how to write a business plan ai

World's Best AI Business Plan Generator

Fill out simple forms, select language, and get a business plan in under 15 minutes. Try It Out!

Who is this for?

Entrepreneurs looking for investor funding.

Our AI business plan generator helps entrepreneurs in creating professional business plans designed to impress potential investors and secure funding

Business owners and entrepreneurs looking for a bank loan

Our AI business plan generator is SBA-approved and follows to most banks' business plan template.

For anyone looking to make a business plan

Whether you want an AI generated business plan for self-learning, as a reference for a project, or for submission to a non-financial institution, we've got you covered.

What customers say about us

Our ultimate goal is to make a product that you love, to do that we need feedback. So we try to talk to as many customers as we can

Mentioned In..

Language Support

At the end of the plan creation process you can choose to generate a plan in multiple languages including..

How it works?

Our AI business plan generator guides you through a few questions, once done a business plan example will be generated

Enter General Business Information

Only basic business information is required e.g. business name, number of employees, and a little financial data

Edit and Save

Once your AI plan is generated you can easily edit the plan with our "Talk To Plan" feature. You can input what you want changed and AI will take care of the rest

Key Benefits

Our ai draws business knowledge from the entire internet.

GPT-3.5 and GPT-4 are our cutting-edge language models, trained on vast quantities of internet, book-based resources, business plan examples, and has demonstrated its knowledge by passing the Wharton MBA exam among many others

The whole process can literally take 15 minutes

Gone are the days of laboring over business plans for weeks on end, our AI business plan generator can create a comprehensive plan in just 15 minutes.

Our AI generated business plan template won't let you down

create a professional business plan in just 15 minutes with our AI business plan generator

• AI for HR Teams
• BPMN Symbols
• BPMN vs UML
• Business Process Analysis
• Business Process Modeling
• Capacity Planning Guide
• Case Management Process
• How to Avoid Bottlenecks in Processes
• Innovation Management Process
• Project vs Process
• Solve Customer Problems
• Startup Templates
• Streamline Purchase Order Process
• What is BPMN
• Approval Process
• Employee Exit Process
• Iterative Process
• Process Documentation
• Process Improvement Ideas
• Risk Assessment Process
• Tiger Teams
• Work Instruction Templates
• Workflow Vs. Process
• Process Mapping
• Business Process Reengineering
• Meddic Sales Process
• SIPOC Diagram
• What is Business Process Management
• Process Mapping Software
• Business Analysis Tool
• Business Capability Map
• Decision Making Tools and Techniques
• Operating Model Canvas
• Mobile App Planning
• Product Development Guide
• Product Roadmap
• Timeline Diagrams
• Visualize User Flow
• Sequence Diagrams
• Flowchart Maker
• Online Class Diagram Tool
• Organizational Chart Maker
• Mind Map Maker
• Retro Software
• Agile Project Charter
• Critical Path Software
• Brainstorming Guide
• Brainstorming Tools
• Visual Tools for Brainstorming
• Brainstorming Content Ideas
• Brainstorming in Business
• Brainstorming Questions
• Brainstorming Rules
• Brainstorming Techniques
• Brainstorming Workshop
• Design Thinking and Brainstorming
• Divergent vs Convergent Thinking
• Group Brainstorming Strategies
• Group Creativity
• How to Make Virtual Brainstorming Fun and Effective
• Ideation Techniques
• Improving Brainstorming
• Marketing Brainstorming
• Rapid Brainstorming
• Reverse Brainstorming Challenges
• Reverse vs. Traditional Brainstorming
• What Comes After Brainstorming
• Flowchart Guide
• Spider Diagram Guide
• 5 Whys Template
• Assumption Grid Template
• Brainstorming Templates
• Brainwriting Template
• Innovation Techniques
• 50 Business Diagrams
• Business Model Canvas
• Change Control Process
• Change Management Process
• NOISE Analysis
• Profit & Loss Templates
• Scenario Planning
• Winning Brand Strategy
• Work Management Systems
• Developing Action Plans
• How to Write a Memo
• Improve Productivity & Efficiency
• Mastering Task Batching
• Monthly Budget Templates
• Top Down Vs. Bottom Up
• Weekly Schedule Templates
• Kaizen Principles
• Opportunity Mapping
• Strategic-Goals
• Strategy Mapping
• T Chart Guide
• Business Continuity Plan
• Developing Your MVP
• Incident Management
• Needs Assessment Process
• Product Development From Ideation to Launch
• Visualizing Competitive Landscape
• Communication Plan
• Graphic Organizer Creator
• Fault Tree Software
• Bowman's Strategy Clock Template
• Decision Matrix Template
• Communities of Practice
• Goal Setting for 2024
• Meeting Templates
• Meetings Participation
• Microsoft Teams Brainstorming
• Retrospective Guide
• Skip Level Meetings
• Visual Documentation Guide
• Weekly Meetings
• Affinity Diagrams
• Business Plan Presentation
• Post-Mortem Meetings
• Team Building Activities
• WBS Templates
• Online Whiteboard Tool
• Communications Plan Template
• Idea Board Online
• Meeting Minutes Template
• Genograms in Social Work Practice
• How to Conduct a Genogram Interview
• How to Make a Genogram
• Genogram Questions
• Genograms in Client Counseling
• Understanding Ecomaps
• Visual Research Data Analysis Methods
• House of Quality Template
• Customer Problem Statement Template
• Competitive Analysis Template
• Creating Operations Manual
• Knowledge Base
• Folder Structure Diagram
• Online Checklist Maker
• Lean Canvas Template
• Instructional Design Examples
• Genogram Maker
• Work From Home Guide
• Strategic Planning
• Employee Engagement Action Plan
• Huddle Board
• One-on-One Meeting Template
• Story Map Graphic Organizers
• Introduction to Your Workspace
• Managing Workspaces and Folders
• Adding Text
• Collaborative Content Management
• Creating and Editing Tables
• Adding Notes
• Introduction to Diagramming
• Using Shapes
• Using Freehand Tool
• Adding Images to the Canvas
• Accessing the Contextual Toolbar
• Using Connectors
• Working with Tables
• Working with Templates
• Working with Frames
• Using Notes
• Access Controls
• Exporting a Workspace
• Real-Time Collaboration
• Notifications
• Meet Creately VIZ
• Unleashing the Power of Collaborative Brainstorming
• Uncovering the potential of Retros for all teams
• Collaborative Apps in Microsoft Teams
• Hiring a Great Fit for Your Team
• Project Management Made Easy
• Cross-Corporate Information Radiators
• Creately 4.0 - Product Walkthrough
• What's New

Harnessing the Power of AI: A Comprehensive Guide to Crafting a Dynamic Business Plan

If you have ever tried to write one, you know just how challenging crafting a business plan can be. There’s a lot of foresight, strategic thinking, and meticulous attention to detail involved. You have to understand what people want, figure out how to fund it, and explain your big ideas clearly. Entrepreneurs have to do all this while dealing with the everyday chaos of running a business.

To this end, one of the most useful applications of AI has been its ability to be your thinking- assistant- adding structure to your thoughts- and creating frameworks to help you navigate through complex problems.

• Ready to use
• Fully customizable template
• Get Started in seconds

Why Use AI to Write Your Business Plan?

The arrival of artificial intelligence has revolutionized how you gather and put together information. AI’s predictive analytics and data-driven insights help businesses make more informed decisions, often leading to a significant competitive edge. Here are some of the competitive advantages of integrating AI into business planning processes:

• Enhanced accuracy in market analysis and financial projections.
• Real-time adaptation to market changes and customer behavior.
• Personalized strategies that align closely with company goals and customer needs.

By leveraging AI, businesses can visualize their business plan in new ways Now data can be used as a strategic asset that drives growth and innovation. Writing a business plan is no longer just about a document to present to investors; it’s about creating a dynamic blueprint that evolves with your business and the market.

Use AI as your thinking Assistant

The ability to automate complex processes, gain insights from big data, and enhance decision-making can help the way you think about designing your business. This includes streamling operations, predicting customer behavior, and personalizing marketing efforts.

The ability to collect, process, and analyze vast amounts of information is what makes AI so powerful in business planning.

A robust business plan typically includes components such as market analysis, financial projections, and marketing strategies. AI can optimize each aspect of a business plan:

• Market Analysis : AI tools can analyze market trends and customer feedback, offering a more nuanced understanding of the competitive landscape.
• Financial Projections : Machine learning algorithms can provide more accurate revenue forecasts by analyzing past performance and market conditions.
• Marketing Strategies : AI can personalize customer interactions and optimize marketing campaigns for better engagement and conversion rates.
• Decoding Customer Behavior: AI algorithms are adept at analyzing customer interactions and feedback across various platforms. By processing this data, businesses can gain a nuanced understanding of customer preferences and tailor their offerings accordingly.
• Predictive Market Trends: AI doesn’t just analyze the present; it’s also predictive. By examining historical data and current market conditions, AI can forecast future market shifts, giving businesses a strategic advantage in planning their next move.
• Real-time Market Insights: With AI, market analysis is not a one-time report but a continuous stream of insights. This allows companies to adapt quickly to changing market dynamics and maintain a competitive edge.

Using AI to Develop Your Business Plan (With Prompts)

Your Executive Summary : Begin with an AI-generated executive summary that encapsulates the financial health and projections of your business. You can use specific AI tools to analyze historical data and generate a concise summary that highlights key financial metrics and future goals. A useful prompt to help you do this:

• Write a very detailed executive summary for a [insert your company type] that is requesting funding. Here is some context to get you started: {Succinctly summarize the key elements of your business} {List 5 business objectives} { 3 unique selling points}

Company Description : Utilize AI to provide a data-backed company valuation and financial history. This can include automated calculations of burn rate, cash flow, and other vital financial statistics that give stakeholders a clear picture of your company’s fiscal standing.

• Write a very detailed mission statement for a [insert business] that values [insert values] and offers [insert products and/or services]
• Write a very detailed business description for a [ insert business name] that sells [insert products and/or services]. The company values [insert values].
• Write a very detailed product description for (insert products and/or services) that highlights [insert features to highlight]

Market Analysis : Deploy AI algorithms to analyze the market size, growth rates, and trends. This will help you to forecast demand and price points, which are essential for accurate financial planning.

• Write a very detailed market analysis for a [insert business type].
• Create a target audience for a [insert business type] who wants to target [insert who you want to target. Include their age, race, gender, likes, dislikes etc]
• What are the top 3 market trends for the [insert industry] and why are they trending?

Competitive Analysis : AI can help you perform a deep dive into competitors' financial strategies. By analyzing public financial reports and market data, AI can uncover insights into pricing strategies, market share, and financial strengths or weaknesses of your competitors.

• Write a very detailed competitive analysis for a [insert company] who’s advantage is [insert your advantage over the market]
• Find 3 competitors for a [insert business type] and explain their competitive advantage.
• Write a unique selling proposition for a [insert product or service type] that is [insert unique selling proposition].

Sales and Marketing Plan : Predictive analytics can forecast the ROI of different marketing strategies, helping you to allocate your budget effectively. AI can also optimize your sales funnel by predicting customer lifetime value and churn rates.

• Write a very detailed sales and marketing plan for a [insert business type] that offers [insert products and/or services]
• Write a very detailed growth strategy for a [insert business type] that offers [insert products and/or services]

Ownership and Management Plan : AI can assist in modeling different ownership structures and their financial implications, as well as predict the financial impact of management decisions.

• Write a very detailed Ownership Structure for a [insert business type] that has [include the ownership roles that you have in your company]
• Write a very detailed Management Plan for a [insert business type] that has [include the roles that you have in your company]

Operating Plan : Use AI to simulate various operational scenarios and their costs. This includes everything from supply chain optimization to energy consumption and staffing requirements.

• Write a very detailed Operating Plan for a [insert business type] that operates [include where you operate your business ex: online, storefront etc]
• Write a very detailed risk management assessment for a [insert business type] that operates [include where you operate your business ex: online, storefront etc]

Financial Plan : This is where AI truly shines. Machine learning models can provide detailed revenue forecasts, expense projections, and cash flow analysis. They can also help in stress-testing your financial plan against various economic scenarios to ensure resilience.

• Create a detailed year sales forecast for a [Insert business type] with an average growth rate of [XX% per year and an average order value of $XX]
• Create a break-even analysis for a [insert business type] with an average order value of SIXXI. The Total cost per unit is $[XX]. The yearly combined fixed and variable costs is[XXX]
• Write a very detailed funding request section of a business plan for a [insert business type] that is requesting [XX] for [insert what you need the funding for]

Develop A Robust Business Plan with Creately VIZ

Use the AI-powered visual intelligence of Creately VIZ to develop strategic business plans. The AI templates help you generate, expand, organize and transform all the information you require to put together a complete business plan. You can use Creately VIZ as your strategic partner - taking advantage of visual frameworks to build out winning strategies.

Business Model Canvas: The Business Model Canvas is a strategic planning tool, that condenses a comprehensive business plan into a one-page visual. Comprising nine key building blocks, it offers a holistic view of a business, from customer segments and value propositions to revenue streams and cost structures.

Strategic Blueprint: A strategic blueprint is a detailed, overarching plan that outlines an organization’s long-term goals and the actions needed to achieve them. It serves as a guiding document for decision-making and resource allocation. Typically encompassing mission statements, objectives, and tactics, a strategic blueprint provides a roadmap for navigating challenges and leveraging opportunities. It considers internal and external factors, aligning organizational strengths with market demands.

Capability Mapping: A business capability map is a visual representation that outlines the core competencies and capabilities of an organization. It provides a comprehensive view of the skills, processes, technologies, and resources required to achieve business objectives. Like a strategic blueprint, a capability map guides decision-making but focuses on the specific abilities needed for successful operations. It often categorizes capabilities into key domains, such as operational, strategic, and customer-related. This map serves as a strategic planning tool, aligning business activities with organizational goals.

AI transforms a static business plan into a dynamic blueprint that evolves with your business and the market. The competitive advantages it offers, from enhanced accuracy in market analysis to real-time adaptation and personalized strategies, underscore the transformative power of AI. As you embark on crafting your business plan, consider leveraging AI as your thinking assistant, ensuring your strategies align with evolving market dynamics. With AI, the journey from plan to success becomes a continuous and adaptive process.

Join over thousands of organizations that use Creately to brainstorm, plan, analyze, and execute their projects successfully.

More Related Articles

Chiraag George is a communication specialist here at Creately. He is a marketing junkie that is fascinated by how brands occupy consumer mind space. A lover of all things tech, he writes a lot about the intersection of technology, branding and culture at large.

Upmetrics AI Assistant: Simplifying Business Planning through AI-Powered Insights. Learn How

Entrepreneurs & Small Business

Accelerators & Incubators

Business Consultants & Advisors

Educators & Business Schools

Students & Scholars

AI Business Plan Generator

Financial Forecasting

AI Assistance

Ai pitch deck generator

Strategic Planning

See How Upmetrics Works  →

• Sample Plans
• WHY UPMETRICS?

Customers Success Stories

Business Plan Course

Small Business Tools

Strategic Canvas Templates

E-books, Guides & More

Create your business plan in minutes with our AI Assistant

Answer few tailored questions about your business, and get a business plan in under 10 minutes. Its as simple as that.

How it works?

Our AI business plan generator guides you through simple questions to quickly draft your business plan.

Kickstart Your Plan

Enter basic business details.

Begin by providing essential information like your company name and a short description. 

Shape Your Strategy

Answer targeted questions.

You will be guided through tailored questions to understand your business goals and model.

Perfect Your Plan

Ai-assisted refinement.

Review and refine your business plan with our AI assistant. let AI fine-tune the details.

You will be guided in the same way as a business coach

Upmetrics acts as your business coach, offering tailored guidance throughout your business planning journey

Navigate Your Plan with Our Step-By-Step Instructions

Upmetrics offers straightforward, step-by-step guidance for every aspect of your business plan. With our AI assistant, get clear instructions, practical examples, and a tailored guide for every stage of planning.

Leverage our extensive collection of over 400+ sample business plans for inspiration, and directly chat with our support for personalized assistance.

Ask anything to our AI Business Coach

Our AI Co-pilot is your on-demand research assistant and business advisor. Ask any question—our tool gets into your plan or conducts research to provide insightful answers.

 Powered by our cutting-edge language model, it boasts a depth of knowledge trained on vast quantities of internet, book-based resources, and business plan examples. With Upmetrics, harness AI that understands the breadth of business planning and beyond.

Writing will never become a problem for you

Upmetrics asks targeted questions to build your business plan. Our AI streamlines the process, providing expert-level guidance and suggestions at every step.

Let our AI Business Plan Assistant transform your ideas into polished, professional sections, enhancing your content’s tone, style, and correctness.

Get a head start with 400+ real business plan examples

Why start with a blank page? When you have access to the 400+ real business plan examples. If crafting your first business plan seems daunting, let our real-world examples illuminate the path to success.

Embark confidently on your entrepreneurial journey – a standout business plan is just a template away with Upmetrics.

Create a plan and build your dream business

Leverage the full power of the al business plan generator, al-powered business plan to save time, an affordable alternative to business plan writers, set yourself up for success, the thing that we appreciated the most is we were able to communicate with the support team on some key elements, and they were very very accommodating in all respects..

Co-Founder & Owner at Carefree Home Watch

Every sections you need to plan for your business.

Frequently Asked Questions

How does the ai business plan generator work, can i customize the business plan created by ai, is the upmetrics suitable for my industry, what makes upmetrics different from free templates or other tools for creating business plans.

