ENTR 202 business plan

Business Plan Template for a Startup Business

A startup business plan serves several purposes. It can help convince investors or lenders to finance
your business. It can persuade partners or key employees to join your company. Most importantly, it
serves as a roadmap guiding the launch and growth of your new business.
Writing a business plan is an opportunity to carefully think through every step of starting your company
so you can prepare for success. This is your chance to discover any weaknesses in your business idea,
identify opportunities you may not have considered, and plan how you will deal with challenges that are
likely to arise. Be honest with yourself as you work through your business plan. Don’t gloss over potential
problems; instead, figure out solutions.
A good business plan is clear and concise. A person outside of your industry should be able to
understand it. Avoid overusing industry jargon or terminology.
Most of the time involved in writing your plan should be spent researching and thinking. Make sure to
document your research, including the sources of any information you include.
Avoid making unsubstantiated claims or sweeping statements. Investors, lenders and others reading
your plan will want to see realistic projections and expect your assumptions to be supported with facts.
This template includes instructions for each section of the business plan, followed by corresponding
fillable worksheet/s.
The last section in the instructions, “Refining Your Plan,” explains ways you may need to modify your
plan for specific purposes, such as getting a bank loan, or for specific industries, such as retail.
Proofread your completed plan (or have someone proofread it for you) to make sure it’s free of spelling
and grammatical errors and that all figures are accurate.