.png)
VISUALIZE YOUR DATA
Charts & Graphs
Showcase in-depth data, statistics, and financial projections in a unique way. Harness the power of data visualization with Visme’s professional infographics, charts and graphs.
![business plan for online Analytics](https://www.visme.co/wp-content/uploads/2022/07/Analytics-2.png)
MEASURE THE IMPACT
Gain insight into the impact of your business plan with an analytics report. Track how many people have viewed your business plan and gauge its effectiveness.
HOW IT WORKS
How to Make a Business Plan in 5 Steps
If you are wondering how to write a business plan, you’ve come to the right place. Instead of starting your business plan from scratch, use our business plan templates to get you going in no time.
Learn more about creating your own business plan presentation or document by going through our step-by-step tutorial below or watching this quick video.
- Log into your Visme dashboard or create a new account, then click Create New Project.
- Access our business plan templates by searching for “Business Plan” in the search box.
- Select the template, then customize the content for your business.
- Update any charts and graphs to reflect your business goals.
- Once all your content is added, customize colors, logos, icons and more.
Questions About the Business Plan Template
How much does it cost to create a business plan with the business plan template, what types of charts and graphs are available in visme, can i use my brand kit to create my business plan with visme, is the business plan template completely customizable, can i use any photo in the image library in my business plan, your business plans deserve to be beautiful and so does the rest of your content.
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Small Business Trends
How to create a business plan: examples & free template.
This is the ultimate guide to creating a comprehensive and effective plan to start a business . In today’s dynamic business landscape, having a well-crafted business plan is an important first step to securing funding, attracting partners, and navigating the challenges of entrepreneurship.
This guide has been designed to help you create a winning plan that stands out in the ever-evolving marketplace. U sing real-world examples and a free downloadable template, it will walk you through each step of the process.
Whether you’re a seasoned entrepreneur or launching your very first startup, the guide will give you the insights, tools, and confidence you need to create a solid foundation for your business.
Table of Contents
How to Write a Business Plan
Embarking on the journey of creating a successful business requires a solid foundation, and a well-crafted business plan is the cornerstone. Here is the process of writing a comprehensive business plan and the main parts of a winning business plan . From setting objectives to conducting market research, this guide will have everything you need.
Executive Summary
![business plan for online business plan](https://media.smallbiztrends.com/2023/07/business-plan-15.png)
The Executive Summary serves as the gateway to your business plan, offering a snapshot of your venture’s core aspects. This section should captivate and inform, succinctly summarizing the essence of your plan.
It’s crucial to include a clear mission statement, a brief description of your primary products or services, an overview of your target market, and key financial projections or achievements.
Think of it as an elevator pitch in written form: it should be compelling enough to engage potential investors or stakeholders and provide them with a clear understanding of what your business is about, its goals, and why it’s a promising investment.
Example: EcoTech is a technology company specializing in eco-friendly and sustainable products designed to reduce energy consumption and minimize waste. Our mission is to create innovative solutions that contribute to a cleaner, greener environment.
Our target market includes environmentally conscious consumers and businesses seeking to reduce their carbon footprint. We project a 200% increase in revenue within the first three years of operation.
Overview and Business Objectives
![business plan for online business plan](https://media.smallbiztrends.com/2023/07/business-plan-14.png)
In the Overview and Business Objectives section, outline your business’s core goals and the strategic approaches you plan to use to achieve them. This section should set forth clear, specific objectives that are attainable and time-bound, providing a roadmap for your business’s growth and success.
It’s important to detail how these objectives align with your company’s overall mission and vision. Discuss the milestones you aim to achieve and the timeframe you’ve set for these accomplishments.
This part of the plan demonstrates to investors and stakeholders your vision for growth and the practical steps you’ll take to get there.
Example: EcoTech’s primary objective is to become a market leader in sustainable technology products within the next five years. Our key objectives include:
- Introducing three new products within the first two years of operation.
- Achieving annual revenue growth of 30%.
- Expanding our customer base to over 10,000 clients by the end of the third year.
Company Description
![business plan for online business plan](https://media.smallbiztrends.com/2023/07/business-plan-13.png)
The Company Description section is your opportunity to delve into the details of your business. Provide a comprehensive overview that includes your company’s history, its mission statement, and its vision for the future.
Highlight your unique selling proposition (USP) – what makes your business stand out in the market. Explain the problems your company solves and how it benefits your customers.
Include information about the company’s founders, their expertise, and why they are suited to lead the business to success. This section should paint a vivid picture of your business, its values, and its place in the industry.
Example: EcoTech is committed to developing cutting-edge sustainable technology products that benefit both the environment and our customers. Our unique combination of innovative solutions and eco-friendly design sets us apart from the competition. We envision a future where technology and sustainability go hand in hand, leading to a greener planet.
Define Your Target Market
![business plan for online business plan](https://media.smallbiztrends.com/2023/07/business-plan-12.png)
Defining Your Target Market is critical for tailoring your business strategy effectively. This section should describe your ideal customer base in detail, including demographic information (such as age, gender, income level, and location) and psychographic data (like interests, values, and lifestyle).
Elucidate on the specific needs or pain points of your target audience and how your product or service addresses these. This information will help you know your target market and develop targeted marketing strategies.
Example: Our target market comprises environmentally conscious consumers and businesses looking for innovative solutions to reduce their carbon footprint. Our ideal customers are those who prioritize sustainability and are willing to invest in eco-friendly products.
Market Analysis
![business plan for online business plan](https://media.smallbiztrends.com/2023/07/business-plan-11.png)
The Market Analysis section requires thorough research and a keen understanding of the industry. It involves examining the current trends within your industry, understanding the needs and preferences of your customers, and analyzing the strengths and weaknesses of your competitors.
This analysis will enable you to spot market opportunities and anticipate potential challenges. Include data and statistics to back up your claims, and use graphs or charts to illustrate market trends.
This section should demonstrate that you have a deep understanding of the market in which you operate and that your business is well-positioned to capitalize on its opportunities.
Example: The market for eco-friendly technology products has experienced significant growth in recent years, with an estimated annual growth rate of 10%. As consumers become increasingly aware of environmental issues, the demand for sustainable solutions continues to rise.
Our research indicates a gap in the market for high-quality, innovative eco-friendly technology products that cater to both individual and business clients.
SWOT Analysis
![business plan for online business plan](https://media.smallbiztrends.com/2023/07/business-plan-10.png)
A SWOT analysis in your business plan offers a comprehensive examination of your company’s internal and external factors. By assessing Strengths, you showcase what your business does best and where your capabilities lie.
Weaknesses involve an honest introspection of areas where your business may be lacking or could improve. Opportunities can be external factors that your business could capitalize on, such as market gaps or emerging trends.
Threats include external challenges your business may face, like competition or market changes. This analysis is crucial for strategic planning, as it helps in recognizing and leveraging your strengths, addressing weaknesses, seizing opportunities, and preparing for potential threats.
Including a SWOT analysis demonstrates to stakeholders that you have a balanced and realistic understanding of your business in its operational context.
- Innovative and eco-friendly product offerings.
- Strong commitment to sustainability and environmental responsibility.
- Skilled and experienced team with expertise in technology and sustainability.
Weaknesses:
- Limited brand recognition compared to established competitors.
- Reliance on third-party manufacturers for product development.
Opportunities:
- Growing consumer interest in sustainable products.
- Partnerships with environmentally-focused organizations and influencers.
- Expansion into international markets.
- Intense competition from established technology companies.
- Regulatory changes could impact the sustainable technology market.
Competitive Analysis
![business plan for online business plan](https://media.smallbiztrends.com/2023/07/business-plan-9.png)
In this section, you’ll analyze your competitors in-depth, examining their products, services, market positioning, and pricing strategies. Understanding your competition allows you to identify gaps in the market and tailor your offerings to outperform them.
By conducting a thorough competitive analysis, you can gain insights into your competitors’ strengths and weaknesses, enabling you to develop strategies to differentiate your business and gain a competitive advantage in the marketplace.
Example: Key competitors include:
GreenTech: A well-known brand offering eco-friendly technology products, but with a narrower focus on energy-saving devices.
EarthSolutions: A direct competitor specializing in sustainable technology, but with a limited product range and higher prices.
By offering a diverse product portfolio, competitive pricing, and continuous innovation, we believe we can capture a significant share of the growing sustainable technology market.
Organization and Management Team
![business plan for online business plan](https://media.smallbiztrends.com/2023/07/business-plan-8.png)
Provide an overview of your company’s organizational structure, including key roles and responsibilities. Introduce your management team, highlighting their expertise and experience to demonstrate that your team is capable of executing the business plan successfully.
Showcasing your team’s background, skills, and accomplishments instills confidence in investors and other stakeholders, proving that your business has the leadership and talent necessary to achieve its objectives and manage growth effectively.
Example: EcoTech’s organizational structure comprises the following key roles: CEO, CTO, CFO, Sales Director, Marketing Director, and R&D Manager. Our management team has extensive experience in technology, sustainability, and business development, ensuring that we are well-equipped to execute our business plan successfully.
Products and Services Offered
![business plan for online business plan](https://media.smallbiztrends.com/2023/07/business-plan-7.png)
Describe the products or services your business offers, focusing on their unique features and benefits. Explain how your offerings solve customer pain points and why they will choose your products or services over the competition.
This section should emphasize the value you provide to customers, demonstrating that your business has a deep understanding of customer needs and is well-positioned to deliver innovative solutions that address those needs and set your company apart from competitors.
Example: EcoTech offers a range of eco-friendly technology products, including energy-efficient lighting solutions, solar chargers, and smart home devices that optimize energy usage. Our products are designed to help customers reduce energy consumption, minimize waste, and contribute to a cleaner environment.
Marketing and Sales Strategy
![business plan for online business plan](https://media.smallbiztrends.com/2023/07/business-plan-6.png)
In this section, articulate your comprehensive strategy for reaching your target market and driving sales. Detail the specific marketing channels you plan to use, such as social media, email marketing, SEO, or traditional advertising.
Describe the nature of your advertising campaigns and promotional activities, explaining how they will capture the attention of your target audience and convey the value of your products or services. Outline your sales strategy, including your sales process, team structure, and sales targets.
Discuss how these marketing and sales efforts will work together to attract and retain customers, generate leads, and ultimately contribute to achieving your business’s revenue goals.
This section is critical to convey to investors and stakeholders that you have a well-thought-out approach to market your business effectively and drive sales growth.
Example: Our marketing strategy includes digital advertising, content marketing, social media promotion, and influencer partnerships. We will also attend trade shows and conferences to showcase our products and connect with potential clients. Our sales strategy involves both direct sales and partnerships with retail stores, as well as online sales through our website and e-commerce platforms.
Logistics and Operations Plan
![business plan for online business plan](https://media.smallbiztrends.com/2023/07/business-plan-5.png)
The Logistics and Operations Plan is a critical component that outlines the inner workings of your business. It encompasses the management of your supply chain, detailing how you acquire raw materials and manage vendor relationships.
Inventory control is another crucial aspect, where you explain strategies for inventory management to ensure efficiency and reduce wastage. The section should also describe your production processes, emphasizing scalability and adaptability to meet changing market demands.
Quality control measures are essential to maintain product standards and customer satisfaction. This plan assures investors and stakeholders of your operational competency and readiness to meet business demands.
Highlighting your commitment to operational efficiency and customer satisfaction underlines your business’s capability to maintain smooth, effective operations even as it scales.
Example: EcoTech partners with reliable third-party manufacturers to produce our eco-friendly technology products. Our operations involve maintaining strong relationships with suppliers, ensuring quality control, and managing inventory.
We also prioritize efficient distribution through various channels, including online platforms and retail partners, to deliver products to our customers in a timely manner.
Financial Projections Plan
![business plan for online business plan](https://media.smallbiztrends.com/2023/07/business-plan-4.png)
In the Financial Projections Plan, lay out a clear and realistic financial future for your business. This should include detailed projections for revenue, costs, and profitability over the next three to five years.
Ground these projections in solid assumptions based on your market analysis, industry benchmarks, and realistic growth scenarios. Break down revenue streams and include an analysis of the cost of goods sold, operating expenses, and potential investments.
This section should also discuss your break-even analysis, cash flow projections, and any assumptions about external funding requirements.
By presenting a thorough and data-backed financial forecast, you instill confidence in potential investors and lenders, showcasing your business’s potential for profitability and financial stability.
This forward-looking financial plan is crucial for demonstrating that you have a firm grasp of the financial nuances of your business and are prepared to manage its financial health effectively.
Example: Over the next three years, we expect to see significant growth in revenue, driven by new product launches and market expansion. Our financial projections include:
- Year 1: $1.5 million in revenue, with a net profit of $200,000.
- Year 2: $3 million in revenue, with a net profit of $500,000.
- Year 3: $4.5 million in revenue, with a net profit of $1 million.
These projections are based on realistic market analysis, growth rates, and product pricing.
Income Statement
![business plan for online business plan](https://media.smallbiztrends.com/2023/07/business-plan-3.png)
The income statement , also known as the profit and loss statement, provides a summary of your company’s revenues and expenses over a specified period. It helps you track your business’s financial performance and identify trends, ensuring you stay on track to achieve your financial goals.
Regularly reviewing and analyzing your income statement allows you to monitor the health of your business, evaluate the effectiveness of your strategies, and make data-driven decisions to optimize profitability and growth.