Upmetrics redefines the business planning process by providing more than just software or a static template. It guides entrepreneurs through every phase of creating a business plan with interactive tools, tailored advice, and AI assistance eliminating the need for cumbersome spreadsheets and manual chart creation.

As your business grows, Upmetrics helps you monitor progress and set actionable tasks ensuring your strategy stays competitive. Experience unparalleled support and user-friendly guidance, making Upmetrics a superior choice for entrepreneurs crafting their business plans.

Does Upmetrics allow me to try it before signing up?

Certainly! Discover the full capabilities of Upmetrics with a free tour —no sign-up required. Get a firsthand look at how our AI enhances your planning process.

Finish your business plan faster with AI Business Plan Generator

No Risk – Cancel at Any Time – 15 Day Money Back Guarantee

Popular Templates

Everything that you need to know to start your own business. From business ideas to researching the competition.

Practical and real-world advice on how to run your business — from managing employees to keeping the books.

Our best expert advice on how to grow your business — from attracting new customers to keeping existing customers happy and having the capital to do it.

Entrepreneurs and industry leaders share their best advice on how to take your company to the next level.

• Business Ideas
• Human Resources
• Business Financing
• Growth Studio
• Ask the Board

Looking for your local chamber?

Interested in partnering with us?

Start » startup, how to use ai tools to write a business plan.

These tools use artificial intelligence to generate full business plans you can take to investors.

Writing a business plan is an important, if arduous, task. Most investors and financial institutions will ask to see your business plan before providing startup capital. But, for many entrepreneurs, putting pen to paper to detail your idea can be burdensome.

AI tools can speed up the process of writing a business plan by providing the framework and initial content. However, you’ll need to go through the plan in detail to make sure it accurately reflects the financial modeling, mission and vision, and other elements that you’re starting to put into motion. Consider any business plan generated by these AI tools as a starting point from which to finesse your plan to perfection.

[Read more: Writing a Business Plan? Here’s How to Do It, Step by Step ]

ProAI is built to generate custom business plans that include financial projections, market research, and a SWOT analysis. These detailed plans can be edited in the app or exported to Google Docs and Sheets for further editing. Simply answer some questions about your business information and goals; AI will create a custom plan with financials. The report can be ready in a few days, depending on the depth and level of customization required — something you determine when you go through the initial process. ProAI can also provide pitch decks and business funding. Pricing for ProAI starts at $199/month.

[Read more: 4 Effective Ways Small Businesses Can Leverage AI ]

Simplified offers a unique AI generator for small businesses. Like ProAI, you simply enter your small business details and objectives, or work off one of their existing templates (such as for a gym, food truck, or real estate service). Simplified’s artificial intelligence can generate market analysis, financial projections, and a clear value proposition for your plan. It can be edited within the tool. The best part? Simplified is free up to 2,000 words.

LivePlan Assistant is the company’s AI writing tool that can help you create a business plan. With this option, you can select one of LivePlan’s business plan templates and get help filling in each section from the Assistant. LivePlan’s database of 550 free sample business plans gives you a good starting point. The Assistant’s “Help Me Write” function will then generate ideas for each section of your plan according to the information you give it. It includes financial forecasting functionality, too. Pricing for LivePlan starts at $20/month.

WriteCream develops generic business plans that can be customized to fit your vision.

Upmetrics ’ AI Assistant can autowrite sections of your business plan, adjust the tone of your content to be more persuasive or professional, and reformat sections to make the plan flow. Unlike other tools on this list, Upmetrics also offers well-designed cover pages so you can make your document stand out. The platform lets you collaborate with different users on the same document so you can stay organized and coordinate better. And, instead of using a set template, Upmetrics has a drag-and-drop builder so you can determine what sections you want to include. Upmetrics starts at $7/month.

IdeaMaster.io

IdeaMaster uses ChatGPT-3 to create fairly basic business plans; if you’re looking for a short two-pager to share with investors before fully developing your concept, this is a good starting point. Simply tell IdeaMaster your industry and product type to get started. Plans include the basics, such as market size, MVP features, value proposition, sales and marketing channels, and key resources, among other things. Best of all, IdeaMaster is free.

WriteCream develops generic business plans that can be customized to fit your vision. It’s less sophisticated than other tools on this list, and it can be used as a blank canvas if you have a great idea but no time (or patience) to write a full business plan. It doesn’t come with the bells and whistles of other tools, but it is affordable: WriteCream is free-to-use for up to 10,000 words per month.

CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.

CO—is committed to helping you start, run and grow your small business. Learn more about the benefits of small business membership in the U.S. Chamber of Commerce, here .

Join us for our Small Business Day event!

Join us at our next event on Wednesday, May 1, at 12:00 p.m., where we’ll be kicking off Small Business Month alongside business experts and entrepreneurs. Register to attend in person at our Washington, D.C., headquarters, or join us virtually!

Subscribe to our newsletter, Midnight Oil

Expert business advice, news, and trends, delivered weekly

By signing up you agree to the CO— Privacy Policy. You can opt out anytime.

For more startup tips

Micro-business vs. startup: what’s the difference, micro businesses: what are they and how do you start one.

By continuing on our website, you agree to our use of cookies for statistical and personalisation purposes. Know More

Welcome to CO—

Designed for business owners, CO— is a site that connects like minds and delivers actionable insights for next-level growth.

U.S. Chamber of Commerce 1615 H Street, NW Washington, DC 20062

Social links

Looking for local chamber, stay in touch.

• Website Examples
• Website Builder Comparisons
• WooCommerce
• HTTP Errors
• WordPress Errors

12 AI Business Plan Generators to Start Any Business in 2024

15MinutePlan

Wordkraft ai, beautiful ai.

• Brixx Plan Software

Useful ChatGPT prompts for writing a business plan

Tips for using chatgpt to create a business plan, how to make sure the ai-generated business plan is good enough.

Hello! My name is Arto Minasyan, I’m the Founder and CEO here at 10Web, and a Co-Founder at Krisp. I’ve earned a PhD in Mathematics, in addition to a BA and Master’s in Physics, as well as an MBA. I am a serial entrepreneur, and I know that crafting a business plan can seem like a daunting task. 

However, whether you are launching a new business or seeking growth for your current venture, it’s vital to communicate your vision in a thorough business plan.

That’s why I’m excited to share this list of AI business plan generators alongside a few personal tips that I think will inspire you and aid you in creating a well-structured and detailed business plan.

12 AI business planners to help you start your business fast

Generate and refine an executive summary.

Free Plan Paid plan: From 12$ / month

Key features

• AI-generated, customizable business plans.
• AI-assisted enhancing and editing.
• Efficient process with only 4 questions.

Grammarly’s AI Business Plan Generator is a tool designed to assist aspiring entrepreneurs in creating an Executive Summary for their business plans. This tool is a part of Grammarly.com’s suite of AI-assisted writing and proofreading tools. It’s specifically tailored to generate business plans suitable for various types of businesses, leveraging Grammarly’s expertise in enhancing writing quality through AI-driven suggestions.

The AI Business Plan Generator operates in a straightforward and user-friendly manner. Users start by answering a few questions describing their business, including marketing and financial details and competitor information. With only 4 questions to answer, the more detail you can provide, the better the generated results will be for your business plan.

Once Grammarly generates the business plan, you can use its familiar tools to adjust the text for formality, tone, and length, in addition to the usual suggestions for grammatical improvements. The generated draft includes sections with customized, more fully developed plans that reflect your original responses, allowing you to focus more on refining ideas and less on the intricacies of writing.

Detailed AI-generated business plans.

Free to try Paid plan: From 99$

• Quick, AI-generated plans.
• ChatGPT 4 available.
• Detailed business plans.
• Editable via "Talk To Plan".

15minuteplan.ai is an AI-powered tool designed to create professional business plans quickly and efficiently.  While it aims to help anyone who needs a business plan, with its ability to personalize financial statements and plans, it might be of particular interest to those seeking investor or bank funding.

This AI business plan generator relies on GPT-3.5 and GPT-4 to draw upon a vast array of deep sources, significantly reducing the time and effort traditionally required to create a business plan.

As described, the process of creating a business plan with 15minuteplan.ai takes about – you guessed it – 15 minutes. Users begin by answering seven critical questions that cover the business plan’s purpose, descriptions of products or services, target customer groups, drivers of success, weaknesses, budget and spending plans, and financial details. The handy AI-assisted suggestions can really speed up this Q & A part of the process. 

Based on these responses, the tool generates a detailed business plan encompassing various elements such as an executive summary, industry overview, SWOT analysis, marketing strategies, segmentation, targeting, positioning (STP), product strategy, operations plan, management roles, financial projections, and risk mitigation strategies. 

While access to the full business plan requires signing up, 15minuteplan.ai offers a substantial preview of the generated business plan to get an idea of what’s included. Additionally, the platform features a unique “Talk To Plan” option, allowing users to easily edit their AI-generated plans by specifying the changes they want, which the AI then integrates effortlessly. This system streamlines the entire process of business plan generation, making it more accessible and less time-consuming.

AI-enhanced business plan templates.

Free plan Paid plan: From 20$ / month

• AI-assisted template interface.
• Customizable business plan sections.
• AI generated content options.
• Flexible tone and style settings.

As the name suggests, Copy AI is an AI writing assistant leveraging AI’s power and natural language processing. Copy AI allows you to write almost anything, from optimized blog content to digital ad copies, eCommerce copies, sales copies, social media content, and more. 

You can also use Copy AI as an AI business plan generator for almost any kind of business by logging in and selecting from a range of premade templates available online .  

Once you have selected a business plan template, you’ll be prompted to fill in the following details: 

• Your business name 
• A description of the problem your business solves
• A description of how your business will solve that problem
• The target market description
• Revenue model description

Besides providing you with a variety of business templates,  Copy AI allows you to customize details such as the tone of your content and more. 

AI-assisted business plan writing.

Free plan Paid plan: From 29$ / month

• Utilizes GPT-3.5 for content generation.
• Customizable business plans available.
• AI-assisted editing for refinement.

WordKraft is an AI-powered web application for generating optimized, authentic and high-quality content for various needs, such as marketing, blogs, and social media. Like many AI tools, Wordkraft runs on the powerful large language model GPT-3.5. 

You can also use Wordkraft’s free business plan template to generate a draft . Using the Wordkraft template, you’ll be asked to enter details about your business to guide the AI tool when generating the business plan.

Some details you’ll have to provide include an introduction of the business, the benefits, how the business solves the problem, the market for this product or service, and how to reach the target audience and make business.

Wordkraft is an excellent AI business plan generator for entrepreneurs looking for an easy-to-use interface and access to advanced features such as language and tone of voice options. This AI business planner generator also allows you to select the level of creativity that you need.

Generate presentations based on text prompts.

No Free plan available. Paid plan: From 12$ / month

• Professional slides, powered by AI.
• Design prompts for presentations.
• AI-generated content tools.
• Smart, auto-created templates.

Beautiful AI is a generative ai presentation software that enables businesses to create stunning presentations with minimal effort. With Beautiful AI you can access modern and creatively designed templates that you can use to jumpstart your presentations.

Luckily, Beautiful AI prowess extends as a business plans presentation and AI business plan generator.  Using Beautiful AI, you can create elegant business plans and presentations by selecting from a collection of quality templates. 

Beautiful AI gives you access to 100+ templates. You also don’t need any design skills to create a beautiful presentation or a business plan.

AI tool collection for documents & media.

• AI tools for documents, graphics, media.
• Enter plan details to generate.
• Suitable for diverse business types.

Simplified is a collection of AI-powered tools that can help individuals or businesses of any size easily accomplish some tasks. Some of the tools offered by Simplified AI include an AI presentation maker, image generator , AI writer, AI content rewriter, image resizer, and more.

Among the many AI capabilities of Simplified is also an AI business plan generator. Using Simplified, small businesses can generate a business plan using the templates provided. These templates already contain the outline and structure of how the business plan should look. All you have to do is select the desired tone and the output language.

Alternatively, you can open Simplified AI Writer and start on a blank canvas. However, you must give context and instructions on the business plan you want to generate.

Simplified has many built-in tools , such as Grammarly and graphic design , video editing, and image generation capabilities. Leverage these tools to create stunning customizable design templates, photo, video, and graphic assets for your business plan and other business needs.

AI-assisted note-taking and templates.

Free plan Paid plan: From 10$ / month

• Especially helpful for Notion users
• AI integrated note-taking system.
• Customize business plan templates with AI.

Notion AI is a productivity and workspace application capable of doing so many functions. You can use Notion as a project management app for note-taking and docs management, setup team spaces, and so much more. 

While Notion is not specifically designed as an AI business planner, it includes features that can help accomplish so much in that area. Notion AI can help you design quality, interactive, and shareable business plans using templates. You do not have to start from scratch while designing your business plan.

If you have a team, Notion makes this even better. Your team members can collaborate and contribute ideas seamlessly. You can also leave feedback and integrate many useful tools such as Google Docs, Trello, and Slack. 

AI apps for different purposes.

• Collection of easy-to-use AI tools.
• Minimal interface, powerful tools.

Cookup AI is a database of AI tools that you can use to achieve different tasks. Designed with non-technical users in mind, Cookup AI enables users to filter through the thousands of AI tools available and find exactly what they are looking for instead of navigating from site to site.

Among the collection of AI tools by Cookup AI is an AI business plan generator. Cookup AI business plan software is designed with a minimal interface allowing users to generate comprehensive business plans that outline their business goals, strategies, and objectives.

Remember to provide enough context and information about your business in a descriptive way to enable the  Cookup AI business plan generator to get the details of your business plan right. 

Using Cookup AI, your business can save a lot of time and effort as it is straightforward. However, you should work closely with your team members to ensure the business plan accurately reflects your business visions and goals.

Collaborative Business Plan Development.

Free plan Paid plan: From 8$ / month

• Cloud-based collaborative documents.
• Real-time collaboration, editing, sharing.
• Embeds multimedia in business plans.
• Free and premium template options.

Bit AI is a cloud-based collaboration platform that allows multiple teams within organizations spread around the globe to collaborate and organize and manage documents all in one place . Some of the documents that you can manage include wikis, knowledge bases, projects, client deliverables, technical docs, training guides, and client portals.

Using a set of prebuilt templates , you can also use Bit AI to create a modern business plan for your new business venture. Apart from access to high-quality business plan templates, using Bit AI  allows you to collaborate in real-time, create responsive and private documents, interlink business plan documents, and track engagements on the document.

Using Bit AI, you can also make your business plan more engaging by embedding web links, lucid charts, draw.io, Figma, Youtube, Vimeo, Airtable, Google Sheets, and more.

Bit AI has a free business plan template to get you started. You can also access over 65 smart slide templates to help you with your design.

AI platform designed specifically for business plans.

No Free plan available Paid plan: From 20$ / month

• Collection of tools for business plans
• Pro plan review & guidance available.
• Quick start for many business categories.
• AI LivePlan assistant.

LivePlan is a business planning software with a set of different features to help you set up your business and tools to support you every step of the way. LivePlan is an automated business plan creation software that works for any type of business at any stage. 

LivePlan breaks the business plan-building process into simple steps that are easy to follow. Its templates also conform to the usual business plan structure but can be customized as you deem fit. 

LivePlan is an excellent AI business planner due to its large collection of templates and customizability. Remember to take advantage of its financial forecasting and performance tracking features.

The leading AI-based chatbot.

Free plan Paid plan: 20$ / month

• Communicates in human-like language.
• Summarizes intricate subjects.
• Useful for composing, researching, inventing.
• Integrated with Microsoft Bing.

ChatGPT is a revolutionary chatbot powered by machine learning and natural language processing that can replicate human-like conversations. But can ChatGPT write a business plan? 

The short answer is yes, ChatGPT writes a business plan. Although ChatGPT is not specifically designed as an AI business plan software, through a series of prompts with information about your business, it is a great tool for brainstorming, researching, and creating a business plan draft . 

While ChatGPT can generate huge amounts of text, it is wrong to expect it to generate the whole business plan immediately. To use ChatgGPT effectively when generating your business plan, you should understand the various parts of your business plan. Once you understand these sections, you can ask ChatGPT to draft content and guidelines for each section.

Alternatively, you can ask ChatGPT to generate an outline for your business plan. Based on this outline, you can instruct it to draft each part based on your provided information. More on this later.

Brixx Planning Software

Financial forecasting and planning.

Free plan Paid plan: From 13$ / month

• In-depth financial forecasting.
• Suitable for various business sizes.
• Real-time collaboration and scenario testing.
• Combine with ChatGPT for best results.

Brixx software is a f inancial forecast software for cash flow, budgeting, and business planning. 

Apart from that, Brixx is also a business planning software that businesses can use to create a formal business plan that outlines the goals and objectives of their business and a roadmap to achieve them. If you’re curious about AI financial planning for business plans, then Brixx AI business planner might just be the tool you need. 

With Brixx, entrepreneurs can communicate their business goals to stakeholders or share funding requirements with potential investors. If you already have a business running, you can use Brixx to monitor and forecast your business’s financial well-being to ensure it remains on track.

Finally, Brixx software can be integrated with AI tools like ChatGPT to create powerful AI business plan software. You can create a more comprehensive and accurate business plan using this combination.

How to write a business plan with ChatGPT: tips and prompts

Related Article

70+ creative chatgpt prompts to innovate your marketing plan.

• 22 AI Websites for Productivity, Creativity, and Fun

To begin with,  you need to generate an outline for your business plan. ChatGPT can help generate one by running a simple prompt with context about your business.  

