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A Complete Business Plan Checklist - Key Points to include in your Business Plan and Track Progress

Creating an effective business plan requires addressing specific strategic and tactical questions with a high level of detail.

After you complete writing your business plan, how will you make sure that your business plan is complete and you did not miss any important details?

The best and easy way is to check your business plan with a standard business plan checklist.

Business plan checklist is the list of most important sections of the business plan that you should include into your business plan in the same order.

This checklist will guide you through the step-by-step process of writing an effective and successful business plan for your startup.

Business Plan Checklist

Please check the sections that you have included in your business plan from below list and track your  business plan progress .

Explore our 400+ sample business plans prepared for a wide variety of industries to help you start writing and planning your business plan.

Business plan checklist will also help you to write your business plan table of contents and outline of your business plan.

This business plan checklist is a general guideline for any standard business plan. But you should also keep in mind the purpose of your business plan and include specific details accordingly.

For Example, if you are writing a business plan for a loan from a particular bank, you should learn about their mandatory or specific criteria and must include that details into your business plan.

This business plan checklist prepared here will help you to think through your business and document it in a way that investors and other readers fully understand about your business.

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Business Plan Checklist

Whether it’s for a bank, investors, validation, and/or a roadmap, your company needs a written business plan to convert your ideas into an organized, professional document. 

The business plan format will change depending on why you’re writing it and who you’re writing it for. If you’re seeking validation, it’s best to start with a simple one-page pitch. On the other hand, if you’re pursuing funding, you’ll need a professional, formal business plan. 

Download our Ultimate Business Plan Template here >

  Regardless of the intentions behind your business plan, having a checklist of what needs to be included is helpful to make sure you’re effectively getting your ideas and strategies down on paper. 

As a baseline, your business plan should include these 10 sections:

Executive Summary

• Company Overview

Industry Analysis

• Customer Analysis

Competitive Analysis

Marketing plan, operations plan, management team, financial plan, the essential business plan checklist.

Here, I will explain the different elements you need to include in each section. Use this resource as a business plan questions checklist and mark them off as you go.

Your executive summary should explain the problem you are solving and how you intend to solve it. When reviewing your business plan, address the following:

• The function of your business
• Competitors
• Target customers
• Key financial highlights
• Key members of your team
• Business goals

Essentially, you want to ensure that your executive summary introduces your business in a detailed yet concise form, explaining the key parts of your business and the market.   

Company Overview 

Here, you will give a brief summary of your company as a whole and how it functions. Be certain to include:

• Company history
• Founding members
• Milestones you have achieved
• The legal structure of your business

    Finish Your Business Plan Today!

Your industry analysis will provide a summary of your market research. After doing your research, include answers to the following questions in your business plan:

• How big is the market?
• Where is the market currently: growing or declining? 
• Who are some of the key competitors? 
• What is influencing the industry? 

Customer Analysis 

In your customer analysis, you will explain the audience you are targeting and expect to serve. Be sure to focus on your target customers and the customer needs. It should explain the:

• Demographic profile of your target market
• Customer segments within that market

Your competitive analysis will address your competition in the market. It should have three subsections as follows:

• Direct Competitors: other businesses in your market (example: if you own an ice cream shop, other ice cream shops are direct competitors)
• Indirect Competitors: other businesses that may not specifically be in your business’s market, but provide similar results to that of your company (example: if you own an ice cream shop, grocery stores that sell ice cream are indirect competitors)

For each competitor, identify both their strengths and weaknesses. Be sure to address the following:

• What features do they offer?
• What is their pricing? 
• Who are their customers?
• What are they good at? 
• What are their weaknesses?

Describe your competitive advantages or what your business will do better. Here, provide answers to the following questions:

• Will you offer more or better features?
• Will you ensure better results for your users?
• Will you offer better pricing?
• Will your customer service be more efficient?

Be sure that your competitive analysis describes just how your business will succeed and stand out in its competitive market.   

Your plan should include the following marketing plan sections:

• Product : detail the specific features of your business’s product
• Price : identify your business pricing and if there will be different pricing levels (e.g., free, premium) and what exactly those levels will be
• Place : name where your business will be located
• Promotions : how you will attract customers to your business (social media advertising, pay-per-click advertising, magazine advertising, public relations, etc.)

Here, you will describe how your company will effectively meet the goals you identified in the earlier sections of your business plan. Your operations plan should have two sections:

• Every day short-term processes: all necessary daily operations completed simply for the function of your business (providing customer service, writing code, fixing bugs, etc.)
• Long-term goals: milestones you hope to achieve (reaching $X in sales, having Y amount of employees, etc.)

It is essential to have a strong management team for the function and success of your business. Be sure to include the following:

• Management team: highlight your key players’ backgrounds and describe their skills and talents
• Management team gaps: any experience that you think your business will need in order to succeed 
• Board members 

Your financial plan will document your 5-year financial projections , broken down in monthly or quarterly projections for the first year, and then annually thereafter. Your focus here is to show how much money you need, how much income you will earn, and when you will be profitable. 

Your financial plan should include:

• Profit & Loss statement 
• Cash flow statement
• Balance sheet
• Sales forecast
• Personnel plan
• Break-even analysis

To provide evidence to your numbers, include supporting documentation in your financial plan. 

Your appendix will provide any and all other documentation or information that you believe supports your business plan. If necessary, your appendix can include: 

• Resumes of key management, blurbs on other management members
• Job descriptions/titles
• Copies of forms
• Copies of licenses
• Personal and business tax returns (if applying for a loan)
• Marketing materials 

To ensure that your business plan effectively portrays the mission and potential success of your business, go through this checklist and make sure you have included each concept mentioned. A fill in the blank business plan also includes each of these key sections and can help you quickly and easily complete your business plan.  

Business Plan Checklist FAQs

How do i make a business plan checklist.

We’ve completed the hard work for you! You can download this Business Plan Checklist PDF for quick reference as you complete your business plan.

What are the 10 Components of a Business Plan?

Read our article detailing the 10 Key Components of the Business Plan .

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• Business Plan Checklist

The Business Plan Checklist is a comprehensive guide to help entrepreneurs create an effective business plan. It covers a range of topics, from the basics of business plans to detailed information on each section. It includes a simple set of questions to help entrepreneurs assess if their business plan is complete. Additionally, it provides tips and suggestions for improving the plan and contains links to additional resources. It's an invaluable tool for anyone starting a business or revising their existing business plan. It's easy to follow, and can help entrepreneurs create a plan that meets their needs and get the most out of their business.

• Executive Summary: Provide a concise overview of your business plan..
• Business Description: Describe the nature of your business, including the products or services you offer, the target market, and the competitive advantages you possess..
• Market Analysis: Identify and analyze your target market and assess the potential for your business..
• Organization and Management: Describe the organization of your business, including its legal structure, ownership, management team and key personnel..
• Products and Services: Describe the products and services you offer, how they are priced, and how you will promote them..
• Marketing Plan: Describe your marketing strategy, including how you will attract and retain customers..
• Financial Plan: Provide an overview of your financial projections, including your income statement, balance sheet, cash flow statement, and break-even analysis..
• Funding Request: Outline your funding needs and how you plan to use the funds..
• Appendix: Include any additional information or supporting documents that you believe are necessary..

Checklist Category

• Startup Essentials

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• Startup Funding Checklist
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Frequently Asked Questions

What is a business plan, a business plan is a written document that outlines a company's goals, plans and strategies for achieving them. it is typically created by the company's founders or management team and outlines the company's vision, mission, financial projections, and other important considerations., what information should be included in a business plan, a business plan should include a detailed description of the business, its product or service, its target market, its competitive advantage, its financial projections, and its management team. it should also include a detailed timeline for achieving the goals outlined in the plan., how do i create a business plan, the best way to create a business plan is to start by outlining the company's objectives and goals. from there, you can develop a detailed strategy for achieving those goals. finally, you can include financial projections and other details to help support the plan., when should i review my business plan, business plans should be regularly reviewed and updated to ensure that they remain effective and up-to-date. it is important to review the plan on a regular basis to ensure that it is still in line with the company's goals and objectives..

Home > Business > Business Startup

How To Write a Business Plan

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Starting a business is a wild ride, and a solid business plan can be the key to keeping you on track. A business plan is essentially a roadmap for your business — outlining your goals, strategies, market analysis and financial projections. Not only will it guide your decision-making, a business plan can help you secure funding with a loan or from investors .

Writing a business plan can seem like a huge task, but taking it one step at a time can break the plan down into manageable milestones. Here is our step-by-step guide on how to write a business plan.

Table of contents

• Write your executive summary
• Do your market research homework
• Set your business goals and objectives
• Plan your business strategy
• Describe your product or service
• Crunch the numbers
• Finalize your business plan

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Step 1: Write your executive summary

Though this will be the first page of your business plan , we recommend you actually write the executive summary last. That’s because an executive summary highlights what’s to come in the business plan but in a more condensed fashion.

An executive summary gives stakeholders who are reading your business plan the key points quickly without having to comb through pages and pages. Be sure to cover each successive point in a concise manner, and include as much data as necessary to support your claims.

