A business plan template is a document that is very important when you are looking to start a business. This document outlines how you are going to make money, where you are going to spend it and why, and ultimately why you want to do it. The idea behind this document is to help someone else with their business plan and give them ideas for what it should be. Business plans are very important documents because they lay out a systematic plan for a business that can be used to attract investors, lenders and others that are looking to invest in your business. They also show what you plan to do in the future, so it is usually necessary for people to have them created before trying to open up an actual business.
A business plan template can be extremely useful for anyone who wants to come up with one. It gives you a clear outline of what you plan on doing, the purpose you have in mind and what you plan to do in the future. Each sub-section of the template is illustrated in the figure below and then described in more detail afterward. Some of the sub-sections have detailed descriptions below.
In addition, some business plan templates allow you to add in additional information that will be necessary for you to raise funds from investors or lenders. This can be anything from what your business plans to do in the future, the demographics of your target market, how much money you expect to raise and what you will do to get there. This could be anything from building websites to marketing to flyers and brochures. You can also include any business planning ideas you may have as well.
An important part of any business plan template is an executive summary. This is a short section at the end of the template that gives an overview of who you are and what the purpose of your business is. This section should be no more than two pages and can even be split into a few smaller sections here and there. This section will need to provide a brief description of you, your experience and background and your vision. It will also have a list of responsibilities and goals that you have for the company and each sub-section will need to indicate how it affects the others. A few examples of these sub-sections are the Market Research section and the Funding Sources.
The final part of a business plan template comes in the form of the financial modeling template. This is a section that takes an account of your costs and revenue projection as well as a description of your long term financial plans. This section should go over how you arrived at the costs and revenues outlined in your business plan and any projections you have for growth rates based on the costs and revenues you’ve projected.
While many small businesses never get off the ground because they are too afraid to approach investors or venture capitalists, some small businesses fall flat on their faces because they lack a solid and detailed marketing and fundraising plan. Many organizations use business plans templates as a foundation, but do not complete the final steps to secure financing. Often times, business plans do not receive pre-written funding requests from venture capitalists, which is why many organizations struggle to complete their plans and obtain the capital they need. For those organizations, complete a lean startup kit in order to increase the likelihood that your organization will get off the ground and remain viable during startup and lean startup phases. Remember, it’s easier to make your first sale than it is to raise enough capital to sustain it once it has been sold.