1. Generating a business plan outline

Prompt : Generate a business plan outline for a  business selling “X services/products” to other small and medium businesses. 

Using this prompt, we have generated a well-structured business plan outline. The outline contains some of the most important topics you should address in your such as the following:

• Executive Summary
• Company Description
• Market Analysis
• Services and Pricing
• Sales and Marketing Strategy
• Operations and Management
•  Financial Plan

With ChatGPT, you can now generate a draft of each section above. Be keen to provide content in each section to allow ChatGPT to generate content with more precision.

2. Generating executive summary

Prompt : Create a brief overview of the executive summary of “Business X“ and its mission statement.

Other prompts you can use include:

• Discuss the target market and how “business X“ plans to meet their needs.
• Highlight the company’s unique selling proposition (USP) and competitive advantage in the “ X industry”.

3. Performing a market analysis

Prompt :  Write and market research section for my “x” business plan. Please identify the “X” services’ target market. Remember to identify any market trends or changes that may affect the demand for “X” services and estimate the market size and growth potential for the “X” industry.

4. Competition analysis

Prompt: Generate a competition analysis for my business that offer “X” services. Identify competitor strengths and weaknesses.

5. Generating a sales and marketing strategy

Prompt: Generate a sales and marketing strategy for my “X  business”. Include sales tactics, strategies for closing deals, and customer retention strategies.

6. Operations and management

Prompt : Discuss the details of operations for my business plan, such as “X” infrastructure and technology to use, service level agreements, and customer support policies and procedures.

7. Generating a financial plan

Prompt: Generate revenue and sales forecasts, cost structure, and expense projections. Include a break-even analysis and profitability forecasts, funding requirements, and potential funding sources.

8. Conclusion

Prompt: Generate a conclusion to recap the business plan and a call to action for potential investors and customers.

In the section above, we discussed some ChatGPT prompts you can use to brainstorm or generate a draft of a business plan. While most of the outputs sound convincingly accurate and well structured, cross-check every detail and customize the plan accordingly.

ChatGPT is a great tool for business owners and individuals researching and drafting a business outline.  Here are some tips to help you get the most out of ChatGPT when generating your business outline: 

• Be as descriptive as possible when describing your business ideas and goals to help ChatGPT understand your business better. 
• Use keywords relevant to your business to help ChatGPT understand the content of your business.
• Provide detailed information about your competition, products and services, financial projects, and target marketing. Feeding ChatGPT with generic prompts will only generate generalized suggestions that may not be actionable.
• Use ChatGPT as a tool: While ChatGPT is a valuable tool for researching new ideas, it should never be a replacement for human ideas and intuition. Always rely on human expertise and experience when making key decisions. 
• Review, and fact-check :  ChatGPT, and other similar tools are prone to “hallucinations”.  Solely relying on these tools can potentially mislead you. 
• Use up-to-date data sources: Remember that ChatGPT relies on the knowledge it was fed during training. Some of this information could be outdated at the time of writing. It is important to check whether the data and statistics used by ChatGPT are still relevant. 

Most businesses use a business plan to outline the company’s strategies, objectives, and goals. Others use it as a proposal to attract investors on board, identify opportunities, and plan resources. Regardless of your motivation, the quality of your business plan will always impact the results.

In this section, we explore how you can always ensure that your AI-generated business plan effectively communicates your business’s vision. Make sure to also check out these 5 profitable business ideas to capitalize on the AI hype.

1. Edit and review the business plan

While AI business plan generators can save you lots of resources in terms of time and cost, they are also prone to inaccuracies. A thorough review of the plan you have generated allows you to ensure that the business plan you have generated aligns with your business strategy. Through a review, you can also evaluate whether the AI-generated business plan addresses key issues such as market analysis, competition, and financial projections.

2. Make sure it is actionable

A business plan that only gives an overview of the company’s goals, objectives, and financial and market standpoints is not good enough. A better business plan also highlights small, measurable, achievable, realistic, and time-bound ( SMART ) goals with a clear roadmap on how your business can achieve them.

Image source

3. Ensure only credible data sources are used

The accuracy, quality, and credibility of the data sources you use when putting together your business plan directly affect the quality and reliability of your business plan. With the advancement of AI in market research , it has become easier than ever to analyze huge amounts of data. However, it is important that you check whether the sources are credible.

4. Seek expert advice

The advent of AI-powered generative tools has made it easy to create almost anything. However, this does not overrule the importance of seeking the services of an expert. An expert in your business domain can help you discover some mistakes in your business plan that may not be apparent to you. 

5. Make sure it is clear and readable

Just like any other document, a business plan has an audience. Using technical jargon to impress your audience may not be effective in all cases. Therefore is important that you evaluate your AI-generated business plan and ensure that it is written in plain simple language . You may also want to include graphs and visual aids to boost understanding of content and convey important messages.

6. Customize your AI-generated business plan

AI-generated business plans form a good starting point when drafting your business plan. However, AI business plan generators should in no way be a substitute for your intuition and judgment. Every business has unique challenges and needs, it is important that you adapt any AI-generated business plan to fit your needs before using it.

Related Articles

• New Website Planning: The Absolute Necessary Steps, Tools, and Ideas
• 5 Must-Try AI Logo Generators to Get Your Logo Designed in Minutes
• How to Create a Website for Your Small Business Fast With AI?

AI business plan generators and other AI tools have undoubtedly made it easy for entrepreneurs to bootstrap a business quickly and efficiently. After creating a business plan, it is also important that you establish an online presence through a website. AI website builders such as 10Web AI Website Builder can help you with this.  10Web AI Website Builder leverages AI to automatically generate a website with unique content and images tailored to your business needs. All you have to do is answer questions about your company, such as the company name, type, description, and services you provide. A website allows you to create an audience, and establish credibility while also displaying your products and services. 

Get a head start on website creation with AI

Create a custom website tailored to your business needs 10X faster with 10Web AI Website Builder!

How much of the business planning can I trust to AI?

How much should I know about my business idea to start planning it?

How to make a quick website for my new business?

34 AI Marketing Tools to Scale Your Business in 2024

AI marketing tools are essential for enhancing marketing and business operations. With many options available, choosing the right one can be challenging. This article highlights 34 AI marketing tools for 2024, including general marketing, content creation, SEO, sales and PR outreach, email marketing, social and influencer marketing, advertising, and video generation. Best AI marketing tools summary table General Marketing Content Creation…

22 Revolutionary AI Websites You Need to Try in 2024

In this article, we’ve compiled a list of 22 groundbreaking AI websites for 2024, each designed to elevate efficiency, revolutionize how we approach tasks and improve the quality of our daily routines. Best AI websites summary table   Work & Business Productivity & AI Assistants Art, Music, & Graphics Fun AI websites ChatGPT Landbot MidJourney Replika 10Web MightyGPT DALL-E Talk…

17 AI Tools for Ecommerce to Grow Your Business in 2024

In the fiercely competitive world of ecommerce, staying ahead of the curve is paramount. As the online landscape continues to evolve, the adoption of AI tools for ecommerce can be a game-changer for many online store owners.  Why is it crucial? These tools empower businesses to decipher customer behavior, personalize experiences, streamline operations, and bolster security, among other benefits.  In…

As technology evolves, businesses have had to rely heavily on technology to elevate their marketing efforts and set themselves apart from the competition. In the recent past, one technology, in particular, has been in nearly every discussion and news headline since its launch in late 2022: ChatGPT.  ChatGPT is a revolutionary chatbot powered by machine learning and natural language processing…

AI for Small Businesses: 19 Ways to Scale Up Using Artificial Intelligence

 No doubt, the application of Artificial Intelligence (AI) in different industries has been exponential in the last two decades. From software development to marketing to content creation, the potential of Artificial Intelligence is rapidly unfolding. Similarly, AI for small businesses surfaced on the scene. In contrast to conventional methods, AI-powered technology can analyze large amounts of data and churn…

AI in SEO: How Does AI Affect SEO and How to Catch Up With It?

 From the time of Google’s updates to its search algorithm for developing a more user-centric ranking system, the involvement of Artificial Intelligence in the Search Engine Optimization (SEO) space has been on the rise. Before AI, Google primarily considered the occurrence of specific keywords to rank content. The more keywords on your page, the higher the rank on Search…

Top 15 AI Voice Generators of 2024 [+ Free Tool Inside]

10 shocking chatgpt plugins in 2023, 8 most accurate and reliable ai content detectors in 2023, leave a comment cancel reply.

Your email address will not be published. Required fields are marked *

Your email address will never be published or shared. Required fields are marked *

Email address *

Save my name, email, and website in this browser for the next time I comment.

This is a great article, it helped me to understand how to use AI and what is the human rol when doing it. Thank you.

I’m trying to create a business plan to attract investment for a food truck company, please what free AI software do you think is best for me?

Hi Moyin, most of the tools listed in the article have a free plan available. So what I would suggest is trying 3-4 of them to see which one meets your specific needs the best.

I am starting a small wellness and health business from scratch needed help to create a plan to present to apply for a grant the computer said my email is already linked to ai but I cant log in

Hi Michiel, what tool are you trying to use?

AI Business Plan Generator

Create comprehensive business plans with ai.

• Create a startup business plan: Develop a comprehensive business plan for your new startup, covering all key aspects of your business.
• Plan for business expansion: Generate a business plan that outlines your strategy for expanding your existing business into new markets or product lines.
• Prepare for investor meetings: Create a detailed business plan to share with potential investors, showcasing your business's potential and strategy for success.
• Develop a product launch plan: Craft a business plan for launching a new product, detailing your marketing strategy, financial projections, and more.

New & Trending Tools

Seasonal date planner, notes to blog post, botany assistant.

How To Write A Business Plan With AI in 2023

Writing a business plan can be a daunting task for many, but with the advent of AI tools like Bizway and ChatGPT, the process has become much more streamlined. These AI-powered tools not only help with the writing process but also assist with research and market analysis, making it easier to create a comprehensive and effective business plan.

In this article, we will discuss the SBA-approved format for a business plan and offer tips on how to make the most of AI tools when writing your business plan.

How To Write A Business Plan (SBA-Approved Format)

The U.S. Small Business Administration (SBA) recommends the following format for a business plan:

Executive Summary

Company description, market analysis, organization and management, service or product line, marketing and sales, funding request, financial projections.

Let's delve into how AI tools like Bizway and ChatGPT can assist in each of these sections.

The executive summary provides a brief overview of your business. It should be concise yet compelling enough to spark the interest of potential investors.

• Use Bizway's AI assistant to generate an engaging and concise summary of your business idea. The AI can suggest different ways to present your business idea effectively.
• ChatGPT can help in refining your language and making your executive summary more persuasive.

This section provides detailed information about your business, including the problems your product or service solves.

• Use Bizway's AI assistant to help you articulate your business's mission, vision, and values clearly.
• ChatGPT can help you write a compelling story about your business's inception and growth.

This section requires thorough research about your industry and competitors.

• Bizway's AI-powered research app can help you gather and analyze data about your market and competitors.
• ChatGPT can assist in writing a detailed analysis report based on the data gathered.

This section details your business's organizational structure and the team behind it.

• Use Bizway's AI assistant to create an organizational chart and write detailed descriptions of your team members.
• ChatGPT can help in writing compelling bios for your team members.

This section describes your product or service and the benefits it offers to customers.

• Bizway's AI assistant can help you outline the features and benefits of your product or service in a clear and compelling manner.
• ChatGPT can assist in writing product descriptions that highlight the unique selling points.

This section outlines your marketing and sales strategy.

• Bizway's AI assistant can help you develop a comprehensive marketing and sales strategy based on industry trends and competitor analysis.
• ChatGPT can assist in writing a detailed marketing plan, including tactics for social media, content marketing, and SEO.

If you're seeking funding, this section details how much you're seeking and how it will be used.

• Bizway's AI assistant can help you calculate the funding required and create a detailed plan for its use.
• ChatGPT can assist in writing a compelling funding request that highlights the potential return on investment for investors.

This section provides a forecast of your business's financial health.

• Bizway's AI assistant can help you draft financial projections, as well as detailing checklists to cover when making your projections.
• ChatGPT can assist in writing a narrative that explains the financial projections in layman's terms.

This section includes any additional supporting documents.

• Bizway's AI assistant can help you organize and list the documents in the appendix.
• ChatGPT can assist in writing a brief description of each document in the appendix.

AI-powered tools like Bizway and ChatGPT are revolutionizing the way we write business plans. With their help, you can create a comprehensive and compelling business plan that can attract investors and set your business up for success.

Gerrard + Bizway AI Assistant

Start automating your business growth, today⚡

Create your first AI assistant & project in minutes.⚡

Bizway is brought to you by Landmark Labs Ltd.

©2024 Bizway Labs

• Search Search Please fill out this field.

Benefits of Using AI in Business Planning

Ai tools and platforms for writing business plans.

• AI in Business Planning
• Ethical Considerations
• Future Trends

The Bottom Line

How to use ai in business planning.

AI can boost efficiency and accuracy in inventory planning, logistics, data analysis, forecasting, writing business plans, and more

Artificial intelligence (AI) can be used across many aspects of business planning, improving the accuracy and efficiency of processes like inventory planning, logistics, financial and sales analysis and forecasting, and project management. Entrepreneurs looking to launch a new business can also use AI to their advantage in writing a business plan.

However, the specific roles and applications of AI in business planning can vary depending on the nature and requirements of the business or industry.

Key Takeaways

• AI can significantly improve the accuracy and efficiency of data analysis for business planning and help identify new sales and business growth opportunities.
• Incorporating AI in business planning can improve forecasting by offering predictive capabilities.
• Automation of repetitive tasks and processes, such as pulling data for analysis, is another benefit of using AI in business planning.
• Ethical considerations such as potential biases in AI algorithms, as well as technical limitations with AI algorithms, must be addressed in any AI-driven business planning.

Business leaders looking to use artificial intelligence for business planning can benefit from the insights and efficiencies it provides . Here are some of the ways in which businesses can use AI for different business planning applications.

Improved Accuracy and Efficiency of Data Analysis

As many machine learning algorithms are designed to recognize patterns and process a large quantity of data in relatively little time, they can spot trends and offer insights that might not otherwise be evident. This can help in analyzing and deriving insights from large volumes of customer, order, financial, or other business-related information.

Enhanced Forecasting and Predictive Capabilities

Also referred to as predictive analytics , the ability of AI to make inferences about future outcomes using existing data can be a huge asset across many different business areas. For example, the food service company Sysco uses AI for inventory management as well as warehouse and delivery logistics planning. Another impactful business application for predictive AI models is financial and inventory planning.

Automation of Repetitive Tasks and Processes

Any business planning workflow that currently includes a manual, rote, or repetitive task might be a good candidate for automation using AI. Examples might include pulling data into a spreadsheet for analysis, generating or formatting data, processing documents or information, or requesting approvals.

Identification of New Business Opportunities

AI can help identify new growth strategies and opportunities in marketing and sales. Using AI-enabled customer relationship management (CRM) software can offer insights on lead generation, upsell or cross-sell opportunities, and customer service strategies. It can also provide businesses with the data to better personalize their offerings and target different segments of their customer base.

Many generative AI tools and software platforms are available to assist entrepreneurs with the task of writing a business plan. Here is a list of popular AI-based business plan generators.

Although not a dedicated business plan generator, ChatGPT is one of the most well-known and accessible generative AI tools. Users can prompt ChatGPT to quickly generate ideas, draft outlines or sections, and edit or make text suggestions.

However, any information that ChatGPT provides on things like market research may not be up to date or reliable. Any data and references should be double-checked to ensure both factual and contextual accuracy, and the writing should be reviewed to ensure it aligns with the writer’s desired tone of voice.

Although a free version is available, a paid subscription to ChatGPT Plus costs $20 per month.

Notion is an AI-enabled workspace and project management tool. Although it can be used for more than just generating a business plan, Notion offers both free and paid AI-supported business plan templates.

As an AI-powered productivity tool, Notion can help users quickly generate text as well as automate workflows and tasks. This makes it a useful option for those who wish to use it for individual and team project execution as well as planning.

However, for those who simply wish to generate a business plan, the platform may present a bit of a learning curve and require an investment of time to understand how to use it properly.

Notion has a free plan, but its paid plans start at $8 per month.

ProAI is an AI platform specifically tailored to business planning, research, and strategy solutions. It has dedicated tools for generating business plans, financial models, and pitch decks, as well as an AI business advisor that users can consult. It can also guide users in raising capital, including suggesting investors, funding amounts, and approaches.

Users input their business information and goals and link their social media, analytics, accounting software, and other data to the program, and it learns and adapts accordingly. As such, ProAI is a good tool for those looking for accuracy and assistance with financial projections.

However, compared to other tools, ProAI can take considerable time to generate a business plan (up to several days, depending on the depth and level of customization required). There are also potential privacy concerns associated with the sensitivity of data being shared.

ProAI is one of the more expensive AI business plan generators on the market, with plans starting at $199 per month.

Simplified is another workflow and productivity tool, with a suite of AI-powered programs to help users create all kinds of content, manage social media channels, and more. Their AI writing tool can offer suggestions and includes templates for specific types of business plans, from food trucks to real estate services.

Simplified’s business plan generator is geared toward solo entrepreneurs, small businesses, and startups. As it is easy to learn how to use, it is a good option for those who don’t want to invest significant time in understanding a new software. It can also generate different types of content, integrate with other platforms, and allow multiple users to collaborate, making it a useful tool for project management and execution.