Example: The income statement for EcoTech’s first year of operation is as follows:
- Revenue: $1,500,000
- Cost of Goods Sold: $800,000
- Gross Profit: $700,000
- Operating Expenses: $450,000
- Net Income: $250,000
This statement highlights our company’s profitability and overall financial health during the first year of operation.
Cash Flow Statement
![business plan for online business plan](https://media.smallbiztrends.com/2023/07/business-plan-2.png)
A cash flow statement is a crucial part of a financial business plan that shows the inflows and outflows of cash within your business. It helps you monitor your company’s liquidity, ensuring you have enough cash on hand to cover operating expenses, pay debts, and invest in growth opportunities.
By including a cash flow statement in your business plan, you demonstrate your ability to manage your company’s finances effectively.
Example: The cash flow statement for EcoTech’s first year of operation is as follows:
Operating Activities:
- Depreciation: $10,000
- Changes in Working Capital: -$50,000
- Net Cash from Operating Activities: $210,000
Investing Activities:
- Capital Expenditures: -$100,000
- Net Cash from Investing Activities: -$100,000
Financing Activities:
- Proceeds from Loans: $150,000
- Loan Repayments: -$50,000
- Net Cash from Financing Activities: $100,000
- Net Increase in Cash: $210,000
This statement demonstrates EcoTech’s ability to generate positive cash flow from operations, maintain sufficient liquidity, and invest in growth opportunities.
Section | Description | Example |
---|---|---|
Executive Summary | Brief overview of the business plan | Overview of EcoTech and its mission |
Overview & Objectives | Outline of company's goals and strategies | Market leadership in sustainable technology |
Company Description | Detailed explanation of the company and its unique selling proposition | EcoTech's history, mission, and vision |
Target Market | Description of ideal customers and their needs | Environmentally conscious consumers and businesses |
Market Analysis | Examination of industry trends, customer needs, and competitors | Trends in eco-friendly technology market |
SWOT Analysis | Evaluation of Strengths, Weaknesses, Opportunities, and Threats | Strengths and weaknesses of EcoTech |
Competitive Analysis | In-depth analysis of competitors and their strategies | Analysis of GreenTech and EarthSolutions |
Organization & Management | Overview of the company's structure and management team | Key roles and team members at EcoTech |
Products & Services | Description of offerings and their unique features | Energy-efficient lighting solutions, solar chargers |
Marketing & Sales | Outline of marketing channels and sales strategies | Digital advertising, content marketing, influencer partnerships |
Logistics & Operations | Details about daily operations, supply chain, inventory, and quality control | Partnerships with manufacturers, quality control |
Financial Projections | Forecast of revenue, expenses, and profit for the next 3-5 years | Projected growth in revenue and net profit |
Income Statement | Summary of company's revenues and expenses over a specified period | Revenue, Cost of Goods Sold, Gross Profit, Net Income |
Cash Flow Statement | Overview of cash inflows and outflows within the business | Net Cash from Operating Activities, Investing Activities, Financing Activities |
Tips on Writing a Business Plan
![business plan for online business plan](https://media.smallbiztrends.com/2023/07/business-plan-1.png)
1. Be clear and concise: Keep your language simple and straightforward. Avoid jargon and overly technical terms. A clear and concise business plan is easier for investors and stakeholders to understand and demonstrates your ability to communicate effectively.
2. Conduct thorough research: Before writing your business plan, gather as much information as possible about your industry, competitors, and target market. Use reliable sources and industry reports to inform your analysis and make data-driven decisions.
3. Set realistic goals: Your business plan should outline achievable objectives that are specific, measurable, attainable, relevant, and time-bound (SMART). Setting realistic goals demonstrates your understanding of the market and increases the likelihood of success.
4. Focus on your unique selling proposition (USP): Clearly articulate what sets your business apart from the competition. Emphasize your USP throughout your business plan to showcase your company’s value and potential for success.
5. Be flexible and adaptable: A business plan is a living document that should evolve as your business grows and changes. Be prepared to update and revise your plan as you gather new information and learn from your experiences.
6. Use visuals to enhance understanding: Include charts, graphs, and other visuals to help convey complex data and ideas. Visuals can make your business plan more engaging and easier to digest, especially for those who prefer visual learning.
7. Seek feedback from trusted sources: Share your business plan with mentors, industry experts, or colleagues and ask for their feedback. Their insights can help you identify areas for improvement and strengthen your plan before presenting it to potential investors or partners.
FREE Business Plan Template
To help you get started on your business plan, we have created a template that includes all the essential components discussed in the “How to Write a Business Plan” section. This easy-to-use template will guide you through each step of the process, ensuring you don’t miss any critical details.
The template is divided into the following sections:
- Mission statement
- Business Overview
- Key products or services
- Target market
- Financial highlights
- Company goals
- Strategies to achieve goals
- Measurable, time-bound objectives
- Company History
- Mission and vision
- Unique selling proposition
- Demographics
- Psychographics
- Pain points
- Industry trends
- Customer needs
- Competitor strengths and weaknesses
- Opportunities
- Competitor products and services
- Market positioning
- Pricing strategies
- Organizational structure
- Key roles and responsibilities
- Management team backgrounds
- Product or service features
- Competitive advantages
- Marketing channels
- Advertising campaigns
- Promotional activities
- Sales strategies
- Supply chain management
- Inventory control
- Production processes
- Quality control measures
- Projected revenue
- Assumptions
- Cash inflows
- Cash outflows
- Net cash flow
What is a Business Plan?
A business plan is a strategic document that outlines an organization’s goals, objectives, and the steps required to achieve them. It serves as a roadmap as you start a business , guiding the company’s direction and growth while identifying potential obstacles and opportunities.
Typically, a business plan covers areas such as market analysis, financial projections, marketing strategies, and organizational structure. It not only helps in securing funding from investors and lenders but also provides clarity and focus to the management team.
A well-crafted business plan is a very important part of your business startup checklist because it fosters informed decision-making and long-term success.
![business plan for online business plan](https://media.smallbiztrends.com/2023/03/How-to-Write-a-Business-Plan-Step-By-Step-in-2023.png)
Why You Should Write a Business Plan
Understanding the importance of a business plan in today’s competitive environment is crucial for entrepreneurs and business owners. Here are five compelling reasons to write a business plan:
- Attract Investors and Secure Funding : A well-written business plan demonstrates your venture’s potential and profitability, making it easier to attract investors and secure the necessary funding for growth and development. It provides a detailed overview of your business model, target market, financial projections, and growth strategies, instilling confidence in potential investors and lenders that your company is a worthy investment.
- Clarify Business Objectives and Strategies : Crafting a business plan forces you to think critically about your goals and the strategies you’ll employ to achieve them, providing a clear roadmap for success. This process helps you refine your vision and prioritize the most critical objectives, ensuring that your efforts are focused on achieving the desired results.
- Identify Potential Risks and Opportunities : Analyzing the market, competition, and industry trends within your business plan helps identify potential risks and uncover untapped opportunities for growth and expansion. This insight enables you to develop proactive strategies to mitigate risks and capitalize on opportunities, positioning your business for long-term success.
- Improve Decision-Making : A business plan serves as a reference point so you can make informed decisions that align with your company’s overall objectives and long-term vision. By consistently referring to your plan and adjusting it as needed, you can ensure that your business remains on track and adapts to changes in the market, industry, or internal operations.
- Foster Team Alignment and Communication : A shared business plan helps ensure that all team members are on the same page, promoting clear communication, collaboration, and a unified approach to achieving the company’s goals. By involving your team in the planning process and regularly reviewing the plan together, you can foster a sense of ownership, commitment, and accountability that drives success.
What are the Different Types of Business Plans?
In today’s fast-paced business world, having a well-structured roadmap is more important than ever. A traditional business plan provides a comprehensive overview of your company’s goals and strategies, helping you make informed decisions and achieve long-term success. There are various types of business plans, each designed to suit different needs and purposes. Let’s explore the main types:
- Startup Business Plan: Tailored for new ventures, a startup business plan outlines the company’s mission, objectives, target market, competition, marketing strategies, and financial projections. It helps entrepreneurs clarify their vision, secure funding from investors, and create a roadmap for their business’s future. Additionally, this plan identifies potential challenges and opportunities, which are crucial for making informed decisions and adapting to changing market conditions.
- Internal Business Plan: This type of plan is intended for internal use, focusing on strategies, milestones, deadlines, and resource allocation. It serves as a management tool for guiding the company’s growth, evaluating its progress, and ensuring that all departments are aligned with the overall vision. The internal business plan also helps identify areas of improvement, fosters collaboration among team members, and provides a reference point for measuring performance.
- Strategic Business Plan: A strategic business plan outlines long-term goals and the steps to achieve them, providing a clear roadmap for the company’s direction. It typically includes a SWOT analysis, market research, and competitive analysis. This plan allows businesses to align their resources with their objectives, anticipate changes in the market, and develop contingency plans. By focusing on the big picture, a strategic business plan fosters long-term success and stability.
- Feasibility Business Plan: This plan is designed to assess the viability of a business idea, examining factors such as market demand, competition, and financial projections. It is often used to decide whether or not to pursue a particular venture. By conducting a thorough feasibility analysis, entrepreneurs can avoid investing time and resources into an unviable business concept. This plan also helps refine the business idea, identify potential obstacles, and determine the necessary resources for success.
- Growth Business Plan: Also known as an expansion plan, a growth business plan focuses on strategies for scaling up an existing business. It includes market analysis, new product or service offerings, and financial projections to support expansion plans. This type of plan is essential for businesses looking to enter new markets, increase their customer base, or launch new products or services. By outlining clear growth strategies, the plan helps ensure that expansion efforts are well-coordinated and sustainable.
- Operational Business Plan: This type of plan outlines the company’s day-to-day operations, detailing the processes, procedures, and organizational structure. It is an essential tool for managing resources, streamlining workflows, and ensuring smooth operations. The operational business plan also helps identify inefficiencies, implement best practices, and establish a strong foundation for future growth. By providing a clear understanding of daily operations, this plan enables businesses to optimize their resources and enhance productivity.
- Lean Business Plan: A lean business plan is a simplified, agile version of a traditional plan, focusing on key elements such as value proposition, customer segments, revenue streams, and cost structure. It is perfect for startups looking for a flexible, adaptable planning approach. The lean business plan allows for rapid iteration and continuous improvement, enabling businesses to pivot and adapt to changing market conditions. This streamlined approach is particularly beneficial for businesses in fast-paced or uncertain industries.
- One-Page Business Plan: As the name suggests, a one-page business plan is a concise summary of your company’s key objectives, strategies, and milestones. It serves as a quick reference guide and is ideal for pitching to potential investors or partners. This plan helps keep teams focused on essential goals and priorities, fosters clear communication, and provides a snapshot of the company’s progress. While not as comprehensive as other plans, a one-page business plan is an effective tool for maintaining clarity and direction.
- Nonprofit Business Plan: Specifically designed for nonprofit organizations, this plan outlines the mission, goals, target audience, fundraising strategies, and budget allocation. It helps secure grants and donations while ensuring the organization stays on track with its objectives. The nonprofit business plan also helps attract volunteers, board members, and community support. By demonstrating the organization’s impact and plans for the future, this plan is essential for maintaining transparency, accountability, and long-term sustainability within the nonprofit sector.
- Franchise Business Plan: For entrepreneurs seeking to open a franchise, this type of plan focuses on the franchisor’s requirements, as well as the franchisee’s goals, strategies, and financial projections. It is crucial for securing a franchise agreement and ensuring the business’s success within the franchise system. This plan outlines the franchisee’s commitment to brand standards, marketing efforts, and operational procedures, while also addressing local market conditions and opportunities. By creating a solid franchise business plan, entrepreneurs can demonstrate their ability to effectively manage and grow their franchise, increasing the likelihood of a successful partnership with the franchisor.
Type of Business Plan | Purpose | Key Components | Target Audience |
---|---|---|---|
Startup Business Plan | Outlines the company's mission, objectives, target market, competition, marketing strategies, and financial projections. | Mission Statement, Company Description, Market Analysis, Competitive Analysis, Organizational Structure, Marketing and Sales Strategy, Financial Projections. | Entrepreneurs, Investors |
Internal Business Plan | Serves as a management tool for guiding the company's growth, evaluating its progress, and ensuring that all departments are aligned with the overall vision. | Strategies, Milestones, Deadlines, Resource Allocation. | Internal Team Members |
Strategic Business Plan | Outlines long-term goals and the steps to achieve them. | SWOT Analysis, Market Research, Competitive Analysis, Long-Term Goals. | Executives, Managers, Investors |
Feasibility Business Plan | Assesses the viability of a business idea. | Market Demand, Competition, Financial Projections, Potential Obstacles. | Entrepreneurs, Investors |
Growth Business Plan | Focuses on strategies for scaling up an existing business. | Market Analysis, New Product/Service Offerings, Financial Projections. | Business Owners, Investors |
Operational Business Plan | Outlines the company's day-to-day operations. | Processes, Procedures, Organizational Structure. | Managers, Employees |
Lean Business Plan | A simplified, agile version of a traditional plan, focusing on key elements. | Value Proposition, Customer Segments, Revenue Streams, Cost Structure. | Entrepreneurs, Startups |
One-Page Business Plan | A concise summary of your company's key objectives, strategies, and milestones. | Key Objectives, Strategies, Milestones. | Entrepreneurs, Investors, Partners |
Nonprofit Business Plan | Outlines the mission, goals, target audience, fundraising strategies, and budget allocation for nonprofit organizations. | Mission Statement, Goals, Target Audience, Fundraising Strategies, Budget. | Nonprofit Leaders, Board Members, Donors |
Franchise Business Plan | Focuses on the franchisor's requirements, as well as the franchisee's goals, strategies, and financial projections. | Franchise Agreement, Brand Standards, Marketing Efforts, Operational Procedures, Financial Projections. | Franchisors, Franchisees, Investors |
Using Business Plan Software
![business plan for online business plan](https://media.smallbiztrends.com/2023/07/business-plan.png)
Creating a comprehensive business plan can be intimidating, but business plan software can streamline the process and help you produce a professional document. These tools offer a number of benefits, including guided step-by-step instructions, financial projections, and industry-specific templates. Here are the top 5 business plan software options available to help you craft a great business plan.
