For example, do you plan to hire employees, open up a second restaurant or manufacturing plant, purchase new equipment and machinery to increase productivity, or go public and sell shares on a stock exchange?
Start from the very beginning understanding that your business plan ought to be specific to your business needs and objectives.
Others like to focus on the numbers first, so they start with a sales forecast or spending budget. A healthy business planning process will always involve circling back often to check results and revise as necessary.
Summarize the problem you are solving for customers, your solution, the target market, the founding team, and financial forecast highlights.
Be sure to include summaries of your managers’ backgrounds and experience—these should act like brief resumes—and describe their functions with the company.
Full-length resumes should be appended to the plan.
You may be able to articulate the business overview, vision, objectives, and concise action items in a single page, but you might want more detail in the financial and marketing sections.
For example, you might want to add an extra page to your pricing strategy section for income and cash flow statements and another for breakeven analysis in advertising and promotion.
Having a business plan is a must, whether your goal is to start a one-person freelancing business or a multi-million dollar enterprise.
However, if you are looking to start a simple product or service business as a sole proprietor or one-person corporation you don't need a 50-page business plan. A quick and easy one-page business plan templates can get you started.