Business planning takes a considerable amount of thought and attention to detail. It’s important to consider all aspects of your business and ensure that you’ve done sufficient research prior to creating your business plan. Below we outline some key information that will guide you as you tackle this important step.
Writing your first business plan
Building a strong business plan involves conducting research, developing measurable long-term goals, developing strategies, and customizing your plan.
Typical business plans and proposals include the following sections:
Executive Summary
Business Introduction & Description
Market Analysis
Marketing Strategy
Human Resources Strategy
Operations Strategy
Financial Projections
Exit or Succession Plan
Learn more about drafting your first business plan.
Why you need a business plan
A business plan helps to determine whether or not your idea is profitable and sustainable. Your plan also identifies and answers important questions for potential investors. It should identify both opportunities and risks, which will most likely be needed to secure external financing for your business.
In short, your business plan will become your go-to resource to help answer questions about your business and prove your value.
Samples and templates
Writing your first business plan can feel like a daunting task. We’ve made the process as simple as possible, by providing plenty of resources and offering expert guidance when you need it most.
To get started download our business plan template or book an appointment with one of our business advisors to learn how we can help.