1. LivePlan
LivePlan is a popular choice for its user-friendly interface and comprehensive features. It offers over 500 sample plans, financial forecasting tools, and the ability to track your progress against key performance indicators. With LivePlan, you can create visually appealing, professional business plans that will impress investors and stakeholders.
2. Upmetrics
Upmetrics provides a simple and intuitive platform for creating a well-structured business plan. It features customizable templates, financial forecasting tools, and collaboration capabilities, allowing you to work with team members and advisors. Upmetrics also offers a library of resources to guide you through the business planning process.
Bizplan is designed to simplify the business planning process with a drag-and-drop builder and modular sections. It offers financial forecasting tools, progress tracking, and a visually appealing interface. With Bizplan, you can create a business plan that is both easy to understand and visually engaging.
Enloop is a robust business plan software that automatically generates a tailored plan based on your inputs. It provides industry-specific templates, financial forecasting, and a unique performance score that updates as you make changes to your plan. Enloop also offers a free version, making it accessible for businesses on a budget.
5. Tarkenton GoSmallBiz
Developed by NFL Hall of Famer Fran Tarkenton, GoSmallBiz is tailored for small businesses and startups. It features a guided business plan builder, customizable templates, and financial projection tools. GoSmallBiz also offers additional resources, such as CRM tools and legal document templates, to support your business beyond the planning stage.
Software | Key Features | User Interface | Additional Features |
---|---|---|---|
LivePlan | Over 500 sample plans, financial forecasting tools, progress tracking against KPIs | User-friendly, visually appealing | Allows creation of professional-looking business plans |
Upmetrics | Customizable templates, financial forecasting tools, collaboration capabilities | Simple and intuitive | Provides a resource library for business planning |
Bizplan | Drag-and-drop builder, modular sections, financial forecasting tools, progress tracking | Simple, visually engaging | Designed to simplify the business planning process |
Enloop | Industry-specific templates, financial forecasting tools, automatic business plan generation, unique performance score | Robust, user-friendly | Offers a free version, making it accessible for businesses on a budget |
Tarkenton GoSmallBiz | Guided business plan builder, customizable templates, financial projection tools | User-friendly | Offers CRM tools, legal document templates, and additional resources for small businesses |
Business Plan FAQs
What is a good business plan.
A good business plan is a well-researched, clear, and concise document that outlines a company’s goals, strategies, target market, competitive advantages, and financial projections. It should be adaptable to change and provide a roadmap for achieving success.
What are the 3 main purposes of a business plan?
The three main purposes of a business plan are to guide the company’s strategy, attract investment, and evaluate performance against objectives. Here’s a closer look at each of these:
- It outlines the company’s purpose and core values to ensure that all activities align with its mission and vision.
- It provides an in-depth analysis of the market, including trends, customer needs, and competition, helping the company tailor its products and services to meet market demands.
- It defines the company’s marketing and sales strategies, guiding how the company will attract and retain customers.
- It describes the company’s organizational structure and management team, outlining roles and responsibilities to ensure effective operation and leadership.
- It sets measurable, time-bound objectives, allowing the company to plan its activities effectively and make strategic decisions to achieve these goals.
- It provides a comprehensive overview of the company and its business model, demonstrating its uniqueness and potential for success.
- It presents the company’s financial projections, showing its potential for profitability and return on investment.
- It demonstrates the company’s understanding of the market, including its target customers and competition, convincing investors that the company is capable of gaining a significant market share.
- It showcases the management team’s expertise and experience, instilling confidence in investors that the team is capable of executing the business plan successfully.
- It establishes clear, measurable objectives that serve as performance benchmarks.
- It provides a basis for regular performance reviews, allowing the company to monitor its progress and identify areas for improvement.
- It enables the company to assess the effectiveness of its strategies and make adjustments as needed to achieve its objectives.
- It helps the company identify potential risks and challenges, enabling it to develop contingency plans and manage risks effectively.
- It provides a mechanism for evaluating the company’s financial performance, including revenue, expenses, profitability, and cash flow.
Can I write a business plan by myself?
Yes, you can write a business plan by yourself, but it can be helpful to consult with mentors, colleagues, or industry experts to gather feedback and insights. There are also many creative business plan templates and business plan examples available online, including those above.
We also have examples for specific industries, including a using food truck business plan , salon business plan , farm business plan , daycare business plan , and restaurant business plan .
Is it possible to create a one-page business plan?
Yes, a one-page business plan is a condensed version that highlights the most essential elements, including the company’s mission, target market, unique selling proposition, and financial goals.
How long should a business plan be?
A typical business plan ranges from 20 to 50 pages, but the length may vary depending on the complexity and needs of the business.
What is a business plan outline?
A business plan outline is a structured framework that organizes the content of a business plan into sections, such as the executive summary, company description, market analysis, and financial projections.
What are the 5 most common business plan mistakes?
The five most common business plan mistakes include inadequate research, unrealistic financial projections, lack of focus on the unique selling proposition, poor organization and structure, and failure to update the plan as circumstances change.
What questions should be asked in a business plan?
A business plan should address questions such as: What problem does the business solve? Who is the specific target market ? What is the unique selling proposition? What are the company’s objectives? How will it achieve those objectives?
What’s the difference between a business plan and a strategic plan?
A business plan focuses on the overall vision, goals, and tactics of a company, while a strategic plan outlines the specific strategies, action steps, and performance measures necessary to achieve the company’s objectives.
How is business planning for a nonprofit different?
Nonprofit business planning focuses on the organization’s mission, social impact, and resource management, rather than profit generation. The financial section typically includes funding sources, expenses, and projected budgets for programs and operations.
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9 Business Plan Examples to Inspire Your Own (2024)
Need support creating your business plan? Check out these business plan examples for inspiration and guidance.
![business plan for online a stock of books on purple background representing business plan examples](https://cdn.shopify.com/s/files/1/0070/7032/files/business_20plan_20examples.jpg?v=1685397795)
Any aspiring entrepreneur researching how to start a business will likely be advised to write a business plan. But few resources provide business plan examples to really guide you through writing one of your own.
Here are some real-world and illustrative business plan examples to help you craft your business plan .
Business plan format: 9 examples
The business plan examples in this article follow this template:
- Executive summary
- Company description
- Market analysis
- Products and services
- Marketing plan
- Logistics and operations plan
- Financial plan
- Customer segmentation
1. Executive summary
Your executive summary is a page that gives a high-level overview of the rest of your business plan. While it appears at the beginning, it’s easiest to write this section last, as there are details further in the report you’ll need to include here.
In this free business plan template , the executive summary is four paragraphs and takes a little over half a page. It clearly and efficiently communicates what the business does and what it plans to do, including its business model and target customers.
![business plan for online Executive summary for Paw Print Post detailing the business model and target customers.](https://cdn.shopify.com/s/files/1/0070/7032/files/pawprintexecutivesummary.png?v=1724921697)
2. Company description
You might repurpose your company description elsewhere, like on your About page , social media profile pages, or other properties that require a boilerplate description of your small business.
Soap brand ORRIS has a blurb on its About page that could easily be repurposed for the company description section of its business plan.
![business plan for online ORRIS homepage promoting cleaner ingredients for skincare with a detailed description.](https://cdn.shopify.com/s/files/1/0070/7032/files/orrishomepage.png?v=1724921697)
You can also go more in-depth with your company overview and include the following sections, like in this business plan example for Paw Print Post:
Business structure
This section outlines how you registered your business —as an LLC , sole proprietorship, corporation, or other business type : “Paw Print Post will operate as a sole proprietorship run by the owner, Jane Matthews.”
Nature of the business
“Paw Print Post sells unique, one-of-a-kind digitally printed cards that are customized with a pet’s unique paw prints.”
“Paw Print Post operates primarily in the pet industry and sells goods that could also be categorized as part of the greeting card industry.”
Background information
“Jane Matthews, the founder of Paw Print Post, has a long history in the pet industry and working with animals, and was recently trained as a graphic designer. She’s combining those two loves to capture a niche in the market: unique greeting cards customized with a pet’s paw prints, without needing to resort to the traditional (and messy) options of casting your pet’s prints in plaster or using pet-safe ink to have them stamp their ’signature.’”
Business objectives
“Jane will have Paw Print Post ready to launch at the Big Important Pet Expo in Toronto to get the word out among industry players and consumers alike. After two years in business, Jane aims to drive $150,000 in annual revenue from the sale of Paw Print Post’s signature greeting cards and to have expanded into two new product categories.”
“Jane Matthews is the sole full-time employee of Paw Print Post but hires contractors as needed to support her workflow and fill gaps in her skill set. Notably, Paw Print Post has a standing contract for five hours a week of virtual assistant support with Virtual Assistants Pro.”
Your mission statement may also make an appearance here. Passionfruit shares its mission statement on its company website, and it would also work well in its example business plan.
![business plan for online Passionfruit About page with a person in a "Forever Queer" t-shirt.](https://cdn.shopify.com/s/files/1/0070/7032/files/passionfruit_3f81aaec-1f31-4324-b9e5-ff5bbefcf0f2.png?v=1724921697)
3. Market analysis
The market analysis consists of research about supply and demand , your target demographics, industry trends, and the competitive landscape. You might run a SWOT analysis and include that in your business plan.
Here’s an example SWOT analysis for an online tailored-shirt business:
![business plan for online SWOT analysis chart with strengths, weaknesses, opportunities, and threats.](https://cdn.shopify.com/s/files/1/0070/7032/files/swotanalysischart.png?v=1724921697)
You’ll also want to do a competitive analysis as part of the market research component of your business plan. This will tell you which businesses you’re up against and give you ideas on how to differentiate your brand. A broad competitive analysis might include:
- Target customers
- Unique value proposition , or what sets the products apart
- Sales pitch
- Price points for products
- Shipping policy
4. Products and services
This section of your business plan describes your offerings—which products and services do you sell to your customers? Here’s an example for Paw Print Post that explains its line of custom greeting cards, along with details on what makes its products unique.
![business plan for online Products and services section of Paw Print Post showing customized greeting cards with paw prints.](https://cdn.shopify.com/s/files/1/0070/7032/files/productsandservices.png?v=1724921697)
5. Marketing plan
It’s always a good idea to develop a marketing plan before you launch your business. Your marketing plan shows how you’ll get the word out about your business, and it’s an essential component of your business plan as well.
![business plan for online Business plan sample showing marketing plan for Paw Print Post.](https://cdn.shopify.com/s/files/1/0070/7032/files/marketingplan.png?v=1724921697)
The Paw Print Post focuses on four Ps: price, product, promotion, and place. However, you can take a different approach with your marketing plan. Maybe you can pull from your existing marketing strategy , or maybe you break it down by the different marketing channels. Whatever approach you take, your marketing plan should describe how you intend to promote your business and offerings to potential customers.
6. Logistics and operations plan
The Paw Print Post example considered suppliers, production, facilities, equipment, shipping and fulfillment, and inventory. This includes any raw materials needed to produce the products.
![business plan for online Business plan example with a logistics and operations plan for Paw Print Post.](https://cdn.shopify.com/s/files/1/0070/7032/files/logisticsandoperations.png?v=1724921697)
7. Financial plan
The financial plan provides a breakdown of sales, revenue, profit, expenses, and other relevant financial metrics related to funding and profiting from your business.
Ecommerce brand Nature’s Candy’s financial plan breaks down predicted revenue, expenses, and net profit in graphs.
![business plan for online Bar chart illustrating monthly expenses and direct costs for a business from January to December.](https://cdn.shopify.com/s/files/1/0070/7032/files/naturescandymonthlyexpenses.png?v=1724921697)
It then dives deeper into the financials to include:
- Funding needs
- Projected profit-and-loss statement
- Projected balance sheet
- Projected cash-flow statement
You can use a financial plan spreadsheet to build your own financial statements, including income statement, balance sheet, and cash-flow statement.
![business plan for online Income statement template created by Shopify with sales, cost of sales, gross margin, and expenses.](https://cdn.shopify.com/s/files/1/0070/7032/files/incomestatement.png?v=1724921697)
8. Customer segmentation
Customer segmentation means dividing your target market into groups based on specific characteristics. These characteristics can be demographics, psychographics, behavior, or geography. Your business plan will provide detailed information on each segment, like its size and growth potential, so you can show why they are valuable to your business.
Airsign , an eco-friendly vacuum cleaner company, faced the challenge of building a sustainable business model in the competitive home appliance market. They identified three key customer personas to target:
- Design-oriented urban dwellers
- Millennials moving to suburbs
- Older consumers seeking high-quality appliances
The company utilized Shopify’s customer segmentation tools to gain insights and take action to target them. Airsign created targeted segments for specific marketing initiatives.
Put your customer data to work with Shopify’s customer segmentation
Shopify’s built-in segmentation tools help you discover insights about your customers, build segments as targeted as your marketing plans with filters based on your customers’ demographic and behavioral data, and drive sales with timely and personalized emails.
