There are many types and styles of business plans out there from single page business plans to complex multi-page business strategies. How do you choose the template that’s right for your business?
This is not a one size fits all. Although there are specific sections that each business plan should include, the style and complexity of the plan will depend on your business and the purpose of the plan. For example, if you are approaching lending institution for financing then you want to ensure your plan is comprehensive enough for the lender to understand clearly what your business operation involves, how you plan to generate revenue, and where your business is positioned in the industry.
A one-page business plan on the other hand is used more as a pitch document for investors to quickly and easily understand the key aspects of your business idea. Think of it as an expanded elevator pitch.
When looking at business plan templates first consider what the main purpose of the business plan and who it is intended for. Also consider the flow and layout. It should be a professional document that is easy to follow and has logical sequence. Consider using a template with clearly laid out headings and sub-headings. Review each of these sections to ensure the key areas of your business will be covered and that you understand the scope of information to include in each section.
A good Business Plan Template should include the following:
o Executive Summary
o Company Description / Profile
o Industry Information and Market Research
o Sales and Marketing