You’ll cover other things too, but answer these basic questions in your executive summary:

• Idea: What’s your business concept? What problem does your business solve? What are your business goals?
• Product: What’s your product/service and how is it different?
• Market: Who’s your audience? How will you reach customers?
• Finance: How much will your idea cost? And if you’re seeking funding, how much money do you need? How much do you expect to earn? If you’ve already started, where is your revenue at now?

Step 2: Do your market research homework

The next step in writing a business plan is to conduct market research . This involves gathering information about your target market (or customer persona), your competition, and the industry as a whole. You can use a variety of research methods such as surveys, focus groups, and online research to gather this information. Your method may be formal or more casual, just make sure that you’re getting good data back.

This research will help you to understand the needs of your target market and the potential demand for your product or service—essential aspects of starting and growing a successful business.

Step 3: Set your business goals and objectives

Once you’ve completed your market research, you can begin to define your business goals and objectives. What is the problem you want to solve? What’s your vision for the future? Where do you want to be in a year from now?

Use this step to decide what you want to achieve with your business, both in the short and long term. Try to set SMART goals—specific, measurable, achievable, relevant, and time-bound benchmarks—that will help you to stay focused and motivated as you build your business.

Step 4: Plan your business strategy

Your business strategy is how you plan to reach your goals and objectives. This includes details on positioning your product or service, marketing and sales strategies, operational plans, and the organizational structure of your small business.

Make sure to include key roles and responsibilities for each team member if you’re in a business entity with multiple people.

Step 5: Describe your product or service

In this section, get into the nitty-gritty of your product or service. Go into depth regarding the features, benefits, target market, and any patents or proprietary tech you have. Make sure to paint a clear picture of what sets your product apart from the competition—and don’t forget to highlight any customer benefits.

Step 6: Crunch the numbers

Financial analysis is an essential part of your business plan. If you’re already in business that includes your profit and loss statement , cash flow statement and balance sheet .

These financial projections will give investors and lenders an understanding of the financial health of your business and the potential return on investment.

You may want to work with a financial professional to ensure your financial projections are realistic and accurate.

Step 7: Finalize your business plan

Once you’ve completed everything, it's time to finalize your business plan. This involves reviewing and editing your plan to ensure that it is clear, concise, and easy to understand.

You should also have someone else review your plan to get a fresh perspective and identify any areas that may need improvement. You could even work with a free SCORE mentor on your business plan or use a SCORE business plan template for more detailed guidance.

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The takeaway

Writing a business plan is an essential process for any forward-thinking entrepreneur or business owner. A business plan requires a lot of up-front research, planning, and attention to detail, but it’s worthwhile. Creating a comprehensive business plan can help you achieve your business goals and secure the funding you need.

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Business startup checklist: How to launch a startup step by step

Here, we'll walk you through all the things you need to launch a startup. And you can download our business startup checklist to keep you on track as you take your first steps as a new business owner .

Checklist for starting a business

1. Write a business plan

A business plan will help you nail down your goals and expectations and give you a roadmap for getting your company off the ground. If you plan to pitch investors or apply for a business loan, you'll need a business plan—most won't even consider a pitch unless there's a business plan attached.

Parts of a business plan

Depending on the complexity of your business idea, a business plan can be as short as a page or as big as a thick, data-packed document. No matter how simple or complex, every business plan should have at least a few key parts:

An executive summary , or a top-level outline of everything in the business plan.

A business description , including your company's structure, industry, value proposition , background information, and both short- and long-term business objectives.

A market analysis that evaluates where your business stands in relation to competitors, target customers, and industry trends.

A description of your products or services.

Financial projections like pricing and sales strategy, profit goals, and investor details.

An operational overview laying out the logistical "how"s of your business, including logistics, distribution, and production plans.

Business planning software

If you have any basic business experience or know-how, you can probably get through writing a business plan on your own, but if you're feeling totally lost or if you just want something to help move you through the steps more efficiently, business plan writing software might be the way to go. 

BizPlan and Enloop are two examples of business plan platforms with reasonable monthly costs. IdeaBuddy is another platform that's meant to be used earlier in the process when you're still fleshing out ideas to help develop and refine your business concept, then guide you toward a formalized plan. 

2. Estimate your startup costs

Calculating your startup costs will help you appeal to investors and estimate when your new business will start to become profitable. 

Types of startup costs

To begin, you'll need to calculate your exact startup costs. These may include:

One-time startup costs: state business registration fees, lease deposits, etc.

Labor costs: your salary plus worker salaries

Overhead costs: monthly office rent, utilities, taxes, computer equipment, production costs 

Spreadsheets are your friend with planning business finances—and we have a set of business budget templates to help you estimate monthly and one-time expenses for your business.

Start saving

Just like homeowners need an emergency fund for when the roof starts leaking, you also need an emergency fund for your new business. How much you need depends on the size of your operation and whether you're keeping your current job or going all-in on your new endeavor. It takes most startups at least a few months (and usually more) to become profitable, so if your startup is going to be your main source of income, you'll need at least a few months of operating expenses plus your own living expenses stashed away.

Find funding

Skip the family loan and second mortgage. Better loan options include the Small Business Association , your local bank, or new types of online lenders .

You might even start a crowdfunding campaign to generate cash—which is also a good way to test out your business idea's viability. Remember, though, that your purpose isn't to raise money. Your purpose is to create a viable business with products or services that genuinely help your customers.

3. Register your business

Before we dive into the details of business registration, a disclaimer: what we're providing here is a basic overview of the general requirements for most businesses in the United States. If you operate internationally or work in some niche industry like long-haul tobacco and airplane fuel shipping , these guidelines are one hundred percent guaranteed not to cover everything you need to know about registering your business. 

Even if your company is fairly small, there may be specific requirements in your state or county that aren't covered here. No matter what, make sure you do your own research with local and state governments or consult with a lawyer to determine the legal requirements that apply to you.

Pick a business structure

Business structures boil down to four main types: sole proprietorships, partnerships, limited liability companies, and corporations. For legal and tax purposes, decide which type you'll operate under—though you can always switch to a different business type as your company grows.

Sole proprietorships: This is the simplest type of business to start and run. It means that you are the company, and all assets and debts of the company are yours too. This also means you'll be personally liable for all business obligations like lawsuits or unpaid debts, so this is the riskiest business structure. 

Partnerships: T hese are like sole proprietorships, except there's more than one owner. Co-owners typically structure their business relationship with partnership operating agreements. Partners split the company's legal and financial obligations and also share in the profits.

Limited Liability Companies and Partnerships (LLCs and LLPs): When you form an LLC or LLP, you work as a "member" of the company, along with any company partners. If the company goes into debt or gets sued, your personal assets are protected. Compared to corporations, there's less paperwork and smaller startup costs.

Corporations: When you incorporate, you create a separate legal entity that owns all of the assets and liabilities for the company. Corporations are usually more attractive to outside investors—you can "go public" with an initial public offering (IPO) and raise money through selling stock in the company. 

Choose a business name

Start by writing down every single name that pops into your head, including the ridiculous names ( bad idea brainstorms work!). This will get your creativity flowing. Plus, you can pull elements that you like from the throwaway names and incorporate them into your more serious ideas.

If you plan to register a trademark on your business's name, keep in mind what can't be trademarked:

Any person's name who hasn't given expressed permission

Swears or other offensive content

Government flags and insignia

Your name also needs to meet the U.S. Trademark Office's requirements for "distinctiveness," which just means your trademark needs to be unique enough to avoid confusion between yourself and other similarly named businesses.

Register your company

All businesses except sole proprietors with no employees must register with the IRS and obtain an Employer Identification Number (EIN). This is your company's federal tax identification, which you'll use when paying taxes, opening a bank account, applying for business licenses, and hiring employees. 

You may need to register your business with your state government. Use the Small Business Administration's state lookup tool to find information for your state. Similarly, contact your local government office to find out if additional registrations or permits are necessary.

4. Open accounts and obtain permits

With your business plan in hand, it's time to lay the operational and financial groundwork to get your company off the ground. 

Open a company bank account

Even if you run a sole proprietorship and your business is just you, life will be easier if you have a separate bank account to manage your business finances. If you want to accept credit card payments either online or in person, look into credit card payment processing services .

Get licenses and permits

In certain industries, you'll need licenses and permits in order to operate legally. This usually applies in industries where there's a risk of damage to the customer—think construction, hair salons, and financial consulting. Some municipalities also require home-based businesses to hold a "home occupation permit," so make sure you find out what licenses you need before you open your doors, no matter what industry you're in.

Find out if you need a Sales Tax Permit

If you sell physical products and you operate in a state that collects sales taxes, you likely need to register for a Sales Tax Permit. Most states administer these permits for free or for a nominal fee.

5. Set up a financial accounting system

Money can get complicated very quickly, so you want to have an automated system for financial accounting, budgeting, and documentation before you start making any sales. 