9. Appendix
The appendix provides in-depth data, research, or documentation that supports the claims and projections made in the main business plan. It includes things like market research, finance, résumés, product specs, and legal documents.
Readers can access detailed info in the appendix, but the main plan stays focused and easy to read. Here’s an example from a fictional clothing brand called Bloom:
Appendix: Bloom Business Plan
Types of business plans, and what to include for each
This lean business plan is meant to be high level and easy to understand at a glance. You’ll want to include all of the same sections in one-page business plan, but make sure they’re truncated and summarized:
- Executive summary: truncated
- Market analysis: summarized
- Products and services: summarized
- Marketing plan: summarized
- Logistics and operations plan: summarized
- Financials: summarized
A startup business plan is for a new business. Typically, these plans are developed and shared to secure funding . As such, there’s a bigger focus on the financials, as well as on other sections that determine viability of your business idea—market research, for example:
- Market analysis: in-depth
- Financials: in-depth
Your internal business plan is meant to keep your team on the same page and aligned toward the same goal:
A strategic, or growth, business plan is a big-picture, long-term look at your business. As such, the forecasts tend to look further into the future, and growth and revenue goals may be higher. Essentially, you want to use all the sections you would in a normal business plan and build upon each:
- Market analysis: comprehensive outlook
- Products and services: for launch and expansion
- Marketing plan: comprehensive outlook
- Logistics and operations plan: comprehensive outlook
- Financials: comprehensive outlook
Feasibility
Your feasibility business plan is sort of a pre-business plan—many refer to it as simply a feasibility study. This plan essentially lays the groundwork and validates that it’s worth the effort to make a full business plan for your idea. As such, it’s mostly centered around research:
Nonprofit business plans are used to attract donors, grants, and partnerships. They focus on what their mission is, how they measure success, and how they get funded. You’ll want to include the following sections in addition to a traditional business plan:
- Organization description
- Need statement
- Programs and services
- Fundraising plan
- Partnerships and collaborations
- Impact measurement
Set yourself up for success as a business owner
Building a good business plan serves as a roadmap you can use for your ecommerce business at launch and as you reach each of your business goals. Business plans create accountability for entrepreneurs and synergy among teams, regardless of your business model .
Kickstart your ecommerce business and set yourself up for success with an intentional business planning process—and with the sample business plans above to guide your own path.
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Business plan examples FAQ
How do i write a simple business plan.
To write a simple business plan, begin with an executive summary that outlines your business and your plans. Follow this with sections detailing your company description, market analysis, organization and management structure, product or service, marketing and sales strategy, and financial projections. Each section should be concise and clearly illustrate your strategies and goals.
What is the best format to write a business plan?
The best business plan format presents your plan in a clear, organized manner, making it easier for potential investors to understand your business model and goals. Always begin with the executive summary and end with financial information or appendices for any additional data.
What are the 4 key elements of a business plan?
- Executive summary: A concise overview of the company’s mission, goals, target audience, and financial objectives.
- Business description: A description of the company’s purpose, operations, products and services, target markets, and competitive landscape.
- Market analysis: An analysis of the industry, market trends, potential customers, and competitors.
- Financial plan: A detailed description of the company’s financial forecasts and strategies.
What are the 3 main points of a business plan?
- Concept: Your concept should explain the purpose of your business and provide an overall summary of what you intend to accomplish.
- Contents: Your content should include details about the products and services you provide, your target market, and your competition.
- Cash flow: Your cash flow section should include information about your expected cash inflows and outflows, such as capital investments, operating costs, and revenue projections.
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Start With Your Idea
Craft Your Vision: Jumpstart your business journey with a brief description of your business. Acknowledge your business type and let us seamlessly transform it into a meticulously structured plan.
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Series Of Guided Questions
Easily navigate through each section with Plannit's step-by-step guidance. Enter your own detailed solutions or leverage with AI-generated content and receive helpful prompts and ideas along the way. Plannit's AI capabilities provide insightful and precise content for market analysis, financial projections, marketing strategies, sales plan and more.
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Collaborate With Your Partners
Bring your team over! PlannitAI provides a dedicated space where you can invite team members to view, shape and refine your online business plan. With or without the help of our AI model You can reword, rephrase, prolong and shorten sections to your liking. Collaborate in real-time to ensure your business strategy benefits from diverse insights and expertise, leading to a well-rounded and robust plan.
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Funding Ready Business Plan
Executive summary, company overview.
Problem Statement
Business Description
Mission Statement
Business Model
Products and Services
Additional Features
Revenue Model
Market Analysis
Target Market
Market Size and Segments
Unique Value Proposition
Risks and Mitigations
Identified Risks
Mitigation Strategies
Financial Overview
Income Statement
Marketing and Sales Plan
Focus On Your Vision
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Key Features & Benefits
Ai editing companion.
Modify and regenerate sections of your business plan using premade or custom prompts. Our AI will help you refine your plan to perfection.
Multi-User Collaboration
Invite team members with easy sharing to collaborate on your business plan in real-time. Communicate and make changes together. Collaborate with your partners in real-time as you perfect your plan.
Education Center
Immerse yourself in a rich library of articles, tools, templates, webinars and resources for continuous business and professional growth. Learn all about the key aspects of starting, running and growing a business.
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Our algorithms are powered the latest in AI technology to ensure the most accurate and relevant output. We use OpenAI's GPT 4o and 4o-mini engines for the perfect blend of accuracy and speed.
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We recommend a variety of useful tools and resurces that help sustain your growth. We only recommend the best in the business. Filter your needs and equip yourself with the best tools.
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Financial Projections
Take an additional questionnaire about your financial trajectory and get a detailed financial projection + 3 year income statement for your business.
Tools and Templates
Plannit's comprehensive suite that accompany business planning. From pitch decks to financial models, we have you covered.
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Frequently Asked Questions (FAQ)
- Initiate with Your Business Concept: Lay the Groundwork: Start by introducing your business idea into Plannit AI's Business Plan Generator. This first step is crucial, as it sets the tone for a tailored, insightful business plan that truly resonates with your vision. Capture the Essence: Our platform is designed to grasp the nuances of your concept, ensuring that the generated plan accurately reflects the core and potential of your business.
- Navigate Through the AI-Guided Questionnaire: Tailored Interactive Experience: Plannit AI’s AI-guided questionnaire is your interactive guide through the planning process. It meticulously gathers information about your business's objectives, strategies, and market positioning, ensuring a comprehensive and reflective plan. Intelligent Feedback and Suggestions: As you progress through the questionnaire, benefit from smart prompts and suggestions, ensuring that your plan is not just detailed but also strategically sound and aligned with industry standards.
- Generate Your Plan with Advanced AI: Intuitive Plan Creation: With the questionnaire complete, Plannit AI's advanced algorithms intelligently analyze your responses. They then craft a detailed, customizable, and strategically aligned business plan, providing you with a structured, coherent, and actionable format. Benefit from AI-Powered Insights: Plannit AI offers AI-driven insights and suggestions, ensuring your plan is not just a document but a strategic tool equipped with tailored AI prompts and an in-app plan editor. Get inspired by browsing through our sample business plans, a collection of successful strategies across various industries.
- Finalize Your Plan with Confidence: Dynamic Adaptation and Refinement: Plannit AI recognizes that a business plan is a living document. Our platform allows for continuous adaptation and refinement, ensuring your strategy remains agile, relevant, and aligned with your evolving business goals. Professional Presentation and Sharing: Once your plan meets your standards, utilize Plannit AI's export features to present your plan professionally. Choose between various formats for exporting your business plan, ready to impress stakeholders, attract investors, or guide your team. Review and Adapt: Ensure your business plan is a living document, ready to evolve with your growing business. Plannit AI's dynamic platform allows you to adapt your strategy as new opportunities or challenges arise.
- Roadmap for Success: At its core, a business plan acts as a strategic guide, providing detailed steps on how your business will achieve its objectives. It helps you navigate the startup phase, manage growth effectively, and tackle unforeseen challenges with a well-thought-out strategy.
- Securing Funding: For startups and businesses looking to expand, a business plan is crucial for securing loans or attracting investors. It demonstrates to potential financial backers that your business has a clear vision, a solid strategy for profitability, and a plan for delivering returns on their investment.
- Informed Decision-Making: A well-prepared business plan offers valuable insights into your market, competition, and potential challenges. This information is vital for making informed decisions, from day-to-day operations to long-term strategic shifts.
- Market Analysis and Strategy: It allows you to conduct an in-depth analysis of your target market, understand customer needs, and position your product or service effectively. The marketing strategy outlined in your business plan helps in identifying the best channels and tactics to reach your audience and achieve market penetration.
- Financial Planning: One of the most critical components of a business plan is the financial forecast. It outlines your funding requirements, expected revenue, profit margins, and cash flow projections. This section is essential for budgeting, financial management, and ensuring the financial viability of your business.
- Goal Setting and Performance Measurement: A business plan sets clear, measurable goals and objectives. It provides a framework for monitoring performance, measuring success, and making necessary adjustments to stay on track.
- Aspiring Entrepreneurs: If you're at the idea stage, looking to transform your vision into a viable business, Plannit AI offers the tools and guidance to bring your concept to life. Our platform helps you articulate your business idea, define your target market, and develop a solid plan to turn your dream into reality.
- Students and Educators: For students delving into the intricacies of business planning and educators teaching the fundamentals of entrepreneurship, Plannit AI serves as an invaluable resource. It provides a practical, hands-on tool for learning and teaching how to create detailed business plans, analyze markets, and understand financials in a real-world context.
- Startup Founders: In the dynamic startup environment, Plannit AI is the ideal partner for founders looking to pivot quickly, secure funding, or understand their competitive landscape. With our AI-driven insights and market analysis tools, startups can make informed decisions and adapt their strategies to thrive in competitive markets.
- Small Business Owners: For small business owners seeking to optimize their operations, expand their customer base, or explore new markets, Plannit AI offers targeted solutions. Our platform simplifies the planning process, enabling owners to focus on growth while managing the day-to-day challenges of running their business.
- Consultants and Freelancers: Consultants and freelancers specializing in business development, strategic planning, or financial advising will find Plannit AI a powerful addition to their toolkit. It allows them to provide clients with comprehensive, data-driven business plans and strategies, enhancing the value of their services.
- Non-Profit Organizations: Leaders of non-profit organizations can leverage Plannit AI to plan initiatives, secure funding, and manage resources more efficiently. Our platform helps non-profits articulate their mission, set achievable goals, and measure their impact, ensuring they can make a difference in their communities.
- Innovators and Inventors: Individuals looking to commercialize innovative products or technologies can use Plannit AI to navigate the complexities of bringing new ideas to market. From patent strategies to go-to-market plans, our platform covers all bases, ensuring innovators can focus on what they do best.
- Small Business Development Centers (SBDCs) and Government Agencies: Government and SBA backed entities can greatly benefit from integrating Plannit AI into their services, enhancing their ability to support a larger number of clients more efficiently. By facilitating quicker, more in-depth business plan development, these organizations can spend more time assisting with plan execution and less time on creation, ultimately serving their communities more effectively.
- Anyone with a Business Idea: Ultimately, Plannit AI is for anyone with a business idea, regardless of industry, experience, or stage of business development. Our mission is to democratize business planning, making it accessible, understandable, and actionable for everyone.
- Interactive Questionnaire and ChatGPT Integration: Plannit AI transforms the business planning process into an engaging conversation. Through our advanced ChatGPT integration, we offer a questionnaire that dynamically adapts to your responses, ensuring your plan is personalized, comprehensive, and aligned with your business goals.
- Dynamic Planning Environment: Unlike static templates provided by many, Plannit AI introduces a living platform that grows with your business. It features real-time updates, strategic insights, and a feedback mechanism that keeps your business plan current and actionable.
- Extensive Educational Resources: Our Education Center is packed with articles, guides, and sample plans to bolster your planning process. It's designed to arm you with the knowledge to navigate the complexities of your industry confidently.
- Enhanced Collaboration and Customization: Recognizing the collaborative essence of business planning, Plannit AI supports team efforts with multi-user editing, annotations, and feedback features, ensuring a comprehensive approach to your strategy.
- Customer Success Stories: Our users' achievements are a testament to Plannit AI's effectiveness. These success stories illustrate how diverse businesses have utilized our platform for strategic planning and growth.
- Tailored Business Plan Creation: Our platform stands out with its tailored approach, featuring customizable templates that directly cater to your business type and industry, making plan creation straightforward and relevant.
- Content Generation:: ChatGPT helps draft various sections of a business plan, from executive summaries to marketing strategies, by providing structured and coherent text based on the prompts given.
- Strategic Insights: It can offer suggestions on business strategies by analyzing trends and providing examples from a wide range of industries.
- Financial Planning: While it can't replace professional financial advice, ChatGPT can guide the structure of financial projections and statements, helping you consider important financial aspects of your plan.
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🤖 Free Business Plan Generator (AI-Powered)
Starting a business is an exciting journey, filled with aspirations and ambitions, yet crafting a solid business plan can sometimes feel like navigating through a dense fog. The AI-Powered Business Plan Generator shines a light on this path, offering a straightforward way to outline your vision, strategies, and financial forecasts. By providing customized, coherent business plans, this tool assists in laying down the foundation of your entrepreneurial dream, ensuring every aspect is addressed. It simplifies the planning process, enabling you to focus on bringing your business idea to life with confidence and clarity.