However, the tool as a whole is not specifically designed for business planning, so it can be limited in terms of data analysis and industry-specific details.

Up to 2,000 words can be generated for free; after that, paid plans start at $11 per month.

As a dedicated business planning tool, Upmetrics promises to simplify business planning with its AI-powered insights. It includes an AI assistant, a business plan builder with over 400 customizable sample plans, and a pitch deck creator. It also offers financial forecasting and templates to suit different business models.

Upmetrics can both generate and edit text, and users can adjust the tone of the content as well. It also offers users the ability to collaborate on documents, design cover pages, and drag and drop sections into the template.

Potential downsides might include privacy concerns around sharing financial and other business data, as well as relatively limited template options and customization options.

Upmetrics plans start at $7 per month.

AI can be used for business planning at many different stages, starting from when the initial vision for the business is being created. Here’s how to incorporate AI into your business planning.

• Write a business plan with an AI business plan generator . Whether you use one of the generators mentioned above or one of the many other tools available online, AI-enabled writing programs can provide anything from a draft outline to a comprehensive document to work from. Don’t rely entirely on AI for a finished product, however; it’s important to review and check your business plan for things like accuracy, tone, and flow.
• Use AI-powered automation to improve your business operations . To optimize the day-to-day operating processes of your business, pinpoint any workflows that include manual, rote, or repetitive tasks, such as note taking, data entry, or transcription. Then seek out AI automation tools to save time, make the tasks more efficient, and reduce errors.
• Analyze your business data with AI . As your business starts to generate data, whether from leads, orders, sales, customer interactions, social media, or finances, AI can be helpful in capturing and analyzing it. In turn, this data can provide crucial information for making decisions about the future of the business in terms of both offerings and growth opportunities.
• Capture insights with AI to forecast, plan, and set goals . Predictive AI models can be a huge asset in business planning, helping entrepreneurs draw conclusions about future states of business based on historical and current data. While this has obvious applications for business financials, it can also be useful for consumer trend forecasting, customer service, and logistics and inventory planning.

Ethical Considerations in AI-Driven Business Planning

As with any AI application, using AI for business planning is not without ethical concerns.

It’s important to be transparent about the use of AI to both stakeholders and customers in order to maintain relationships of trust and accountability. It’s good practice to make it clear to customers when they are interacting with AI, as with an AI chatbot or a piece of writing generated by AI, for example.

It’s also important to communicate with stakeholders, employees, and decision makers about the reasons for choosing to implement AI in the business and how it will be used, monitored, and maintained so that the appropriate policies and oversight are put in place.

Understanding and communicating how any AI model is programmed and why is also an important accountability and ethics consideration. Many AI models have been shown to reproduce patterns of bias and discriminatory behavior when it comes to gender, race, and other aspects of identity. For example, fintech software algorithms have been shown to replicate historical behaviors of discrimination against marginalized and racialized individuals because those algorithms learn from historical datasets.

Future Trends of AI in Business Planning

As AI models improve and their applications become more mainstream, expect to see AI becoming a feature in all kinds of programs, from financial software to go-to office productivity suites. This will offer both easily accessible information and automation.

Businesses will be able to create ever more personalized offerings for their customers, thanks to AI integrations in CRM software that can draw insights from large volumes of customer data.

AI tools are also changing the competitive landscape of business and entrepreneurship by making previously specialized creative and technical skills like writing, designing, and coding more accessible.

Companies that nimbly adopt and develop strategies to use AI may unlock a significant advantage, though soft skills and a human touch remain as important as ever. A 2023 survey by software company Redpoint Global found that although 73% of consumers believe there to be a positive potential for AI in customer experience, 77% of consumers believe that positive customer experiences still require human interaction.

Can I Use ChatGPT to Write a Business Plan?

Among other types of content, ChatGPT can help users quickly generate a business plan by providing ideas, drafts, outlines, or suggestions. However, it’s advisable to review and validate any information that it provides to ensure it’s up to date and accurate.

Are There Free AI Tools for Writing Business Plans?

Many free generative AI tools, like ChatGPT, can assist in writing business plans. Notion and Simplified are examples that include business plan templates for specific types of businesses.

What AI Tools Can Be Used for Business Strategy?

Upmetrics and ProAI are two dedicated business planning AI tools that can provide research, strategy, financial forecasting, and presentation templates.

AI can contribute to better efficiency in business processes, identify opportunities for growth, and provide insights by analyzing large volumes of data, making it a great asset to business planning. However, it’s worth taking a step back before implementing any AI tool in business planning to assess where and how AI can have the most impact.

Just like any other digital tool or technology, AI should be used to complement and bolster existing and future workflows, and should be implemented with an eye to both strategy and accountability.

U.S. Government Accountability Office. “ Artificial Intelligence’s Use and Rapid Growth Highlight Its Possibilities and Perils .”

Google Cloud. “ What Is Predictive Analytics? ”

Massachusetts Institute of Technology, MIT Sloan School of Management. “ Incorporating Generative AI into Your Company’s Technology Strategy .”

CO— by U.S. Chamber of Commerce. “ AI and CRM: Combining Two Powerful Technologies to Grow Your Small Business .”

OpenAI Help Center. “ What Is ChatGPT Plus? ”

Notion AI. “ Product Page .”

ProAI. “ Homepage .”

CO— by U.S. Chamber of Commerce. “ How to Use AI Tools to Write a Business Plan .”

ProAI. “ Pricing Page .”

Simplified. “ Generate a Business Plan for Small Business .”

Simplified. “ Homepage .”

Upmetrics. “ Homepage .”

TrustRadius. “ Upmetrics .”

CNBC. “ A.I. Has a Discrimination Problem. In Banking, the Consequences Can Be Severe .”

Harvard Business Review. “ Building Transparency into AI Projects .”

Massachusetts Institute of Technology, MIT Sloan School of Management. “ How Generative AI Is Changing Entrepreneurship .”

U.S. Small Business Administration. “ These Small Business Trends Look to Shape 2024 .”

Redpoint Global. “ 73% of Consumers Believe AI Can Have a Positive Impact on Their Customer Experience .”

• Terms of Service
• Editorial Policy
• Privacy Policy
• Your Privacy Choices

How to Use AI to Write a Winning Business Plan

Table of contents

Catherine Miller

Are you a new business owner looking to get your ideas off the ground? Or growing and scaling an existing company? Writing a thorough business plan is a crucial part of business success, whichever stage you’re at. 

Your business plan will help you define your business objectives and map out the key stages to achieve these. But it will also be an important document to share with investors and other stakeholders who can shape the company’s future. For such purposes, it needs to persuade them that your vision is sound — and, most importantly, that you can carry it out. 

Writing such a plan might feel intimidating. However, with the rise of artificial intelligence (AI) tools, help is at hand. Writing assistants like Wordtune offers support in a range of ways we’ll be exploring in this article, making the process easier and quicker, and leaving you more time for turning your business idea into a successful reality. 

In this article, we’ll walk you through the step-by-step process of writing your business plan, and see how AI can have a big impact. 

Download the business plan template >

Write a business plan: step by step

Let’s explore how to write a business plan by breaking it down into manageable chunks. A traditional business plan needs to cover not just the details of your product, but also your company’s finances, business structure, market potential, and future projections. 

As you cover each stage, make sure you consider how an external audience will view it. Each section should make a clear case for investing in, partnering with, or building a relationship with your company. 

Below are some suggested sections for your plan, although you may need to tweak these to suit your particular business model.

Free AI business plan generator > Free AI business plan generator >

1. Write an executive summary

It’s cheating slightly to put the executive summary first on the list here. Although it usually appears at the start of a business plan, it needs to be the last thing you write. That’s because it summarizes the rest of the plan, providing a snapshot of the key points and hooking in the reader. It should be as concise as possible, covering (amongst other things):

• Your overall business concept (usually the problem you are trying to solve)
• Your vision (what impact you want to make on your target audience or within your field)
• A brief product description
• Market opportunities, including target customers
• Current and projected finances
• What you’re looking for from investors

Wordtune’s Read function can quickly summarize any text, so it’s perfect for generating your executive summary. Just upload your business description covering the bullet points above and ask Wordune to summarize it! It’s a simple process that takes moments. Because the AI technology understands what it’s reading, it can produce a highly comprehensible summary.

2. Describe your company

The company description should help your readers understand your business’s purpose/mission, core values, and overall structure. This section will be important in engaging your readers and creating rapport. So, while keeping it concise, you should try to create a compelling sense of your company’s personality.

This can include discussing the history and foundation of the company, your mission statement, an overview of your management team, your main products, and how you’ll be serving your target market. Giving a brief sense of your advantages over potential competitors can also be important here, too. If it’s relevant, you could briefly summarize your organizational hierarchy and legal structure.

Because word choice can be crucial in putting across your meaning, using Wordtune to generate and review different wordings of the same phrases can be useful. When you paste your text into Wordtune, you can ask it to “rewrite” a sentence, which generates a few options for you to choose from. You can review these yourself or present a few options to colleagues to see which lands most effectively.

Additionally, you can use Wordtune to adjust the tone of your company description, switching from more to less formal. This might be useful if your brand voice is particularly casual and friendly, for example, or more formal and authoritative. Using a clear tone in your company description can help your stakeholders tune into your brand identity and start to build a relationship with you.

3. State your business goals

You should express your business goals clearly and precisely. Using the SMART goal framework can be helpful here. This means that you should ensure your goals are:

• Specific — e.g., “reach 5 million people” rather than just “improve many lives.”
• Measurable — using numerical figures that you can actually check, e.g., number or value of sales.
• Achievable — rather than “change the world,” goals should be specific, e.g., “get 100,000 people saving more into their pension.”
• Relevant — they should align with your business mission.
• Time-bound — e.g., “we will be in 3 million homes by 2026.” This is especially important for financial goals, which should have clear time limits.

You might also want to include both short and long-term goals (i.e. what you want to achieve in the next six months vs six years). Sequencing these in order of priority and completion can form a useful road map for both you and stakeholders to refer back to.

Again, Wordtune can help here. The tool can shorten any sentence, making it more concise. This can help you express your goals as clearly as possible.

4. Describe your products and services

This part of the business plan is hopefully going to get the stakeholder to really connect with what your business offers, so it needs to make an impact! You should highlight here the unique features of your product or service and show how it delivers value. 

You could think about covering the following to achieve this:

• Product overview : in a few sentences, encapsulate what you are offering. 
• Pain points : show how your target customer is suffering and how each feature of your product will address this. 
• Product market fit : demonstrate that there is a genuine need for this product in the market, and that there are potential customers who will buy it!
• Competitive advantage : show that you understand the competitive field and how your product stands out in comparison.
• Development stage : if your product is still in development, describe where you’ve got to and what’s coming next. If you’re in the process of applying for patents, certifications, or other intellectual property protection, mention this here for a sense of credibility.
• Future development : give a hint of where your product could go next. 
• Pricing and revenue : briefly lay out how much the product costs and summarize your pricing strategy. This is particularly important for appealing to investors, who’ll want to get a good sense of the financials. 
• Logistics and operations : if you have physical products, describe how you’ll order, store, and transport these. You may want to touch on your suppliers and how you have chosen them, alongside any risks to the supply chain.

Wordtune’s ability to shorten sentences or paragraphs could help you keep these sections concise. You could also use the rewrite function to make sure each sentence is crafted to make an impact. 

5. Do your market research

Although you’ll have briefly mentioned the wider market in the previous sections, here’s where you can go into detail and really persuade your reader of your product’s potential. 

You could start by identifying your ideal customer. Are you looking to serve parents, business owners, teenagers, or drivers? You might even identify new market segments that are currently underserved.

Research should show what problems your target customers are facing, ideally backing this up with facts and figures. For example, if we know that a high percentage of people find it stressful to arrange childcare, it stands to reason that a product or service that makes it easier could do very well amongst parents. 

Market analysis should also cover what other products and services are out there, so you can set your offering against these. For example, are there any other companies doing something similar? How are you different? Or, if this is a totally new product, how will it fit onto shelves? How will you raise awareness of something innovative?

Wordtune Read could help here. Upload existing reports and research papers to produce quick summaries you can read in moments — saving you vital time. You can also direct Read to summarize according to certain topics or keywords, so if you have research papers that aren’t totally and directly related to your subject, you can just summarize the relevant parts. For example, you might want to focus your summary on “women” or “health problems.” Wordtune will digest the text for you and produce a short summary that focuses on your chosen topic.

Free AI report summarizer > Free AI report summarizer >

6. Outline your marketing and sales plan

Your stakeholders will want to understand that you can sell your product. That includes being clear about your marketing strategy.This should draw on your market research described in previous sections, showing how you will appeal to each target customer. 

This could be the place to go into further detail about your target customer, developing an ideal customer profile as the backdrop to your marketing strategy. Your customer profile should identify key demographic details like age, gender, location, habits, needs, and what other products they’re buying. This can shape your marketing messages and help you work out which channels might be most effective to reach potential customers. 

You could also:

• Set out your core marketing message , including which features of your product you’ll focus on.
• Define your marketing objectives , keeping them SMART. For example, generating 100 leads by the end of the first year, or becoming the most-recognized name in your niche within five years. 
• Outline your marketing plan . This should include the main channels you want to use, such as emails, blogs, social media, physical media, or search engine optimization (SEO). 
• Identify your core messaging . You could integrate AI tools into this part of the plan — Wordtune could support with A/B testing your messaging, for example, as it can help you generate different versions of your copy, which you can then try out.
• Plan out any promotions, discounts, or other tools like countdowns to increase a sense of urgency and reciprocity in your prospects
• Define your marketing budget so it’s clear exactly how much you will spend and on which channels.
• Lay out how you will review and evaluate your marketing performance , including your Key Performance Indicators (KPIs). 

If you have a separate sales track (i.e., you are not a Direct to Consumer business but need sales reps to close deals), you should also lay out your sales strategy. This should plan for short (initial) and long-term (repeat) sales. Will you be running discovery calls, where customers can simply find out more about your service? How many sales meetings will there be on the customer journey? How will you manage customer relationships and complaints?

7. Perform a business financial analysis

The financial analysis should give your stakeholders confidence that this is going to be a functioning and hopefully profitable business. A solid business plan will leave no doubt of return on investment (ROI). 

You should refer to key financial statements here, which you can attach or include as an appendix. These can include your balance sheet, income statement, and cash flow statement. Although you’ll be attaching the actual financial documents, your plan should clearly set out the main points so your readers don’t need to then read every single attachment in detail if they don’t have time. Using charts and graphs can help them grasp the key points of this section more easily.

Addressing potential risks is also important here. If your business fails, can you meet your financial obligations? You need to show you can cover anything that will need to be repaid (e.g. loans, customer contracts, or stock costs) if you go out of business. 

8. Make financial projections

You should also show how your financial plan will develop in the future in the form of a financial forecast. This should cover the different aspects of your business and how they might look over the next year, five years, or even 10 years. Including, say, a sales forecast can give your potential investors confidence in your company’s financial potential. This needs to be realistic, but you can be ambitious — show the best case scenario to highlight the future ROI.

9. Add additional information to an appendix

The appendix should contain any additional documents that might be useful to give more detail and context. This could include:

• Financial documents like statements and projections
• More in-depth market research (reports, demographic data, examples of competitor products)
• Legal documents and contracts (e.g., signed contracts for stock production)
• Product documents like manuals, patents, or prototype testing reports
• Marketing collateral like brochures or videos
• Organizational structure charts showing how your teams will be organized and managed, and which personnel you need to accomplish your goals
• Additional charts or graphs to illustrate key points in your plan

Make sure you label and number the appendix, and include a contents page so readers can find what they need.

Business plan tips and resources

Approaching your business plan can feel daunting, but it doesn’t have to be if you break it down into manageable chunks. Here are some further tips to help you craft an effective business plan.

Do your research: Luckily, there’s lots of information out there on how to write a business plan. Spend some time researching the topic before you begin (you could even use Wordtune Read to summarize the advice to make this process quicker). Sites like the Small Business Administration (SBA) have lots of helpful tips.

There are also lots of example plans available online (for example, from Hubspot here ), or you might be able to get some from your network. Check out what others have done and notice what makes them compelling. 

Balance optimism with realism: Providing wildly overblown projections might feel exciting, but it can make your readers lose trust in you. The Harvard Business Review suggests that you need to think carefully about the costs your business faces, and make sure these are factored into your plan. Additionally, remember that many businesses fall short of their projections in the early phases — investors will factor this into their offers, but you should also think about your contingency plans. 

Define the exit strategy: The best business strategies plot out the growth of the company to its culmination. Do you want to sell to a bigger player, and is that a realistic opportunity? Will you float on the stock market at some point, allowing investors to sell their shares for a profit? You need to show how your stakeholders can make money — a tangible benefit is always persuasive. 

Proofread: Your plan should be free of spelling, grammar, or punctuation errors. Otherwise, it might seem sloppy and readers could lose trust. 

Running your work through Wordtune can highlight any mistakes, and you can also use the tool to suggest rewrites to make your explanations and descriptions more fluent. 

Your business plan is your chance to put together all your hard work and show the world your brilliant ideas. Make sure you do your research and draw together all the evidence that’s going to prove you have an exciting, profitable business proposition that investors will be jumping on!

Constructing a detailed plan can take time, so it’s important to find the tools and resources to help you get this done. Using AI writing software like Wordtune is one way you can make sure the writing in your business plan really sings, so you make the biggest impact possible. 

