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14 Exceptionally Useful Tools for Writing a Business Plan

Alyssa Gregory is an entrepreneur, writer, and marketer with 20 years of experience in the business world. She is the founder of the Small Business Bonfire, a community for entrepreneurs, and has authored more than 2,500 articles for The Balance and other popular small business websites.

Writing a business plan is a necessary part of starting a business, yet many small business owners struggle with the process. Not only can it be time-consuming and stressful to conduct the necessary research and gather the required materials, but it can also be difficult to know exactly what format your business plan should be in and what information it should include.

To help you streamline the process, here are 14 tools you can use to get started with your business plan.

Online Tools

This set of online tools walks you through each section of a traditional business plan in a step-by-step format.

SBA's Build Your Business Plan Tool - The SBA's Business Plan Tool is a step-by-step guide that allows you to save your progress and come back to it for up to six months.
Enloop - With this tool, you add in your information, and Enloop automatically writes your plan based on your details.
LivePlan - LivePlan is an online service that simplifies the business planning process while providing assistance with budgeting, forecasting, and performance tracking.
RocketLawyer - Business owners can create a customized, printable business plan with RocketLawyer by following an online step-by-step interview process.
StratPad - StratPad's step-by-step approach and cloud-based business planning software help small business owners create a plan in less than a day.

Business Plan Tutorials

These five business planning how-to documents will help you get your business plan started.

How to Write a Simple Business Plan - An easy 8-step business plan tutorial that results in a streamlined and brief business plan that you can use as-is or as a starting point for a more traditional business plan.
SBA's Video Business Planning Tutorial - This series of video tutorials includes nine videos that are about 2-10 minutes each. You can pick and choose where to start or run through them in the original order.
Entrepreneur's Elements of a Business Plan - An in-depth review of the seven essential sections of a business plan: what you should include, what you shouldn't include, how to work the numbers and additional resources you can turn to for help.
Comprehensive Business Plan Outline - A business plan outline that walks you through each section of a basic business plan, including an overview of what should be included, examples and tips for writing each section of your business plan effectively.
Shopify's Ultimate Guide to Business Plans - This comprehensive 9-chapter business plan guide covers every important aspect of writing a business plan.

Business Plan Templates

If you prefer more of a "fill-in-the-blank" format to get your business plan started, one of these templates may be exactly what you need.

SCORE Business Planning Templates - A collection of business planning templates that are for both new and established businesses.
BPlans' Business Plan Template - A downloadable template that gives you a clear idea of what a traditional business plan should look like. (Free sign-up is required to download.)
The $100 Startup One-Page Business Plan - Download and fill in the blanks with this one-page business plan template.
Office Depot's Business Plan Templates - These templates include the most important elements of a business plan that demonstrate how the nature of a business and the target audience for the plan impact the content.

Keep in mind that the best business plans are those that are updated and regularly used as a way to keep your business on track. Whichever tool you use, make it a goal to create a plan that you can use as an action document and can grow with your business over time.

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8 Best Business Plan Software for 2024

By Krystle Wong , Jan 01, 2024

Gone are the days of staring at blank pages and struggling to structure a business plan effectively. With user-friendly interfaces and a wide range of business plan templates catering to various industries, creating business plans that are polished, professional and data-driven can now be done in a fraction of the time.

For startups, business plan software guides them through the crucial early stages with comprehensive business plan templates and financial modeling tools. Established businesses on the other hand benefit from the software’s collaborative features, enabling seamless teamwork as they pivot, innovate and pursue new growth opportunities.

In this article, let’s delve into exploring the seven best business plan software for 2024. Whether you’re an aspiring entrepreneur with a groundbreaking idea or a seasoned business owner ready to elevate your enterprise to new heights, these software solutions have all you need to create a solid business plan.

Click to jump ahead:

What is a business plan software?

7 Best business plan software for 2024

Factors to consider when choosing a business plan software

7 steps to create your own business plan, business plan software faq, key takeaway.

A Business plan software is a specialized digital tool designed to assist entrepreneurs, startups and established businesses in creating, organizing and presenting comprehensive business plans.

Business plan software significantly reduces the time and effort required to create a comprehensive business plan . The availability of business plan templates, financial modeling tools and automated features streamlines the process of business planning and eliminates the need for starting from scratch.

Some advanced business planning software even integrates market research capabilities. This feature provides users with access to market trends, industry benchmarks and relevant data. Access to such data helps users make informed decisions and demonstrate a thorough understanding of their target market.

8 Best business plan software for 2024

1. venngage.

Venngage specializes in transforming traditional business plans into captivating visual stories. Visuals can communicate complex information effectively, ensuring your ideas stand out and resonate with your audience.

When it comes to business planning, conveying your ideas with impact is just as important as the content itself. In this digital age, visual storytelling has emerged as a powerful way to captivate audiences and leave a lasting impression. That’s where Venngage steps in.

With a rich library of templates, Venngage offers a variety of themes and styles to suit different industries and business types. Customize your business plans with our user-friendly drag-and-drop tools by adding your brand elements, customizing colors, fonts and visuals to make your business plan truly unique. Check out our library of sample business plans to get started today.

However, while Venngage excels in visual storytelling, it might not be the go-to tool for in-depth financial forecasts and analysis. Users seeking extensive financial modeling might want to complement Venngage with a comprehensive business planning tool.

Pricing options:

Create your first 5 designs with Venngage for free and upgrade to a premium or business plan for $10/month per user and $24/month per user respectively to enjoy premium features. For larger teams who need extra support, controls and security, the enterprise plan starts from $499/month for 10+ seats.

Can I collaborate with team members using this business plan software?

Yes, absolutely! Venngage offers collaborative features that allow you to work seamlessly with multiple team members when creating business plans. You can invite team members to join your Venngage account and they can contribute to the design process in real time.

Can I export my business plan to different file formats?

Upgrade to a premium or business plan on Venngage to export your professional business plan to different file formats. After designing your business plan, you can choose to export it as a high-quality PDF document, which is ideal for sharing and printing. Additionally, Venngage allows you to export your business plan as an image file (PNG or JPG), making it easy to use in presentations or on your website.

Is this business plan software suitable for startups or established businesses?

Venngage is great for entrepreneurs and businesses looking to enhance their business plans with visually engaging infographics and visual assets.

Instead of sharing a lengthy, 50-page document that may bore your audience and fail to effectively convey your message — present your business plan with infographics. Here’s how you can create a business plan infographic that will wow your readers and showcase your business at its best.

2. LivePlan

Source: Screenshot from LivePlan

In the realm of business planning software, LivePlan stands out as a reliable and user-friendly tool. With a focus on seamless financial forecasting and budgeting capabilities, LivePlan streamlines the planning process, helping businesses transform their visions into reality.

The software’s financial forecasting tools provide users with the ability to project revenue, expenses and cash flow accurately. This financial insight is invaluable for making informed decisions and setting realistic goals.

For hassle-free data integration, the business plan software offers seamless integration with accounting software . This feature allows users to import financial data effortlessly, saving time and reducing manual data entry.

While LivePlan excels in financial planning and user-friendliness, some users may find the customization options for design and layout to be limited. For businesses seeking highly tailored visual aesthetics, LivePlan’s template-based approach might be less ideal.

The standard plan is available at $20/month for monthly billing and $15/month for annual billing. For businesses seeking extensive financial tools to support their operations and growth, the Premium plan costs $20 for the first month and $40/month (monthly billing) or $30/month (annual billing) for subsequent months.

LivePlan facilitates seamless collaboration among users within your account, allowing multiple individuals to work on the same plan concurrently. To prevent conflicting edits, LivePlan restricts access to specific sections, allowing only one user to edit at a time while others observe the locked section.

You can export your business plan by using the print to PDF feature. This generates your plan content in a standard file format compatible with Adobe Reader and other free reader programs. Alternatively, you can export your plan to Microsoft Word (2007 or later).

A great tool for small businesses, startups and entrepreneurs looking for easy-to-use software with solid financial planning tools.

3. Upmetrics

Upmetrics is an AI-powered business planning software that helps businesses of all sizes and industries write their business plan.

With Upmetrics AI Assistant, you can write your plan faster, get answers to any business-related queries, and prepare financial forecasts in no time.

Besides, the subscription includes access to 400+ sample business plans, various informative guides, and video tutorials to keep your business plan writing process on track.

Additionally, it has collaborative features, so that everyone on the team can share their insights. Not just that, the software provides you with an AI pitch deck generator, so you can make a stellar pitch.

As an AI business plan builder , Upmetrics is suitable for entrepreneurs, startups, and small businesses to write their plans at any stage. Although it has various cover page designs and immense customization options, it might still lack visual appeal.