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Writing a business plan can often feel like navigating through a dense forest without a map. You know your destination—securing investment, defining your business strategy, or setting clear objectives—but the path isn't always clear. Enter the AI-powered business plan generator, a tool designed to illuminate the way forward. This guide will walk you through the essentials of crafting a comprehensive business plan, touching upon the traditional elements that captivate stakeholders. In the final stretch, we'll introduce how an AI-powered business plan generator can streamline this process, making it more accessible and less time-consuming.
How to create a Business Plan
Now that you're familiar with the executive summary, let's tackle how you can create the rest of your business plan.
You can start manually by outlining your plan's structure and filling in the details step by step, or opt for a business plan generator to streamline the process.
Either method requires careful consideration of each section to ensure your plan is thorough and compelling.
Manual Methods for creating a Business Plan
You'll start with the Executive Summary, distilling your business idea into a compelling snapshot that captures attention.
Next, you'll outline your Company Overview, providing a clear picture of who you are and what you stand for.
Then, lay out your Business Objectives, Products and Services, and your Market Analysis Approach to build a solid foundation for your plan.
Executive Summary Essentials
Although it's often crafted last, the Executive Summary stands as the crucial opener of your business plan. It distills key aspects such as your mission, product highlights, and financial ambitions for quick investor insight. It encapsulates your company's essence for investors and maps out the business plan development milestones.
Ensure it crisply outlines your executive summary, underscoring the company's financial goals. This will help capture investors' attention right off the bat.
Company Overview
Begin your company overview by detailing your business's foundational elements, including its name, location, and the team driving its operations.
Here's what to include:
- A clear description of your business structure and ownership.
- The mission statement that defines your business's purpose.
- An outline of the products or services you offer.
- Background information that paints a picture of your company's history and objectives.
Business Objectives
To set your business on the path to success, start by defining clear and measurable objectives that reflect both your immediate and long-term aspirations.
Align your business objectives with strategic objectives to meet financial goals.
Conduct market research to fine-tune your target market strategies .
Ensure company goals are realistic and adaptable, setting a course for growth and market competitiveness.
Regular updates keep your plan relevant.
Products and Services
After setting clear business objectives, focus on articulating the core of your offering by detailing the products and services your business provides. Your description should also include:
- Unique features and benefits of each product or service.
- Specific products' competitive advantages.
- Your strategy for sales, distribution, and supply chain.
- Trademarks and market placement for your products and services.
Market Analysis Approach
A thorough market analysis is crucial for your business plan as it reveals the dynamics within your target market and guides your competitive strategy .
You'll identify potential customers, understand established market trends, and analyze how competitors differentiate themselves.
This knowledge shapes your sales plan and informs your marketing and sales efforts, highlighting opportunities in an otherwise crowded marketplace and showcasing your grasp of the competitive landscape.
Marketing and Sales Strategies
Crafting a marketing and sales strategy requires precise identification of your target customers to ensure your message resonates and spurs action. Here's how to proceed:
- Define your target market for the new product.
- Develop a pricing and sales channel approach.
- Design a marketing plan with promotional tactics.
- Analyze market trends to refine your strategy.
Stay focused on meeting customer needs and differentiating from competitors.
Financial Analysis and Projections
Diving into the financials, you'll need to gather historical data and conduct a thorough analysis of revenue streams , costs, and profit margins to inform your projections for the next three to five years.
Your financial plan hinges on these insights.
Operations Plan
To ensure your business runs like a well-oiled machine, start by mapping out your key operational processes and procedures. Your operations plan is a vital section of your business plan. Here's what to include:
- Outline technology's role in business operations.
- Develop a comprehensive staffing plan.
- Establish a robust inventory management system.
- Implement quality control measures to provide additional assurance of product or service excellence.
Funding Requirements
Having established the operational foundations of your business, let's now focus on determining the capital necessary to fuel your growth and operational needs.
Outline your funding requirements by presenting clear financial data, including projected income, balance sheets, and cash flows.
You'll need this to secure funding from venture capital firms or potential investors, ensuring they grasp how their capital will propel your business towards its targets.
Appendices and Exhibits
When crafting your business plan, don't overlook the appendices and exhibits; these sections provide the substantiating details that reinforce your proposal's integrity. Include:
Documents that outline key personnel qualifications and experience.
Details on intellectual property, such as patents.
Additional information for financial institutions, like credit histories.
Contracts, leases, or other legal documents relevant to your business.
Using a Business Plan Generator
You might wonder why you'd use a Business Plan Generator—these tools streamline the planning process, making it easier for you to focus on the core aspects of your strategy.
To get started, you'll follow a series of steps that help structure your executive summary, goals, and market analysis within a proven framework.
The benefits are clear: using a generator can save you time and provide you with a professional, investor-ready plan.
Steps to use the Business Plan Generator
To create a business plan using a generator, start by selecting a template that aligns with your industry and business type.
Here are the steps to use a business plan generator:
- Identify Your Business Details : Start by providing the name of your business and the industry it operates in. This foundational step sets the stage for the tailored guidance the generator can offer.
- Describe Your Offerings : Clearly articulate what products or services your business sells or offers. This will help the generator understand the value proposition of your business.
- Define Your Target Audience : Specify who your ideal customers are, including demographic information. Understanding your target audience is crucial for creating a focused and effective business plan.
- Outline Your Marketing Plan : Detail your strategies for promoting your business. This includes how you plan to reach your target audience and differentiate yourself from competitors.
- Detail Your Operational Strategy : Explain how your business will operate on a day-to-day basis. Include information on your supply chain, logistics, and any other operational details.
- Provide Financial Information : Input how much money you need to start your business and project how much revenue it will generate. This financial planning is critical for assessing the feasibility of your business idea.
- Set Business Objectives : List what you aim to achieve with your business in the short term and the long term. These goals will guide the direction of your business strategy.
- Click on Generate : After entering all the necessary information, click the "generate" button to create your personalised business plan. This plan will be tailored to the specifics of your business, providing a roadmap for success.
Benefits of using a Business Plan Generator
Harnessing a business plan generator can significantly streamline the process, saving you both time and effort as you craft a detailed blueprint for your venture.
Here are the benefits:
- Provides a structured framework to write a business plan efficiently.
- Helps identify opportunities in new markets.
- Enhances financial literacy through budgeting and forecasting tools.
- Clarifies business objectives, aiding in communication with stakeholders.
Tips for Creating a Business Plan
When crafting your business plan these tips collectively form a comprehensive business plan, providing a roadmap for your business and presenting a compelling case to investors and lenders.
Here are the tips for creating a business plan:
- Articulate your mission and vision succinctly.
- Outline your offerings and financial ambitions.
- Provide a snapshot of your business's financial health and market potential.
- Clarify the business structure ( sole proprietorship , partnership, corporation).
- Highlight ownership details.
- Showcase key employees, emphasizing their expertise.
- Define short- and long-term goals for your business.
- Align goals with your strategic direction.
- Establish a direct link between financing needs and future growth.
- Describe your offerings and emphasize how they meet market needs.
- Support claims with market research.
- Demonstrate a thorough understanding of your competition.
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Business plan template
If you’re looking for a way to start your business off on the right foot, a business plan template can help you establish the foundation for your strategy. Get started in a few clicks with Asana’s free business plan template.
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You’re pumped—you just thought of the greatest business idea ever. You want to get started, but you don’t have a plan laid out. You need a loan to get your idea off the ground, and the bank wants to see an in-depth business plan. We’re here to help.
What is a business plan template?
A business plan template is a framework that helps you solidify your ideas in an organized format. Our free business plan template walks you through how to create a new business from scratch, or re-imagine your existing business in a new market.
What components are included in a business plan template?
Our business plan template covers what an organization wants to achieve within three to five years. By using our template, you’ll have a place to capture all of the major information you need in order to complete your business plan. That includes:
Company description : Information like your executive summary , your company’s mission statement and vision, and your founder’s bio.
Product and services: A high-level overview of what your company provides, including core products or services. This may also include how your product is developed, any potential screenshots or prototypes of your product, and pricing plans.
Marketing plan: How you plan to bring your product into market at a high level. You can add information like a SWOT analysis , target market research, and brand positioning in this section.
Financial plan: Important financial information such as balance sheets, a break-even analysis, and your cash flow projections.
Management and organization information: Information on your company’s founders, executive team, and the board of directors.
How to use our free business plan template
Using Asana’s free business plan template is simple. Start by creating a new project with our free template. From there, add relevant information for your specific business plan in the sections provided in our template. If there’s more information you want to include in your business plan, you’re free to add sections, custom fields, or additional tasks to make this template fit your needs.
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Reporting . Reporting in Asana translates project data into visual charts and digestible graphs. By reporting on work where work lives, you can reduce duplicative work and cut down on unnecessary app switching. And, because all of your team’s work is already in Asana, you can pull data from any project or team to get an accurate picture of what’s happening in one place.
Milestones . Milestones represent important project checkpoints. By setting milestones throughout your project, you can let your team members and project stakeholders know how you’re pacing towards your goal. Use milestones as a chance to celebrate the little wins on the path towards the big project goal.
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Instead of taking the time to create a business plan from scratch, start the process off with Asana’s free template.To further customize your template, add evergreen information about your specific business, such as your business model, company name, address, mission statement, value proposition, or target audience. Adding these details to your template lets you avoid documenting this information from scratch every time you create a new business plan.
What components should I include in a business plan template?
Business plan templates typically contain five main sections: a company description, products and services, a marketing plan, basic management and organization information, and your current financial plan.
How long should my business plan be?
Short answer—as long as you need it to be. The long answer is that your business plan should have the answers to specific questions on how your business is run, from the perspective of an investor. The goal of a business plan is to highlight your business strategy for the next three to five years. This means any important operational, financial, and strategic information should be included.
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Home > Business > Business Startup
The Complete Guide To Starting An Online Business
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Starting a business is sometimes scary and almost always challenging. It might seem overwhelming at first, but that is completely normal. And we owe you a massive congratulations. You have an idea good enough to share with the world, and that’s a big deal! You’ve officially gone further than most hopeful entrepreneurs. You’ve made the decision to get online and figure out how to turn this idea into a money-making business. So, let’s talk logistics.
When I first started my own business, I panicked over taxes, finances, and marketing. I felt so behind that first year because I didn’t have anything figured out before launching my site. Then, when I did launch, I had to check all these boxes while I was knee-deep in the stress of maintaining my business. I had no idea which holes I hadn’t filled until they imploded and quadrupled my stress, since I had to put out fires that were completely preventable.
To help you avoid the same mistakes I did when I launched my business, we've put together this guide to starting your small business online. Read through our eleven steps below to officially start your business off on the right track.
How to Launch a Small Online Business
- Vet your idea
- Identify your audience
- Choose your business name
- Write your business plan
- Sort out your branding
- Build your website prototype
- Test and validate your product
- Nail down your processes for delivering your product
- Make it legal
- Deal with your finances
- Launch your business
1. Vet your idea
First things first: you gotta vet your idea.
Before jumping in head first, you need to be 100% confident (or at least 90%) confident that your idea is worth it—worth the time, sacrifice, stress, anxiety, frustration, and ego hits.
It’s worth remembering that no matter what type of business you own (or how good your idea is), you’ll definitely experience ups and downs within the first 10 years. Some of these ups will be sky-high, and some of these downs will be depressingly low.
But if you believe in your idea enough, you will persevere—you can absolutely come out the other side with an awesome business, which is an amazing way to spend your time and earn a living. On the other hand, if you’re shaky about your plans, this will be a tricky first decade for you. To make sure you’re on the right track, let’s talk about how to vet an idea:
While vetting your business idea, ask yourself these five questions:
- How big is your potential audience? Are enough people interested in this type of product or service that you have a stable audience for sales?
- Is your product or service something customers buy once and move on? Or is there a chance for building a repeat customer base?
- Is your business idea going to be a passing trend like low-rise jeans, or does it have a long-term possibility like pencils?
- What is your competition? For instance, if you are setting up a fry bread cafe, are there other fry bread cafes in the area? If there are, what unique element will set your business apart from the competition?
- Will your business have any legal issues or limitations? For instance, are you creating something with strict regulations that make it trickier to market? Are you passionate enough about your idea that you’re willing to deal with the ups and downs and chaos of starting a business?
Once you’ve vetted your idea by asking yourself the questions above, getting advice from people you trust, and even speaking with an accountant or business banker about your business’s viability, it’s time to move on to the fun stuff—like choosing a name for your budding business.
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2. Identify your audience (or your target market)
Arguably, the most ignored aspect of building a business is identifying a specific audience. A lot of fresh entrepreneurs hesitate to hone in on one demographic because they believe their product or service can and should help everyone. Depending on the product, that might be true—but it still creates a watered-down, generic brand that doesn’t catch anyone’s attention of anyone.
Our advice? Don’t fall for the trap of thinking everyone is your audience. There’s no way you can market to everyone and still have a unique brand.
In contrast, if you are clear on who you are selling to, then you will attract people who actually want your product—which means your business is likelier to last.
To take this a little further, remember that the best brands are aspirational. In other words, while you should start with the people who want your product, you should eventually expand into finding people who want to want your product. This means you will inherently cast a wider net than just your target market—but you will not catch much of anyone without a target market. Start there.
If you can really hone in on exactly who your dream customer is, you then know how to market your product to them. A good exercise to do here is to write your dream customer’s profile or buyer persona:
- What is your ideal customer’s name? Age? Occupation? Hobbies?
- What food do they like? What food do they dislike?
- Do they have a family?