Basic bookkeeping 101

There are a number of bookkeeping records that small business owners need to update on a regular basis to keep their business finances in order. These tasks include:

Income statements

Balance sheets

Cash flow statements

Bills and invoices

Quarterly financial statements

Tax returns

Unless you're very confident in your skills with an Excel spreadsheet, you should invest in accounting software or consider hiring a part-time bookkeeper . Check out Zapier's list of the best accounting software for small businesses for some apps to try out.

Understand your tax liability

Business taxes are very different from employee taxes. The biggest difference is that small businesses are required to file taxes quarterly instead of annually. You need to have enough cash on hand to remit payment to the IRS every three months, which can take some getting used to.

If you have employees, you'll also need to keep in mind that employee taxes are paid to the government by the employer. If you've ever looked at your own pay stubs, you'll know that each includes a record of what taxes were taken out of your paycheck. Those taxes aren't taken by the government directly—they're taken out by the employer, who is then responsible for sending employees' taxes to the IRS.

6. Buy business insurance

As soon as you hire employees, open a physical location, or begin to scale your business, you'll need liability insurance of some sort. General liability insurance covers you in case someone is injured on your property or as a result of your company's activities.

Additional policies that are common for new businesses include:

Professional liability: Covers you in case an error or omission on your part costs your clients money.

Workers' compensation: Covers medical expenses and lost wages for employees who are injured while working. 

Business interruption insurance: Helps replace lost revenue if your business is forced to close temporarily due to a natural disaster or other event.

Property insurance: Covers your physical property, from company equipment to office or warehouse space.

7. Create a management system

For a single-person business, a management system can be as simple as a set of to-do lists for keeping track of budgets and schedules. Larger businesses will need to formalize processes for managing workflows, finances, schedules, team organization, and more.

Management setup

When getting your management system up and running, focus on the essentials. At a minimum, you'll need a structure for managing:

Calendars and scheduling

Customer communications

Budgets, invoices, and other financial documents

Industry-specific KPIs

Purchasing and order fulfillment

If you're starting with a team, you'll also want to put together an organizational chart . Determining each person's responsibilities will help eliminate confusion and oversights.

Invest in branding and marketing

The fun part, of course, comes at the very end of all the operational logistics. Take some time to think through your marketing strategy before launching your business. At a minimum, you'll need to start with a website, a logo, and social media accounts.

Establishing a brand identity

Start by thinking through how you want to come off to others as a brand. Usually, your brand voice will align closely with the industry you're in—financial and legal firms tend to be serious and authoritative, while creative agencies need to be witty and innovative.

Consistency is far more important than trying for fancy, versatile, or expensive branding. A company with a simple, casual tone and one or two brand colors and basic designs will do far better than a company that tries out a different tone with each social post.

List of things needed to start a business

Starting a business doesn't need to be an overwhelming undertaking. With a bit of organizational planning and this business startup checklist , you can get your company up and running quickly. Of course, the more tasks you automate on this list, the smoother everything will run, and the quicker you'll be able to start making sales. Learn more with this small business guide to automation .

Related reading:

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The best free small business software

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This article was originally published in October 2016 by Melanie Pinola and has also had contributions from Amanda Pell. The most recent update was in May 2023.

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Amanda Pell

Amanda is a writer and content strategist who built her career writing on campaigns for brands like Nature Valley, Disney, and the NFL. When she's not knee-deep in research, you'll likely find her hiking with her dog or with her nose in a good book.

• Small business
• Entrepreneurship

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• Business Plan Checklist

Introduction to Business Plan Checklist:

Small Business Economics  found that  entrepreneurs that take the time to turn their idea into a structured plan are 152 percent more likely to start their business.

Are you bursting with ideas and eager to get the ball rolling on your business venture?

If so, you have come to the right place. 

This business plan checklist will help you transform all of those brilliant ideas into a coherent, organized, and professional business plan. 

Having a business plan will add legitimacy to your idea and will guide you in taking the appropriate steps to enable your business to blossom. 

Writing a business plan shouldn’t be complicated and we are here to help with the whole process.

Before you get stuck in, here is a little bit about us:

Process Street is super-powered checklists. It’s the easiest way to manage your recurring tasks , procedures, and workflows.

Create a checklist template and run individual checklists for each member of your team. You can check tasks off as you work through them, set deadlines, add approvals , assign tasks , and track each team member's progress .

You can also connect to thousands of Apps through Zapier and automate your workflows even more.

Let's get started. 

Complete the following tasks in a step-by-step fashion and you will see how quick (and easy) it is to write a professional business plan. 

Enter your basic information

Update this plan on a Q uarterly Basis. If you are running this checklist as a result of a drastic change within your business then run the checklist as though you are creating a new business plan from scratch. 

Having an up-to-date business plan is CRITICAL for the smooth running of any business. 

We recommend running through this checklist every few months and updating it whenever a change of plan occurs. 

Even if you haven't made any changes it is important to consistently check-in with your mission, values, and goals.  

The following tasks help to keep a record of who is editing the plan and how often. 

One-Page-Pitch:

A One-Page-Pitch is the simplest business plan you can write. 

Think of it as a one-page executive summary of your business. 

It is a great way to sort through all of your thoughts and get them down on paper before you begin writing a standard plan (this comes later in this business plan checklist). 

If you already have a One-Page-Pitch then upload it in the following task.

If not then no worries, just follow the checklist below.

Prepare one-page-pitch

Select the appropriate option from the dropdown below. 

If you have not yet created a OPP then create a document on your computer or on Google Docs. Then follow the subtasks below when creating the OPP.

• 1 Describe your business in one sentence
• 2 Describe the problem your potential customers have
• 3 Describe your solution to the problem
• 4 Explain who your target market/ ideal customer is
• 5 Describe your competitive advantage
• 6 Describe how you will sell to your customers
• 7 Describe what marketing activities you will use to attract customers
• 8 Detail your business model, what are your revenue streams
• 9 List your startup costs
• 10 List your primary goals and milestones that you want to accomplish over the next few months
• 11 Outline whether you wish to run the business alone or with a team/ freelancers
• 12 List any partners and resources you need to help you launch.

Whether you have just created a OPP or you already had one, upload it to this checklist for safe keeping.

Link OR Upload One-Page-Pitch below:

Standard Business Plan:

Why create a Standard Business Plan alongside a One-Page-Pitch?

Whilst a One-Page-Pitch is GREAT for getting your ideas on paper it lacks the components that make a business plan actionable. 

The Standard Business Plan delves deeper into the ways you plan on making your business happen. Most importantly, this plan is what investors and banks will expect to see. 

Are you ready to legitimize and set the infrastructure for your business? 

Remember to follow the tasks in a linear  fashion. 

Let's build your business. 

Define the opportunity

Use the opportunity section of your business plan to demonstrate what sets your product or solution apart from the crowd .

Explain the problem that you’re solving, your solution, who you plan to sell to, and how your product or service fits into the existing competitive landscape.

This section will also give you the opportunity to identify future plans and the vision for your business. 

Determine your mission

Bear all of your previous answers in mind and write a brief mission statement.

Consider the problem you are solving; the customer's needs; your solution to the problem; and how you will benefit. 

Identify future plans

A  vision statement determines the current and future objectives and plans of your business.

A business's vision guides your business in making decisions that should align with its values and goals.  A good vision statement  is short, simple, specific to your business, and leaves nothing open to interpretation. 

Use this section to validate your ideas and identify your future plans.

Prepare your vision statement

Now, briefly summarize your idea, future plans, and what you wish to accomplish with a vision statement. 

Write the Market Analysis:

A target market is a set of individuals sharing similar needs or characteristics that you and your business intend to serve. 

Because markets are constantly changing we have created sub-tasks within this section that allow you to quickly update the marketing analysis of your business plan. 

If this is your first time completing this checklist select:  first run-through from the dropdown menu below. 

If you have already completed this checklist but your business has witnessed big changes then run the checklist from scratch: as though it were the first time. 

Alternatively, select  check-in from the dropdown menu for any recent changes. This selection will save time and will not require you to go through the entire list of tasks within this section. 

Identify customers

Pinpoint who your customers are.

The first step in ascertaining your place within your target market is forming a relationship with your future customers.

Like any relationship, the more you know about someone the more likely you are to know what they want and how they want it. 

Get personal , picture your future customer in detail:

How old are they? What sex do they identify themselves as? What are their tastes? What are their spending habits? 

There are lots more questions you can ask to REALLY get to know your target market.

Remember, the more questions you ask, the closer you get to identify your customer's wants and needs. 

Do some research, then tick each of the boxes once you have the data: 

• 1 Do you know how old your customers are?
• 2 Do you know what sex they identify as?
• 3 Do you know their tastes?
• 4 Do you know their spending habits?

Highlight competitors

Establish your place within the industry. 

Before you embark on your venture you need to know what industry your business falls into; who your competitors are; and where you and slot into the mix. 

Unsure of your industry or your place within it?

A thorough Google search should provide plenty of information for your market analysis. There are websites for business analysis, financial statistics, demographics, trade associations, and just about everything you'll need to complete this checklist and your business plan. 