Pricing plan options

Starter plan – $7 monthly
Premium plan – $14 monthly

Yes, you can collaborate with your team members while using Upmetrics. It offers collaboration tools that allow you to work effortlessly with your team on the business plan. You can invite team members to collaborate, assign tasks, and track the progress together.

You can download your business plan as a PDF or directly as a document in Word. Besides, you can share the business plan directly to any email, and they will get the viewer access to the plan.

Upmetrics is a versatile business planning software suitable for startups and established businesses. But its financial planning features, step-by-step guidance, and AI Assistant make it more useful for startups writing business plans for the first time.

4. BizPlan by Startups.com

Source: Screenshot from BizPlan

If you’re a startup aiming to raise investments, BizPlan is the one for you. As a universal professional business plan builder, BizPlan offers the added advantage of seamless integration with all the tools within the Startups.com network.

Designed with startups in mind, BizPlan’s step-by-step approach allows you to break down the entire scope of work into manageable steps and the built-in Progress Tracker tool keeps you on track towards success.

Once you subscribe, BizPlan opens the door to utilizing all the tools offered by Startups.com, making it a one-stop shop for your entrepreneurial needs. Whether it’s lifetime access to the service, connectivity to Findable to attract financial investments, a wealth of online educational programs or the ability to connect multiple owners to a single account, BizPlan delivers comprehensive support.

While the business plan software offers an array of benefits, it’s essential to consider the possible downsides. The absence of a free version and a mobile app, along with a lack of industry-specific templates for business plans may be worth considering before making your decision

Pricing plan options:

Monthly plan ($29 per month)
Annual plan ($20.75 per month or $249/year)
Lifetime access (one-time fee of $349)

Bizplan encourages collaboration with partners, team members, advisors and subject matter experts by allowing threaded comments throughout the entire plan. It provides control over who can access sensitive financial data and enables convenient cloud-based access from anywhere.

Bizplan provides multiple options for sharing your business plan with others. You can generate an online version of your plan, which can be set as private by default or made publicly accessible through a unique shareable URL. Additionally, Bizplan offers the option to create a custom-branded PDF of your business plan.

BizPlan is great for entrepreneurs and small businesses who value a vast collection of resources and need support in financial analysis.

Source: Screenshot from Enloop

Enloop emerges as one of the best business plan tools for startups, catering to entrepreneurs who crave a streamlined planning process. With the ability to automatically generate basic text for each section of your plan, Enloop saves time and effort in crafting your business vision.

A highlight of the business plan tool is its automatic generation of financial projections, offering accurate insights based on your entered data. This powerful feature empowers entrepreneurs to make informed decisions and project future outcomes with confidence.

For those with a penchant for strategic thinking, Enloop’s “what-if” scenario analysis becomes an invaluable tool. It allows users to explore various business strategies and assess their potential impact on plan outcomes, enabling sound decision-making.

Enloop doesn’t stop at generating numbers; it goes a step further by providing a business plan grading system. This insightful feature assesses plan quality, giving users valuable feedback to refine and enhance their business plans.

However, it’s essential to consider the software’s limitations as customization and design options are relatively limited. Additionally, the basic version of Enloop might not meet the needs of all users, as it lacks certain advanced features.

Seven day free trial (no credit card required)
Detailed plan ($19.95/month or $11/month when billed annually)
Performance plan ($39.95/month or $24/month when billed annually)

Enloop’s online business plan writing app lets you invite and collaborate with anyone on your business plans using the ‘Invite & Share’ feature.

Enloop allows you to download your business plan in PDF format whenever you’re ready. The plans remain accessible in your paid account, encouraging regular updates to keep track of your business’s health and have an up-to-date plan ready for financing needs.

Suitable for entrepreneurs seeking a tool that simplifies financial forecasting and scenario analysis.

6. PlanGuru

Source: Screenshot from PlanGuru

PlanGuru’s standout feature lies in its ability to forecast all three financial statements – income statement, balance sheet and cash flow statement so that users can make data-driven decisions.

Creating detailed analyses becomes a breeze with PlanGuru’s general ledger import utilities, allowing seamless historical data import. The software facilitates budget vs actual reporting and enables building rolling forecasts with just a few clicks each month.

Unlimited budgeting flexibility is another advantage offered by the business plan builder. Users can craft simple high-level small business budgets or delve into intricate multi-department operating budgets with ease.

With scenario analysis capabilities, PlanGuru empowers users to interpret the financial impact of specific events accurately. This feature enables making critical investments and strategic decisions with confidence, knowing thorough due diligence has been performed.

Given its sophisticated features, PlanGuru may be more suitable for financial professionals and analysts looking for in-depth financial analysis and budgeting tools. Users not familiar with financial modeling may face a steeper learning curve when utilizing Enloop’s robust capabilities.

Single entity ($99/month or $75/month when billed annually)
Multi-department consolidations ($299/month or $225/month when billed annually)

You can add up to 3 users with the multi-department consolidation plan. Additionally, all plans allow you to add on $29/month (billed monthly) or $25/month (billed annually) for each extra user.

What other apps does PlanGuru integrate with?

The cloud-based platform is also accessible as a Windows-based desktop version, giving you the freedom to choose the format that suits you best. Additionally, PlanGuru seamlessly integrates with MS Excel, QuickBooks Online and Xero, providing further flexibility and convenience in using the software.

The cloud-based version is suitable for SMBs or nonprofits budgeting for a single entity while the multi-department consolidations plan is for companies with multiple departments needing consolidated budgets.

7. Business Sorter

Source: Screenshot from Business Sorter

With Business Sorter’s card sort system, crafting the foundation of your plan becomes a breeze. Featuring 273 cards covering various business situations, the business plan generator offers flexibility, allowing users to customize their plan by adding their cards or modifying existing ones, tailoring the plan to their specific needs.

The platform also provides the convenience of viewing your plan on any device, including smartphones, which not many business plan apps have. Additionally, guidance is at hand with Business Sorter as the software provides valuable tips and advice for every key step, empowering users to implement their business strategy with confidence.

While Business Sorter excels in its interactive features, it may not offer as extensive financial analysis tools as other business plan software. For businesses requiring advanced financial modeling capabilities, Business Sorter might not fully meet their requirements.

For small teams with up to 3 users ($10/month or $80/year)
For medium teams with up to 10 users ($30/month or $240/year)
For large teams with up to 30 users ($80/month or $640/year)
For enterprises with unlimited users (custom pricing)

Your business plan can be edited by only one user at a time. When a user opens a plan, it automatically locks to prevent any data loss and remains locked until the user finishes their work and exits the plan.

You can print each business plan directly from the plan summaries on your dashboard.

Suitable for both entrepreneurs and businesses looking for an interactive and visually appealing planning approach.

9. AchieveIt

Source: Screenshot from AchieveIt

AchieveIt stands as a versatile software for business plans, designed to simplify the planning process for businesses of all sizes and planning methods. With AchieveIt, you can easily build plans, ensuring alignment and engagement among your employees and optimizing plans for seamless execution.

Regardless of your preferred planning method, AchieveIt empowers you to construct plans effortlessly, providing a flexible solution for any planning use case. The software ensures your plans are well-aligned with your organization’s objectives, engaging all team members for successful plan execution.

The business plan tool provides robust tracking and reporting features, allowing businesses to monitor the progress of their plans and measure performance against set goals. Users can create customized dashboards to visualize key performance metrics, making it easier to identify trends and insights.

That said, In comparison to most business plan software, AchieveIt’s pricing might be relatively higher with its extensive features. On top of that, for users new to strategic planning software, AchieveIt may present a learning curve during the initial adoption phase.

The business plan software packages for AchieveIt varies based on factors like organization size, required functionality and the number of users. AchieveIt being an enterprise-level software offers custom pricing to cater to the specific needs of each business. For accurate pricing details, it’s best to contact their sales or customer support team.

AchieveIt allows team members, stakeholders and advisors to have shared access to the platform, providing them with visibility into the latest updates and progress on the plans. Users can assign tasks to team members and track their progress within the platform.

Can AchieveIt integrate with existing systems?

AchieveIt’s Data Integration API lets you import key metric data from existing systems, saving time and reducing errors by eliminating the need for data entry in multiple places.

AchieveIt is best suited for medium to large-sized businesses and organizations that require a comprehensive and collaborative strategic planning platform. It caters to teams and enterprises seeking to improve their planning processes, track performance and drive organizational alignment to achieve business objectives effectively.

No idea what your business plan should look like? Check out these business plan examples for inspiration.