Share This Article:

Preparing for Graduate School: 8 Tips to Know

How to Master Concise Writing: 9 Tips to Write Clear and Crisp Content

Title Case vs. Sentence Case: How to Capitalize Your Titles

Looking for fresh content, thank you your submission has been received.

The Architect’s Approach: Crafting a Business Plan for Lasting Impact

Identifying Customer Pain Points: The Key to Tailored Business Solutions

10 Businesses to Start for Under $1,000 in 2024

How to Write a Business Plan: A Step-by-Step Guide

Creating a business plan is essential for any entrepreneur looking to succeed. This step-by-step guide will help you craft a comprehensive business plan that outlines your business goals, strategies, and financial forecasts. Plus, see how Plannit AI can streamline this process for you.

1. Draft Your Executive Summary

The executive summary serves as the cornerstone of your business plan, offering a concise overview of your company's essence and strategic direction. It encapsulates vital aspects of your plan, providing a snapshot of your business's vision, objectives, and value proposition. Given its pivotal role as the first point of contact for potential investors and stakeholders, crafting a compelling and succinct summary is essential to garnering interest and support for your venture.

How to Write It:

Clarity and Conciseness: Strive for clarity and brevity in articulating your business's core elements. Begin with a clear and compelling mission statement that succinctly defines your business's purpose and values.

Key Components: Summarize essential aspects of your business, including its unique solution to a problem, target market demographics, competitive advantages, and future growth prospects. Highlight key financial metrics, such as projected revenue and funding requirements, to provide investors with a snapshot of your business's financial viability.

Compelling Narrative: Craft a narrative that captivates readers and compels them to delve deeper into your business plan. Emphasize the market opportunity your business addresses, its competitive positioning, and the value it delivers to customers.

Importance:

The executive summary serves as a vital tool for engaging investors, lenders, and other stakeholders, offering a concise yet comprehensive overview of your business's potential and value proposition. It sets the stage for the rest of your business plan, providing readers with a roadmap to navigate the detailed insights and analyses presented in subsequent sections. A well-crafted executive summary not only captures attention but also instills confidence in your business's ability to succeed, laying the foundation for fruitful partnerships and investments.

2. Detail Your Company Overview

In the Company Overview section, delve into the core of your business, offering a comprehensive understanding of its essence. This foundational segment sets the stage for your entire plan, elucidating the "who," "what," and "why" of your enterprise.

Essential Details: Begin with fundamental information such as your business name, location, the problem it addresses, and your innovative solution.

Historical Context: Narrate the inception of your business, sharing pivotal moments and milestones that shaped its journey.

Mission and Vision: Articulate your business’s mission and vision statements with clarity and conviction. These statements encapsulate your company's values and long-term aspirations.

Legal Framework: Define your business’s legal structure, whether it's an Sole Proprietorship, LLC, C Corp, or another entity, and elucidate ownership particulars.

The Company Overview serves as the cornerstone of your business plan, providing readers with crucial insights into your business's identity and purpose. By clearly articulating your mission, vision, and legal structure, this section sets the foundation for understanding your business's trajectory and strategic objectives.

3. Outline Your Products and Services

This section details the offerings of your business, focusing on the products or services you provide. It's where you explain what you sell or the service you offer, how it works, and why it's necessary.

Describe Your Offerings: Start with a straightforward description of your products or services. Be clear about what they are and how they function.

Benefit-Oriented: Shift the focus from features to benefits. Explain how your offerings improve your customers' lives or businesses.

Differentiation: Emphasize what makes your products or services unique. Highlight the distinctive value they offer compared to existing market options.

Articulating the specifics of your products or services is crucial for potential investors, partners, and customers to understand the value you bring. It differentiates your offerings from the competition and showcases how they meet a specific market need or solve a problem.

4. Conduct Market Analysis

This step involves a deep dive into your industry, target market, and competition. A thorough market analysis demonstrates your knowledge of the industry, proves there's a demand for your product or service, and shows you understand your competition.

Industry Description: Provide an overview of your industry, including size, growth rate, and trends.

Target Market: Detail your target market, including demographic, geographic, and psychographic characteristics. Explain the size of your target market and its purchasing power.

Market Need: Describe the need for your product or service in the market.

Competition: Analyze your main competitors. What are their strengths and weaknesses? How does your business compare?

The market analysis section validates the demand for your product or service, showcasing your understanding of where your business fits within the broader industry landscape. It helps potential investors see that you've done your homework and that your business has a clear place in the market.

5. Develop Your Marketing and Sales Plan

Your marketing and sales plan outlines how you'll attract customers and generate revenue. It's essential for showcasing your strategies to reach your target audience effectively and convert them into paying customers.

Target Audience: Define your target audience in detail, including demographics, preferences, and behaviors.

Marketing Strategies: Outline the tactics you'll use to reach your target audience, such as digital marketing, content marketing, social media, advertising, etc.

Sales Strategy: Describe how you'll sell your products or services, including your sales channels, pricing strategy, and sales process.

Budget and Timeline: Specify your marketing and sales budget, along with the timeline for implementation.

A strong marketing and sales plan demonstrates how you'll acquire customers and drive revenue. It shows potential investors that you have a clear strategy for growth and customer acquisition.

6. Outline Your Operational Plan

The operational plan outlines how your business will function on a day-to-day basis. It covers various aspects such as production processes, supply chain management, facilities, and staffing.

Production Process: Describe how your products or services will be produced or delivered. Outline the steps involved in the production process and any equipment or technology required.

Supply Chain Management: Detail your supply chain, including sourcing raw materials, manufacturing processes, and distribution channels. Discuss any partnerships or suppliers involved.

Facilities and Equipment: Specify your physical location, facilities, and equipment needed to operate your business effectively.

Staffing Plan: Outline your staffing needs, including roles, responsibilities, and hiring plans. Discuss any training or development programs for employees.

The operational plan ensures that your business can execute its strategies effectively and efficiently. It provides clarity on how resources will be utilized, how tasks will be completed, and how potential challenges will be addressed.

7. Make Financial Projections

Financial projections forecast your business's future financial performance based on your current and anticipated operations. This step is crucial for demonstrating the potential profitability and sustainability of your business to investors and stakeholders.

Revenue Forecast: Estimate your future revenue based on sales projections, market trends, and growth strategies.

Expense Projections: Project your operating expenses, including costs for production, marketing, payroll, rent, utilities, and administrative expenses.

Profit and Loss Statement: Create a projected profit and loss statement that summarizes your expected revenue, expenses, and net income over a specific period.

Cash Flow Forecast: Develop a cash flow forecast to track the inflow and outflow of cash in your business.

Break-Even Analysis: Conduct a break-even analysis to determine the level of sales needed to cover your expenses and reach profitability.

Financial projections provide a roadmap for your business's financial future, helping you make informed decisions and secure funding. They demonstrate the potential return on investment for investors and lenders.

8. Identify Risks and Create Mitigation Tactics

Assessing potential risks and developing strategies to mitigate them is crucial for safeguarding your business's success. This step involves identifying various threats, vulnerabilities, and uncertainties that could impact your business operations or objectives.

How to Address It:

Risk Identification: Conduct a comprehensive risk assessment to identify potential threats to your business.

Risk Analysis: Once identified, analyze each risk to understand its likelihood of occurrence and potential impact on your business.

Risk Mitigation Strategies: Develop proactive strategies to mitigate identified risks and minimize their impact on your business.

Monitoring and Adaptation: Continuously monitor the business environment for emerging risks and adapt your mitigation strategies accordingly.

Identifying and mitigating risks is essential for protecting your business from potential disruptions and preserving its long-term viability.

Include Additional Information in an Appendix

The appendix is where you can attach any supporting documents, data, or supplementary materials that provide further context or detail to your business plan.

Supporting Documents: Attach any relevant documents such as licenses, permits, patents, contracts, or legal agreements.

Financial Reports: Include detailed financial reports, such as profit and loss statements, balance sheets, and cash flow statements.

Market Research Data: Attach any market research data, surveys, or analyses that informed your business strategy.

Resumes: Include resumes or biographies of key team members.

Additional Charts or Graphs: Supplement your business plan with additional charts, graphs, or visual aids.

The appendix allows you to provide supplemental information that enhances the understanding and credibility of your business plan.

Explore Sample Business Plans

Browse through our collection of sample business plans covering various industries. These real-world examples can provide valuable insights and ideas as you refine your strategy.

Why Settle for Generic Templates?

While sample plans offer a starting point, they may not fully address your business's unique needs. Avoid settling for generic business plan templates and embrace a more personalized approach with Plannit AI.

Craft Your Unique Business Plan with Plannit AI

With Plannit AI, you can bypass standard templates and create a plan that truly reflects your business idea. Our platform guides you through a simple questionnaire, ensuring your plan is tailored to your vision and objectives.

Why Plannit AI?

Personalized Guidance: Our user-friendly questionnaire guides you through each step of the process, ensuring your plan is customized to your business.

Efficiency: Get your comprehensive business plan in minutes, not days, with our fast, AI-powered process.

Tailored Solutions: Your answers inform a plan that targets your specific objectives and challenges, offering a personalized roadmap for success.

Ready to Elevate Your Business Plan?

Experience the difference personalization makes with Plannit AI. Say goodbye to generic templates and hello to a plan that truly stands out. Start now and unlock the full potential of your business idea.

Create your Business Plan Today

Embark on the journey to business success with Plannit AI, where your vision is translated into a strategic and actionable business plan.

Starting or Running a Business?

Generate a business plan in minutes.

Plannit For...

How to Use AI to Generate a Business Plan

Business in the business world can only be prosperous with a well-thought-out business plan. A business plan is needed for practical guidance. Indeed, creating an excellent business plan from scratch is overwhelming and time-consuming. Happily, Artificial Intelligence can help entrepreneurs with this complex task. 

AI-powered business plan generators can help generate ideas, structure business plans correctly, and improve their accuracy. With their help, the process will get faster, easier, and more successful.

So, let’s learn why you should exactly use them, how they work, and how to find and choose your best tool.

Let’s move on!

Why Should You Use AI to Write a Business Plan?

There are many more reasons for using AI than are mentioned above. Let’s talk about some of the main reasons and advantages you can get!

• Ideas and inspiration : Sometimes, when writing something, especially something detailed and lengthy, you can stop at some point and need new ideas or hints. AI tools can help a lot and inspire or suggest content to make your plan logical and smooth. 
• Low costs: Using an AI-powered tool is more affordable than hiring a business consultant to write a plan for you. Several valuable business plan writing tools are free, and even the paid ones are budget-friendly.
• Market trends : Some AI-powered tools write business plans based on market analysis. This can provide insights and valuable information about competitors and potential target audiences. 
• Clear and well-structured : AI-generated business plans are well-structured and clear because they eliminate human mistakes. They are also easy to understand, which is a great advantage if you work with investors.
• Accurate : AI tools are able to analyze large amounts of data and correct your mistakes. It is an important advantage if you work with financial forecasts. 
• Changeable : Experimenting is an important part of writing a business plan. AI tools allow change in various scenarios and understand whether they work or no. 

How to Write a Business Plan with AI? 

This is a comprehensive guide to help you begin developing a business plan:

• Collect data: Before using AI tools, try to understand your product or service. Gather data about the main competitors and target audience. Have a clear understanding of the main benefits of your product or service. 
• Find a feature-rich tool : There are dozens of popular tools. Choose one that suits your requirements, budget, and preferred interface. Some popular tools include PrometAI, LivePlan, and GoSmallBiz (we will discuss them later).
• Give details : The more answers and details you give to AI-powered tools, the more accurate your business plan will be generated. Talk about your requirements, your aims, and goals to get precisely what you want. 
• Conduct additional research: Take the AI-written plan as a basis and edit it to the best of its ability. Even if it looks perfect at first sight, you have to edit and make additional research to make it better. Only after a comprehensive review, you can find possible mistakes and inaccuracies.  
• Make a competitor analysis: Even though AI tools give you market insight, you have to make your own analysis and recheck everything to have a deeper understanding. This way, you can strengthen your AI-generated business plan. 
• Add human touch: AI-generated content, especially a business plan, can lack human and personal touch. Add your ideas and values to your brand to make it authentic and helpful.

Finding a Suitable tool

Within many tools, we have collected three well-known and feature-rich AI-powered business plan generators. Let’s talk about each of them in detail and understand their advantages. 

• LivePlan: Looking for a way to create business plans? This platform has you covered. It offers templates tailored to different industries, financial forecasting tools, and collaboration features. No matter what stage your business is at or what industry you’re in, this platform can help. While there’s a free trial available, you’ll need a paid subscription for full access.
• PrometAI: PrometAI business plan generator is an advanced tool for crafting business plans. It focuses on industry-specific strategies and data-driven insights. Using its knowledge across different sectors, PrometAI provides ready-to-use templates and creates content following industry standards. It offers powerful financial forecasting algorithms and an interactive dashboard for visualizing data and refining strategies. With a subscription-based model, PrometAI offers various plans tailored to your requirements.
• GoSmallBiz: The final but certainly not least tool is GoSmallBiz, an AI-powered business plan generator. It details the business overview, firm description, product/service line, and market analysis. What makes Tarkenton GoSmallBiz unique is its integration of educational resources. With access to hundreds of business courses and webinars, users can enhance their business acumen while crafting their business plans. Additionally, the AI tool offers a real-time performance score, providing instant feedback on your plan’s effectiveness.

Now that you know how to use AI tools to write your business plan, you can start your journey! Define your goals, find the most suitable tool, and start writing. Trust the process and use all these tools to show your brand vision and be successful!

Receive a free cost analysis

First Two Months Free

Dedicated Account Manager and Support Team

Statement Analysis

Statement Analysis, Onboarding session, First Two Months Free

Flexible and Friendly Payment Processing Solutions, Tailored To Suit Your Needs

Payline Data Services, LLC is an ISO of Wells Fargo Bank N.A., Concord, CA

Payline Data Services LLC is a registered ISO for Fifth Third Bank, N.A. Cincinnati, OH, USA

© 2024 Payline Data Services, LLC. All right reserved.

• Domain Names
• Websites & Hosting
• Email & Marketing
• Partner Programs & Products
• Reseller Programs
• GoDaddy Pro - Designers & Developers
• Search for Domain Names
• Auctions for Domain Names
• Transfer Domain Names
• Appraise Domain Name Value
• Browse Domain Name Options
• Generate Domain & Business Names
• Domain Broker Service
• Find a Domain Owner (WHOIS)
• Save with Bundles
• Website Builder
• Online Store
• Website Design Services
• Tools for Web Professionals
• All Website Options
• Web Hosting
• WordPress Hosting
• Managed WooCommerce Stores
• All Hosting Options
• SSL Certificates
• Website Security
• All Web Security Options
• Point of Sale Systems
• Smart Terminal
• Tap to Pay on iPhone
• Marketplaces and Social
• Online Pay Links
• GoDaddy Payments
• All Commerce Options
• Email & Microsoft 365
• Second Mobile Phone Number
• Content & Photo Creator
• Free Logo Maker
• Digital Marketing Suite
• Let Us Grow Your Brand
• SEO Services
• All Marketing Options

Have an account? Sign in now.

New to GoDaddy? Create an account to get started today.

• Control Panel Links:
• Manage Domains
• Manage Website Builder
• Manage Hosting
• Manage SSL Certificates
• Manage Email
• Inbox Links:
• Office 365 Email Login
• GoDaddy Webmail Login

The ultimate guide to writing a business plan with AI

• Share "The ultimate guide to writing a business plan with AI" on Facebook
• Share "The ultimate guide to writing a business plan with AI" on X
• Share "The ultimate guide to writing a business plan with AI" on LinkedIn
• Share "The ultimate guide to writing a business plan with AI" on Pinterest

Writing a business plan can be daunting, but with Artificial Intelligence (AI), entrepreneurs can save time in drafting this critical document. This guide helps you employ AI prompts to draft a comprehensive business plan using ChatGPT or another AI chatbot of your choice. 

Imagine AI as your assistant, expediting the initial drafting phase and leaving you more time for refining your plan. After AI aids you, it is ultimately your unique insight and understanding of your business that adds the finishing touch.

Embrace the power of AI and get ready to revolutionize your business planning process!

Disclaimer: When using AI tools, avoid entering sensitive information and always review output for accuracy. Additionally, this content is for demonstration purposes only; it does not represent any affiliation, endorsement or sponsorship with the companies mentioned. All trademark rights belong to their respective owners. Third-party trademarks are used here for demonstrative and educational purposes only, use does not represent affiliation.

Launch your business in minutes with GoDaddy Airo™

Understand business plans and prepare your info

Before embarking on your plan, you’ll need to first be familiar with the components of a business plan: 

• Your executive summary
• Company description
• Market analysis
• Competitive analysis
• Sales and marketing plan
• Ownership and management plan
• Operating plan
• Financial plan

Compiling detailed information about these areas of your business beforehand will make it easier to for AI to draft your information into a business plan. Need some examples of business plans? Check out these business plan resources:

• How to write a business plan  
• Free business plan template
• Write your business plan - SBA

For this business plan guide, I broke the plan down into 10 sections. Once I had all the information compiled on the company that I was writing a business plan for, it took about 90 minutes to input the information and use the prompts to create a solid draft. I utilized GoDaddy's free template and pasted the output into the relevant sections, revising it into a final version.

