What is a business plan template

The business plan template also covers the management side of your business. The best tool for running a successful company is knowing what employees you will need. Save my name, email, and website in this browser for the next time I comment. A business model focuses on the methods and procedures through which the company plans to make money. A business proposal aims to encourage potential investors to support a business venture.

It also typically describes what will be achieved and appeals to the reader for funding support. In contrast, a business plan serves to provide a more in-depth look at a company, its mission statement and the different areas that will contribute to its success. To create a business plan you can use to make your business decisions, you first need to establish what your expectations and goals you want to achieve by using one. For example, if you want to resolve non-current liabilities by expanding your business into a niche market, this could be used to help write a business plan tailored to achieving your goal.

For long-term goals that require a shift in industry or brand identity, you might allow one to two years, whereas short-term goals like paying off short-term debts might be achievable within a few months. For example, with your budget, it might be impossible to create and launch four new products within two years, but, it might be reasonable to create and launch two new products within that same time frame.

Having easy-to-understand visuals can also be beneficial for you and other company officials who need to refer to your plan for quick information. For example, if you want to compare your revenue for the current month with the revenue you had at the start of the year, a chart or graphic is useful for quick recall.

Business plans serve as an excellent guide to help you make decisions. But if your goals, processes and results differ from what you laid out in the original plan, revise it to fit your shifting needs.

For example, if you have a good quarter, you might consider expanding your original goals to include the creation and launch of three products instead of two. Or, you might be able to pay off short-term debts a month early. Here is a list of steps to help you write a business plan that is unique to your business:. The executive summary is the introduction that outlines the contents of your plan.

This summary also defines your company and its purpose within your industry. The following information is usually included:. For example, the company description is where you mention the following:. The market analysis portion of your business plan should include a detailed report of your competitors and how you compare to them. First, you need to do research on your industry, key trends in the market and other information about your competitors.

This section could include the following information:. For example, from information included in your market analysis section, you can create marketing or advertisement campaigns, discover new ways to structure internal communications or expand into a new industry that helps level you against your competitors.

Include the following:. Business plan templates from PandaDoc can help you reach an effective go-to-market strategy even faster by asking you to provide all the relevant information you need when creating an effective business plan.

This depends on the kind of business plan you need to write and how you intend to use the plan that you create. For example, a plan for a small business seeking potential investors or a business loan will need to provide income statements, cash flow statements, and a balance sheet usually for a three-year or five-year forecast period. Some business plans may only run a few pages. Fully-developed business plans can be as long as 50 pages. Much of this depends on the type of business, the operational strategy, and the level of detail that goes into developing the business plan.

Every business should have a business plan. This is an essential guidance document for any founder or CEO. Good business plans help a company determine the viability of its place in the market and can help the business develop better strategies for differentiating itself from its competitors. Business planning also forces business owners to evaluate their marketing strategy, the cost of customer acquisition and retention, and how they plan to grow their business over time.

Business plans come in all shapes and sizes. The best business plan template for your business is one that you understand and that matches the size and legal structure of your operation. However, a business plan that helps you build an effective roadmap to grow your business while protecting your intellectual property is a good starting point. PandaDoc offers specialized business plan templates for common industries along with tips to help you get started with business planning.

These resources can guide you through the process, but you should write or be heavily involved in the creation of your business plan. In this article, we discuss what the lean business plan is, the benefits of using it, what it includes and how to create one and provide a lean business plan template and example. A lean business plan template is used to create a simplified plan.

This is a one-page template that requires little writing or formatting. Instead, it divides each component of your business plan into individual boxes with brief notes that you may revise or update as necessary. Business model: How your business will make money.

Schedule: What each person in your business will do and when. Strategy: What your business will do. Tactics: How your business will implement your strategy. Lean business plans allow you to develop the core aspects of your business strategy on one page. It allows you to refine what you want to do, who you're doing it for and what competition you may face. Lean business plans use customer needs and problems as the foundation of your success, and it focuses on your value proposition to differentiate you from your competitors.

Related: How to Craft a Value Proposition. Using a lean business plan offers a range of benefits, such as:. Creating focus on key drivers for your business strategy and success. Developing a plan that's easy to read and understand without a business background. Providing a visual representation of your business model. Providing flexibility to update your plan easily. Requiring less time to create than traditional business plans. Related: 7 Types of Business Plans.

A lean business plan typically has several different elements related to the overview of your business and business strategy. Each element receives its own box on the single page that makes up your lean business plan. The elements to include in a lean business plan are:. Competition: Who your competitors are and what alternatives your customers may buy and use.

Expenses: The key business expenses you have to operate your business. Identity: A short overview of your business. Marketing activities: What activities or strategies you will use to reach your customers and your cost or pricing structure.

Milestones: How you will test and begin your business.