A detailed description of a new or existing business, including the company’s product or service, marketing plan, financial statements and projections and management principles, require a plan to be implemented. As part of any good business plan, you need to include financial projections for the business that provide a forecast for the next three to five years. If you’re running a business that you plan to maintain ownership of indefinitely, and you’re not seeking angel investment or VC funding, you can skip the exit strategy section.
Lean Canvas is a 1-page business plan template created by Ash Maurya that helps you deconstruct your idea into its key assumptions. While not essential, some businesses like to set out a mission statement which outlines their purpose or business philosophy.
If our sample plan isn’t exactly what you are looking for, explore our free business plan template Or, create your own custom business plan easily with LivePlan. Conduct training for the business continuity team and testing and exercises to evaluate recovery strategies and the plan.
For some products and services, you might want to describe use cases or tell a story about a real user who will benefit from (and be willing to pay for) your solution. Market Traction: Describe how you have succeeded in attracting customers, marketing and distribution partnerships, and other alliances that demonstrate that experts in your market are betting on your solution.
Every startup and small business is unique, so you’ll want to avoid copying a sample plan word for word. By understanding the market and the internal capabilities, the company is able to conceive realistic business objectives for the management and the team to achieve.