Choose your AI assistant

For testing this article, I used ChatGPT as my AI assistant. You can use any AI chatbot that you find suitable for your needs. For more on how to get started check out:

• Getting Started with GPT  
• Getting started with Bard  
• Getting started with Bing  
• Prompting 101

Feeding information to AI

Start with a general overview of your business name, target market, product/service, and financial projections. Share this information with your chatbot:

I'm developing a business plan for my company, <company name>, a <industry> startup offering <product/service>. Please accept the below information about my company, I will ask you about it during this chat where you will help me build out a strong business plan. Here is the information on my business to draw from, I will ask you about it next when we write a business plan together: <copy and paste information on your business here>

Break down different sections

Breaking down the business plan into different sections and using prompts for each is an effective strategy. Your AI assistant can then generate drafts for each section, which can be reviewed and edited by you. The goal is to make draft writing faster with high quality, so you can focus on providing a stellar final product.

• Cut and paste these below prompts and fill in your information. 
• Chat back and forth and refine prompts until you get the results you’re looking for. 
• For each section, if you have more information, you may add more information to the bottom of your prompt by adding: … here is more information to draw from: <cut-n-paste information>

Looking for more prompt recommendations? Find more AI prompts in the GoDaddy AI prompt library .

Section 1: Executive summary and company description prompt

Embody the mindset of a successful entrepreneur and a seasoned business strategist to help guide my business planning process and write a compelling business plan. Given that my company, <company name>, operates in the <industry> sector and is targeting <specific market segment>, please write an enticing and concise executive summary. From the information you have, also create a company description including the problems your business solves, who it serves, competitive advantage, and strengths.

Note: Even though this opens the business plan , you may choose to do this as a step last, or again at the end again once you’ve expanded on the information in the other sections of the business plan .

Section 2: Products and/or services prompt

Channel the innovative mindset of a product or service developer and a successful entrepreneur to provide a comprehensive description of <product/service> offered by my company. Elucidate the unique benefits these offerings provide to our customers and illuminate the unique selling propositions that distinguish us from our competitors in the <industry>.

Section 3: Market analysis prompt

Assume the role of a market analyst and help me outline a comprehensive market analysis for my company, <company name>. Please include data on our target market, demographics, consumer behavior, growth prospects, and our position in the <industry>.

Section 4: Competitive analysis prompt

As a seasoned business strategist and successful entrepreneur, compile a concise competitive analysis for my venture, <insert company>, in the <industry>. Pinpoint our main competitors, evaluate their strengths and weaknesses relative to ours, and detail the advantage of three competitors in our sector, <insert business type>. Draft a compelling unique selling proposition for our <product or service> that accentuates our unique value.

Alternative prompt: SWOT analysis

Embodying the strategic insight of a seasoned business strategist, marketer, and entrepreneur, conduct a succinct but thorough SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis for my venture, <your company>, in the <industry>. This analysis should offer a well-rounded view of our strategic position, and guide us in leveraging strengths, addressing weaknesses, capitalizing on opportunities, and mitigating threats for enduring success in the <industry>.

Section 5: Marketing and sales plan prompt 

Channel the strategic insight a seasoned marketing and sales strategist and expert business strategist to create a thorough sales and marketing plan for my venture, <insert business type>, which offers <insert products and/or services>. Additionally, provide a detailed growth strategy to accelerate our progression in the market. Write this in the appropriate professional style to be included in my business plan.

Section 6: Value proposition prompt 

Assume the perspective of <company name’s> potential customer in the <target market>. Based on the offerings and strengths of my company, <company name>, what would you consider to be our unique selling proposition? Please write this in the appropriate professional style to be included in my business plan.

Section 7: Ownership and management plan prompt

As a business strategist, help me delineate the optimal structure, ownership, and management roles for my company, <company name>, a <business type> operating in <location or online>. Outline the specific responsibilities tied to each role, creating a well-defined, profitable ownership and management plan, written in a professional business plan style. <copy and paste roles, names, titles, bios, etc if you have them>

Section 8: Operating plan prompt

Embodying the insight of a seasoned entrepreneur, help craft an efficient operating plan for my venture, <insert business type>, based in <location or online>. Assist in outlining our physical or digital infrastructure, equipment, and supply chain. Also, guide in devising a risk management plan to buffer uncertainties in the <industry>, ensuring our <product/service> delivery is well-articulated in a business plan style.

Section 9: Financial projections and funding request prompt*

In the mindset of a seasoned financial analyst, help me craft a comprehensive financial overview and funding request for <company name>. Create detailed income statements, balance sheets, cash flow statements, and a <how many years> year sales forecast assuming an average growth rate and an average order value of $<amount>. Incorporate a break-even analysis for my <insert business type> factoring in a total cost per unit/job of $<amount> and combined annual fixed and variable costs of $<amount>. Describe any assumptions. Simultaneously, articulate our present and future funding requirements of $<amount>, how we plan to utilize these funds, and the type of funding we're seeking. Ensure a persuasive pitch to potential financiers to be included in our business plan.

*A detailed financial projection cannot be appropriately done within this medium however it can provide a general approach and outline. Do not input confidential nor highly sensitive information. Please consult with a financial advisor or business strategist to develop an accurate and robust financial model for your business.

Section 10: Appendix 

An optional section to provide additional supporting information such as patents, licenses, detailed market research data, or product pictures. You should compile this yourself to ensure all supporting documents relevant to your company are accurate.

Pulling it all together

Once you have detailed drafts for each section, it's time to perfect it. The goal of a business plan is to demonstrate a thorough understanding of your business, its market, and its path to success. As you compile this document, ensure that your passion and commitment to your business idea shines through!

Request recommendations

Once you have refined the draft, feed it all back into the AI like in the first section to give you an overview of your business plan and help you identify any inconsistencies or gaps, and create a mission, vision, and values statement. 

Please accept my revised business plan. Based on all the information provided, please embody a seasoned business strategist, and review my business plan. What did I miss and what other opportunities can you identify for my business to be highly successful and profitable? What additional suggestions or ideas do you have? <insert business plan, may have to be separated into a few chats> Please accept my revised business plan. Based on all the information provided, please embody a seasoned business strategist and expert marketing copywriter, and write a comprehensive summary, mission statement, vision, values, and value proposition for my company, <company name>. <insert business plan, may have to be separated into a few chats>

Condense your business plan to one page

Act as a team of extremely successful businesspersons in <industry> who have achieved repeated, great success. Using all the information that we discussed, write a 1-page comprehensive, concise detailed business plan for my business, <company name> in <city/state/country and/or online>. This plan should cover all essential elements such as executive summary, company description, market analysis, organization and management, service or product line, marketing and sales, funding request, financial projections, and all the topics that should be included in a business plan to ensure success. Thank you!

Using AI image generators to liven up your business plan 

From concept to content generation, AI image generators can deliver high-quality, unique images that can enhance your business. From visual ideation, product design, iteration, logo creation, graphic design, and stock-style images, these tools can save time, reduce costs, and infuse creativity into your business planning process. 

Related: How to effectively prompt for AI art and generative AI image creation

In the rapidly evolving business landscape, AI stands as an indispensable ally. It can help you generate a business plan that is comprehensive, accurate, and tailored to your business, saving you valuable time and effort. 

It is important to remember that it is a tool, not a substitute for human ingenuity and careful oversight. Writing a business plan with AI becomes faster and easier, leaving you with more time to focus on turning your business dreams into reality. Best wishes for much success! 

Editor’s Note: GoDaddy Airo , our AI-powered website solution, is another way that AI is helping people by taking you from idea to online in just a few minutes. Check it out yourself!

How to Write a Business Plan: Step-by-Step Guide + Examples

Noah Parsons

24 min. read

Updated April 10, 2024

Writing a business plan doesn’t have to be complicated. 

In this step-by-step guide, you’ll learn how to write a business plan that’s detailed enough to impress bankers and potential investors, while giving you the tools to start, run, and grow a successful business.

• The basics of business planning

If you’re reading this guide, then you already know why you need a business plan . 

You understand that planning helps you: 

• Raise money
• Grow strategically
• Keep your business on the right track 

As you start to write your plan, it’s useful to zoom out and remember what a business plan is .

At its core, a business plan is an overview of the products and services you sell, and the customers that you sell to. It explains your business strategy: how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

Most business plans also include financial forecasts for the future. These set sales goals, budget for expenses, and predict profits and cash flow. 

A good business plan is much more than just a document that you write once and forget about. It’s also a guide that helps you outline and achieve your goals. 

After completing your plan, you can use it as a management tool to track your progress toward your goals. Updating and adjusting your forecasts and budgets as you go is one of the most important steps you can take to run a healthier, smarter business. 

We’ll dive into how to use your plan later in this article.

There are many different types of plans , but we’ll go over the most common type here, which includes everything you need for an investor-ready plan. However, if you’re just starting out and are looking for something simpler—I recommend starting with a one-page business plan . It’s faster and easier to create. 

It’s also the perfect place to start if you’re just figuring out your idea, or need a simple strategic plan to use inside your business.

Dig deeper : How to write a one-page business plan

Brought to you by

Create a professional business plan

Using ai and step-by-step instructions.

Secure funding

Validate ideas

Build a strategy

• What to include in your business plan

Executive summary

The executive summary is an overview of your business and your plans. It comes first in your plan and is ideally just one to two pages. Most people write it last because it’s a summary of the complete business plan.

Ideally, the executive summary can act as a stand-alone document that covers the highlights of your detailed plan. 

In fact, it’s common for investors to ask only for the executive summary when evaluating your business. If they like what they see in the executive summary, they’ll often follow up with a request for a complete plan, a pitch presentation , or more in-depth financial forecasts .

Your executive summary should include:

• A summary of the problem you are solving
• A description of your product or service
• An overview of your target market
• A brief description of your team
• A summary of your financials
• Your funding requirements (if you are raising money)

Dig Deeper: How to write an effective executive summary

Products and services description

This is where you describe exactly what you’re selling, and how it solves a problem for your target market. The best way to organize this part of your plan is to start by describing the problem that exists for your customers. After that, you can describe how you plan to solve that problem with your product or service. 

This is usually called a problem and solution statement .

To truly showcase the value of your products and services, you need to craft a compelling narrative around your offerings. How will your product or service transform your customers’ lives or jobs? A strong narrative will draw in your readers.

This is also the part of the business plan to discuss any competitive advantages you may have, like specific intellectual property or patents that protect your product. If you have any initial sales, contracts, or other evidence that your product or service is likely to sell, include that information as well. It will show that your idea has traction , which can help convince readers that your plan has a high chance of success.

Market analysis

Your target market is a description of the type of people that you plan to sell to. You might even have multiple target markets, depending on your business. 

A market analysis is the part of your plan where you bring together all of the information you know about your target market. Basically, it’s a thorough description of who your customers are and why they need what you’re selling. You’ll also include information about the growth of your market and your industry .

Try to be as specific as possible when you describe your market. 

Include information such as age, income level, and location—these are what’s called “demographics.” If you can, also describe your market’s interests and habits as they relate to your business—these are “psychographics.” 

Related: Target market examples

Essentially, you want to include any knowledge you have about your customers that is relevant to how your product or service is right for them. With a solid target market, it will be easier to create a sales and marketing plan that will reach your customers. That’s because you know who they are, what they like to do, and the best ways to reach them.

Next, provide any additional information you have about your market. 

What is the size of your market ? Is the market growing or shrinking? Ideally, you’ll want to demonstrate that your market is growing over time, and also explain how your business is positioned to take advantage of any expected changes in your industry.

Dig Deeper: Learn how to write a market analysis

Competitive analysis

Part of defining your business opportunity is determining what your competitive advantage is. To do this effectively, you need to know as much about your competitors as your target customers. 

Every business has some form of competition. If you don’t think you have competitors, then explore what alternatives there are in the market for your product or service. 

For example: In the early years of cars, their main competition was horses. For social media, the early competition was reading books, watching TV, and talking on the phone.

A good competitive analysis fully lays out the competitive landscape and then explains how your business is different. Maybe your products are better made, or cheaper, or your customer service is superior. Maybe your competitive advantage is your location – a wide variety of factors can ultimately give you an advantage.

Dig Deeper: How to write a competitive analysis for your business plan

Marketing and sales plan

The marketing and sales plan covers how you will position your product or service in the market, the marketing channels and messaging you will use, and your sales tactics. 

The best place to start with a marketing plan is with a positioning statement . 

This explains how your business fits into the overall market, and how you will explain the advantages of your product or service to customers. You’ll use the information from your competitive analysis to help you with your positioning. 

For example: You might position your company as the premium, most expensive but the highest quality option in the market. Or your positioning might focus on being locally owned and that shoppers support the local economy by buying your products.

Once you understand your positioning, you’ll bring this together with the information about your target market to create your marketing strategy . 

This is how you plan to communicate your message to potential customers. Depending on who your customers are and how they purchase products like yours, you might use many different strategies, from social media advertising to creating a podcast. Your marketing plan is all about how your customers discover who you are and why they should consider your products and services. 

While your marketing plan is about reaching your customers—your sales plan will describe the actual sales process once a customer has decided that they’re interested in what you have to offer. 

If your business requires salespeople and a long sales process, describe that in this section. If your customers can “self-serve” and just make purchases quickly on your website, describe that process. 

A good sales plan picks up where your marketing plan leaves off. The marketing plan brings customers in the door and the sales plan is how you close the deal.

Together, these specific plans paint a picture of how you will connect with your target audience, and how you will turn them into paying customers.

Dig deeper: What to include in your sales and marketing plan

Business operations

The operations section describes the necessary requirements for your business to run smoothly. It’s where you talk about how your business works and what day-to-day operations look like. 

Depending on how your business is structured, your operations plan may include elements of the business like:

• Supply chain management
• Manufacturing processes
• Equipment and technology
• Distribution

Some businesses distribute their products and reach their customers through large retailers like Amazon.com, Walmart, Target, and grocery store chains. 

These businesses should review how this part of their business works. The plan should discuss the logistics and costs of getting products onto store shelves and any potential hurdles the business may have to overcome.

If your business is much simpler than this, that’s OK. This section of your business plan can be either extremely short or more detailed, depending on the type of business you are building.

For businesses selling services, such as physical therapy or online software, you can use this section to describe the technology you’ll leverage, what goes into your service, and who you will partner with to deliver your services.

Dig Deeper: Learn how to write the operations chapter of your plan

Key milestones and metrics

Although it’s not required to complete your business plan, mapping out key business milestones and the metrics can be incredibly useful for measuring your success.

Good milestones clearly lay out the parameters of the task and set expectations for their execution. You’ll want to include:

• A description of each task
• The proposed due date
• Who is responsible for each task

If you have a budget, you can include projected costs to hit each milestone. You don’t need extensive project planning in this section—just list key milestones you want to hit and when you plan to hit them. This is your overall business roadmap. 

Possible milestones might be:

• Website launch date
• Store or office opening date
• First significant sales
• Break even date
• Business licenses and approvals

You should also discuss the key numbers you will track to determine your success. Some common metrics worth tracking include:

• Conversion rates
• Customer acquisition costs
• Profit per customer
• Repeat purchases

It’s perfectly fine to start with just a few metrics and grow the number you are tracking over time. You also may find that some metrics simply aren’t relevant to your business and can narrow down what you’re tracking.

Dig Deeper: How to use milestones in your business plan

Organization and management team

Investors don’t just look for great ideas—they want to find great teams. Use this chapter to describe your current team and who you need to hire . You should also provide a quick overview of your location and history if you’re already up and running.

Briefly highlight the relevant experiences of each key team member in the company. It’s important to make the case for why yours is the right team to turn an idea into a reality. 

Do they have the right industry experience and background? Have members of the team had entrepreneurial successes before? 

If you still need to hire key team members, that’s OK. Just note those gaps in this section.

Your company overview should also include a summary of your company’s current business structure . The most common business structures include:

• Sole proprietor
• Partnership

Be sure to provide an overview of how the business is owned as well. Does each business partner own an equal portion of the business? How is ownership divided? 

Potential lenders and investors will want to know the structure of the business before they will consider a loan or investment.

Dig Deeper: How to write about your company structure and team

Financial plan

Last, but certainly not least, is your financial plan chapter. 

Entrepreneurs often find this section the most daunting. But, business financials for most startups are less complicated than you think, and a business degree is certainly not required to build a solid financial forecast. 

A typical financial forecast in a business plan includes the following:

• Sales forecast : An estimate of the sales expected over a given period. You’ll break down your forecast into the key revenue streams that you expect to have.
• Expense budget : Your planned spending such as personnel costs , marketing expenses, and taxes.
• Profit & Loss : Brings together your sales and expenses and helps you calculate planned profits.
• Cash Flow : Shows how cash moves into and out of your business. It can predict how much cash you’ll have on hand at any given point in the future.
• Balance Sheet : A list of the assets, liabilities, and equity in your company. In short, it provides an overview of the financial health of your business. 

A strong business plan will include a description of assumptions about the future, and potential risks that could impact the financial plan. Including those will be especially important if you’re writing a business plan to pursue a loan or other investment.

Dig Deeper: How to create financial forecasts and budgets

This is the place for additional data, charts, or other information that supports your plan.

Including an appendix can significantly enhance the credibility of your plan by showing readers that you’ve thoroughly considered the details of your business idea, and are backing your ideas up with solid data.

Just remember that the information in the appendix is meant to be supplementary. Your business plan should stand on its own, even if the reader skips this section.

Dig Deeper : What to include in your business plan appendix

Optional: Business plan cover page

Adding a business plan cover page can make your plan, and by extension your business, seem more professional in the eyes of potential investors, lenders, and partners. It serves as the introduction to your document and provides necessary contact information for stakeholders to reference.