When searching for the best business planning software, you may be wondering — what features should I look for in business plan software? You want to make sure it meets your specific requirements and streamlines the planning process effectively. Here are the top six factors to consider:

Ease of use

The software should have a user-friendly interface that simplifies the process of creating a business plan. Look for intuitive navigation, clear instruction and a layout that makes it easy to input and organize your information.

Features and business plan templates

Check the range of features and business plan templates the software offers. Look for a diverse selection of business plan templates catering to various industries and business types. The software should provide essential sections like executive summaries, market analysis, financial projections and more.

Financial modeling tools

Your business plan software should allow you to input financial data and generate accurate and comprehensive financial projections. These business plan creation tools are vital for assessing the financial viability of your business.

Collaboration and sharing

If you’ll be working with a team or seeking feedback from others, consider software that enables real-time collaboration and easy sharing. The ability to work together seamlessly can enhance productivity and improve the quality of your business plan.

Built for fast-moving teams that need to be on the same page, Venngage’s real-time collaboration enables you to polish your design with your team in real time, leave comments on each other’s work,and save your designs in one shared folder. With your Venngage Business account, you can easily invite and manage your team members to collaborate on a design, all in real time.

Security and data protection

Since a business plan contains sensitive information, prioritize software that prioritizes security. Ensure that the software uses encryption and data protection measures to keep your data safe from unauthorized access.

Exporting and sharing options

Check the software’s export options. You’ll likely want to share your business plan with others, so ensure it can be exported in popular formats like PDF or PowerPoint.

Are you an entrepreneur starting a new business or expanding your existing business? This guide on how to create a small business plan might come in handy for you.

Creating business plans can be a crucial step in setting your entrepreneurial vision on the right track. To help you through the process, here are 7 steps to guide you in crafting a comprehensive business plan:

Step 1: Executive summary

Start with an attention-grabbing executive summary. This section provides an overview of your business. In your executive summary, make sure to highlight your mission, goals, products or services, target market and the unique value you offer. Keep it concise, yet compelling.

Step 2: Company description

Give a detailed description of your company. Explain your business’s history, its legal structure (e.g. sole proprietorship, LLC, corporation) and the reasons why your business will succeed in the market.

Step 3: Market analysis

Conduct thorough market research to understand your industry, target market and competition. Identify your ideal customers, their needs and preferences. Analyze your competitors and highlight your competitive advantages.

Step 4: Products and Services

Describe your products or services in depth. Explain their features, benefits and how they meet the needs of your target customers. Emphasize what sets your offerings apart from the competition.

Step 5: Marketing and sales strategy

Outline your marketing and sales strategies to reach your target audience. Explain your promotional activities, pricing strategies, distribution channels and sales tactics. Detail how you plan to acquire and retain customers.

Step 6: Financial projections

Project your financial performance over the next three to five years. Include estimated revenue, expenses and cash flow. Detail your startup costs and funding requirements if applicable. Be realistic and supported by market research.

Step 7: Implementation plan

Create a detailed roadmap for executing your business plan. Set specific goals and milestones. Break down tasks and assign responsibilities. Include timelines and a plan for measuring progress.

A great tip here is to start with a well-structured outline. This guide on how to create a business plan outline will help you in creating your blueprint to easily identify your business’ resource needs, including finances, personnel and equipment.

Is my business data safe with business plan software?

Most reputable business plan software providers prioritize data security and employ encryption and other measures to keep your business data safe from unauthorized access.

What are the benefits of using business planning tools?

Business planning tools offer time efficiency, professional presentation, error reduction, collaborative features and accessibility, making it easier to create a comprehensive business plan that impresses investors and stakeholders.

Do I need any specific skills or expertise to use business plan software?

No, many business plan software solutions are designed to be user-friendly, requiring no specific skills or expertise. They often come with templates and step-by-step guidance to assist you through the planning process.

In the dynamic landscape of 2024, businesses are on the lookout for innovative tools to stay ahead of the curve and drive their growth. These 7 business plan software picks for 2024 offer a wide range of features, from user-friendly interfaces and real-time collaboration to sophisticated financial analysis tools and customizable dashboards.

Whether you’re looking for user-friendly platform business planning tools that aligns with your business planning processes or a business plan writing software that allows you to tailor the business plan according to your industry, goals and unique requirements — I’m quite certain I’ve got them all covered.

The value of these business plan software options lies not only in their efficiency but also in their ability to save time and reduce errors. By integrating with existing systems through Data Integration APIs, users can seamlessly import key metric data, eliminating redundant data entry and streamlining the process.

If you’re still unsure about which is the right business plan software for your business, you can always take advantage of free trials or video tutorials and demos offered by software providers. Testing the platform firsthand will give you a practical understanding of its usability and suitability for your business.

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10 Best Business Plan Software and Tools in 2024

Do you know what’s common between a global IT firm and a small food truck business?

Like any other business on the planet Earth, they both require a solid business plan to make their business a runaway success.

Business plan. No entrepreneur is a stranger to this term, but do they all consider it seriously? Not sure.

Results? Spending a lot of time, money, and resources on the wrong marketing strategies, missing several growth opportunities, and of course, facing tough times raising funds.

No one wants to be in this situation!

That’s where a perfect business plan software can help you out. These tools make drafting an investment-ready business a breeze.

So how exactly can these business planning tools help?

Simply put, business plan software can help you create a winning business plan, develop marketing strategies, and predict your financial future—ultimately helping your business grow.

Now, how to choose a tool that will suit your business’s requirements and your budget too? The answer is right here.

In this article, we’ve narrowed down our search for the best business plan software to the 10 best paid and free software considering factors like—pricing, features, performance, and credibility.

So you can easily pick the one that best suits your requirements.

All sorted? Shall we begin? Let’s roll.

Best Paid and Free Business Plan Software and Tools

Jump to section, 1. upmetrics.

Upmetrics is a top business and financial planning software helping entrepreneurs and small business owners start and grow their businesses.

Its 200+ fully customizable sample business plans, video tutorials, well-written documentation, and go-to guides make writing a business plan a lot easier for someone new to business plan writing.

The best part about Upmetrics is—it’s affordable, reliable, and best for beginners.

In fact, the creators of Upmetrics believe that creating a business plan requires no special qualifications, nor a degree in finance to draw financial projections.

And the tool they’ve created speaks volumes of their words—making it a go-to solution for budding entrepreneurs.

Let’s have a look at the features you get with Upmetrics—the #1 business plan software:

400+ fully customizable business plan templates to get started.
Easy-to-use business plan builder with drag and drop tools.
Financial forecasting tool to plan and manage your cash flow with ease.
Easy to share or collaborate with the team in real time.
Pitch deck creator to create perfect pitches and impress investors.
Create actionable business strategies using various business model canvases.
Easily customize and edit cover pages.
Real-time updates and cloud storage, eliminating the risk of data loss.
Business resources, video tutorials, and guides to help get started.
Intuitive, seamless, and responsive user interface.

The Upmetrics subscription starts at $7/month (billed annually) with one workspace; it also provides a free demo and a 15-day money-back guarantee —so no risk at all!

Create winning Business Plans with ultimate

Plans starting from $7/month

What People Say About Us

2. Liveplan

LivePlan is one of the best and most renowned business planning, budgeting, and performance-tracking software for startups and small business owners.

Whether you are a startup looking to attract potential investors or an established organization that needs help creating a forecast of your business’s financial future—LivePlan can help.

LivePlan simplifies the process of creating a professional business plan with its instruction manuals, tutorials, and expert guidance, whereas its automated financials built-in with formulas ensure precise financial forecasting.

LivePlan provides a wide range of features which may include:

Business plan templates
Budgeting and expense tracking
Online learning tools & resources
Collaborative planning
Pitch deck creator
Dashboard and reporting
Integrated document storage

Though LivePlan has been in the market for a long time now, it isn’t suitable for short-term business planning. That’s why we recommend exploring some LivePlan alternatives.

LivePlan’s subscription model consists of two plans: standard and premium. The standard plan costs $20/month, whereas the premium plan costs $40/month. However, they do not have any free trial or demo as a part of their pricing plan.

What I didn't like about LivePlan?

Here are the average user ratings, comparing the experiences on Liveplan and Upmetrics.

Compare Liveplan with Others

Liveplan vs. Enloop: Which is Best for Your Business?

IdeaBuddy vs. Liveplan: Which is Best for Your Business?

Bizplan vs. Liveplan: Which is Best for Your Business?

Enloop is an advanced business planning and financial forecasting tool helping business owners maximize the potential of their business venture.

Unlike Upmetrics and LivePlan—Enloop is designed for individuals with prior financial knowledge and business planning experience.