- How much money do they make, and how much disposable income do they have? What are their hopes and goals?
Now, ask yourself: Does a person like this actually exist? If so, now you know which social media platforms to target, where to buy ad space, and what tone your advertising should take.
Having a hard time answering the questions above? Start by identifying who is not your audience. List the qualities of the person who is not your target audience, and narrow things down from there.
Again, you can have more than one target audience, but you should try to be as specific as possible for each one.
3. Choose your business name
Choosing a business name is where the fun starts. For one thing, your business’s name is the first point of contact between your business and your consumers. It also gives customers the first glimmer of your personality and is the place where your branding will shine.
Remember, your name is also how the legal world will note your business. It also helps Google determine how to position your website when someone searches for your product or similar product on the internet. If your name is confusing, long or even too similar to other business names, you might be positioned at the bottom of the search results page.
In other words, your business’s name is important.
When it comes to business names, entrepreneurs tend to overthink, overthink, and, overthink some more. Sometimes, it feels like the trickiest part of starting a business, so here are some tips for figuring out the perfect name.
Keep it simple and short
Shoot for one to two words. You don’t want the name to be a chore for your customers to remember. Make it as easy as possible for your customers to think only of your service or product when they hear your name. You also want the name to fit neatly on a price tag or as a hashtag (always keep that social media marketing in mind)
For a good example of a short, simple brand name, consider Macintosh computers and Apple products. When someone says the word “apple,” most people now think of the computers before they think of the fruit. It’s a simple name, but with excellent marketing, the company completely co-opted the fruit.
Dare to get personal
Don’t be afraid to think of something quirky, weird, and maybe even a little kooky. For instance, many small online clothing businesses include the name of the owner’s grandmother in the title, or maybe of the owner’s children who inspired the clothing.
Or if something from your hometown (or even a particular food) means something to you, consider including that as part of the name. This type of personality flair makes marketing the founder’s story even clearer (read: makes you more marketable). It’ll also provide an easy framework for storytelling within your marketing plans.
These personal details will also help customers feel a sentimental connection to the brand. Sentimentality is an effective tool for building loyalty.
Be original
Make sure there are not other companies filed under the same name or an adjacent name. You don’t want to confuse your potential customers or investors, and you also don’t want to confuse Google, which might pull up your company’s name and location while filling in product information from a completely unrelated company that happens to share your business’s name.
Search domain names, URLs, and social media handles for your would-be business name. Don’t forget to simply Google the name either. If you are dead set on your chosen name, consider tweaking it a little just to set it apart.
4. Write your business plan
Your business plan is a structured document that gets all your brilliant ideas down on paper. You’ll show it to investors (like angel investors or traditional lenders like banks) to demonstrate that your ideas are worth investing in. While you can modify your business plan from year to year, try to think about it as your business’s foundational document—this is how you design the path to making your dream work.
You can create your business plan as early or late as you want before launching your business, but I highly recommend doing this early because it will reveal any flaws in your idea. The plan itself might feel redundant, but don’t speed through this. Consider it a proposition for the world to take your idea seriously.
Executive Summary
This is your elevator pitch. Simply sum up what your business is, how it will function, and what success you anticipate. It should be brief and to the point.
Company Description
This section should be a detailed description of what problems your company solves. It should also focus on who your company is serving and how you are serving that population.
Market Analysis
Who is your competition? Your investors will want to know you’ve done the research to find out that yours is a good idea, or that there is even a demand for this service or product. Along with showing that there is competition, this section of your business plan should point out what the competitors are doing better than you—and what you plan to do better than your competition.
Management and Organization
What kind of business is this? Is it an LLC, INC or DBA? How big is your business, and what is its structure? Most any business structure is fine—but remember: remember...stay away from pyramid schemes. (We say this mostly because they’re pretty similar to illegal pyramid schemes, but also because they can take advantage of women and marginalized populations.)
Products and Services
What exactly are you selling? List out each product, including each variation of your main product or service, as well as your pricing. Keep this portion of your business plan as clean and organized as possible (a spreadsheet will likely be a useful tool here). You will probably add to this list as you launch your business and continue to grow.
Marketing & Sales
How do you plan to let people know what you are selling? Many business owners use social media, local newspapers, radio ads, billboards, or even a combination of everything. The point is that you need to have a plan.
Another angle to consider is what medium your audience primarily uses. For instance, if you’re focusing on a product that primarily serves older communities, you’ll want to focus on Facebook advertisements. If you’re focused on a younger population, TikTok ads will probably serve you better. Consider how you can use your audience’s preferred same media to get your message across. And what sort of posts or commercials will you create that both fit your brand and speak to your dream consumer?
Funding Requests
Outline your funding requirements. This is where you get specific on how much you need and how each dollar will be spent. It’s also where you explain the lending and investment terms you would like and whether you are looking for debt or equity. The more specific you are, the better. Answer basic questions like how long you’ll need funding and how exactly you’ll use it. Most importantly, be overly detailed and incredibly tedious with this information—investors prefer more information when making a decision about whether or not your business is worth their time and money.
Financial Projections
Because you haven’t launched your business yet, this is where you will keep track of your monthly and/or quarterly projections. Throw in graphs, charts, and anything else that will tell your financial story as easily and quickly as possible. This section can be updated and added upon after you launch, but you should definitely keep track of your financial projects throughout the life of your business. Set routine goals to keep yourself motivated and on track.
Keep your business plan close by and allow it to remain a living document as you grow and learn new things. Even if you never end up presenting it to anyone, it will keep you focused and aware of when things are not lining up for you.
5. Define your brand identity
Last year, I taught a business class to high schoolers., These were Gen Z brilliant students who knew the internet forward and backward. They used the word “branding” casually, but they didn’t quite understand the ins and outs of branding a company. So we did what I like to call “the Starbucks exercise.”
I asked them to get out a piece of paper and write their answers to my questions: If Starbucks were a person, what gender are they? Do they smoke? What age are they? Do they have a family? A partner? Kids? A dog or a cat? What kind of outfit is Starbucks wearing?
The majority of students had the same answers. To them, Starbucks was a white middle class lady who used to smoke cigarettes. She is a straight cis female with a couple of kids and a cat. She is stressed and she wears yoga pants a lot.
These students were all from different homes and all had different relationships with the coffee brand— but they all had the same general understanding of what this brand was. And that’s the power of strong, consistent branding.
If you can create a set understanding of what your company is if it were a person, you are golden. Creating a brand like this means you know exactly who you are marketing to. And having such a specific focus also means that you can attract the right customers. You will know which aspects of your company to negotiate in order to attract your target audience and expand from there.
What gender are they? Do they smoke? What age are they? Do they have a family? A partner? Kids? A dog or a cat? What kind of clothes do they wear? What is their income bracket? What type of music do they listen to?
Another helpful exercise is to try to describe your company with one word. Examples include: sleek, economical, efficient, retro, conscious, powerful, and rejuvenating. Practice this with your own business, and then make branding decisions based on that word.
Now that you have an understanding of what your brand is, consider your unique selling point, words, colors, and logo.
Figure out your unique selling point
What makes your brand different from other brands? Why should people choose your service or product over others? Is there an emotional reason (for instance, you’re a local, naturally sourced brand), a practical reason (maybe you’re more affordable or offer higher quality products), or a combination of both? Frankly, if there is an emotional pull, run with that—people love an emotional connection to the product they’re buying.
To put it simply, think about your origin story and what YOU bring to the table. Then go from there.
Colors are important! They should work together to make a good story. They should not be in a contest with each other. If you look at your branding and feel confused or disturbed, it means that the colors are not doing you favors.
Not sure what we mean by that? Well, there is an area of study called color psychology. This is how our brain responds to certain colors.
For example, yellow is a trigger for discomfort and red is a trigger for hunger, which is why most fast food places use red and yellow in their branding. These colors are intended to inspire patrons to come and eat a lot (red) and then leave quickly because the yellow is so glaring. Blue is calming which is why most therapy offices paint their walls blue.
Consider what emotions you want your clients to feel and Google which colors best make that happen.
Red - enhances human metabolism, increases respiration rate and raises blood pressure; associated with energy, strength, danger, war, determination, passion, desire, and love -- it attracts more attention than any other color
Green - slows human metabolism and has a calming effect, associated with tranquility and calmness, symbolizes growth, freshness, rebirth, fertility and is associated with nature (all things organic).
Blue - Peaceful, honest, compassionate, authentic and sympathetic
Brown - reserved, dependable and resilient
Yellow - joyful, happy, intellectual, a lot of energy, stimulates mental activity and muscle energy, can bring feelings of anxiousness when overused, and is definitely an attention grabber. Commonly used to mean loyalty and in other settings cowardice.
Pink - calming and vulnerable. Signifies gentleness and youthful innocence, very sweet and tender feelings
Purple - power, nobility, luxury and ambition, wealth and extravagance. Reminds mystery, creativity, independence and magic
White - signifies safety and cleanliness. Reminds of purity, light, faith, innocence and goodness
Black - power, death, formality, fear of the unknown, often feels negative and reminds of grief
Color theory also tells you which color combinations are most pleasing to our eyes. A fun resource is the Adobe color wheel . This site allows you to jump in and look at different combinations of colors that work within these theories of which colors are most compatible.
This is where you get to tell your story. Use words that fit the tones of the colors you choose (or vice versa). Words like sleek, organic, fresh, and honest all feel good with greens, light pinks, and whites. Words like powerful, strong, and forthright match the tones of reds and blacks. Consider which words best describe the mood you are trying to convey.
Unless you have a design background and are good with graphic design, consider hiring someone else to design your logo. Before hiring someone, your job is simply to figure out a basic idea of what you want. This will require you to look at different branding, websites, and fonts to think about what really resonates with you.
When I was trying to sort out my own branding, I came across an Instagram profile that posted old Russian products with pre-1990 branding. My family comes from Eastern Europe and many of my family members speak Slavic languages, so seeing these unique logos and fonts felt familiar to me. I decided to hire a designer who created a font that could have come straight from old cheese cans from Moscow 1955, something with a Slavic touch and retro vibe. You never know where you will find inspiration.
- Old branding. Look at old magazines or old boxes and just study those fonts and how the logos were made.
- Notice t-shirts.
- Whenever you find yourself in a waiting room or watching tv, jump on Pinterest and create different boards of ideas or tones.
- Start following different designers on social media. A popular one is Aaron Draplin, and from him you should be able to find an entire community that posts different design and logo ideas. This should inspire you as you figure out what you want.
- Album covers. Go to a record store and sort through different old school album covers. You will see some of the best branding there has ever been.
- Instagram, Instagram, Instagram. We love to hate it, but if you tap into the design community, you will be blown away by the options.
- The grocery store. Andy Warhol found art in advertising and sold his Campbell’s Tomato Soup renderings for millions of dollars. He described the soup can as brilliant art and branding. Go to the grocery store, pretend to be Andy Warhol, and look for art in the mundane.
6. Build your website
Whether you’re offering a newsletter or a physical product, you need to start creating a site so you can fund your business and find customers.
To start creating your ideal website, start by asking a few key questions. What is the purpose of your site? Are you selling or just giving information? Does your site include a call to action like signing up for a newsletter or service? Or do you need an e-commerce site to collect credit card information and shipping?
A ton of different website building platforms are built for small online business owners like you. With services like Wix , Squarespace , and Weebly , you can create a site and keep it dormant before launching for testing.
Not sure how to build a website from the ground up? Find other websites that are doing similar things to you and follow their lead. It is okay to gain inspiration from multiple sources. (Just don’t copy and paste an entire site. Plagiarism will not go well for you.)
Start simple. You don’t have to have a perfect product right away. Create a basic website, then have a friend go through it and tell you what they would love to see or use.
As you start creating your site, Just make sure you have these basics:
- A site map
- High-quality images
- A call to action on each page (“sign up for our email,” “click to purchase,” etc.)
- A contact page
You’ll also want to use proper SEO ( search engine optimization ) for any blogs and sites you create. If you’re not sure what that means, no worries—most website builders include some sort of SEO recommendations that will help optimize your content.
800+ | About 300 | |||||
9000+ | 5000+ | |||||
500+ | About 300 | |||||
100+ | About 30 | |||||
100+ | N/A |
SEO is an acronym for “search engine optimization.” It is the method in attracting a higher quality and quantity of traffic to a site.
The goal of SEO is to make it easier for Google to recognize what your site pages are about and then help users find the best solutions to their needs.
- Figure out where your site stands in terms of Google rankings. Use the Google toolbar or other monitoring tools (there are a lot).
- Use keywords or phrases organically throughout your pages. Use keywords that people might be including in their searches. Feel free to Google your topic and see what other people are posting or searching.
- Include these search terms in your URLs.
- Attach descriptors to your images.
- Use internal links to guide users to another page on your site.
- Link to other sites or the site you are sourcing information from.
- Make sure that your website is updated regularly and actually has high-quality information.
7. Test and validate your product
Test your product.
Before launching and advertising, you must test your product and see if it is actually meeting the needs it is setting out to meet. You can do this in the form of focus groups, which means sending the product to a few choice people who you know will be honest about their impressions. Then you can start sending and giving to others. Find a bigger audience by inviting people from your focus group to pass your product along to their friends and ask for their feedback as well.
Validate your product
Before really going crazy with scaling and production, you must validate the product . This means setting up pre-orders and selling in person (read: starting off small before you buy 6.000 scrunchy leopard print bracelets that will just sit in your garage). Produce a few items and try to sell them. If you can’t move those few, there is no way you will move 6,000.
