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Starting a Business? Learn How to Easily Create Your Business Plan

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Starting a Business? Learn How to Easily Create Your Business Plan

Published: September 6, 2013 Updated: September 11, 2013

Are you thinking about starting a business? One of the first things you will need is a business plan. 

Business plans are essential in helping entrepreneurs prepare, manage and direct their businesses, however, creating a plan can be intimidating and time consuming. It’s also hard to even know where to start.

As a part of SBA’s mission to help small businesses grow and succeed, the agency has created a Business Plan Tool  which helps simplify the process.  The tool consists of eight steps which include:

1.      Cover page [Company name, address, phone and logo]

2.      Executive Summary [An introduction to your business]

3.      Company Description [High-level review of your business]

4.      Market Research [Description of your target audience]

5.      Product/Service Line [Description of your product or service]

6.      Marketing and Sales [Your marketing and sales strategies]

7.      Financial Projections [How your business will meet financial obligations. The plan includes four spreadsheets which allow you to easily plug in your numbers.]

8.      Finish up [Once you have completed steps one-seven, you can print your plan in either a Word or PDF document.]

To get started, create an account or log into SBA.gov.  Once logged in, you can easily move through the step by step process of inputting your information into the sectioned templates.  You also can move at your own pace through each section, save your work, and email the plan.

After you completed your business plan, let us know what you think about the tool.  Your feedback is valuable to us.

 

 

 

About the Author:

AlexisB is a moderator for the SBA Community. We appreciate your participation and feedback on how we can continually improve the community to meet your small business needs.

Comments:

The SBA has provided truly valuable resources here. Entrepreneurs want to be careful of relying on templates for their business plan. A template is good as a general guide, but it is better to create a custom business plan
I find it hard to get back to the site to log in and view and or add to my business plan
I agree. Why after logging in is the business plan started so difficult to find?
Good initiative again taken by SBA. Though business plan is essential for any type of business to start with. One need to jot down the plan before entering into any type business with an open mind.
You need to have a basic understanding of finance and accounts, even if you are not financially literate, in order to succeed in any business. A business plan is the first step in this direction. If you are technically savvy and a marketing whiz but do not bother about finance and accounts, your business can go nowhere. Therefore sit with your accountant and be sure you understand everything in the plan and it is made in the manner in which you envisage the business to take off. It will help you understand when you are going to need financing, the gestation period involved and the like.
Or take a Business Plan writing class. I found that it was very helpful and in depth. You'll learn where there is money to be loaned in addition to keeping records, etc. It covers EVERYTHING. I couldn't have come as far as I have without the class. Call your local Small Business Association.
This is an interesting information about starting a business. Business plan should be always confined and product/services related. It should be profit oriented and planned according to requirement of target customers.
I normally recommend to contact a lawyer for creating a business plan; it would be more professional if you work together.
Come on man! What will lawyer do in this case? Even for investment and tax purposes, you can contact CA. I don't find any sense of intermingling lawyer in this. You know your business well and there is no one other than you who can pen down things.
AlexisB thumbs up for this nice info. I m also project manager in U-cube enterprises. I just want to share my knowledge with others regarding starting a new business or project plan. So here we go. First of all if you're going to start a new business or launching a project then it is very important to make a preliminary business plan that include all areas regarding your business or project like budgeting, scheduling, financial projection and management etc. After that make a mature business plan that will based on your preliminary plan. There are many tools are being used for making a business or a project plan in which business plan templates, project management templates are very popular. Some of these templates are free available on internet. Here is a recommended link for those who want to make business plan: [This post was edited to remove a link]

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