Understanding all of its functionalities is tough, but it has a lot to offer once you figure out its basic functionalities. Still, it’s not the most intuitive and user-friendly application in this space, so it may take a while to get used to it.

If you’re not a beginner and are willing to invest some time understanding and learning its functionalities—it’s well worth it. But, if you’re not, you may consider looking for a few other business plan software.

Enloop provides a wide range of advanced financial tools and business planning features, which may include:

Business plan creation
Automated financial forecasts
Collaboration and sharing
Funding and investor tools
Exporting and integrations
Auto-generated financial reports
Automated text writing

Enloop’s monthly subscription plans range between $19.95 and $39.95, depending on your plan and functionalities. It also has a 7-day free trial with no credit card details required.

What I didn't like about Enloop?

Here are the average user ratings, comparing the experiences on Enloop and Upmetrics.

4. IdeaBuddy

Ideabuddy is an innovative business plan software helping new-age entrepreneurs turn their ideas into successful business plans.

Customizable templates, industry-based guides, and streamlined idea and business plan creation make it one of the most user-friendly applications on the list.

It is designed on a principle where users can develop, test, and launch their business idea—all in one place. While it’s great for idea creation, it may lack several comprehensive business planning features.

Financial forecasting is vital to a business plan, but IdeaBuddy may not provide all the necessary financial tools for accurate projections.

So if your business is in the idea stage—choosing IdeaBuddy could be a fair call, but if you plan to build a comprehensive business plan, you need another tool.

IdeaBuddy provides a wide range of features, which may include:

Modern business plan with a click
Export your plan and financials
Mobile-friendly platform
Customizable templates and industry-based guides
Test to score your idea
Step-by-step business guide
Brainstorm ideas with your team

IdeaBuddy’s subscription model consists of four plans: free, dreamer, founder, and team pro.

Depending on the plan specifications and features, these plans may cost between $15 to $40 a month. You can also save up to 60% on annual memberships.

What I didn't like about IdeaBuddy?

Here are the average user ratings, comparing the experiences on IdeaBuddy and Upmetrics.

Planful is a business planning and financial performance management cloud software. It provides a structured framework for industry-wide businesses to develop, track, and execute their plans.

The tool specializes in financial performance management with advanced features like—financial close management, reporting, and consolidation.

While the tool has numerous advanced features and functionalities—they all come with a high price tag as it’s mainly designed for medium and large-scale enterprises.

Let’s have a look at the extensive financial tools and features you may get with a planful subscription:

Budgeting and forecasting
Financial consolidation
Scenario modeling
Reporting and analytics
Financial close management
Data integration and connectivity
Responsive web and mobile apps

Planful has no structured pricing model on their website; users may contact their sales team for a custom quotation.

What I didn't like about Planful?

6. iPlanner

iPlanner is an enterprise business plan software that has been helping entrepreneurs develop their business plans since 2007. It is suitable for businesses looking to secure funding, better understand and manage risks, or communicate the company’s business model and strategy to the team.

Though the business plan software has been around for over a decade now, it didn’t seem to cope with the technological advancements, so it may not provide the most intuitive and visually appealing user interface.

But if you are searching for an affordable business planning and performance tracking tool with KPIs, analytics, and reporting features, iPlanner can be a good investment.

Here’s an overview of the key features of iPlanner—business plan software:

Financial forecasting
Secure and accessible
Data security and backup
How to articles and guides

iPlanner’s subscription model consists of two plans: professional and corporate. Professional subscriptions start at $24 for a 3-month subscription with one project, while corporate subscriptions start at $59 for a 6-month subscription with 12 projects

What I didn't like about iPlanner?

7. PlanGuru

PlanGuru is a business planning software that helps entrepreneurs make better decisions, increase profits, and accomplish their business goals through strategic business planning and accurate forecasting.

Budgeting & financial analytics, rolling forecast, and strategic planning are three critical components of PlanGuru’s feature list.

PlanGuru specializes in forecasting financial statements, scenario analysis, budgeting, and gaining insights through reporting tools.

It offers many advanced financial forecasting features but is quite expensive— making it unsuitable for startups with limited investment capital.

PlanGuru provides a wide range of financial tools and business planning features to create business plans, which may include:

Business valuation tool
20+ standard forecast methods
Budget/forecast for up to 10 years
Archive budget feature
Standard report export to PDF, Excel, and Word
Custom report builder for Excel
Online dashboard, scorecard, and reporting tools

PlanGuru has two different pricing plans; one for businesses and nonprofits and another for business advisors. Depending on the plan specifications and features, these plans may cost between $99 and $299/month.

What I didn't like about PlanGuru?

8. The Business Plan Shop

The Business Plan Shop is a business & financial planning and analysis platform for small and medium-sized business owners and financial advisors.

Its business plan templates make writing a business plan relatively easier for beginners. Despite its many features, the business plan software specializes in financial analysis, forecasting, and KPI tracking.

It surely has a few advanced features but can be expensive for startups and small businesses.

This business plan software provides a wide range of features, which may include:

Financial forecasting software
Sync accounting data
Drag and drop templates and editor
Integration with financial data
Faster than Microsoft Word

The Business Plan Shop has two different pricing plans; one for businesses and CFOs and another for advisors. The business & CFO plan costs $25.50 per month, and the Advisor plan costs $94.20 per month.

What I didn't like about The Business Plan Shop?

Bizplan is a comprehensive business plan software helping startups, entrepreneurs, and small business owners create business plans with direct access to planning experts.

Financial tools help create detailed financial projections and financial and cash flow statements in no time, so entrepreneurs can spend more time growing and scaling their businesses.

The platform also has a fundraising tool to help startups connect with potential investors—which has already helped raise over $500 million for startups.

It has all the features to create a basic business plan but may lack industry-specific guidance or assistance.

Let’s have a look at the wide range of features that come with a Bizplan subscription:

Financial modeling
Integration and export
Reporting and presentation
Progress tracking
Step-by-step guidance

Bizplan’s pricing plans start at $29/month, whereas the lifetime access costs $349. You may check their pricing page for more information.

What I didn't like about Bizplan?

Here are the average user ratings, comparing the experiences on Bizplan and Upmetrics.

Brixx is a financial forecast software for cash flow, budgeting, and financial planning. Apart from helping users create a basic business plan, the platform also helps them with financial modeling, scenario planning, and goal tracking.

Its interactive charts and graphs can help you clearly present your financial data and cash flow statements for enhanced reader understanding.

Integrating Brixx and other accounting software automates the syncing of your actuals and forecasts, giving you a head start using Brixx.

The tool primarily focuses on financial projections and forecasting, so there are only a few features for other parts of the business plan.

Let’s have a look at the wide range of features that come with a Brixx subscription:

1-10 year financial forecasts
Professional charts and reports
Automated tax forecasts
Quick-start templates
Share plans in real-time
Business Resources
3-way forecasting

Brixx has four packages in its subscription model: Foundation, Essentials, Professional, and Enterprise. The pricing for these packages may range from $0 to $66 per month.

What I didn't like about Brixx?

How to Choose the Right Business Plan Software?

All the business plan tools on our list are credible and can help you create a winning business plan. However, it’s critical to understand each tool specializes in certain aspects of business planning.

Let’s understand which factors to consider while choosing the right tool to help you create a professional business plan:

The most obvious factor. Ask yourself how much you can afford to spend on a business plan maker.

A free or low-cost tool may provide only some necessary functionalities to create a detailed plan. So, figure out your budget and shortlist the tools that you can afford to invest in.

2. Your specific requirements

The next step. Learn your specific requirement. For instance, if your business is in the idea stage, you may not require a tool with advanced financial features like—PlanGuru; Ideabuddy may work.

Both tools cater to specific audiences; if you are not sure, you may go with Upmetrics. It has pricing plans suitable for all business sizes.

3. Business plan templates

Custom designing a business plan can be tedious, so make sure the business plan software you choose has industry-specific templates to help you get started.

4. AI assistance

Artificial Intelligence has revolutionalized the way people get their things done. Make sure you select a platform that also provides AI assistance while creating a business plan.

With tools like ChatGPT and AI business plan generators, you can draft a business plan in a breeze.

5. Charts and graphs

Let’s face it, no one likes to read long paragraphs. The tool you choose must be able to turn your financial data and balance sheets into appealing and easy-to-understand charts and graphics.

6. Financial projections

Most critical section of a business plan. Understand your requirement regarding financial projections and the level of features the tool provides.

For instance, a large-scale organization may require a tool that can easily do business financials for ten or more years.

7. Contribution and sharing features

Make sure the tool you choose must provide the contribution and sharing features so that you can work with multiple team members.