Your cover page should be simple and include:

• Company logo
• Business name
• Value proposition (optional)
• Business plan title
• Completion and/or update date
• Address and contact information
• Confidentiality statement

Just remember, the cover page is optional. If you decide to include it, keep it very simple and only spend a short amount of time putting it together.

Dig Deeper: How to create a business plan cover page

How to use AI to help write your business plan

Generative AI tools such as ChatGPT can speed up the business plan writing process and help you think through concepts like market segmentation and competition. These tools are especially useful for taking ideas that you provide and converting them into polished text for your business plan.

The best way to use AI for your business plan is to leverage it as a collaborator , not a replacement for human creative thinking and ingenuity. 

AI can come up with lots of ideas and act as a brainstorming partner. It’s up to you to filter through those ideas and figure out which ones are realistic enough to resonate with your customers. 

There are pros and cons of using AI to help with your business plan . So, spend some time understanding how it can be most helpful before just outsourcing the job to AI.

Learn more: 10 AI prompts you need to write a business plan

• Writing tips and strategies

To help streamline the business plan writing process, here are a few tips and key questions to answer to make sure you get the most out of your plan and avoid common mistakes .  

Determine why you are writing a business plan

Knowing why you are writing a business plan will determine your approach to your planning project. 

For example: If you are writing a business plan for yourself, or just to use inside your own business , you can probably skip the section about your team and organizational structure. 

If you’re raising money, you’ll want to spend more time explaining why you’re looking to raise the funds and exactly how you will use them.

Regardless of how you intend to use your business plan , think about why you are writing and what you’re trying to get out of the process before you begin.

Keep things concise

Probably the most important tip is to keep your business plan short and simple. There are no prizes for long business plans . The longer your plan is, the less likely people are to read it. 

So focus on trimming things down to the essentials your readers need to know. Skip the extended, wordy descriptions and instead focus on creating a plan that is easy to read —using bullets and short sentences whenever possible.

Have someone review your business plan

Writing a business plan in a vacuum is never a good idea. Sometimes it’s helpful to zoom out and check if your plan makes sense to someone else. You also want to make sure that it’s easy to read and understand.

Don’t wait until your plan is “done” to get a second look. Start sharing your plan early, and find out from readers what questions your plan leaves unanswered. This early review cycle will help you spot shortcomings in your plan and address them quickly, rather than finding out about them right before you present your plan to a lender or investor.

If you need a more detailed review, you may want to explore hiring a professional plan writer to thoroughly examine it.

Use a free business plan template and business plan examples to get started

Knowing what information to include in a business plan is sometimes not quite enough. If you’re struggling to get started or need additional guidance, it may be worth using a business plan template. 

There are plenty of great options available (we’ve rounded up our 8 favorites to streamline your search).

But, if you’re looking for a free downloadable business plan template , you can get one right now; download the template used by more than 1 million businesses. 

Or, if you just want to see what a completed business plan looks like, check out our library of over 550 free business plan examples . 

We even have a growing list of industry business planning guides with tips for what to focus on depending on your business type.

Common pitfalls and how to avoid them

It’s easy to make mistakes when you’re writing your business plan. Some entrepreneurs get sucked into the writing and research process, and don’t focus enough on actually getting their business started. 

Here are a few common mistakes and how to avoid them:

Not talking to your customers : This is one of the most common mistakes. It’s easy to assume that your product or service is something that people want. Before you invest too much in your business and too much in the planning process, make sure you talk to your prospective customers and have a good understanding of their needs.

• Overly optimistic sales and profit forecasts: By nature, entrepreneurs are optimistic about the future. But it’s good to temper that optimism a little when you’re planning, and make sure your forecasts are grounded in reality. 
• Spending too much time planning: Yes, planning is crucial. But you also need to get out and talk to customers, build prototypes of your product and figure out if there’s a market for your idea. Make sure to balance planning with building.
• Not revising the plan: Planning is useful, but nothing ever goes exactly as planned. As you learn more about what’s working and what’s not—revise your plan, your budgets, and your revenue forecast. Doing so will provide a more realistic picture of where your business is going, and what your financial needs will be moving forward.
• Not using the plan to manage your business: A good business plan is a management tool. Don’t just write it and put it on the shelf to collect dust – use it to track your progress and help you reach your goals.
• Presenting your business plan

The planning process forces you to think through every aspect of your business and answer questions that you may not have thought of. That’s the real benefit of writing a business plan – the knowledge you gain about your business that you may not have been able to discover otherwise.

With all of this knowledge, you’re well prepared to convert your business plan into a pitch presentation to present your ideas. 

A pitch presentation is a summary of your plan, just hitting the highlights and key points. It’s the best way to present your business plan to investors and team members.

Dig Deeper: Learn what key slides should be included in your pitch deck

Use your business plan to manage your business

One of the biggest benefits of planning is that it gives you a tool to manage your business better. With a revenue forecast, expense budget, and projected cash flow, you know your targets and where you are headed.

And yet, nothing ever goes exactly as planned – it’s the nature of business.

That’s where using your plan as a management tool comes in. The key to leveraging it for your business is to review it periodically and compare your forecasts and projections to your actual results.

Start by setting up a regular time to review the plan – a monthly review is a good starting point. During this review, answer questions like:

• Did you meet your sales goals?
• Is spending following your budget?
• Has anything gone differently than what you expected?

Now that you see whether you’re meeting your goals or are off track, you can make adjustments and set new targets. 

Maybe you’re exceeding your sales goals and should set new, more aggressive goals. In that case, maybe you should also explore more spending or hiring more employees. 

Or maybe expenses are rising faster than you projected. If that’s the case, you would need to look at where you can cut costs.

A plan, and a method for comparing your plan to your actual results , is the tool you need to steer your business toward success.

Learn More: How to run a regular plan review

Free business plan templates and examples

Kickstart your business plan writing with one of our free business plan templates or recommended tools.

Free business plan template

Download a free SBA-approved business plan template built for small businesses and startups.

Download Template

One-page plan template

Download a free one-page plan template to write a useful business plan in as little as 30-minutes.

Sample business plan library

Explore over 500 real-world business plan examples from a wide variety of industries.

View Sample Plans

How to write a business plan FAQ

What is a business plan?

A document that describes your business , the products and services you sell, and the customers that you sell to. It explains your business strategy, how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

What are the benefits of a business plan?

A business plan helps you understand where you want to go with your business and what it will take to get there. It reduces your overall risk, helps you uncover your business’s potential, attracts investors, and identifies areas for growth.

Having a business plan ultimately makes you more confident as a business owner and more likely to succeed for a longer period of time.

What are the 7 steps of a business plan?

The seven steps to writing a business plan include:

• Write a brief executive summary
• Describe your products and services.
• Conduct market research and compile data into a cohesive market analysis.
• Describe your marketing and sales strategy.
• Outline your organizational structure and management team.
• Develop financial projections for sales, revenue, and cash flow.
• Add any additional documents to your appendix.

What are the 5 most common business plan mistakes?

There are plenty of mistakes that can be made when writing a business plan. However, these are the 5 most common that you should do your best to avoid:

• 1. Not taking the planning process seriously.
• Having unrealistic financial projections or incomplete financial information.
• Inconsistent information or simple mistakes.
• Failing to establish a sound business model.
• Not having a defined purpose for your business plan.

What questions should be answered in a business plan?

Writing a business plan is all about asking yourself questions about your business and being able to answer them through the planning process. You’ll likely be asking dozens and dozens of questions for each section of your plan.

However, these are the key questions you should ask and answer with your business plan:

• How will your business make money?
• Is there a need for your product or service?
• Who are your customers?
• How are you different from the competition?
• How will you reach your customers?
• How will you measure success?

How long should a business plan be?

The length of your business plan fully depends on what you intend to do with it. From the SBA and traditional lender point of view, a business plan needs to be whatever length necessary to fully explain your business. This means that you prove the viability of your business, show that you understand the market, and have a detailed strategy in place.

If you intend to use your business plan for internal management purposes, you don’t necessarily need a full 25-50 page business plan. Instead, you can start with a one-page plan to get all of the necessary information in place.

What are the different types of business plans?

While all business plans cover similar categories, the style and function fully depend on how you intend to use your plan. Here are a few common business plan types worth considering.

Traditional business plan: The tried-and-true traditional business plan is a formal document meant to be used when applying for funding or pitching to investors. This type of business plan follows the outline above and can be anywhere from 10-50 pages depending on the amount of detail included, the complexity of your business, and what you include in your appendix.

Business model canvas: The business model canvas is a one-page template designed to demystify the business planning process. It removes the need for a traditional, copy-heavy business plan, in favor of a single-page outline that can help you and outside parties better explore your business idea.

One-page business plan: This format is a simplified version of the traditional plan that focuses on the core aspects of your business. You’ll typically stick with bullet points and single sentences. It’s most useful for those exploring ideas, needing to validate their business model, or who need an internal plan to help them run and manage their business.

Lean Plan: The Lean Plan is less of a specific document type and more of a methodology. It takes the simplicity and styling of the one-page business plan and turns it into a process for you to continuously plan, test, review, refine, and take action based on performance. It’s faster, keeps your plan concise, and ensures that your plan is always up-to-date.

What’s the difference between a business plan and a strategic plan?

A business plan covers the “who” and “what” of your business. It explains what your business is doing right now and how it functions. The strategic plan explores long-term goals and explains “how” the business will get there. It encourages you to look more intently toward the future and how you will achieve your vision.

However, when approached correctly, your business plan can actually function as a strategic plan as well. If kept lean, you can define your business, outline strategic steps, and track ongoing operations all with a single plan.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Noah is the COO at Palo Alto Software, makers of the online business plan app LivePlan. He started his career at Yahoo! and then helped start the user review site Epinions.com. From there he started a software distribution business in the UK before coming to Palo Alto Software to run the marketing and product teams.

Table of Contents

• Use AI to help write your plan
• Common planning mistakes
• Manage with your business plan
• Templates and examples

Related Articles

5 Min. Read

How To Create a Compelling Message With Your Business Plan to Help Sell Your Idea

How to Write a Personal Shopper Business Plan + Example Templates

8 Min. Read

How to Forecast Personnel Costs in 3 Steps

10 Min. Read

How to Write an eCommerce Business Plan + Template

The Bplans Newsletter

The Bplans Weekly

Subscribe now for weekly advice and free downloadable resources to help start and grow your business.

We care about your privacy. See our privacy policy .

Tax Season Savings

Get 40% off LivePlan

The #1 rated business plan software

Discover the world’s #1 plan building software

Transition to growth mode

with LivePlan Get 40% off now

0 results have been found for “”

 Return to blog home

How to Collaborate With AI to Write a Better Business Plan

Posted october 25, 2023 by noah parsons.

If you’re like most people, writing a business plan is a frustrating or intimidating hurdle. 

It’s the part of starting a business you’d rather skip in favor of more exciting things like working on your product or designing your logo. 

And, of course, AI tools like ChatGPT make it tempting to outsource the entire planning process to the robots. Click a button, generate a business plan, and move on to the next thing. 

Business planning is immensely valuable . It’s so much more than the document you end up with. It’s the process you go through – thinking about the details of your marketing strategy, who your best customers will be, your sales goals, and how you’ll build your business over time. 

Planning is a worthwhile and instructive process to help you build a better business.

And you don’t have to go it alone. AI can help .

Understanding the strengths and weaknesses of AI

The key word here is “help.” It’s not “AI can do it for you” or “AI can write your plan.” AI can help you write your plan. But it can’t – and shouldn’t – just write your entire plan for you. 

Here’s why:

• AI often gets things wrong and invents “facts.” As of fall 2023, AI tools aren’t reliable research companions.
• Especially if you’re doing something new, like inventing a new product or service, AI can’t understand how your product might resonate with your customer.
• Creativity is not AI’s strong point. You may get some new ideas from AI, but tools like ChatGPT are just regurgitating text they’ve seen elsewhere on the internet.

But AI is good at a lot of things:

• ChatGPT can transform lists of ideas into polished sentences and paragraphs.
• AI excels at summarizing research documents and can save you tons of time. AI never gets tired of reading reports.
• You may not be a professional business plan writer , but AI can make you look like one by polishing your writing and fixing grammatical mistakes.
• If you need to brainstorm, AI can be a great stand-in for a business partner to help generate good (and bad) ideas, stimulating your own creativity.

And you, the driving force behind your business, have unique capabilities that AI lacks:

• You’re creative and innovative, coming up with unique solutions and ideas to differentiate yourself from the competition.
• You have intuition about what your customer wants.
• You know your customers better than anyone.
• You know your business’s context, including any cultural nuances and market subtleties.

That’s why you need to work with AI on your business plan. 

The combination of unique human innovation and the workhorse power of AI is a dynamic mix for creating great business plans .

Best practices for incorporating human and AI input into your business plan

Here’s how you can collaborate with AI on key parts of your business plan:

Market research

• ChatGPT to brainstorm target market segments and summarize any market research reports you may have.
• Human input for nuanced insights on your target market and customer profile—plus fact-checking any research ChatGPT provides.

Marketing and sales strategy

• ChatGPT for brainstorming and listing possible tactics or channels .
• Human intuition for choosing the most effective strategies to differentiate your business from the competition .

Financial projections

• ChatGPT to help brainstorm potential revenue streams and list common expenses for businesses like yours.
• Human expertise to gather real-world expenses such as local rents, marketing costs, etc. And your expertise to make educated guesses about potential revenue. 

Executive summary

• ChatGPT to draft an initial summary of your complete plan once you’ve worked through all of the sections.
• Human input to revise ChatGPT’s initial draft of your plan summary to make the story more compelling and ensure that key points aren’t missed.

LivePlan’s AI plan writing features

Successful business planning with AI is about collaborating with the technology, not outsourcing all your work. Think of AI as another tool to help get the job done, not a complete solution.

That’s why we’ve integrated AI into LivePlan the way that we have. There is no “write my plan” button. 

Instead, AI is integrated as an assistant to help you transform your ideas into polished writing . Or, if you’ve written too much, LivePlan’s AI assistant can help you boil your thoughts down into concise bullet points. 

LivePlan’s AI won’t tell you exactly how much money you’ll make each month, but it will help you think about where your money will come from and how you should spend it.

Like spreadsheets and the internet, AI is a tool to help you become more efficient. It will help you learn more about your business and develop a better strategy faster than you could before.

Like this post? Share with a friend!

Noah Parsons

Posted in business plan writing, join over 1 million entrepreneurs who found success with liveplan, like this content sign up to receive more.

Subscribe for tips and guidance to help you grow a better, smarter business.

You're all set!

Exciting business insights and growth strategies will be coming your way each month.

We care about your privacy. See our privacy policy .

• [email protected]
• [email protected]
• Venture Planner Limited
• New Garden Street,
• Stafford, ST17 4AG,
• Consultants

Users This Month

The Future of Business Planning

Venture Planner uses cutting-edge technology to generate professional business plans effortlessly. The platform, equipped with an advanced AI interface, guides you through a sequence of multiple-choice questions before generating everything you need, including detailed financial forecasts.

• Fully Bespoke to Your Business
• Professional Forecasting

No Typing Required

Join the revolution.

Since launching in Dec 2023.

Used in every sector and industry.

Helping businesses worldwide.

Outpace Your Rivals with Cutting-Edge AI

Harness the power of Venture Planner to create a winning plan and gain a competitive advantage over your competitors.

Answer The Questions

Here's the ingenious bit, the platform doesn't require you type anything. Instead, the AI will pose a series of questions, gathering information on your vision, goals and ambitions.

Generate Your Plan

Our sophisticated AI then analyses your inputs and generates tailored suggestions and strategies for you to consider. Finally each section of your plan is generated according to your specific requirements.

Next-Gen Business Planning

There is no need for typing and minimal data entry, just answer the questions, we do the rest.

Automated Projections

Quickly create precise and realistic financial forecasts without any financial expertise.

Professional Quality

Created by business leaders and financial advisors our plans are the highest quality available.

Strategy Suggestions

Our AI provides multiple strategies to increase business growth and success.

Powerful AI Engine

Leverage the power of the worlds most advanced AI to supercharge your business plans and growth.

Get the AI Advantage & Overtake your Competitors

Winning strategy.

Craft business strategies that position you ahead of the curve.

By leveraging data-driven insights, you can make informed decisions that propel your business to new heights, ensuring a competitive edge in your industry.

Improved Marketing

Enhance your marketing with AI that understands your audience.

Our system helps you create a marketing plan that will resonate with your target demographic. With our AI, you can ensure that your marketing message hits the mark every time.

Accurate Financials

Trust in AI to deliver precise financial forecasts and budgeting.

Plan investments, manage cash flow, and predict revenue with confidence, securing your business's financial future.

Better Branding

Plan a brand that connects and endures.

Enhance your brand's presence and loyalty with a unique identity that speaks directly to your audience's needs and aspirations.

Reduced Risk

Identify potential pitfalls before they occur.

From market shifts to operational challenges, our AI tools provide you with the foresight to navigate obstacles and secure your business's continuity.

Achieve Objectives

Identify and manage short and long term objectives.

Be clear about your goals and put in place an action plan to achieve them.

Forecasting

Revenue projection, cash flow forecast, profit & loss, balance sheet.

We make it easy to create revenue projections, so you can make informed decisions based on accurate figures.

• Easy input of sales drivers and growth assumptions with user-friendly interfaces
• Create multiple what-if scenarios to understand potential outcomes.
• Generate detailed reports that can be used for investor presentations or internal strategy meetings.

Automated cash flow forecasting provides the insights needed to manage liquidity, plan for the future, and avoid potential cash shortages.