This section of your business plan requires regular updating. All industries are fluent, ever-changing, and growing. Good business management involves consistent industry analysis. To stay on top of the game you need to know who the key players are. 

Consider what buying factors make a difference in the success or failure of your competitors:

Is it price? Product features? Service? Support? Website? Branding? Online presence? Delivery dates?

Establish keys to success

Consider all the data you have gathered in relation to your customers and your competitors. 

Given the data, what do you think are the vital components in ensuring your business's success? Ideally, you will have between four and six keys to success (KTS).  

Struggling to narrow down your ideas? Here are a couple of examples:

• Excellent product and service that will build and maintain customer loyalty.

• A commitment to continuous improvement and total quality services.

Calculate TAM SAM SOM

TAM – Your total addressable market refers to the overall demand for the products or services your company provides.

SAM – Your serviceable available market refers to the segment of your TAM which you can reach.

SOM – Your serviceable obtainable market is kind of like your actual goal. This is how much of the market in your location you can realistically reach.

For more information on this topic check out this Process Street blog post: What is TAM SAM SOM? How to Calculate and Use It in Your Business.

Use the form fields below to record TAM SAM SOM data.

Risk Assessment:

“A major lesson in risk management is that a 'receding sea' is not a lucky offer of an extra piece of free beach, but the warning sign of an upcoming tsunami.” ―  Jos Berkemeijer

Business risk can be understood as the factors and events that can impact a company's operational and financial performance.

From tsunamis to employees quitting; to pandemics and system failure. Risks can occur at any time and at varying degrees of disastrousness. 

In fact, a lack of risk management strategies causes over 50% of startups to fail within their first four years.

However, all is not lost. 

A thorough risk assessment of the environment surrounding your business is vital in mitigating risks. 

By considering possible risks you develop short and long-term plans that promote the steadfastness of your business. 

Consider any external risks

There are three main components of risk assessment:

• Identifying the specific risks that your business faces.
• Determining the potential impact of each type of risk identified. This is done by comparing the likelihood of occurrence vs. the extent of consequences faced.
• Evaluating how your current resources and expertise can deal with the most significant risks you face 

External factors

Economic Risk: Remember the financial crisis of 2007/8? That is the type of thing you consider when assessing economic risks, along with all changes in the market.

Natural Risk: Think of the tsunami example, this is a natural risk. Natural risk factors include natural disasters that affect normal business operations.

Political Risk: The 2010 crisis in Venezuela shows how political decisions take by governmental leaders can influence your business. Think taxes; currency valuation; trade tariffs or barriers; investment; wage levels; labor laws; environmental regulations and development priorities, can affect your business conditions and profitability.

For guidance on managing risk click here

Consider any internal risks

Internal risks.

Internal risks happen from within your organization.

Human-factor Risk:  All things relating to you or your staff and your ability to work.

Human-factor risks include:

Union strikes

Dishonest employees

Ineffective management or leadership

Failure within the production and supply streams

Failure to pay by clients/customers

Technological risk:  unforeseen changes in the manufacturing, delivery, or distribution of a company's product or service.

Technological risks include:

Failure of systems

Lack of skilled IT staff

Software and server problems

Dated technology and systems

Physical risk: is simply the loss or damage of assets  belonging to a company. 

Market and risk check-in

Consider any changes or developments  within your target market or risk enviroment.

Be sure to consider the following questions. 

• 1 Who are my potential customers?
• 2 What are their buying and shopping habits?
• 3 How many of them are there?
• 4 How much will they pay?
• 5 Who is my competition?
• 6 What have their challenges and successes been?
• 7 What are the internal and external risks?

Accessing the Target Market:

Complete the marketing strategy.

A quick note on the difference between marketing strategy and marketing plan: The marketing strategy informs the marketing plan, which is a document that details the specific types of marketing activities your business conducts.

Get out there. 

You've established who your target market is and who your key competitors are. The next move is to establish how you plan to reach your customers.

What is a marketing strategy? Y our business's game plan  for reaching your target market. 

A marketing strategy contains:

Value proposition: how your product or service solves/improves problems, what benefits customers can expect, and why customers should buy from you over your competitors.

Key brand messaging:  refers to conveying the value proposition and the language used in your content. It’s what makes buyers relate to your brand. 

• Nike : Just do it.
• Subway : Eat fresh.
• Levis : Quality never goes out of style.

Once you have determined your marketing strategy , complete the form fields below.

Data on target customer demographics:  we touched on this when researching the target market. Demographics are subsets of a target market that share particular attributes.

Understand the marketing plan

A marketing plan is operational and outlines a detailed advertising strategy. It details how your business plans to reach customers.

The plan includes details on promotional campaigns you plan to run and how you plan to monitor the effectiveness of these initiatives.

Whilst the following tasks cover the most important steps for a marketing plan there is a lot more you can do to increase your outreach. If you wish to delve deeper into the realm of marketing and planning then click here .

Components of a marketing plan:

• Market research to support pricing decisions and new market entries.
• Platform selection for connecting with customers and promoting your product or service.
• Tailored messaging that targets the demographics within your market.
• Metrics that measure the results of marketing efforts and their reporting timelines.

Plan how to communicate with customers

"The aim of marketing is to know and understand the customer so well the product or service fits them and sells itself." - Peter Drucker, These 10 Peter Drucker Quotes May Change Your World.

Be creative in determining how to communicate with your customers. Think online, digital, radio, trade magazines, blogs, newsletters.

If you are looking for inspiration then have a read through this blog : 

Or this one .. . 

This is also interesting

Definitely check this out.  

*that'll do* 

Once you feel suitably inspired, fill out the tasks below.

• 1 Instagram
• 4 Telephone

Consider tailored messaging

Consider your value proposition and take the same tone that you did when deciding your brand messaging. 

Ever had something tailor-made? Remember the effort that went into customizing that item to be your perfect fit. 

This is what you want to do for each and everyone one of your customers, make them feel as though  you are the perfect fit for them. 

A tailored message is customized for each and every customer. They are great for creating a personal connection with customers and generating new business. 

Identify milestones

Milestones make your business plan specific, and concrete.

Milestones are dates, deadlines, tasks, and budgets.

Examples of milestones:

• When you launch the product/service.
• Open the new store.
• Hire a new person (or expand in general).
• Change locations online or offline.
• Start a new marketing campaign.

Milestones list and categorize what’s supposed to happen—and when it’s supposed to happen.

They include launch dates, review dates, prototype availabilities, advertising, social media, website development, and programs to generate leads and traffic.

The milestones set the plan tactics into practical, concrete terms with real budgets, deadlines, and management responsibilities. They are the building blocks of strategy and tactics. They are essential to  your ongoing plan-vs-actual management and analysis,  which is what turns your planning into management.

As you need tactics to execute strategy, so too you need milestones to execute tactics. Normally you’ll look for a close match between tactics and milestones.

You develop your milestones by thinking through strategy, tactics, and actions you need to take. 

Once you have determined your milestones, use the form fields below to record them. 

Identify metrics

Metrics are performance measurements that you track as part of your regular planning process. 

They are numbers that you gather to analyze and compare. 

The most obvious metrics are in financial reports: sales, cost of sales, expenses, and so on.

Understanding and managing financial reports and numbers closely helps to build accountability in your business.

Identify Product Details:

Input data concerning your product or service.

Hopefully, by this stage in your business plan, you know what your product or service is. In which case the following steps should be self-explanatory. 

Use this section to outline the details of your product.

Write sourcing strategy

When considering where you are going to source your products it is  really important  that you consider three things:

• Delivery time
• Quality control

Another thing to consider is  sustainability.

Climate conscious brands are becoming increasingly popular. Being a sustainable brand means that you can positively influence the environment whilst growing your business at the same time! 

Determine pricing strategy

Pricing strategy  refers to the method you use to  price  your products or services.

A good approach to take is to base the price of your product on production, labor, and advertising expenses and then add on a certain percentage so that you can make a profit.

Use the form field below to input your pricing strategy.

Indicate location and facilities

Consider where your business is based:

• Will your business have an online presence?
• Will you require the use of any extra facilities?
• How do you plan to distribute your product?

Establish Your Financials:

Assess your financial needs. 

What do you need to get your business off the ground? 

The following tasks feature checklists that guide you in getting your finances planned, documented, and organized. 

Remember to upload the final document to this checklist so that everything is stored securely in one place. 

Establish funding requirements

Use the form fields below to determine your business's financial needs.

Complete projected balance sheet

If you already have a projected balance sheet then upload it below and move on to the next task.

If not then follow this checklist to create your Balance Sheet Statement and upload the final document:

Determine your cash flow planning process

If you already have a cash flow then upload it below and move on to the next task.

If not then follow this checklist on The Financial Planning Process and upload/link the final document:

Legalize your business

The legal requirements for launching a business vary depending on your location, the size of the business, the number of employees you have, and so on. 

Research the specific requirements for your business and considering the following: 

• 1 Appropriate licenses and permits
• 2 Sales tax permit
• 3 Business License
• 4 Accounting and record-keeping system
• 5 Insurance

Write the Executive Summary:

Remember the One-Page-Pitch you wrote, this is a re-draft of that. 