8. Convenience and user-friendliness

A no-brainer. Ensure the software you choose has a user-friendly user interface and a manageable learning curve to understand all the working features.

9. Integrations

Some of the best business plan software integrates with accounting software. This feature can be handy while transferring financial details into your business plan.

10. Step-by-step guides

These user guides and tutorials can help you easily outline and prepare the first draft of your business plan, so make sure you consider this as one of the factors while selecting a tool.

11. Support

You are new to business planning software and may need help using some of its features. A responsive support team can help you get back on the right track.

Think of these factors as a checklist while researching the right business plan software. Once you have checked off all the boxes, you will have the right business plan software by your side.

Pros and Cons of Using Business Plan Software

Undoubtedly, business plan software can be a worth-it investment for your business, but it surely has a few disadvantages too. Let’s get to that:

Time Saving: business plan software can be a big time-saving investment.
Step-by-step guidance: These guides make it easier to get started for beginners.
Accurate reporting: Good business plan software guarantee the accountability and accuracy of the reports generated.
Customizations: Business plan tools also offer options to personalize your reports.
Generic templates: These planning tools often provide generic templates that may not suit your requirements.
Limited flexibility: In terms of formatting, content, design, and layout.
Learning curve: Using these tools requires a learning curve to navigate the software.

There have to be a few disadvantages, but they are negligible when you look at the positive side of having a business plan software onboard.

And this section leads us to our conclusion!

That was the article for today with some of the best business plan software. Now over to you. Revisit the top business planning software on the list, do your research, and select the one that best suits your requirements.

Got any more burning questions in mind? The FAQ section starts right after we wrap this article up, feel free to explore. Happy business planning!

Other Business Plan Software Alternatives

Best 8 Liveplan alternatives
Top Bizplan alternatives & competitors
8 Growthink alternatives
Best Ideabuddy Alternatives
Best Enloop Alternatives

Say No to Expensive Business Planning Software!

Get Affordable and Feature-Packed Business Planning with Upmetrics

Frequently Asked Questions

What is the best business plan software for startups.

We’ve already mentioned the best business plan software in the blog post earlier; you may choose one amongst those depending on your specific needs.

However, Upmetrics can be a go-to business planning software for startups as it only costs $9 per month to get started—which is worth it against the value you get.

Which tool is used as a one-page business plan?

There are many business plan software providing features to create one-page business plans like—Upmetrics and Ideabuddy. You can use Upmetrics’ canvas modeling feature to develop actionable and entrepreneur-focused one-page business plans.

Can I write a business plan myself?

Of course, you can. It’s easier than ever to write a business plan with the emerging use of tools like ChatGPT. Though you can write a business plan, you need assistance making it presentable for your investors.

And business plan software providers like Upmetrics can help you do that. With 200+ sample business plans, you can easily write the first draft of your business plan.

What is the best way to write a business plan?

There cannot be a standard answer to this question. There are various business planning processes, and all of them might not work for you. Still, considering the time-saving approach, using an industry-specific template and editing it as per your requirements can be an easy way to write a business plan.

Using ChatGPT for business plan writing can also be one of the best ways to write a business plan. As mentioned, there can’t be a specific answer to this question; find a way that best suits your needs.

Is there any free business plan software available?

It’s really challenging to find the perfect business plan software, that too, for free. IdeaBuddy from our list has a free plan, but it comes with very limited features, not so helpful for creating a business plan.

Business plan software like Upmetrics, Bizplan, and LivePlan also have free trials, so you may try their features before purchasing. Furthermore, you can get a 30% off on an Upmetrics subscription if you are a nonprofit or student.

How much does business plan software typically cost?

The cost of a business plan software can widely depend on the level of features and functionalities they provide. Still, the monthly subscription of a business plan tool can range anywhere between $5 to $300.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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5 Best Business Plan Software and Tools in 2023 for Your Small Business

Data as of 3 /13/23 . Offers and availability may vary by location and are subject to change.

We are committed to sharing unbiased reviews. Some of the links on our site are from our partners who compensate us. Read our editorial guidelines and advertising disclosure .

A business plan can do a lot for your business. It can help you secure investors or other funding. It can give your company direction. It can keep your finances healthy. But, if we’re being honest, it can also be a pain to write.

Luckily, you don’t have to start from scratch or go it alone. Business plan software and services can help you craft a professional business plan, like our top choice LivePlan , which provides templates, guidance, and more.

You’ve got quite a few choices for business plan help, so we’re here to help you narrow things down. Let’s talk about the best business plan tools out there.

LivePlan : Best overall
BizPlanBuilder : Most user-friendly
Wise Business Plans : Best professional service
Business Sorter : Best for internal plans
GoSmallBiz.com : Most extra features
Honorable mentions

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LivePlan: Best overall business plan software

Data as of 3 /13/23 . Offers and availability may vary by location and are subject to change. *With annual billing

LivePlan has been our favorite business plan software for a while now, despite the stiff competition.

There’s a lot to like about LivePlan. It has pretty much all the features you could want from your business plan software. LivePlan gives you step-by-step instructions for writing your plan, helps you create financial reports, lets you compare your business’s actual financials to your plan’s goals, and much more. And if you ever need inspiration, it includes hundreds of sample business plans that can guide your writing.

LivePlan software pricing

But the best part? You get all that (and more) at a very competitive price. (You can choose from annual, six-month, or monthly billing.) While LivePlan isn’t quite the cheapest business plan builder out there, it’s not too far off either. And if comes with a 60-day money back guarantee. So there’s no risk in trying LivePlan out for yourself.

With a great balance of features and cost, LivePlan offers the best business plan solution for most businesses.

BizPlanBuilder: Most user-friendly

Need something easy to use? BizPlanBuilder fits the bill.

BizPlanBuilder doesn’t have a flashy, modern user interface―but it does have a very clear, intuitive one. You’ll be able to see your plan’s overall structure at a glance, so you can quickly navigate from your title page to your market trend section to that paragraph on your core values. And as you write, you’ll use a text editor that looks a whole lot like the word processing programs you’re already familiar with.

BizPlanBuilder software pricing

Data effective 3/13/23. At publishing time, amounts, rates, and requirements are current but are subject to change. Offers may not be available in all areas.

BizPlanBuilder also offers lots of helpful guidance for actually writing your plan. It gives you pre-written text, in which you just have to fill in relevant details. It offers explanations for what information you need to include in each section of your plan and way. It even gives you helpful tips from experts, so you’ll have all the information you need to plan like a pro.

So if you want planning software with almost no learning curve, you’ll like BizPlanBuilder.

Wise Business Plans: Best professional service

Custom quote

Unlike all the other companies on this list, Wise Business Plans doesn’t offer software. Instead, it offers professional business plan writing services―meaning someone does all the hard work for you.

Now, you might think that sounds expensive―and you’re probably right (you have to request a custom quote for your plan). But there’s a lot to be said for expertise, and Wise Business Plans has plenty of that. Your business plan will get written by an experienced writer (with an MBA, no less). They’ll get information from you, do their own research, and then write your plan. You get one free revision, and you can always pay for more.

Wise Business Plans service pricing

Your end result will be a polished, entirely original business plan. (You can even get printed copies.) And best of all, you won’t have to spend your precious time working on the plan yourself. Wise Business Plans takes care of all the hard parts, and makes your business look good while doing it. Sounds like a service worth paying for, right?

Put simply, if you want the most professional business plan possible, we recommend using Wise Business Plans’s writing service.

Business Sorter: Best for internal plans

Many businesses need plans to show to people outside the company (to get financing, for example). But what if you just need a plan for internal use? In that case, we suggest Business Sorter.

Business Sorter uses a unique card-based method to help you craft the perfect business plan. (You can watch a demo video to see how it works.) You’ll plan some of the usual things, like finances and marketing. But Business Sorter also lets you make plans for specific teams and team members. It also emphasizes more internal matters, like operations, that might get overlooked in a business plan for outsiders.

Business Sorter software pricing

After you’ve made your business plan, Business Sorter also helps you stay accountable to it. You can create tasks, give them deadlines, and assign them to team members―giving you basic project management tools to make sure your business plans become business actions. (Oh, and did we mention that Business Sorter has the lowest starting prices of any software on this list?)

It all adds up to a business plan software that works great for internal planning.

GoSmallBiz: Most extra features

Want to get way more than just business planning software? Then you probably want GoSmallBiz.

See, GoSmallBiz offers business plan software as part of its service―but it’s just one part of a much bigger whole. You also get everything from discounts on legal services to a website builder to a CRM (customer relationship manager) to business document templates. And more. In other words, you get just about everything you need to get your startup off the ground.