• Automatically calculates cash inflows and outflows, reducing the risk of human error.
• Generate graphical representations of cash flow data for easier interpretation and analysis.
• Categorise and track expenses automatically for comprehensive expense management.
• Match revenues with corresponding expenses for accurate profitability analysis.
• View key performance indicators such as gross margin and net profit margins.

Get a clear view of the businesses financial health by accurately representing assets, liabilities, and equity.

• Calculate key financial ratios such as debt-to-equity and current ratio for financial analysis.
• Track depreciation and amortization schedules for accurate asset valuation.
• Monitor short-term and long-term liabilities to ensure accurate reporting.
• Keep track of equity changes from retained earnings and capital injections.

Subscriptions

We offer two options, each provide full access to all features. The choice is simply a matter of how many plans you wish to create.

• Business Subscription For entrepreneurs and others looking to create a single professional business plan.
• Consultant Subscription For business plan writers and consultants who need to create multiple business plans.

Limited Time Offer

Business Plan Templates: How To Write & Examples

3 Examples of Business Plan Templates

Simple business plan template.

[name of business] is a new business that will provide [description of problem that the business solves].The business will solve this problem by [description of how the business will solve the problem].

The target market for this product or service is [description of target market for this product or service].The business plans to reach its target market by [explain how you plan to reach your target market and make money].

More : Use this free template to create your simple business plan in seconds

Business Plan For A Startup Template

[Company name] is a startup that is focused on solving [problem] in the [market].The executive team behind [company] is made up of [name], who has been working in the field of [field] for over 20 years.

The team has already begun to build the product, and it will be ready to launch in the next few months.The company has plans to raise $[amount] in funding, which will be used to scale the business and continue to develop new features.The company plans to focus on [market] first, then expand into other markets.

More : Use this free template to create your startup business plan in seconds

Business Plan For A Food Truck Template

Hi [Name/Bank],

My name is [name], and I'm the owner of [name of food truck]. I'm so excited to share with you my food truck business plan.My food truck, [name of food truck], is a mobile restaurant that sells [food truck menu]. We sell our fare at special events, festivals, and at catering gigs.

Our target market is people who are looking for healthy and delicious food that's not too expensive.I'm starting my food truck business because I want to share the joy of eating great food with everyone. I've been cooking for years, and I think that the world needs more tasty and healthy options for people who want to eat clean but don't want to sacrifice taste or quality.

We're going to promote our business by participating in local food truck festivals and getting the word out through social media and word of mouth.

We'll also offer coupons on our website and send out newsletters to our mailing list of loyal customers.In terms of financials, we estimate that we'll have expenses of $[number] in year one, which includes startup costs, with projected revenue of $[number].

More : Use this free template to create your food truck business plan in seconds

How to use Copy.ai’s business plan template

To access the business plan generator, click here . You’ll need to be logged in to see the template. 

You’ll be directed to a page that prompts you to fill out the main points of your template: 

• Your business name 
• Describe the problem your business solves
• Describe how your business will solve that problem
• Target market description
• Revenue model description

Try to be as descriptive as possible when filling out these points. The more details you add, the easier it will be for the free template tool to create your business plan format.

Let’s say you’re writing a business plan for a hair salon. Here’s how you might fill out each category:

• Business name: Shear Charm Salon
• Problem description: The closest hair salon to our location is a 20-mile drive that takes well over half an hour, even without heavy traffic.
• Solution description: We will be a centrally-located destination for people and families of all ages, backgrounds, and styles to come for haircuts and other haircare services.
• Target market description: Men, women, and children, from babies to older adults.
• Revenue model description: We will offer services that include basic cuts, color, extensions, styles, and treatments, as well as a wide array of hair care products for retail sale.

Then, choose a tone. You can go with friendly, persuasive, and professional or something else, depending on what you’re going for.

If you submitted this information in our template, here’s the copy that the tool would generate: 

If the options provided aren’t ideal, you can have the tool generate a few more examples. 

From here, you may want to tweak the generated copy to personalize it even further. You can add more information about the services and products you’ll be offering or go into more detail about the business itself.

Whatever type of business you’re starting, a simple business plan should include certain parts that detail your operational plan and business model.

The 7 parts of a good business plan

Our business plan generator is a great jumping-off point, but you may decide that you want to organize the copy into sections. Headers can help readers scan the plan and quickly find the section or details they need. If you would like to add headers, consider organizing your business plan copy under these sections.

Executive summary

The executive summary is where you will compel the reader to see the value of your business. Include your mission statement. Express the purpose of your business plan—are you trying to secure funding? Are you making a plan for your team to have a go-to resource for business information?

Company description

Properly introduce your company in this section. Explain the history of your company, share details about what problem(s) your company is solving, and where you see your business going in the future.

Market analysis

Lay out your competitors as well as your target audience. How are you going to effectively corner the market with your product or service? Spell that out in this section, and be sure to do your research.

Organization

This section is all about the “how” of your business—its structure and how responsibilities are handled and by whom. Providing an organizational chart of your management team and company is always a helpful visual for the reader and your team. Include timelines for your planned goals.

The marketing plan section will describe how you plan to grow your business by attracting new customers. List the ways your marketing strategy will use social media to reach people in the area where your business is located, as well as any plans for marketing in local publications. Include a brand messaging document, so the reader knows where you stand, and conduct market research, so you can reach your target audience in the best way possible.

Goods and services

Let the reader know what product(s) you’re selling and its benefits to customers. Include any statistics about the demand for what you’re offering, the pricing of the goods, and a breakdown of the product, like how it works. You should also list plans for future products or expansions. 

Financial projections

Lay out your financial plan by listing your expenditures and revenues. Be realistic about your finances and forecasts—don’t overextend projections and potentially set yourself up for failure if you don’t reach them. Shareholders want to see how you plan to make a profit, as well as how you plan to handle any financial setbacks. Be sure to include income statements, financial statements, and cash flow statements.

Reach for new heights for your business with Copy.ai’s business plan template

Whether you’re a startup or a new business, all business owners can use Copy.ai’s free business plan template to create a roadmap for success by telling the story of your business and where you plan to take it.

Frequently Asked Questions

Related templates.

Follow Up Email After Networking Templates: How To Write & Examples

Executive Summary Templates: How To Write & Examples

Abandoned Cart Email Templates: How To Write & Examples

Shopify Abandoned Cart Email Templates: How To Write & Examples

Pr Outreach Email Templates: How To Write & Examples

Business Plan For A Marketing Agency Templates: How To Write & Examples

Airbnb Landlord Outreach Email Templates: How To Write & Examples

Webinar Email Templates: How To Write & Examples

Client Offboarding Email Templates: How To Write & Examples

Ebay Product Description Templates: How To Write & Examples

How it works.

Ready to level-up?

Write 10x faster, engage your audience, & never struggle with the blank page again.

Venturekit uses AI to write a business plan for every entrepreneur.

Starting a business? Type in a few details about a venture and get a 40-section business plan, a chock-full of marketing ideas, positioning angles, financial forecasts, and more.

Venturekit , a cutting-edge SaaS platform, is making business plans sexy with its AI business plan generator , designed to revolutionize how entrepreneurs create business plans. 

In a recent survey conducted by the Small Business and Entrepreneurship Council (SBEC) in the US, nearly half of small businesses have adopted AI tools in the past year. The survey underscores the significant time and cost savings experienced by businesses leveraging AI, driving efficiency and profitability. The report shows that 93% of small business owners agree that AI tools offer cost-effective solutions that drive savings and improve profitability.

Integrating AI into business planning marks a significant advancement in making entrepreneurship easier and more fun. Dawson Whitfield, CEO of Venturekit, cites the transformative impact of AI, saying, "Writing a business plan is usually pretty painful. AI makes it a really fun process because it gives you 100s of ideas right out of the gate.”

Traditional business planning methods often present daunting barriers for aspiring entrepreneurs, with complex analyses and intimidating financial projections. However, the incorporation of AI into the industry is reshaping these processes, making them more approachable and less overwhelming. Venturekit leads this shift, emphasizing the personalization of business plans to reflect every brand and business' unique vision and goals.

"One of my main motivations for starting Venturekit was to make entrepreneurs more successful by giving them a solid foundation to launch their business. By leveraging AI, we want to make the process of business planning exciting, as it should be,” adds Whitfield.

The AI business plan generator instantly generates everything – from SWOT analysis to financial forecast – all specific to the user’s business. Leveraging the latest advancements in AI language models, such as GPT4, Venturekit's AI system is trained on vast amounts of data, industry trends, and best practices to generate personalized business plans.

Venturekit's fully generated business plan contains executive summaries, financial forecasts, SWOT analyses, marketing strategies, competitive analyses, and business models. The platform's emphasis on data security ensures the confidentiality of users' business information through encryption methods.

Judith, a company CEO who turned to Venturekit for help with AI plans, said that Venturekit was “hugely helpful” as someone who was always daunted by the idea of drafting a business plan. She adds, "The process was intuitive, and the generated plans exceeded all my expectations."

Joseph, another business leader, shared that the scalability and consistency of Venturekit's business plans have streamlined his company's expansion strategies. Joseph underscores "how tailored and detailed each plan is, despite being AI-generated."

According to Whitfield, Venturekit remains committed to being at the forefront of the transformative impact of AI in business planning. The business plan software offers cost-effective solutions that streamline the planning process, allowing entrepreneurs to redirect resources to various other areas. With Venturekit, creating a comprehensive business plan is no longer a daunting task but an exciting and fun one seen to drive success.

Businesses and entrepreneurs who want to check out Venturekit business plan examples and templates may visit https://www.venturekit.ai .

About Venturekit:

Venturekit is a leading SaaS platform revolutionizing the way entrepreneurs and business leaders create business plans. With a focus on high-quality business plan templates, Venturekit leverages advanced AI technology to streamline the planning process, making it efficient, personalized, and cost-effective.

Venturekit empowers businesses and entrepreneurs to pursue their dreams by providing them with the tools and resources they need to succeed. Whether a seasoned executive or a first-time business owner, Venturekit's AI business plan generator offers tailored solutions that reflect each entrepreneur's unique vision and goals.

Contact Details: 

Business: Venturekit

Contact Name: Dawson Whitfield

Contact Email: [email protected]

Website:  https://www.venturekit.ai/

Country: Canada

Don't have a Shopify store?

How to Write a Business Plan in 9 Steps

Starting a business without a business plan is quite possible. But why would you risk that, especially when you are investing thousands of dollars to set up your startup?  

Whether you aim to secure funding, need a roadmap to achieve business objectives, or want to attract the attention of stakeholders—having a well-crafted business plan is like an indispensable asset for your business. 

But writing a business plan is not that easy. One needs strategic direction, a bit of writing flair, and a thorough understanding of what each section should include. 

A lot for someone who has never written a business plan earlier in their life. 

Well, having a useful guide like this blogpost can nudge you in the right direction and teach you how to write for different business plan components. 

Ready to get started? Let’s dive right in. 

9 Steps to Write Your Business Plan  

From creating your executive summary to conducting market research and preparing your financial plan—here is a step-by-step guide to writing your business plan. 

• Draft your executive summary

An executive summary is the first and most important section of your business plan. 

It is after this section that an investor will decide whether or not to proceed with your business proposal. 

Begin this section by introducing your business idea and then summarize the key essentials of a plan in a compelling narrative. Highlight information relating to the market, product, team, competitors, financials, and business goals to help investors get a macro but thorough perspective. 

Also, write your executive summary only after you are done writing for the other aspects of a business plan. This will help you distill essential information and present it appropriately. 

• Write a brief company overview

A company overview is a detailed summary describing your business and its future objectives. It offers you a chance to tell your business story to the readers, so make sure it is engaging. 

Begin this section by detailing your company’s information like its name, location, ownership, and business structure.

Clarify if the business would be registered as a sole proprietorship, partnership, LLC, or corporation. Also, introduce the partners if any, and discuss their profit-sharing ratio. 

In this section, you will also highlight the company’s vision statement, its business objectives, and future goals after evaluating your business fundamentals and core values. 

Lastly, don’t forget to talk about the milestones you have already achieved and the history of the company, if it has been operating for a long time. 

• Define your market research

Market research and analysis is a crucial part of your business plan. It shows that you have a thorough understanding of the market and the industry you are about to enter. 

In this section, you should talk about the market size and state of market in the current economy. Elaborate further by defining your Total Addressable Market (TAM), Serviceable Addressable Market (SAM), and Serviceable Obtainable Market (SOM) to help lenders get distilled clarity. 

Additionally, give an overview of your target market and create a buyer’s persona to show what your ideal customer looks like. Talk about the psychographic and demographic details of your ideal customer, i.e. age, gender, income, interests, pain points, behavioral pattern, etc. 

This is essential so that you can create strategies effective for your target market. 

Lastly, include details about the emerging trends in your industry and show how your product fits perfectly within that market. 

• Conduct competitor’s analysis

Competitor analysis is an aspect of market research that deeply studies the competitive landscape of your business. 

In this section of your business plan, you will identify your direct and indirect competition and analyze them on grounds of price, features, and target market. 

Such analysis will help you draw your competitive edge in the market. Not only that, it will show the lenders that competition will not come in the way of your business achieving its goals.   

• Describe your products and services

This section of your business plan explores your product and service offerings in great detail. 

Here, you will list down all the products and services that will bring money to your business. This includes all sorts of primary and secondary products/ services that are available for sale. 

For instance, if you are planning to start an online pet store, talk about all sorts of products, brands, and pet needs you will be catering to. Also, include the list of services like pet grooming, vet consultation, puppy training, and others you would be offering on your platform. 

When you list down the products also add a brief overview of those products and the prices to give lenders a thorough understanding. 

Instead of making this section purely textual, add infographics and HD images to it engaging and informative. 

• Explain your operational plan

This section of your business plan shows how you are going to run the business and turn the idea into a reality. 

It includes a detailed breakdown of each business procedure, right from the client acquisition, to training protocols, quality control practices, and everything else. 

It’s important that you take time and work on your operations plan as it most often works as a guidebook for running a business. 

Now if you are wondering what to include in your operations plan, here are a few things it must definitely have: 

• Standard operating procedures for running different business activities. 
• Logistics and distribution of products through different life cycles. 
• Production workflow, if applicable. 
• Details of supply chain like vendors and agreements. 
• Details about the physical location of your business, its dimensions, agreements, etc. 
• Equipment and technologies to perform everyday business activities and their details. 
• Staff and hiring plan and an understanding of who will perform what tasks. 

Also, include your long-term plans and show how you plan to reach there with streamlined operations. 

Again, try to add infographics, charts, and diagrams wherever possible to make this section easily absorbable for the readers.  

• Outline your marketing and sales strategies

The marketing and sales section of your business plan offers an in-depth overview of your sales and marketing strategies. 

In this section, you will talk about your sales goals, forecasts, and methods to achieve those sales goals. Explain your plans to attract new customers and retain existing clients and discuss your sales strategy in detail.

Further, describe your marketing plan, budget, and methods to track the progress of different marketing activities. 

Dive into detail and explain how you will implement different marketing strategies like print media, pay-per-click, email marketing, social media marketing, events/ launch, and others. 

Overall, offer an overview of your strategies to achieve the most important objective of your business, sales. 

• Introduce your management team

Lenders and investors want to know if you have the right people on the team to pull off your business idea. Well, this is your chance to tell them about solid people on your team. 

Introduce the CEO and members of managerial positions in this section. Talk about their experience, expertise, skill sets, achievements, and how they make the right fit for your business. 

Don’t you worry about bragging. This is absolutely the right time to brag about your star team. 

Further, introduce people at the middle and lower levels and explain the organizational hierarchy in your business through a diagram. Also, add the approximate salaries of the people to give the readers a more nuanced understanding.  

• Offer detailed financial forecasts

This is the most critical part of your business plan, especially if you are planning to seek funding from investors. 

Now, there are many things you can include in your financial plan. However, if there are 3 quintessential it must include, those are: 

• Income Statement
• Balance Sheet 
• Cash Flow Statement

While making the financial plan, include predictions and forecasts for up to 3-5 years so that investors can gauge the viability and feasibility of your business idea. 

Apart from these key statements, you can also include figures for start-up costs, the cost of goods sold (COGS), revenue forecasts, and break-even analysis in this section. 

Lastly, ensure that you add visual graphs, charts, and diagrams to make your finances easy to grasp and understand.

Let us now see if there is a way to write your business plan effectively without much effort.  

How does AI help in writing your Business Plan?

Writing a business plan from scratch without any assistance, template, or structure can be time-consuming. 

However, with AI making the rounds, it is easier than ever to perform creative and repetitive tasks, efficiently. Especially for someone who finds it difficult to transform their ideas into words, AI can make the task of writing a business plan much easier. 

Now, generative AI tools like Chat GPT and Bard can help you write the contents of your plan. However, they lack the understanding of specific nuances that a business plan must include. 

Using an AI business plan builder instead can be more effective as it structures and plans the contents specifically suited for a business plan. 

All you need to do is answer the questions relating to your business and let AI create a unique business ps easy to get a headstart and then make essential changes thereafter using AI assistance. 

AI will not only make the process less time-consuming, but it will also help in increasing the effectiveness of your business plan by working strategically on the content and structure. 

Business plans are quintessential for any business. Whether you are starting a new venture, expanding the current one, or seeking investment for your startup—having a solid business plan will give you a headstart in the right direction. 

Follow this step-by-step guide or get yourself an AI plan builder to write your business plan in no time. Get started now. 

Recover lost sales with proven Abandoned Cart Email series

• --> --> --> -->