Take everything that you have inputted thus far into account when writing your executive summary. 

Talk about the problem you are solving, what your solution is (your product or service usually), the market, the competition, and some key financial highlights. 

Prepare executive summary

Use this task to guide you in preparing your executive summary.

Utilize the subtasks below to ensure you include all of the required information. 

• 1 A summary of my business.
• 2 A summary of my products/services.
• 3 Your mission statement.
• 4 Your vision statement.
• 5 Summary of your organizational structure.
• 6 Summary of your target market and ideal customer.
• 7 Evaluation of the external and internal risks.
• 8 Summary of the future of my business and my industry.
• 9 Summary of my financial data and projections.
• 10 Summary of legalities.

Upload your executive summary in the appropriate form field below. 

Your Standard Business Plan:

Create a standard business lan.

Create a document either in Google Docs or on your computer.

Input the following headings into the document to organize your business plan:

Opportunity

Market analysis, risk assessment, marketing strategy and plan, product details, executive summary.

The following steps will gather all the data from this checklist. Copy and paste the data from each of the sections into your document.

Then upload or link the document. 

Basic Information

{{form.Your_name}}

{{form.Role_within_the_business}}

{{form.Today's_date}}

{{form.Problem_to_be_solved}}

{{form.Unmet_customer_needs}}

{{form.Customer_benefits_of_solving_problem}}

{{form.Proposed_solution_to_the_problem}}

{{form.Business_benefits_of_solving_the_problem}}

{{form.Mission_statement}}

{{form.Validate_idea_2}}

{{form.Identify_future_plans_2}}

{{form.Four_things_to_accomplish}}

{{form.Vision_statement}}

{{form.Potential_customers_2}}

{{form.Customers_buying_habits}}

{{form.Amount_of_customers_in_your_target_market}}

{{form.Amount_customers_are_willing_to_pay}}

{{form.Your_industry}}

{{form.Current_size_of_your_industry_2}}

{{form.Competitors_within_your_industry_2}}

{{form.Identify_lead_competitors_2}}

{{form.Competitors_challenges/successes}}

{{form.Buying_factors_within_your_industry}}

{{form.Calculate_TAM}}

{{form.Calculate_SAM}}

{{form.Calculate_SOM}}

{{form.Identify_KTS}}

{{form.Internal_risks}}

{{form.Impact_of_internal_risks}}

{{form.How_internal_risks_will_be_managed}}

{{form.External_risks}}

{{form.Impact_of_external_risks}}

{{form.How_external_risks_will_be_managed}}

{{form.Recent_changes_or_developments_within_your_industry}}

{{form.Value_proposition}}

{{form.Ideas_for_branding_message}}

{{form.Customer_demographics}}

{{form.Summarize_data_to_include_in_plan}}

{{form.Select_which_social_media_platforms_you_will_use}}

{{form.Social_media_strategies_you_intend_to_use}}

{{form.Select_direct_communication_methods}}

{{form.Use_of_alternative_communication_methods}}

{{form.Plans_for_promotional_campaigns}}

{{form.Establish_product_offerings}}

{{form.Messaging_you_will_use}}

{{form.Product_or_service}}

{{form.Competitive_advantage_of_product}}

{{form.Sourcing_strategy}}

{{form.Pricing_structure}}

{{form.Location}}

{{form.Facilities}}

{{form.Plans_for_distribution}}

{{form.Will_your_business_require_extra_funding?}}

{{form.Source_of_funds}}

{{form.Use_of_funds}}

{{form.Financial_strategy_for_the_future}}

{{form.Legal_requirements_and_measures_to_be_taken}}

{{form.Copy_and_paste_executive_summary}}

Use the form field below to upload your first d

Send business plan for review

Utilize the email widget to send the document for review. Getting someone to review your business plan is a key step in creating a professional and error free document. 

Upload final sstandard business plan

Congratulations!

You have completed the checklist and created your business plan.

Once you have finished editing the document be sure to upload/link it here so that it is stored in a safe place. 

• Bplans Blog - How to Write a Business Plan: Use This Checklist to Keep Yourself on Task 
• Sba.gov - How to Write A Business Plan
• Bplans Blog - Industry Analysis: Know Your Industry Before You Start Your Business 

Lori Hubbard - Why Is Identifying the Target Market so Important to a Company?

• Bplans Blog - How to Write a Market Analysis 
• Effectuation.org - The Multiple Effects of Business Planning on New Venture Performance
• Larry Myler - 7 Ways To Make Your Business Stand Out In A Crowd Of Competitors 
• AppSuccess - Bussiness Plan PDF
• Minutehack - Why Your Startup Should Use A Risk Assessment 
• Investopedia - How Companies Can Reduce Internal and External Business Risk 
• Process Street - Marketing Process Toolkit: 10 Checklists to Crush Your Competition | Process Street | Checklist, Workflow , and SOP Software
• Neil Patel - 20 Uncommon Marketing Strategies That'll Kickstart Your Startup 

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More templates like this.

Business Plan Checklist

• By Jake R Brady on Dec 22, 2011

• Gather your basic financial statements
• Provide documentation Financial statements are ;formal records of your business' financial activities. There are four basic statements:
• Income statement: Your bottom line subtracting costs from revenue to come up with net profit
• Balance sheet: A financial snapshot that shows what you own, what you owe, and what your company is worth
• Cash flow statement: A cash monitor that follows the flow of cash in and out of your company
• Budget: Your financial forecast that indicates where you plan to make and spend money
• Determine your audience
• Identify customers and the competition This is a critical part of a successful business plan. ;Incorporate research on both groups.
• Ask these questions of customers: Who is buying, what do they buy, and why ;do they buy?
• Ask these questions of competitors: How big are they, which customers are they after, and what is their strategy?
• Incorporate these elements
• Executive summary
• Company overview
• Business environment
• Company description
• Company strategy
• Financial review
• Action plan
• Consider these topics
• Plans: Company mission, vision, goals, and objectives that all work together
• Organization: A structure for your company that makes sense
• Procedures: Efficient and effective ways of doing things
• Leadership: An ability to influence and encourage others around you
• Skills: The talents and expertise your people need to succeed
• Culture: Beliefs and attitudes that lead to doing the right thing
• Consider the other factors on this list of business-planning essentials:
• Get everyone involved in setting goals and objectives
• Learn all you can about your customers
• Understand who your competitors are
• Identify your strengths and weaknesses relative to opportunities and threats
• Determine which capabilities you absolutely need to succeed
• List all the things you do that add customer value
• Make sure that you do your financial homework
• Imagine several different versions of your company's future
• Avoid business failure
• Do your research, and prepare If you're not prepared, your business will likely fail.
• Establish a long-term company vision Be sure to establish and follow clear goals and objectives to meet the vision.
• Prepare for change Stay flexible and you will succeed.
• Focus on the customers And whatever you do, don't underestimate the competition.
• Be a strong leader Communicate well, and often.
• Share via: Twitter , LinkedIn , Facebook , Whatsapp
• 46 views today
• 59 uses today

A well-developed business plan is critical for any start-up business. To develop a thorough business plan, research your customers and competition; avoid mistakes that lead to business failure; and know how to implement a business plan and make it work. Your business plan should include a basic financial statement, all major pieces of a business plan, and information from your business-planning checklist.

• Keep your focus on these three things:
• Cut costs to the bone
• Offer something unique
• Focus on one customer group

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Free Business Plan Templates in Excel

By Joe Weller | September 27, 2020

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In this article, we’ve rounded up an extensive list of free business plan templates and samples for organizations of all sizes. You can download all of the plans in Excel. 

Included on this page, you’ll find business plan templates in Excel , business plan checklists in Excel , business plan financial templates in Excel , and more.

Business Plan Templates in Excel

These Excel business plan templates are designed to guide you through each step of a well-rounded strategy that supports your marketing, sales, financial, and operational goals.

Business Plan Template in Excel

This Excel business plan template has all the traditional components of a standard business plan, with each section divided into tabs. This template includes space to provide the executive summary, target audience characteristics, product or service offering details, marketing strategies, and more. The plan also offers built-in formulas to complete calculations for sales forecasting, financial statements, and key business ratios.

Download Business Plan Template

Excel | Smartsheet

One-Page Business Plan in Excel

To check the feasibility of your business concept, use this single-page business plan template. The template allows you to jot down the core details related to your idea. This template also includes room for you to provide concise information about what you do, how you do it, why you do it, who your idea serves, your competitive advantage, your marketing strategies, and your success factors. At the bottom of this one-page plan, you’ll find a table to conduct a SWOT (strengths, weaknesses, opportunities, and threats) analysis. Find more downloadable single-page plans and examples at “ One-Page Business Plan Templates with a Quick How-To Guide .”