GoSmallBiz software pricing

Don’t worry though―you still get all the business planning help you need. GoSmallBiz gives you business plan templates, step-by-step instructions, and the ability to create financial projections. And if you get stuck, GoSmallBiz will put you in touch with experts who can offer advice.

If you want business planning and much, much more, give GoSmallBiz a try.

PlanGuru : Best financial forecasting
EnLoop : Cheapest tool for startups

We recommend the software above for most business planning needs. Some businesses, though, might be interested in these more specialized planning software.

Honorable mention software pricing

Planguru: best financial forecasting features.

PlanGuru is pretty pricey compared to our other picks, but you might find its forecasting features worth paying for. It has more forecasting methods than other software (over 20) plus it lets you forecast up to 10 years.

EnLoop: Cheapest tool for startups

EnLoop doesn’t have our favorite features or interface, but it does have really, really low pricing plus a seven-day free trial. It's the most affordable software for startup business planning and still provides all the essential features like financial analysis, team collaboration, charting, and more.

Data as of 3 /13/23 . Offers and availability may vary by location and are subject to change. * With annual billing

Several of our previous favorite planning software, including BusinessPlanPro and StratPad, seem to have gone out of business.

A business plan is a written, living document that tells the story of your business and what you plan to do with it. It serves as the source of truth for you—the business owner—as well as potential partners, employees, and investors, but it also serves as a roadmap of what you want your business to be.

Why you need a business plan

While some small-business owners don’t see the point of creating a formal business plan, it can have some concrete benefits for your business. For example, one 2016 study found that business owners with written plans are more successful than those that don’t. 1

Still too vague? Then let’s get specific.

If you ever seek business funding (from, say, banks, angel investors , or venture capitalists ), you’ll have to prove that your business deserves the money you want. A formal business plan―complete with financial data and projections―gives you a professional document you can use to make your case. (In fact, most potential investors will expect you to have a business plan ready.)

Even if you’re not seeking funding right now, a business plan can help your business. A formal plan can guide your business’s direction and decision making. It can keep your business accountable (by, for example, seeing if your business meets the financial projections you included). And a formal plan offers a great way to make sure your team stays on the same page.

What to include in your business plan

Not all business plans are created equal. To make a really useful business plan, you’ll want to include a number of elements:

Basic information about your business
Your products/services
Market and industry analysis
What makes your business competitive
Strategies and upcoming plans
Your team (and your team’s background)
Current financial status
Financial and market projections
Executive summary

Of course, you can include more or fewer elements―whatever makes sense for your business. Just make sure your business plan is comprehensive (but not overwhelming).

How business plan software can help

With so many elements to include, business plan creation can take a while. Business plan software tries to speed things up.

Most business plan software will include prompts for each section. In some cases, you can just fill in your business’s specific information, and the software will write the text for you. In other cases, the software will give you specific guidance and examples, helping you write the text yourself.

Plus, business plan software can help you stay organized. You’ll usually get intuitive menus that let you quickly flip through sections. So rather than endlessly scrolling through a long document in a word processor, you can quickly find your way around your plan. Some software even lets you drag and drop sections to reorganize your plan.

Sounds way easier than just staring at a blank page and trying to start from scratch, right?

Choosing business plan software

To find the right business plan builder for your business, you’ll want to compare features. For example, would you rather write your own text, getting prompts and advice from your software? Or would you rather go with a fill-in-the-blank method?

Likewise, think about the elements you need. If your plan will have a heavy focus on finances, you’ll want to choose business plan software with robust financial projection features. If you care more about market and competitor analysis, look for software that can help with that research.

You may also want to find business plan software that integrates with your business accounting software . Some plan builders will import data from Xero, QuickBooks, etc. to quickly generate your financial data and projections.

And of course, you’ll want to compare prices. After all, you always want to end up with software that fits your business budget.

The right business plan software can make your life easier. With LivePlan ’s wide breadth of features and online learning tools, you can’t go wrong. Plus, BizPlanBuilder 's one-time pricing makes it easy to invest while Business Sorter has a low starting cost. And if you're business is looking to grow, GoSmallBiz and Wise Business Plans will scale with you.

But of course, different companies have different needs. So shop around until you find the software that’s best for you and your business.

Now that you've got a business plan, take a look at our checklist for starting a small business. It can help you make sure you have everything else you need to get your startup off to a good start!

Methodology

We ranked business plan software and tools based on features, pricing and plans, and connections to project management and other services. The value of each plan and service, along with what it offers, was a big consideration in our rankings, and we looked to see if what was offered was useful to small businesses or just extra. The final thing we looked at was the ease of use of the software to see if it's too complex for small businesses.

At Business.org, our research is meant to offer general product and service recommendations. We don't guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services.

Sources 1. Harvard Business Review, “ Research: Writing a Business Plan Makes Your Startup More Likely to Succeed .” Accessed March 13, 2023.

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Frequently Asked Questions

What is a business plan and why is it important.

Initiate with Your Business Concept: Lay the Groundwork: Start by introducing your business idea into Plannit AI's Business Plan Generator. This first step is crucial, as it sets the tone for a tailored, insightful business plan that truly resonates with your vision. Capture the Essence: Our platform is designed to grasp the nuances of your concept, ensuring that the generated plan accurately reflects the core and potential of your business.
Navigate Through the AI-Guided Questionnaire: Tailored Interactive Experience: Plannit AI’s AI-guided questionnaire is your interactive guide through the planning process. It meticulously gathers information about your business's objectives, strategies, and market positioning, ensuring a comprehensive and reflective plan. Intelligent Feedback and Suggestions: As you progress through the questionnaire, benefit from smart prompts and suggestions, ensuring that your plan is not just detailed but also strategically sound and aligned with industry standards.
Generate Your Plan with Advanced AI: Intuitive Plan Creation: With the questionnaire complete, Plannit AI's advanced algorithms intelligently analyze your responses. They then craft a detailed, customizable, and strategically aligned business plan, providing you with a structured, coherent, and actionable format. Benefit from AI-Powered Insights: Plannit AI offers AI-driven insights and suggestions, ensuring your plan is not just a document but a strategic tool equipped with tailored AI prompts and an in-app plan editor. Get inspired by browsing through our sample business plans, a collection of successful strategies across various industries.
Finalize Your Plan with Confidence: Dynamic Adaptation and Refinement: Plannit AI recognizes that a business plan is a living document. Our platform allows for continuous adaptation and refinement, ensuring your strategy remains agile, relevant, and aligned with your evolving business goals. Professional Presentation and Sharing: Once your plan meets your standards, utilize Plannit AI's export features to present your plan professionally. Choose between various formats for exporting your business plan, ready to impress stakeholders, attract investors, or guide your team. Review and Adapt: Ensure your business plan is a living document, ready to evolve with your growing business. Plannit AI's dynamic platform allows you to adapt your strategy as new opportunities or challenges arise.

How to Write a Business Plan?

Roadmap for Success: At its core, a business plan acts as a strategic guide, providing detailed steps on how your business will achieve its objectives. It helps you navigate the startup phase, manage growth effectively, and tackle unforeseen challenges with a well-thought-out strategy.
Securing Funding: For startups and businesses looking to expand, a business plan is crucial for securing loans or attracting investors. It demonstrates to potential financial backers that your business has a clear vision, a solid strategy for profitability, and a plan for delivering returns on their investment.
Informed Decision-Making: A well-prepared business plan offers valuable insights into your market, competition, and potential challenges. This information is vital for making informed decisions, from day-to-day operations to long-term strategic shifts.
Market Analysis and Strategy: It allows you to conduct an in-depth analysis of your target market, understand customer needs, and position your product or service effectively. The marketing strategy outlined in your business plan helps in identifying the best channels and tactics to reach your audience and achieve market penetration.
Financial Planning: One of the most critical components of a business plan is the financial forecast. It outlines your funding requirements, expected revenue, profit margins, and cash flow projections. This section is essential for budgeting, financial management, and ensuring the financial viability of your business.
Goal Setting and Performance Measurement: A business plan sets clear, measurable goals and objectives. It provides a framework for monitoring performance, measuring success, and making necessary adjustments to stay on track.

Who Can Benefit from Plannit AI?