Validating your product tests whether your idea actually does have legs and whether you are the right person to move it forward. This can also be done by setting up pre-orders, launching a crowdfunding campaign, or selling person to person. Each of these tactics can act as a thermostat of where you are in meeting a need or want of your dream customer.
If your product is not a tangible thing and is content– or service-based, start promoting it through advertising. Consider offering a free service to get feedback before you start to sell. See what happens. Once again, if no one bites, it’s time to find another idea for your small business.
8. Nail down your processes for delivering your product
By now, you should have a good sense of your business’s organization, branding, and purpose. Now, it’s time to dig deeper into the nitty gritty part of building a company.
Let’s start by asking a few questions.
If you are using an online store to sell a product, ask yourself:
- Where are you going to store your inventory?
- Would you rather mail each product yourself, or should you outsource via dropshipping ?
- Who is making your product?
- Are ethics and sustainability a part of your brand?
- Do you need design help and how long term do you need the help to be?
If you are selling a service, ask yourself:
- Exactly what service are you offering?
- What are your price points?
- What size of jobs are you accepting?
- What are you willing to negotiate with clients?
Whether you’re selling a product or service, we recommend getting support that can help you save time and money as you hammer out the logistics of running your business. Here are some of the most crucial tools to consider:
- Accounting software. We live in a wonderful time when there are trillions of options for different accounting apps. Different programs are tailored to different needs and include different price points as you grow. Check out our list of the best accounting software for small businesses .
- Email marketing. Email marketing benefits your SEO and builds trust with your customers—potential, past, and current. This is the one chance you have to speak directly with the people you are hoping to impact with your service. This is where you can ask them questions and remind them that you exist.
- Project management. If you are anything like me, you tend to procrastinate and get frazzled when things get off track. Just like accounting apps and software, finding the right project management tool can make a huge difference. We all work differently, so find the tool that makes the most sense for your brain and also your company’s needs.
9. Make it legal
Research licensing and government regulations.
Different states have different laws on what’s legal to sell, where, and how. These regulations can be quite complex, and there may be legal problems if you make a wrong move.
Go ahead and Google your state laws. If you find any regulations that might affect your business, definitely reach out to your county officials and they can guide you. If you feel like your business is in a gray area, consider investing in a lawyer as you set up your business.
Pick a business structure
A business structure is integral both for filing your taxes and your own liability.
Business Structure | |||
---|---|---|---|
Best for | Startups | This is for people who are going by a different business name but are not creating a new company. Usually DBA filers are sole proprietors. | This is for a bigger company that plans to go public or global and issue shares. |
How it's unique | This gives you the most flexibility in how you manage your business. A board of directors is not required and you can have unlimited members. | It’s easy and it is not a legal entity. | You have as many owners/shareholders as you would like. These owners can get preferred stock. |
Liabilities | You are not held personally on the hook for business liabilities. | You are personally liable for any business liabilities. | You are not personally liable for business debts. |
Drawbacks | There is a lot of paperwork and fees the state requires of you throughout your existence. You can never go public or be recognized globally, so you may be taxed internationally in different ways. | If the ship goes down, you do too. There is no personal protection from liability. | Lots of filings and fees. Stricter management rules about meetings and record keeping. |
10. Get your finances in order
Dealing with finances is usually where first-time entrepreneurs start panicking. They have an awesome idea, but they didn’t major in accounting and have no idea what to do about money .
The first move is to figure out what accounting software you want to use(hopefully you figured that out in step seven).
Next, we need to draw the line between your personal self and your business self. Your business profile needs to stay distinct from your personal finances.
How do you separate the two? Just like how you have a social security number, your business needs its own identification number (this is called an employer identification number , or EIN) and bank account. Not only does this make sure you are not going to get into a jam with the IRS, but setting up a business EIN and bank account helps prove that your business is, well, yours. You will get your business identification number when you register your business with your state.
Next, you need to get a business bank account and credit card . Open an account that will work best for you, whether that is through using a high yield savings account or an account with limited fees. Make sure that you are checking your credit card statement and your bank account weekly so you can stay on top of cash flow.
Go to your bank and speak with someone about opening the right account for your needs. Your business banker will be your best friend—they can offer much better advice on different accounts and their benefits than anyone else.
Be mindful that most of your money will go quickly in the beginning. You will be spending it on building your inventory and trial and error with marketing. If those startup costs are too big for your pocketbook, consider finding angel investors or crowdfunding .
Starting at $0/month, Lili offers a checking account with time-saving tax optimization and accounting features specifically built for entrepreneurs.
![business plan for online](https://www.business.org/app/uploads/2022/07/lili-300x122.png)
11. Launch your business
You’ve done it! You’ve gone through all the major steps to get your business off the ground, and now you’re ready to launch. Publish your website and start getting the word out by leaning into social media and other advertising methods-. Using your brand identity and chosen colors and logo, be liberal in sharing your new project with the world to find customers.
Most importantly, be confident . There will undoubtedly be ups and downs, but remember—you are providing something that people want. You’ve been through vetting and product testing and you know yours is a good idea. Hold onto that while you are weathering these early storms because yes, the initial phases are hard, but you’ve got this!
Phew, you made it to the end—nicely done! Thanks for sticking with us, and best of luck to you with your small business. We know you're going to do great.
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- Best Business Plan Software
10 Best Business Plan Software In 2024
![business plan for online Amy Nichol Smith](https://thumbor.forbes.com/thumbor/fit-in/x/https://www.forbes.com/advisor/wp-content/uploads/2023/10/Amy-Smith-e1698397367654-88x88.jpg)
Updated: May 3, 2024, 5:15pm
Writing a business plan not only helps you stay on track as you start a new business but it can also help you secure funding. You can create one from scratch with a simple template, but business plan software often has features to make it easier, more nuanced and overall better. It could even make the difference between bringing investors on board and going it alone. So, Forbes Advisor found the best business plan software that has the features you need at an affordable price.
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The Best Business Plan Software of 2024
Forbes advisor ratings, methodology, how to choose a business plan software, benefits of business plan software, frequently asked questions (faqs), next up in business.
Featured Partners
From $8 monthly per user
Zoom, LinkedIn, Adobe, Salesforce and more
![business plan for online monday.com](https://thumbor.forbes.com/thumbor/fit-in/200x/https://thumbor.forbes.com/thumbor/fit-in/150x/https://www.forbes.com/advisor/wp-content/uploads/2022/07/monday-logo.png)
On monday.com's Website
Yes, for unlimited members
$7 per month
Slack, Microsoft Outlook, HubSpot, Salesforce, Timely, Google Drive and more
![business plan for online ClickUp](https://thumbor.forbes.com/thumbor/fit-in/200x/https://thumbor.forbes.com/thumbor/fit-in/150x/https://www.forbes.com/advisor/wp-content/uploads/2022/07/clickup-logo-transparent.png)
On ClickUp's Website
$9.80 per user per month
Salesforce, Adobe, Miro, Netsuite, Quickbooks, SAP
![business plan for online Wrike](https://thumbor.forbes.com/thumbor/fit-in/200x/https://thumbor.forbes.com/thumbor/fit-in/150x/https://www.forbes.com/advisor/wp-content/uploads/2022/09/Wrike_logo-removebg-preview.png)
On Wrike's Website
Yes, for one user and two editors
$9 per user per month
Google Drive, Slack, Tableau, Miro, Zapier and more
![business plan for online Smartsheet](https://thumbor.forbes.com/thumbor/fit-in/200x/https://thumbor.forbes.com/thumbor/fit-in/150x/https://www.forbes.com/advisor/wp-content/uploads/2021/12/Smartsheet.png)
On Smartsheet's Website
- Wrike: Best overall
- Smartsheet: Best for goal management
- LivePlan: Best for financial forecasting
- Aha!: Best for roadmapping
- Bizplan: Best for beginners
- IdeaBuddy: Best for ideation
- iPlanner: Best for no-frills business planning
- Enloop: Best for automatic business plan creation
- AchieveIt: Best for consultant groups
- Business Sorter: Best for teams
Best Overall
![business plan for online Wrike](https://thumbor.forbes.com/thumbor/fit-in/150x/https://www.forbes.com/advisor/wp-content/uploads/2022/07/wrike-logo.png)
Starting price
Free; $9.80 per user
Team messaging
Roadmapping
Wrike is a project management (PM) tool that works well as business plan software because it gives you tools to help you gather and compare your data. Wrike makes it easy to start your business plan with its collaboration tools, business plan templates , drag-and-drop interface and goal management features. Another benefit of using Wrike to build your plan is that you see your ideas and goals from multiple views: Gantt chart, calendar or board views.
There are a few reasons why it’s a good idea to use Wrike for your business plan. First, you can map out exactly what your business goals are in a project, invite teammates to collaborate and message business partners to discuss everything. Plus, you can export your data when you’re ready to put all the details into a presentation to hand over to potential investors.
Wrike offers a free plan that’s good for putting your vision down in task and project form, but you may want to upgrade to a paid plan to invite collaborators, get custom workflows and add more views and automations. Paid plan pricing ranges from $9.80 per user, per month, to $24.80 per user, per month, both billed annually.
Learn more: Read our full Wrike review .
Who should use it:
Wrike makes it easy for any new business owner to create a business plan and collaborate with others on the financial and operational goals. Plus, it provides value after you finalize your business plan because it’s a good pick for a PM tool.
- Roadmapping ability
- Multiple views (Gantt, calendar and board)
- Business plan templates included
- Goal management via projects and tasks
- Free plan available
- Affordable plans
- No pitching tools
- No financial tools
Best for Goal Management
![business plan for online Smartsheet](https://thumbor.forbes.com/thumbor/fit-in/150x/https://www.forbes.com/advisor/wp-content/uploads/2021/12/Smartsheet.png)
$7 per user, per month
(billed annually)
(added cost)
Using PM software like Smartsheet is a good idea for starting a business plan because it includes all the tools you need to collaborate and plan across multiple teams or stakeholders. It’s especially good for real-time goal management. Get your ideas in place, go over market and competitive research from other teammates and finalize everything together.
Smartsheet won’t help you write your business plan, but it does give you a place to compile all the data and then you can use one of its free business plan templates. As you figure out your milestones, you can invite an unlimited number of viewers to see how it’s going. The only downsides are that Smartsheet doesn’t have a native messaging app (you’ll have to use an integration), only commenting allowed and there’s no free plan.
Paid plans from Smartsheet cost $7 per user, per month, or $25 per user, per month (billed annually for both). The low-priced Pro plan limits you to 10 editors, but the Business plan allows unlimited editors (but it also has a three-user minimum).
Learn more: Read our full Smartsheet review .
Smartsheet lets you make changes in real time, so it’s a good option for those who are just starting to piece together a plan and looking for a way to manage ideas and goals before finalizing a business plan.
- Discounts for nonprofits available
- Automations on every plan
- Popular integrations allowed on low-tier plan
- 30-day free trial
- No free plan
- Only 10 viewers allowed on low-tier plan
- Three-user minimum on Business plan
Best for Financial Forecasting
![business plan for online LivePlan](https://thumbor.forbes.com/thumbor/fit-in/150x/https://www.forbes.com/advisor/wp-content/uploads/2022/12/LivePlan_logo.png)
$15 per month
One of the strongest cases for using LivePlan to create your business plan is its financial forecasting. It isn’t just a single feature, rather it’s a tool that lets you turn your balance sheet and cash flow statements into charts, graphs and what-if situations to help you show possible investors the best- and worst-case scenarios for your business.
There are two plans available: Standard or Premium (there is no free plan). The low-priced plan, which costs $15 per month (billed annually), doesn’t limit your contributors or guests and includes instructions to help you complete a business plan. It even includes the financial forecasting features and more than 500 sample plans to get you started.
The Premium plan costs $30 per month (billed annually), but it’s full-featured. You get a milestone planner and industry benchmark data, which can save you research time. Another timesaver: At this plan level, you can integrate QuickBooks or Xero to add your financial data seamlessly.
LivePlan is business plan software that includes prompts and accounting software integrations, making it great for new business owners that want easy financial forecasting.
- Unlimited guests and contributors
- Export finished business plan as PowerPoint presentation
- Includes step-by-step instructions with prompts
- 35-day money-back guarantee
- No free trial
Best for Roadmapping
![business plan for online Aha!](https://thumbor.forbes.com/thumbor/fit-in/150x/https://www.forbes.com/advisor/wp-content/uploads/2022/12/Aha-logo.png)
$59 per user, per month
Every business plan starts with strategy and Aha! makes it easier to map out what you plan to do to get from point A to point Z. Aha! is primarily roadmapping software that product teams use to plan features, products or bug fixes. Any business in any industry can use it to shape ideas and strategy into plans and milestones.
Much like product development, business plans have phases and Aha! is ideal for the first few phases of business planning. Although you won’t find a scorecard feature with Aha! Roadmaps, you can score and prioritize your business vision and goals. Finally, you can present your plan to viewers (stakeholders) before you create your official business plan and secure funding.
There are three plans from which you can choose: Premium at $59 per user, per month; Enterprise at $99 per user, per month; and Enterprise+ at $149 per user, per month, all billed annually. The only reasons to upgrade to either Enterprise plan is if you want to add on automation, development tools and custom worksheets and tables.
Aha! Roadmaps is a great tool to help you strategize and get your ideas for your business in one place. You can use the presentation feature to share your business’s roadmap on your way to creating your finalized business plan.