Download One-Page Business Plan

Excel | Word | PDF | Smartsheet

Sample 30-60-90-Day Business Plan for Startup in Excel

This 90-day business plan is designed for startup companies to develop a 90-day action plan. This template gives you room to outline the following: main goals and deliverables for each 30-day increment; key business activities; task ownership; and deadlines. This template also includes a built-in Gantt chart that adjusts as you enter dates. Visit “ 30-60-90-Day Business Plan Templates and Samples ” to download more free plans.

Download 30-60-90-Day Business Plan for Startup

For more free business plans in a wider variety of formats, visit “ Simple Business Plan Templates .”

Business Plan Checklists in Excel

These business plan checklists are useful for freelancers, entrepreneurs, and business owners who want to organize and track the progress of key business activities.

Business Planning Checklist with Timeline in Excel

Use this checklist to keep your business planning efforts on track. This template enables you to add tasks according to each phase of your plan, assign an owner to each task, and enter the respective start and end dates. The checklist also enables you to create and color-code a visual timeline when you highlight the start and end dates for each task.

Download Business Planning Checklist with Timeline Template

Business Plan Checklist with SWOT Analysis in Excel

Use this business plan checklist to develop and organize your strategic plan. Add the name of the business activity, along with its status, due date, and pertinent notes. This template also includes a separate tab with a SWOT analysis matrix, so you can evaluate and prioritize your company’s strengths, weaknesses, opportunities, and threats.

Download Business Plan Checklist with SWOT Analysis - Excel

Business Startup Checklist in Excel

This checklist template is ideal for startup organizations. It allows you to list and categorize key tasks that you need to complete, including items related to research, strategic relationships, finance, development, and more. Check off each task upon completion to ensure you haven’t missed or overlooked any important business activities. Find additional resources by visiting “ Free Startup Plan, Budget & Cost Templates .”

‌Download Business Startup Checklist Template

Business Plan Financial Templates in Excel

Use these customizable templates to develop your organization’s financial plan.

Business Startup Costs Template in Excel

Use this template to estimate and track your startup and operational costs. This template gives you room to list line items for both funding and expenses; you can automatically calculate totals using the built-in formulas. To avoid overspending, compare budgeted amounts against actual amounts to determine where you can cut costs or find additional funding.

Download Business Startup Costs Template

Small-Business Budget Template in Excel

This simple business budget template is designed with small businesses in mind. The template helps you track the income and expenses that you accrue on a monthly and yearly basis. To log your cash balances and transactions for a given time frame, use the tab for cash flow recording.

Download Small-Business Budget Template - Excel

Startup Financial Statement Projections Template

This financial statement projections template includes a detailed profit and loss statement (or income statement), a balance sheet with business ratios, and a cash flow statement to analyze your company’s current and future financial position. This template also comes with built-in formulas, so you can calculate totals as you enter values and customize your statement to fit the needs of your business.

‌ Download Startup Financial Statement Projections Template

For additional templates to help you produce a sound financial plan, visit “ Free Financial Templates for a Business Plan .”

Business Plan Marketing and Sales Templates in Excel

Use these downloadable templates to support and reinforce the marketing and sales objectives in your business plan.

Sales Forecast Template in Excel

This sales forecast template allows you to view the projected sales of your products or services at both individual and combined levels over a 12-month period. You can organize this template by department, product group, customer type, and other helpful categories. The template has built-in formulas to calculate monthly and yearly sales totals. For additional resources to project sales, visit “ Free Sales Forecasting Templates .”

Download Sales Forecast Template

Marketing Budget Plan in Excel

This marketing budget plan template helps you organize and plan your campaign costs for key marketing activities, such as market research, advertising, content marketing , and public relations. Enter the projected quantity and cost under each campaign category; the built-in formulas enable you to calculate projected subtotals automatically. This template also includes a graph that auto-populates as you enter values, so you can see where your marketing dollars are going.

Download Marketing Budget Plan Template

Other Business Plans in Excel

Use these business plan templates to conduct analyses and develop a plan of action that aligns your strategy with your main business objectives.

Business Action Plan Template in Excel

Use this basic action plan template to develop a roadmap for reaching your goals. Add a description of each action item, assign the responsible party, and list the required resources, potential hazards, key dates, and desired outcome. You can use this template to develop an action plan for marketing, sales, program development, and more. 

Download Business Action Plan Template

Business Plan Rubric in Excel

Once you complete your business plan, use this rubric template to score each section to ensure you include all the essential information. You can customize this rubric to fit the needs of your organization and provide insight into the areas of your plan where you want to delve more deeply or remove unnecessary details. By following these steps, you can make certain that your final business plan is clear, concise, and thorough.

Download Simple Business Plan Rubric

Competitive Analysis Template in Excel

This template enables you to analyze the competitive landscape and industry for your business. By providing details related to your company and competitors, you can assess and compare all key areas, including the target market, marketing strategies, product or service offerings, distribution channels, and more.

Download Competitive Analysis Template

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For additional free templates for all aspects of your business, visit “ Free Business Templates for Organizations of All Sizes .”

Turbo-Charge Your Business Plans with Templates from Smartsheet

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Funded, in part, through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.

10 Simple Tips to Write a Successful Business Plan

"The absolute biggest business plan mistake you can make is to not plan at all." So writes Noah Parsons in his helpful blog post 17 Key Business Plan Mistakes to Avoid in 2023 . But how does one pull together all of the necessary components of a cohesive plan? It can feel overwhelming.

Eric Butow, CEO of online marketing ROI improvement firm Butow Communications Group, has teamed up with Entrepreneur Media to update the second edition of our best-selling book Write Your Business Plan to provide you with a simple, step-by-step process for creating a successful business plan. In the following excerpt, he gives ten tips to gather all of the critical information you will need to succeed.

1. Know your competition.

You need to name them and point out what makes you different from (and better than) each of them. But do not disparage your competition.

2. Know your audience.

You may need several versions of your business plan. For example, you may need one for bankers or venture capitalists, one for individual investors, and one for companies that may want to do a joint venture with you rather than fund you.

3. Have proof to back up every claim you make.

If you expect to be the leader in your field in six months, you have to say why you think that is. If you say your product will take the market by storm, you have to support this statement with facts. If you say your management team is fully qualified to make the business a success, be sure staff resumes demonstrate their experience.

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4. Be conservative in all financial estimates and projections.

If you feel certain you'll capture 50 percent of the market in the first year, you can say why you think so and hint at what those numbers may be. But make your financial projections more conservative. For example, a 10 percent market share is much more credible.

5. Be realistic with time and resources available.

If you're working with a big company before you buy a business, you may think things will happen faster than they will once you have to buy the supplies, write the checks, and answer the phones yourself. Being overly optimistic with time and resources is a common error entrepreneurs make. Being realistic is important because it lends credibility to your presentation. Always assume things will take 20 percent longer than you anticipated. Therefore, twenty weeks is now twenty-four weeks.

6. Be logical.

Think like a banker and write what they would want to see.

7. Have a strong management team.

Make sure it has good credentials and expertise. Your team members don't have to have worked in the field. However, you need to draw parallels between what they've done and the skills needed to make your venture succeed. Don't have all the skills you need? Consider adding an advisory board of people skilled in your field and include their resumes.

Write Your Own Business Plan is available now at Entrepreneur Bookstore | Barnes & Noble | Amazon

8. Document why your idea will work.

Have others done something similar that was successful? Have you made a prototype? Include all the variables that can have an impact on the result or outcome of your idea. Show why some of the variables don't apply to your situation or explain how you intend to overcome them or make them better.

9. Describe your facilities and location for performing the work.

That includes equipment you use to create your products and/or services. If you'll need to expand, discuss when, where, and why.

10. Discuss payout options for the investors.

Some investors want a hands-on role. Some want to put associates on your board of directors. Some don't want to be involved in day-to-day activities at all. All investors want to know when they can get their money back and at what rate of return. Most want out within three to five years. Provide a brief description of options for investors, or at least mention that you're ready to discuss options with any serious prospect.

To dig deeper, buy Write Your Own Business Plan and get 1 month of free access to business planning software Liveplan Premium.

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Starting a Business

When starting a new business, there are many important decisions to make and many rules and procedures that must be addressed. While there is no single source for all filing requirements, the following steps have been developed to assist you in starting your business.

It is helpful to begin with a business plan. A business plan is a blueprint of every aspect of your business. Sales, Marketing, Advertising, Promotion and Location are just some of the categories to consider when creating a plan. Go to the U.S. Small Business Administration website to find a tutorial on how to create a business plan.

If you would like help deciding on a location for your business, contact the California Business Investment Services unit of the Governor’s Office of Economic Development (GO-Biz) . The California Business Investment Services unit provides tailored site selection services for businesses, real–estate executives, and site selection consultants.

Choose a business structure. A brief overview of the following types of legal business structures available in California can be found on our Entity Types website:

• Corporation
• Limited Liability Company
• Limited Partnership
• General Partnership
• Limited Liability Partnership
• Sole Proprietorship

Your next step will be to file your tax and employer identification documents .

Most businesses require licenses or permits in order to operate. Please click on each of the resources below to determine if your business requires any licenses or permits.

