![]() In this section, demonstrate your knowledge of the market by listing the current competitors and outlining your competitive advantage. Who is your company (and its products or services) attempting to reach? If possible, briefly define your buyer personas. ![]() Think of this section as the gap in the market you are attempting to close. In straightforward terms, define the problem you are attempting to solve with your product or service and how your company will attempt to do it. This section is the same as in the traditional business plan - simply offer an overview of what’s in the business plan, the prospect or core offering, and the short- and long-term goals of the company.ĭocument the larger company mission and vision. As opposed to a one-page business plan, which communicates high-level information for quick overviews (such as a stakeholder presentation), a simple business plan can exceed one page.īelow are the steps for creating a generic simple business plan, which are reflected in the template below. This page focuses on for-profit business plans, but you can read our article with nonprofit business plan templates.Ī simple business plan is a streamlined, lightweight version of the large, traditional model. In turn, a business plan has functional value as well: Not only does outlining goals help keep you accountable on a timeline, it can also attract investors in and of itself and, therefore, act as an effective strategy for growth.įor more information, visit our comprehensive guide to writing a strategic plan or download free strategic plan templates. While you certainly need to have a formalized outline of your business’s goals and finances, creating a business plan can also help you determine a company’s viability, its profitability (including when it will first turn a profit), and how much money you will need from investors. Larger organizations may also create (and update) a business plan to keep high-level goals, financials, and timelines in check. Startups, entrepreneurs, and small businesses all create business plans to use as a guide as their new company progresses.
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