- User-friendly interface
- Ability to score and prioritize ideas
- Share roadmaps with others
- Expensive for business plan creation
- Has a bit of a learning curve
Best for Beginners
![business plan for online Bizplan](https://thumbor.forbes.com/thumbor/fit-in/150x/https://www.forbes.com/advisor/wp-content/uploads/2022/12/Bizplan_logo.png)
$20.75 per month
Bizplan is specifically for business plan creation. It offers a guided walkthrough of each section you need for a complete business plan to use for funding or pitching to partners. Plug in the information, from your mission and goals to financial forecasts, and Bizplan will do the math and create the visual charts you need to get your point across.
Bizplan is very easy to use because it includes prompts and questions that take away the manual effort of figuring out what you need, so you can simply focus on providing the answers. When you’re satisfied you included all the data needed, you can invite stakeholders and consultants to look it over and add comments for approval or change requests. A unique feature of Bizplan is it gives you access to Fundable, a crowdfunding platform, on which you can share your business plan to try to generate funding.
Monthly pricing costs $29, but you can opt for annual pricing that averages to $20.75 per month. If you expect to need business plan software for much longer than a year, there’s a lifetime access option for $349 flat. All plans come with all features and access, including business courses, business planning tools and a route to investors.
If it’s your first time creating a business plan, Bizplan is a great choice to help guide you through all the sections you need to include in your plan for potential investors and partners.
- Monthly, annual and lifetime plans
- Unlimited business plans
- Unlimited collaborators
- Step-by-step instructions
- Modular, drag-and-drop interface
- Online business courses
- Access to Fundable
- Financial forecasting
- No roadmapping tools
- Lack of customization
- Only integrates with Xero
Best for Ideation
![business plan for online IdeaBuddy](https://thumbor.forbes.com/thumbor/fit-in/150x/https://www.forbes.com/advisor/wp-content/uploads/2022/12/IdeaBuddy_logo.png)
Free; $6 per month
IdeaBuddy is a basic business plan tool that lets you start for free, which is great for beginners who aren’t quite ready to create a plan. The idea plan feature is great because it lets you lay out your business plan on one page, giving you an overview. There are built-in sticky notes for brainstorming and custom templates to start you off with a bit of a guide (or just create your own).
Another great feature of IdeaBuddy is the whiteboard, which lets you drag and drop various elements, draw on it and collaborate with others to come up with your perfect business idea. That feature is locked behind the highest tier, so you’ll have to pay $22 per month (billed annually) to use it. However, that plan also gives you up to 10 collaborators and 10 ideas.
Other plans are more limiting: The free plan is for a solopreneur who has a single idea to work on and the Dreamer plan is $6 per month while the Founder plan is $12 per month, both billed annually. The Dreamer plan is also limited to one idea, but you get one collaborator while the Founder plan gives you up to three ideas and three collaborators. Plus, you’ll get access to the paid plans to export and share your plan with viewers.
IdeaBuddy is just what it sounds like: It’s best for ideation. You can create a full-fledged business plan, but this program is best suited for the very beginning stages of business creation.
- Free forever plan
- Affordable paid plans
- Monthly and annual billing options
- Easy to use
- Export to Word, Excel or as PDF
- Flexible whiteboard feature
- May be too basic for some users
- Doesn’t offer much guidance
Best for No-Frills Business Planning
![business plan for online iPlanner](https://thumbor.forbes.com/thumbor/fit-in/150x/https://www.forbes.com/advisor/wp-content/uploads/2022/12/iPlanner_logo.png)
$55 for one year
Business plan software doesn’t have to be fancy to be effective, and iPlanner certainly fits that bill. It’s been around since 2007 and it doesn’t appear to have updated its look or functions. The browser-based business planning software gives you a place to build out your business model and a business plan.
There are two different software options from iPlanner: Strategy Designer and Startup Framework. The Strategy Designer costs $59 for three plans, but it’s a one-time fee for the year. Choose it if you want a more condensed and no-frills kind of business plan. You can export it to Word or as a PDF.
The iPlanner Startup Framework is $55 per year, which gives you one plan to create. It’s similar to the Designer version, but you can create a business model, separate financials and build a team with various roles (view only, project owner or consultant).
iPlanner is best for those who have created a business plan before and don’t need hand-holding or fancy features.
- Business modeling option
- Samples on site for demoing
- Export to Word or as PDF
- No free plan or trial
- Not a lot of guidance
- Outdated interface
Best for Automatic Business Plan Creation
![business plan for online Enloop](https://thumbor.forbes.com/thumbor/fit-in/150x/https://www.forbes.com/advisor/wp-content/uploads/2022/12/Enloop_logo.png)
$11 per month
Enloop is a unique business plan app that generates a business plan for you based on information you provide. You can edit the text Enloop writes for you to make it more specific or change numbers in your financial forecasts as you see fit. Enloop offers a scorecard that updates as you change things, finish sections and make your business plan overall better.
Then Enloop compares your financial forecasts to industry standards, so you don’t have to do the research. The software shows you up to 16 ratios, such as sales, inventory and payables and then shows you what the average is for your industry as it compares to your financials. Enloop then gives you either a pass or fail so that you can modify your plan before you put anything into play.
Although Enloop doesn’t offer a free plan, there is a free trial for one week so you can see if it’s right for you. The Detailed plan costs $11 per month while the Performance plan is $24 per month, both billed annually. The biggest difference between the two plans is how many financial ratios Enloop analyzes: The Detailed plan only gets three ratios and Performance plan gets 16.
Enloop is best for those who have some experience creating business plans, not necessarily for those who are starting from scratch as there are no brainstorming or strategizing tools included. Use Enloop to create business plans quickly.
- Three business plans for each tier
- Generates a business plan automatically
- Compares your financials to industry standards
- Seven-day free trial available
- Scorecards indicate odds of success
- No messaging team members through app
- Not meant for strategizing
Best for Consultant Groups
![business plan for online AchieveIt](https://thumbor.forbes.com/thumbor/fit-in/150x/https://www.forbes.com/advisor/wp-content/uploads/2022/12/AchieveIt_logo.png)
$80 per, user per month
Not everyone wants to go it alone when creating business plans and consultants are often hired for industry expertise and business plan creation. AchieveIt offers generous plans that won’t limit the number of plans and projects you can create, so you can work on multiple business plans at one time.
Specifically, AchieveIt is planning software meant for medium to large teams to work on projects simultaneously. For business planning, it’s a great option for those strategizing and analyzing a variety of data points with multiple people—all of AchieveIt’s plans have a minimum requirement of 20 users.
Plans are pricey, especially when you consider the user minimum. Core, the lowest-priced plan, costs $80 per user, per month, and Plus is $90 per user, per month, both billed annually. So, it’s going to cost $1,600 per month, at least, which puts this software out of reach for most small businesses.
AchieveIt is a good choice for large businesses that need planning software and for business plan purposes, it makes most sense for established consultant groups.
- Unlimited plans and projects
- Collaboration tools
- Goal management
- 20-user minimum
- Pricier than most competitors
- Integrations at added cost
Best for Teams
Business sorter.
![business plan for online Business Sorter](https://thumbor.forbes.com/thumbor/fit-in/150x/https://www.forbes.com/advisor/wp-content/uploads/2022/12/Business-Sorter_logo.png)
$10 per month
When you’re ready to craft your business plan, it can help immensely to have business planning software like Business Sorter. The cloud-based app makes it easy for you to start a plan and kicks off your business planning with a SWOT analysis (strengths, weaknesses, opportunities, threats). Then, you can follow a guide to build your plan with each section divided by areas. After which, you can choose cards to help steer you toward the right objectives and goals for your business.
You won’t find roadmapping tools in Business Sorter, but the card system keeps you on track (and even gives you goals you may not have considered). As you prioritize goals, you’ll find steps you need to take that guide you to completing your business plan. Every plan allows multiple users, so you can collaborate on what takes precedence.
Plans start at $10 per month, billed annually, and allows you to have three users on board. For 10 users, the Medium plan costs $30 per month, billed annually, and if you need 30 users, the Large Team plan will run you $80 per month, billed annually. It’s one of the most affordable business planning apps for teams.
Although Business Sorter doesn’t offer a messaging tool, it’s still one of the best options for teams. You don’t have to pay per person, but you can add multiple people to the account to work on creating business plans.
- Easy-to-use business plan templates
- Free trial available
- Card system helps guide your goal setting
- Create up to 40 business plans
- Plans limit user count
- No messaging in app
- Very limited integrations
COMMENTS
Write your business plan - SBA
1. Create a free Venngage account using your email, Google or Facebook profiles. 2. Select the perfect business plan template from our library of professionally designed templates. 3. Use our online Business Plan Creator to add your information, data and more to your business plan template.
Free Business Plan Template - Create a Business Plan
Tips on Writing a Business Plan. 1. Be clear and concise: Keep your language simple and straightforward. Avoid jargon and overly technical terms. A clear and concise business plan is easier for investors and stakeholders to understand and demonstrates your ability to communicate effectively. 2.
LivePlan has helped over 1 million business owners build better businesses. It's proven, companies that plan and track against their plan grow 30% faster than those that don't. No matter your industry, location, or size — LivePlan helps you get your business off the ground and grow. Read Customer Stories.
Create Your Business Plan with PlanBuildr
7 Business Plan Examples to Inspire Your Own ...
More Than A Business Plan Template Claim Your Business Plan. Plannit.ai is an AI-driven business planning platform that helps entrepreneurs, business owners, students and business consultants create professional business plans in minutes. Answer questions about your vision and generate a full professional business plan.
How to Write a Business Plan: Guide + Examples
The AI-Powered Business Plan Generator shines a light on this path, offering a straightforward way to outline your vision, strategies, and financial forecasts. By providing customized, coherent business plans, this tool assists in laying down the foundation of your entrepreneurial dream, ensuring every aspect is addressed.
Transform your business plan from concept to visual masterpiece. With Upmetrics, select from an array of beautifully designed templates—SWOT Analysis, Market Size, Customer Persona, and more—tailored for clarity and impact. Each template is a canvas for your data, ready to be customized and filled with ease. With each section you craft ...
Using Asana's free business plan template is simple. Start by creating a new project with our free template. From there, add relevant information for your specific business plan in the sections provided in our template. If there's more information you want to include in your business plan, you're free to add sections, custom fields, or ...
With LivePlan's online business plan builder you can dive right into starting your business plan with no preparation necessary. Working through LivePlan's business plan writing software, you'll be guided through where you need to supplement your knowledge of your market and industry. Of course, as you create your business plan you may need to ...
Business Glossary. Definitions for common terminology and acronyms that every small business owner should know. Bplans offers free business plan samples and templates, business planning resources, how-to articles, financial calculators, industry reports and entrepreneurship webinars.
Describe Your Services or Products. The business plan should have a section that explains the services or products that you're offering. This is the part where you can also describe how they fit ...
Krista Fabregas is a seasoned eCommerce and online content pro sharing more than 20 years of hands-on know-how with those looking to launch and grow tech-forward businesses.
Follow these step-by-step instructions to create a business plan using the free generator in no time. Creating a business plan requires filling in 4 critical fields—company overview, marketing details, competitor information, and financial overview. Let's start with the first. 1. Enter the Company Overview.
Make it legal. Deal with your finances. Launch your business. 1. Vet your idea. First things first: you gotta vet your idea. Before jumping in head first, you need to be 100% confident (or at least 90%) confident that your idea is worth it—worth the time, sacrifice, stress, anxiety, frustration, and ego hits.
The Best Business Plan Software of 2024. Wrike: Best overall. Smartsheet: Best for goal management. LivePlan: Best for financial forecasting. Aha!: Best for roadmapping. Bizplan: Best for ...
How to write a detailed business plan. Let's walk through writing a detailed business plan step-by-step and explore an example of what a finished business plan (for a local swim club Pools & Laps) built with LivePlan's business plan builder looks like. 1. Executive summary.
Business plan made it possible to respond to this challenge efficiently which gave us a 40% revenue increase the next year." 14. Test different scenarios. A business plan can be used as a tool for scenario analysis. As the regulatory, economic, and competitive landscape of a business evolves, you need to test and plan for different scenarios ...
4. Review Business Plan Examples. Sometimes the best thing you can do is to see what the end result can look like. So, when writing a business plan you should explore and review a handful of business plans examples. Ideally, business plan examples are created by professionals or are real-world samples from existing businesses like yoga studios.
Try LivePlan today. Totally risk free. 35-day money-back guarantee. Get Started Now. Use LivePlan to create your business plan. LivePlan is fully customizable and works for every business in every industry, including for products, services, and even non-profits.
Fund your business. It costs money to start a business. Funding your business is one of the first — and most important — financial choices most business owners make. How you choose to fund your business could affect how you structure and run your business. Choose a funding source.
Harris will push to increase the small business tax deduction from $5,000 to $50,000 for new companies if she's elected, a campaign adviser to the Democratic nominee said.
Create a Content Plan. Once you've identified the right communities for your business, the next step is to build a content plan that outlines what you can offer the community and how often you'll engage. Some of the best online communities are those where information flows naturally and are centered around knowledge sharing rather than being ...
A judge on Thursday approved Red Lobster's Chapter 11 bankruptcy plan, clearing the way for the seafood chain to be sold to a group led by Fortress Investment Group. The Orlando-based casual-dining company filed for bankruptcy in May with liabilities of between $1 billion and $10 billion, capping a tumultuous period of sales declines, losses ...
Among other challenges Transnet faces are an ageing fleet, high network vandalism and theft, underinvestment, issues it must deal with in addition to the current macroeconomic environment.