Aspiring Entrepreneurs: If you're at the idea stage, looking to transform your vision into a viable business, Plannit AI offers the tools and guidance to bring your concept to life. Our platform helps you articulate your business idea, define your target market, and develop a solid plan to turn your dream into reality.
Students and Educators: For students delving into the intricacies of business planning and educators teaching the fundamentals of entrepreneurship, Plannit AI serves as an invaluable resource. It provides a practical, hands-on tool for learning and teaching how to create detailed business plans, analyze markets, and understand financials in a real-world context.
Startup Founders: In the dynamic startup environment, Plannit AI is the ideal partner for founders looking to pivot quickly, secure funding, or understand their competitive landscape. With our AI-driven insights and market analysis tools, startups can make informed decisions and adapt their strategies to thrive in competitive markets.
Small Business Owners: For small business owners seeking to optimize their operations, expand their customer base, or explore new markets, Plannit AI offers targeted solutions. Our platform simplifies the planning process, enabling owners to focus on growth while managing the day-to-day challenges of running their business.
Consultants and Freelancers: Consultants and freelancers specializing in business development, strategic planning, or financial advising will find Plannit AI a powerful addition to their toolkit. It allows them to provide clients with comprehensive, data-driven business plans and strategies, enhancing the value of their services.
Non-Profit Organizations: Leaders of non-profit organizations can leverage Plannit AI to plan initiatives, secure funding, and manage resources more efficiently. Our platform helps non-profits articulate their mission, set achievable goals, and measure their impact, ensuring they can make a difference in their communities.
Innovators and Inventors: Individuals looking to commercialize innovative products or technologies can use Plannit AI to navigate the complexities of bringing new ideas to market. From patent strategies to go-to-market plans, our platform covers all bases, ensuring innovators can focus on what they do best.
Small Business Development Centers (SBDCs) and Government Agencies: Government and SBA backed entities can greatly benefit from integrating Plannit AI into their services, enhancing their ability to support a larger number of clients more efficiently. By facilitating quicker, more in-depth business plan development, these organizations can spend more time assisting with plan execution and less time on creation, ultimately serving their communities more effectively.
Anyone with a Business Idea: Ultimately, Plannit AI is for anyone with a business idea, regardless of industry, experience, or stage of business development. Our mission is to democratize business planning, making it accessible, understandable, and actionable for everyone.

Why is Plannit AI the best choice for an AI business planning software?

Interactive Questionnaire and ChatGPT Integration: Plannit AI transforms the business planning process into an engaging conversation. Through our advanced ChatGPT integration, we offer a questionnaire that dynamically adapts to your responses, ensuring your plan is personalized, comprehensive, and aligned with your business goals.
Dynamic Planning Environment: Unlike static templates provided by many, Plannit AI introduces a living platform that grows with your business. It features real-time updates, strategic insights, and a feedback mechanism that keeps your business plan current and actionable.
Extensive Educational Resources: Our Education Center is packed with articles, guides, and sample plans to bolster your planning process. It's designed to arm you with the knowledge to navigate the complexities of your industry confidently.
Enhanced Collaboration and Customization: Recognizing the collaborative essence of business planning, Plannit AI supports team efforts with multi-user editing, annotations, and feedback features, ensuring a comprehensive approach to your strategy.
Customer Success Stories: Our users' achievements are a testament to Plannit AI's effectiveness. These success stories illustrate how diverse businesses have utilized our platform for strategic planning and growth.
Tailored Business Plan Creation: Our platform stands out with its tailored approach, featuring customizable templates that directly cater to your business type and industry, making plan creation straightforward and relevant.

How can ChatGPT help me to create business plans?

Content Generation:: ChatGPT helps draft various sections of a business plan, from executive summaries to marketing strategies, by providing structured and coherent text based on the prompts given.
Strategic Insights: It can offer suggestions on business strategies by analyzing trends and providing examples from a wide range of industries.
Financial Planning: While it can't replace professional financial advice, ChatGPT can guide the structure of financial projections and statements, helping you consider important financial aspects of your plan.

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What Is a Business Plan?

Understanding business plans, how to write a business plan, common elements of a business plan, how often should a business plan be updated, the bottom line, business plan: what it is, what's included, and how to write one.

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master's in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem.

A business plan is a document that details a company's goals and how it intends to achieve them. Business plans can be of benefit to both startups and well-established companies. For startups, a business plan can be essential for winning over potential lenders and investors. Established businesses can find one useful for staying on track and not losing sight of their goals. This article explains what an effective business plan needs to include and how to write one.

Key Takeaways

A business plan is a document describing a company's business activities and how it plans to achieve its goals.
Startup companies use business plans to get off the ground and attract outside investors.
For established companies, a business plan can help keep the executive team focused on and working toward the company's short- and long-term objectives.
There is no single format that a business plan must follow, but there are certain key elements that most companies will want to include.

Investopedia / Ryan Oakley

Any new business should have a business plan in place prior to beginning operations. In fact, banks and venture capital firms often want to see a business plan before they'll consider making a loan or providing capital to new businesses.

Even if a business isn't looking to raise additional money, a business plan can help it focus on its goals. A 2017 Harvard Business Review article reported that, "Entrepreneurs who write formal plans are 16% more likely to achieve viability than the otherwise identical nonplanning entrepreneurs."

Ideally, a business plan should be reviewed and updated periodically to reflect any goals that have been achieved or that may have changed. An established business that has decided to move in a new direction might create an entirely new business plan for itself.

There are numerous benefits to creating (and sticking to) a well-conceived business plan. These include being able to think through ideas before investing too much money in them and highlighting any potential obstacles to success. A company might also share its business plan with trusted outsiders to get their objective feedback. In addition, a business plan can help keep a company's executive team on the same page about strategic action items and priorities.

Business plans, even among competitors in the same industry, are rarely identical. However, they often have some of the same basic elements, as we describe below.

While it's a good idea to provide as much detail as necessary, it's also important that a business plan be concise enough to hold a reader's attention to the end.

While there are any number of templates that you can use to write a business plan, it's best to try to avoid producing a generic-looking one. Let your plan reflect the unique personality of your business.

Many business plans use some combination of the sections below, with varying levels of detail, depending on the company.

The length of a business plan can vary greatly from business to business. Regardless, it's best to fit the basic information into a 15- to 25-page document. Other crucial elements that take up a lot of space—such as applications for patents—can be referenced in the main document and attached as appendices.

These are some of the most common elements in many business plans:

Executive summary: This section introduces the company and includes its mission statement along with relevant information about the company's leadership, employees, operations, and locations.
Products and services: Here, the company should describe the products and services it offers or plans to introduce. That might include details on pricing, product lifespan, and unique benefits to the consumer. Other factors that could go into this section include production and manufacturing processes, any relevant patents the company may have, as well as proprietary technology . Information about research and development (R&D) can also be included here.
Market analysis: A company needs to have a good handle on the current state of its industry and the existing competition. This section should explain where the company fits in, what types of customers it plans to target, and how easy or difficult it may be to take market share from incumbents.
Marketing strategy: This section can describe how the company plans to attract and keep customers, including any anticipated advertising and marketing campaigns. It should also describe the distribution channel or channels it will use to get its products or services to consumers.
Financial plans and projections: Established businesses can include financial statements, balance sheets, and other relevant financial information. New businesses can provide financial targets and estimates for the first few years. Your plan might also include any funding requests you're making.

The best business plans aren't generic ones created from easily accessed templates. A company should aim to entice readers with a plan that demonstrates its uniqueness and potential for success.

2 Types of Business Plans

Business plans can take many forms, but they are sometimes divided into two basic categories: traditional and lean startup. According to the U.S. Small Business Administration (SBA) , the traditional business plan is the more common of the two.

Traditional business plans : These plans tend to be much longer than lean startup plans and contain considerably more detail. As a result they require more work on the part of the business, but they can also be more persuasive (and reassuring) to potential investors.
Lean startup business plans : These use an abbreviated structure that highlights key elements. These business plans are short—as short as one page—and provide only the most basic detail. If a company wants to use this kind of plan, it should be prepared to provide more detail if an investor or a lender requests it.

Why Do Business Plans Fail?

A business plan is not a surefire recipe for success. The plan may have been unrealistic in its assumptions and projections to begin with. Markets and the overall economy might change in ways that couldn't have been foreseen. A competitor might introduce a revolutionary new product or service. All of this calls for building some flexibility into your plan, so you can pivot to a new course if needed.

How frequently a business plan needs to be revised will depend on the nature of the business. A well-established business might want to review its plan once a year and make changes if necessary. A new or fast-growing business in a fiercely competitive market might want to revise it more often, such as quarterly.

What Does a Lean Startup Business Plan Include?

The lean startup business plan is an option when a company prefers to give a quick explanation of its business. For example, a brand-new company may feel that it doesn't have a lot of information to provide yet.

Sections can include: a value proposition ; the company's major activities and advantages; resources such as staff, intellectual property, and capital; a list of partnerships; customer segments; and revenue sources.

A business plan can be useful to companies of all kinds. But as a company grows and the world around it changes, so too should its business plan. So don't think of your business plan as carved in granite but as a living document designed to evolve with your business.

