What is in a business plan?

[rogercbryan]

What is in a business plan?

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I get asked all the time “what do I need to put into my business plan”. There is no simple answer to this question. Each business plan is written differently. I’ve personally written plans that are less then five pages and I have written plans that are well over 100 pages.

The first step in writing a plan is to consider your audience or who are you writing the plan for?

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[pboychuk]

Hmm i need to be convinced its worthwhile to make a business plan. I have never written one, but maybe since i keep my businesses soo close to myself I dont need to worry about how others will impact my success, but down the road I plan to loosen the reigns on my businesses as well as develop new ones. soo maybe i need to look into this business plan thing

[rogercbryan]

Can you run a business with out a plan? - Yes
Would you be more successful if you had a plan? - Maybe
Would you be able to better analyze your business if you have a plan? - Yes
Do the benefits of having a plan out weight the work of developing a plan? - Yes
Should every business have a plan? - Yes

[chrispalko]

Nice article rogercbryan.

I have written an article on where to get free business plan templates as well as other templates for your business.

YoungBusinessOwner.com » Free Business Templates

I see you referenced the SBA in your article. I, too, used some resources from the SBA.

I am a pretty organized person, but I wouldn't consider writing a business plan for my business ideas unless I was seeking outside funding or something of that nature. For many, a business plan is just what they need to stay on track. Without one, it's easy to go off on a tangent and leave out important aspects of a business.

[NickReffitt]

rogercbryan is correct that a business plan is very effective for target setting as it helps maintain motivation and can pull in some good results, however a business plan is required if you wish to source external finances.

A bank wouldn't even give you the time of day if you approached them without a business plan.

[sauer13]

Here is an old thread on business plans that was heavily contributed to by Akula. I'm not sure if he still hangs around on these forums but if he does, I look forward to the honor of being called an idiot by him some day.

Old Business Plan Thread

Personally, I look at business planning as from two different angles. One type of business plan is designed to secure funding from outside sources, and the other less formal plan is designed primarily as an outline for what one is trying to accomplish. Both are intended to develop, research, and test a business concept before launching; additionally, I believe business plans should outline goals and steps to be taken after launching to reach particular goals ie. break even point, desired profitability level, etc.