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What you need to know about
Business Plan



A Business Plan is a written statement specifying the goals of a business and describing how these goals are to be attained.

Uses

  • Starting a new business.
  • Revising business strategies that fail to address operational issues.

Overview

Building a new business can be a huge undertaking, and detailed business plans helps new companies attract capital and organize operations. Business plans are very important documents, and they must be well-organized, thoughtful and complete. If you need to form a business plan for your new undertaking, use this step-by-step guide to help you create a document that works for you.

Unlike Articles of Incorporation and other types of more formal corporate documents, business plans do not have to take a specific form or include particular information in order to be effective. Rather, business plans are meant to be decision-making tools, so entrepreneurs and managers craft the content and format of the plan in a manner that is most suitable to achieving overall business goals.

Preparing an effective business plan involves a wide range of skills and depth of knowledge. Because this is a document designed to help guide the direction of a business as a whole, it should address business activity pertaining to finances, human resources, real and intellectual property, supply chain management, marketing, and anything else critical to business operations.

This form allows businesspeople to create customized business plans that address all of the potentially complex and nuanced issues that should be included in a long-term plan. This is also a helpful tool for individuals seeking to rewrite an existing business plan, as best practices call for review and revision of business plans every 3-5 years. If you need to draft or update your business plan, use this interactive form to help you through the process.

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