• CalGOLD (The Gold Standard For Permit Assistance)
• Department of Consumer Affairs

Additional Resources

For additional resources on how to start a business, visit  Starting a Business Checklist webpage and click on the Starting a New Business in California (PDF) brochure.

Resources for People with Disabilities

Department of Rehabilitation Business Enterprises Program Self Employment Program Assistive Technology

California Department of General Services California Commission on Disability Access

U.S. Department of Labor Office of Disability Employment Policy Self-Employment & Entrepreneurship

Social Security Administration Ticket to Work Welcome to the Ticket to Work Program!  Plan to Achieve Self-Support (PASS)

U.S. Small Business Administration (SBA) Entrepreneurship Resources for People with Disabilities Starting & Managing

Go-Biz How to Start-Up a Small Business in California

USAGov Start Your Own Business

Resources for Veterans

California Department of Veterans Affairs (CalVet) Veteran Business Ownership and Resources Disabled Veteran Business Enterprise (DVBE) Program Get Certified as a DVBE (Disabled Veteran Business Enterprise)

U.S. Small Business Administration (SBA) Veteran-Owned Businesses Veteran Assistance Programs Office of Veterans Business Development

US Department of Veteran Affairs Get support for your Veteran-Owned Small Business Veteran Entrepreneur Portal VetBiz

Resources for Women and Minority Groups

U.S. Small Business Administration (SBA) Women-Owned Businesses Women's Business Centers

California Commission on the Status of Women and Girls Programs

U.S. Small Business Administration (SBA) Minority-Owned Businesses Business Guide

California Office of the Small Business Advocate Community Partner Resources

California Public Utilities Commission Certification 

US Department of Commerce  Minority Business Development Agency

Disclaimer: The information and links to various websites, including various non–governmental sites, are provided for your convenience. The information on this website is constantly updated; however, there may be omissions or additional requirements not represented here. This is unintentional and does not exempt any individual or institution from complying with the laws and regulations of the State of California and the federal government. Inclusion of links to other websites is not an endorsement of those sites by the California Secretary of State, the State of California or the federal government.

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Manufacturing Business Plan PDF Example

• May 7, 2024
• Business Plan

Creating a comprehensive business plan is crucial for launching and running a successful manufacturing business. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your manufacturing business’s identity, navigate the competitive market, and secure funding for growth.

This article not only breaks down the critical components of a manufacturing business plan, but also provides an example of a business plan to help you craft your own.

Whether you’re an experienced entrepreneur or new to the manufacturing industry, this guide, complete with a business plan example, lays the groundwork for turning your manufacturing business concept into reality. Let’s dive in!

Our manufacturing business plan covers all essential aspects necessary for a comprehensive strategy. It details operations, marketing strategy , market environment, competitors, management team, and financial forecasts.

• Executive Summary : Provides an overview of the manufacturing company’s business concept, market analysis , management, and financial strategy.
• Facilities & Equipment: Describes the facility’s capabilities, machinery, and technological advancements.
• Operations & Supply: Outlines the production processes, supply chain logistics, and inventory management.
• Key Stats: Offers data on industry size , growth trends, and market positioning.
• Key Trends: Highlights significant trends impacting the industry, such as automation and localization.
• Key Competitors : Analyzes primary competitors and differentiates the company from these rivals.
• SWOT: Analyzes strengths, weaknesses, opportunities, and threats.
• Marketing Plan : Outlines tactics for attracting new contracts and maintaining client relationships.
• Timeline : Sets out key milestones from inception through the first year of operations.
• Management: Information on the management team and their roles within the company.
• Financial Plan: Projects the company’s financial performance over the next five years, detailing revenue, profits, and anticipated expenses.

Manufacturing Business Plan

Fully editable 30+ slides Powerpoint presentation business plan template.

Download an expert-built 30+ slides Powerpoint business plan template

Executive Summary

The Executive Summary introduces your manufacturing business plan, offering a concise overview of your manufacturing facility and its products. It should detail your market positioning, the range of products manufactured, the production process, its location, size, and an outline of day-to-day operations.

This section should also explore how your manufacturing business will integrate into the local and broader markets, including the number of direct competitors within the area, identifying who they are, along with your business’s unique selling points that differentiate it from these competitors.

Furthermore, you should include information about the management and co-founding team, detailing their roles and contributions to the business’s success. Additionally, a summary of your financial projections, including revenue and profits over the next five years, should be presented here to provide a clear picture of your business’s financial plan.

Make sure to cover here _ Business Overview _ Market Overview _ Management Team _ Financial Plan

Dive deeper into Executive Summary

Business Overview

Facilities & equipment.

Describe your manufacturing facility. Highlight its design, capacity, and technology. Mention the location, emphasizing accessibility to transport routes. Discuss advantages for efficiency and cost management. Detail essential equipment and its capabilities.

Operations & Supply Chain

Detail product range. Outline your operations strategy for efficiency and scalability. Discuss supply chain management. Highlight sourcing of materials, inventory control, and logistics. Emphasize strong partnerships with suppliers and distributors.

Make sure to cover here _ Facilities & Equipment _ Operations & Supplies

Market Overview

Industry size & growth.

Start by examining the size of the manufacturing industry relevant to your products and its growth potential. This analysis is crucial for understanding the market’s scope and identifying expansion opportunities.

Key Market Trends

Proceed to discuss recent market trends , such as the increasing demand for sustainable manufacturing processes, automation, and advanced materials. For example, highlight the demand for products that utilize eco-friendly materials or energy-efficient production techniques, alongside the rising popularity of smart manufacturing.

Key Competitors

Then, consider the competitive landscape, which includes a range of manufacturers from large-scale enterprises to niche firms. For example, emphasize what makes your business distinctive, whether it’s through advanced technology, superior product quality, or specialization in certain manufacturing niches. This section will help articulate the demand for your products, the competitive environment, and how your business is positioned to thrive within this dynamic market.

Make sure to cover here _ Industry size & growth _ Key competitors _ Key market trends

Dive deeper into Key competitors

First, conduct a SWOT analysis for your manufacturing business. Highlight Strengths such as advanced production technology and a skilled workforce. Address Weaknesses, including potential supply chain vulnerabilities or high production costs. Identify Opportunities like emerging markets for your products or potential for innovation in production processes. Consider Threats such as global competition or economic downturns that may impact demand for your products.

Marketing Plan

Next, develop a marketing strategy that outlines how to attract and retain customers through targeted advertising, trade shows, digital marketing, and strategic partnerships. Emphasize the importance of showcasing product quality and technological advantages to differentiate your business in the market.

Finally, create a detailed timeline that outlines critical milestones for your manufacturing business’s launch, marketing initiatives, customer acquisition, and expansion goals. Ensure the business progresses with clear direction and purpose, setting specific dates for achieving key operational and sales targets.

Make sure to cover here _ SWOT _ Marketing Plan _ Timeline

Dive deeper into SWOT

Dive deeper into Marketing Plan

The Management section focuses on the manufacturing business’s management and their direct roles in daily operations and strategic direction. This part is crucial for understanding who is responsible for making key decisions and driving the manufacturing business toward its financial and operational goals.

For your manufacturing business plan, list the core team members, their specific responsibilities, and how their expertise supports the business.

Financial Plan

The Financial Plan section is a comprehensive analysis of your financial projections for revenue, expenses, and profitability. It lays out your manufacturing business’s approach to securing funding, managing cash flow, and achieving breakeven.

This section typically includes detailed forecasts for the first 5 years of operation, highlighting expected revenue, operating costs and capital expenditures.

For your manufacturing business plan, provide a snapshot of your financial statement (profit and loss, balance sheet, cash flow statement), as well as your key assumptions (e.g. number of customers and prices, expenses, etc.).

Make sure to cover here _ Profit and Loss _ Cash Flow Statement _ Balance Sheet _ Use of Funds

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Minimizing Downtime With a Comprehensive Disaster Recovery Plan Checklist

Preparing for recovery starts long before a disaster occurs. Use this checklist to help plan ahead to minimize disruptions and downtime from any business disaster.

• Checklist Infographic

13-Step Disaster Recovery Plan Checklist

When a disaster strikes—whether it’s a crippling ransomware event or a destructive natural disaster—a smooth recovery process is critical to getting back on your feet. But that recovery doesn’t simply unfold as soon as the storm recedes. Rapid operational recovery starts with planning long before the disaster even occurs.

Before Hurricane Michael hit Panama City in 2018, Coca-Cola Bottling Company UNITED, Inc., thought they were thoroughly prepared for the storm and recovery. “We have a really extensive hurricane preparedness plan across all of our coastal locations,” explains Gianetta Jones, Vice President & Chief People Officer. But the Category 5 storm caused severe damage to cell phone infrastructure that the Coca-Cola team was not ready for. Gianetta told us on The Employee Safety Podcast , “We had to pivot and purchased several very expensive satellite phones for our operators that were local to be able to communicate with us at the corporate office.”

