Tasks, to-do lists, meetings, and more. Amidst that rush, the idea of writing a good business plan—much less following a business plan template—often feels time-consuming and intimidating. After all, when done right, business plans have enormous payoffs. And yet, more than 1 in 10 prospective business owners said they do not intend to write a business plan. Bplans worked with the University of Oregon to compile and analyze research around the benefits of business planning.
A business plan is a written description of your business's future , a document that tells what you plan to do and how you plan to do it. If you jot down a paragraph on the back of an envelope describing your business strategy , you've written a plan, or at least the germ of one. Business plans are inherently strategic. You start here, today, with certain resources and abilities. And you want to get to there, a point in the future usually three to five years out , at which time your business will have a different set of resources and abilities as well as greater profitability and increased assets. Your plan shows how you will get from here to there.
Many entrepreneurs spend hours preparing and writing their business plans but do not pay much attention to the cover page. This is a big mistake. The business plan cover page is an integral part of the business plan.
This is an example business plan for a start-up clothes business selling a collection of self-designed bags and will expand the product portfolio to apparel for female motorcyclists — the goal is to establish itself as a well-known brand for motorcycle clothing for fashion-conscious women by combining functionality protection and style. The founder is an experienced motorcyclist herself and understands the particular needs of female fellow motorcyclists. By currently working in sales and merchandising at Ducati Triumph she could gain insight the motorcycle industry.