Flexibility is necessary in disaster recovery, as disasters hardly follow a predictable plan. But the right preparation can make it possible to adapt and maximize your time and resources through recovery. A comprehensive disaster recovery plan is not just a “good-to-have” safety net; it serves as a roadmap for resuming operations efficiently and effectively, minimizing the impact on your business and clients. And a great way to get started on your disaster recovery planning process (or to review and reassess your standing plan) is with a disaster recovery plan checklist.

Whether you’re facing natural calamities, cyberattacks, or technological failures, this checklist will guide you through establishing robust protocols to protect your assets, data, and your operational continuity.

Download Our Business Continuity Checklist

1. Assess the risks and impacts

Conduct a thorough risk assessment to identify potential disasters and emergencies and look for vulnerabilities. Then, perform a detailed business impact analysis to understand the potential impact of disasters on your business operations. These assessments will help you determine what disasters you must prepare for and what recovery might be necessary.

2. Coordinate with departments and identify stakeholders

Engage all internal departments to gather input and ensure comprehensive coverage. In particular, you’ll want to work with teams involved in emergency preparedness, IT, business continuity, security, and any other function that may be impacted by the event. Additionally, determine any stakeholders, internal and external, crucial to the recovery processes.

3. Review past emergencies

Analyze any previous incidents your organization has been through to learn from past emergencies and refine your current planning efforts. You can also look at organizations similar in size and industry to understand how they have experienced disasters.

4. Assemble the leadership team

The disaster recovery team members will be dedicated to managing the disaster recovery process, though not necessarily executing the entire disaster recovery plan themselves. They will serve as important leaders and decision-makers throughout the process.

5. Document systems and processes

Thoroughly record all critical business systems and processes. This might include software applications, physical items in your facility, digital systems, on-site and off-site resources, or processes vital to your operations. If it is something that a disaster might impact, it should be considered in this step.

Once you have your list, do the following for each item:

For example, when building an IT disaster recovery plan, you’ll want to document all your IT systems, identify the most critical pieces of IT infrastructure, and arrange for data backups, secondary data centers, and other data protection for any critical data that may be impacted.

6. Analyze your recovery needs

Perform a detailed recovery analysis for each type of disaster that could impact the business. Include the following steps in this analysis:

7. Set up your recovery plan templates

If you are using a disaster recovery plan template, you’ll want to make copies of the template pages to fill out. You want a tailored recovery plan for each type of disaster, so multiple versions of the template are a must.

8. Assign personnel

Identify and document all personnel who will be involved in each recovery and response plan. Write down their roles and responsibilities within the recovery efforts and contact information.

9. Establish the activation criteria

Set clear criteria for when to activate the disaster recovery plan. Clarify the turning point between disaster response procedures and disaster recovery, so you don’t hesitate in the event of a disaster.

10. Write the recovery plan

The previous disaster recovery checklist stages prepare you to document your plan. Detail the specific steps and strategies to recover from each disaster you may face.

11. List resources and related documents

Document all the resources required for the recovery plan and their locations. Include links or references to any related plans and supportive documentation. This might include your business continuity plan , risk assessments from earlier in the process, or documentation for a specific recovery strategy.

12. Develop a communication plan

Communication is critical to recovery, so ensure your plan includes a clear process for reaching your employees, stakeholders, and external resources. Design a comprehensive emergency communication plan detailing:

13. Evaluate your response

Don’t make the mistake of building out your disaster recovery plan and assuming it can stay the same year after year. Not only are the disaster scenarios you face likely to change, but your organization will also grow and change; what worked for recovery at one point won’t necessarily work weeks, months, or years later. Regularly test, evaluate, and update the disaster recovery plan to ensure it still meets your business needs over time.

Planning for Resilience Through Operational Failback

With the right plan in place, recovery doesn’t have to feel like a disaster in and of itself. Develop a comprehensive disaster recovery plan with this checklist to keep your whole team on the same page and align their efforts.

Unlike an IT system failback, to recover your business operations, you often need to build them back up one by one. Following all 13 steps, you can ensure you don’t miss a critical system in your DR plan, and you minimize the effort it takes to quickly and confidently return to normal operations.

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Three Details That Matter for a Successful Retirement

Many people skip over retirement planning specifics that could help them create a stronger plan that would better match their needs. Here’s how to not do that.

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Fictional crime fighter Jack Reacher doesn’t offer retirement advice (at least not to my knowledge), but one of his quotes does resonate with me: “In an investigation, details matter.”

The same can be said for retirement planning .

Unfortunately, too many people planning for retirement sidestep the details that could help them create a stronger plan that would better match their needs. Instead, they skip straight to the solutions, choosing investment options without taking the time to determine what is actually needed or taking into consideration all the individual circumstances that can come into play when deciding the best way to proceed.

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Maybe with this process, they will hit the mark. But just as likely — or more likely — they will miss it completely.

Imagine if a surgeon worked this way. Instead of studying your symptoms, checking your vital signs and running tests before deciding whether to operate, the surgeon just said, “Let’s go straight to cutting you open and see what we find.”

Personally, I would prefer a more detail-oriented surgeon.

For your retirement, you should be detail-oriented, as well.

Taking the right amount of risk

That means starting by looking at where you are today. What income and expenses do you have? What retirement savings have you already accumulated? How far out are you from retirement (five years? 10 years?), and what will your needs be when you get there?

There is also the matter of risk . How much risk do you want to take with your investments? How much risk can you really afford? And are you truly aware of how much risk you have in your portfolio right now?

When I work with clients, one of the first things I do is establish a risk score for them, which helps the client — and me — better understand where they fall in terms of risk tolerance and how that meshes with their current investments. People are often surprised to learn they are taking more risk than they realized.

Sometimes this is because they didn’t understand just how risky a particular investment was. But sometimes it is because they made investment decisions long ago and then didn’t revisit those decisions as time passed. That is somewhat common with 401(k) plans. People open their 401(k) account when they join a new employer, choose from a set list of investment options that the plan offers and then just let those choices ride.

If that scenario describes you, it might be worth taking a look at the details of the 401(k) option you chose years ago to see if it is still what you want and makes sense for your current retirement plans. Maybe it’s fine, especially if you chose a target-date fund that was tied to your age. But it’s important to know for certain in case an adjustment is warranted.

Delving into the details of your finances, your lifestyle and your expectations for retirement can also reveal inefficiencies. Not long ago, I had a client who, because of the way his finances were structured, was paying more than he needed to in taxes.

The discovery of that detail ended up reducing his tax bill and saving him money.

The big impact of small adjustments

Another detail people sometimes overlook is the way relatively minuscule changes can lead to big results.

We often look at financially successful people and erroneously conclude that their accomplishments (and wealth) happened quickly and dramatically, like the retirement planning version of a lottery winner.

It usually doesn’t occur that way.

Instead, the person probably built their wealth bit by bit by making decisions that didn’t provide enormous earnings in the short term but paid off over time. You can do the same with your retirement planning.

One of the best examples of this is contributions to your 401(k) plan. Many employers match your contributions up to a certain percentage point. I often find, though, that people fail to make sure they are contributing enough to receive the full company match.

The employer might match an employee contribution up to 5%, for example, but the person is contributing only 4% of their weekly pay. That extra 1% of free money seems insignificant — and more or less is if you think only in terms of one week or one month. But when you start talking about every paycheck over years or even decades, those dollars add up, especially when you also factor in any investment gains over that time.

Suddenly, that extra $20 or $30 a week (or whatever it might be) no longer seems so negligible.

A lack of estate planning

Another surprising financial planning detail people often overlook ( even wealthy and famous people ) is the importance of estate planning . They never take the time to create a will, a trust or anything that helps make sure their wishes are known for how their estate will be passed on to their heirs.

Howard Hughes, Pablo Picasso and Prince are a few examples of celebrities who died without a will , leaving others to puzzle out and argue over their wishes. In Prince’s case, it took six years of legal battles before his $300 million estate could be settled.

This is not something you want to leave to chance, the courts or feuding relatives. If you work on the details of your estate, not only can you ensure your money will go to the people or charities that you prefer, but you may also be able to improve the tax implications for your heirs.

Sadly, with retirement planning, it’s easy to overlook the details. That’s why it’s important to meet with a financial professional who also cares about the details and has the skill and knowledge to help you with them.

Because the details really do matter.

Just ask Jack Reacher.

Ronnie Blair contributed to this article.

The appearances in Kiplinger were obtained through a PR program. The columnist received assistance from a public relations firm in preparing this piece for submission to Kiplinger.com. Kiplinger was not compensated in any way.

Related Content

• The Five Stages of Retirement (and How to Skip Three of Them)
• Do You Have the Five Pillars of Retirement Planning in Place?
• Six Financial Actions to Take the Year Before Retirement
• Five Things I Wish I’d Known Before I Retired
• Retirees’ Anti-Bucket List: 10 Experiences You Don’t Want

This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA .

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Mark Gelbman is the owner and adviser at Strategic Wealth Solutions in Urbandale, Iowa, who has more than 20 years of experience helping clients achieve their financial planning goals. His certifications include the CFP®, CLU®, CRPC® and AAMS® designations. Gelbman believes that the key to achieving financial planning success is taking that first step and implementing incremental change rather than radical change.

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