Harvard Business Review. " Research: Writing a Business Plan Makes Your Startup More Likely to Succeed ."

U.S. Small Business Administration. " Write Your Business Plan ."

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Writing a business plan: Your step-by-step guide

Learn how to write a sound business plan that will help set up your business for success.

Learning how to write a sound business plan is an essential first step toward creating a successful business. Simply put, a business plan explains exactly what your product or service is and why people want to purchase it, as well as how you will tackle any environmental and market risks. It can also help you clarify what you want to achieve and plan exactly how you will reach those goals. This, in turn, can help you motivate your team, promote your business, and make key decisions.

A strong business plan also serves as an important communication tool for potential investors and lenders. It will allow you to articulate your current financial status, any sources of revenue, and how you plan to meet revenue projections. Although a business plan isn’t required for all types of credit, it often plays a significant role in SBA loan applications . While no two business plans are alike, every plan should cover the following elements.

Executive summary: Define your business

Your plan’s executive summary is your chance to introduce the business — so it needs to be concise and compelling. The summary should give a brief recap of the history and background of your business in a manner that will make the reader want to learn more about your plan. Sometimes it’s helpful to write this last — after you’ve spent some time contemplating and articulating all the details of your business.

Company summary: Delve into the details

Your business plan should explain what your product or service is and why people and businesses will want to purchase it. Be sure to highlight areas where your product or service has a clear advantage over the competition. Also, include details about pending or established copyrights or trademarks, and present or future plans for research and development (R&D).

Market analysis: Outline your strategy

A market analysis centers on the marketability of your business, who your competitors are and how you fit into the competitive landscape. In the analysis, give detailed information about your business’s industry, including the size of the market, your target market, the market need, and barriers to entry such as supply issues and regulation. Also, include information on any market tests you have conducted and identify your direct and indirect competition.

Marketing plan: Identify your niche

Here, you’ll highlight how you plan to promote your business and generate revenue. Describe in detail what your product or service does and how it will help consumers. Explain how your product is unique from others on the market, and how you will promote your business and generate revenue. Also, provide details about the product life cycle and any intellectual property issues. (Note: Some of this may reiterate or expand upon information elsewhere in your business plan.) You can protect your intellectual property , which can include names, designs and automated process, through trademarks, copyrights, non-disclosure agreements and more.

Management overview: Introduce your leaders

To highlight your human capital, describe how your business will be organized in terms of structure and leadership. Let your reader know who does what and what qualifications they have. Summarize this in your writeup, but consider providing relevant resumes, too.

Financial summary: Develop your financial plan

The financial summary, which includes details about your company’s funding sources, existing debt , any grants , as well as financial analysis, are crucial areas to lay out in detail. Explain the amount of funding your business needs and provide supporting financial data as well as financial projections . Include documents that communicate your business’s current financial status, such as income statements, balance sheets, and cash flow statements. List your expectations for revenues as well as the cost of your goods, rent, fuel, utilities, salaries, and other expenses.

The final step: Organize it logically

There are many ways you can organize the information mentioned above so you can share it with potential investors and lenders, current and prospective team members and managers, and anyone else who needs to understand your vision.

Do your research and find a business plan format that works for your business. There can be different types of plans for different types of readers, i.e. investors vs. employees, so you can modify your plan depending on your audience.

A few things to keep in mind:

Make it easy to find key info . Create a cover page and table of contents, so information is easy to find. Also consider using dividers with tabs if you’re printing it out and putting it in a binder.
Add more details as they emerge . Depending on what you do or sell, you may also want to add a section on Action Plans, which includes information on regulations, legal and compliance issues, safety processes, operational and management plans, an employee handbook, delineations of job descriptions of your staff, and anything else you’ve put on paper (or into a digital document).
Consider using an Appendix . This is where you can store any supporting documents, including financial and market analyses, logo and branding examples, team resumes, and so on.

Your business plan should reflect changes in your business, the industry or the market. Make changes as necessary to incorporate the changing needs of customers or changing economic conditions in order to keep your plan current. Treating your business plan as a living document — and revising it regularly — can help you stay ahead of the competition and exceed your dreams.

Learn more:

There are several resources available to get you started with your business and business plan. Here are a few:

U.S. Small Business Administration
America’s Small Business Development Centers Network
SCORE Association

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What is a business plan?

1. write an executive summary, 2. describe your company, 3. state your business goals, 4. describe your products and services, 5. do your market research, 6. outline your marketing and sales plan, 7. perform a business financial analysis, 8. make financial projections, 9. summarize how your company operates, 10. add any additional information to an appendix, business plan tips and resources.

A business plan outlines your business’s financial goals and explains how you’ll achieve them over the next three to five years. Here’s a step-by-step guide to writing a business plan that will offer a strong, detailed road map for your business.

ZenBusiness

A business plan is a document that explains what your business does, how it makes money and who its customers are. Internally, writing a business plan should help you clarify your vision and organize your operations. Externally, you can share it with potential lenders and investors to show them you’re on the right track.

Business plans are living documents; it’s OK for them to change over time. Startups may update their business plans often as they figure out who their customers are and what products and services fit them best. Mature companies might only revisit their business plan every few years. Regardless of your business’s age, brush up this document before you apply for a business loan .

» Need help writing? Learn about the best business plan software .

This is your elevator pitch. It should include a mission statement, a brief description of the products or services your business offers and a broad summary of your financial growth plans.

Though the executive summary is the first thing your investors will read, it can be easier to write it last. That way, you can highlight information you’ve identified while writing other sections that go into more detail.

» MORE: How to write an executive summary in 6 steps

Next up is your company description. This should contain basic information like:

Your business’s registered name.

Address of your business location .

Names of key people in the business. Make sure to highlight unique skills or technical expertise among members of your team.

Your company description should also define your business structure — such as a sole proprietorship, partnership or corporation — and include the percent ownership that each owner has and the extent of each owner’s involvement in the company.

Lastly, write a little about the history of your company and the nature of your business now. This prepares the reader to learn about your goals in the next section.

» MORE: How to write a company overview for a business plan

The third part of a business plan is an objective statement. This section spells out what you’d like to accomplish, both in the near term and over the coming years.

If you’re looking for a business loan or outside investment, you can use this section to explain how the financing will help your business grow and how you plan to achieve those growth targets. The key is to provide a clear explanation of the opportunity your business presents to the lender.

For example, if your business is launching a second product line, you might explain how the loan will help your company launch that new product and how much you think sales will increase over the next three years as a result.

» MORE: How to write a successful business plan for a loan

In this section, go into detail about the products or services you offer or plan to offer.

You should include the following:

An explanation of how your product or service works.

The pricing model for your product or service.

The typical customers you serve.

Your supply chain and order fulfillment strategy.

You can also discuss current or pending trademarks and patents associated with your product or service.

Lenders and investors will want to know what sets your product apart from your competition. In your market analysis section , explain who your competitors are. Discuss what they do well, and point out what you can do better. If you’re serving a different or underserved market, explain that.

Here, you can address how you plan to persuade customers to buy your products or services, or how you will develop customer loyalty that will lead to repeat business.

Include details about your sales and distribution strategies, including the costs involved in selling each product .

» MORE: R e a d our complete guide to small business marketing

If you’re a startup, you may not have much information on your business financials yet. However, if you’re an existing business, you’ll want to include income or profit-and-loss statements, a balance sheet that lists your assets and debts, and a cash flow statement that shows how cash comes into and goes out of the company.

Accounting software may be able to generate these reports for you. It may also help you calculate metrics such as:

Net profit margin: the percentage of revenue you keep as net income.

Current ratio: the measurement of your liquidity and ability to repay debts.

Accounts receivable turnover ratio: a measurement of how frequently you collect on receivables per year.

This is a great place to include charts and graphs that make it easy for those reading your plan to understand the financial health of your business.

This is a critical part of your business plan if you’re seeking financing or investors. It outlines how your business will generate enough profit to repay the loan or how you will earn a decent return for investors.

Here, you’ll provide your business’s monthly or quarterly sales, expenses and profit estimates over at least a three-year period — with the future numbers assuming you’ve obtained a new loan.

Accuracy is key, so carefully analyze your past financial statements before giving projections. Your goals may be aggressive, but they should also be realistic.

NerdWallet’s picks for setting up your business finances:

The best business checking accounts .

The best business credit cards .

The best accounting software .

Before the end of your business plan, summarize how your business is structured and outline each team’s responsibilities. This will help your readers understand who performs each of the functions you’ve described above — making and selling your products or services — and how much each of those functions cost.

If any of your employees have exceptional skills, you may want to include their resumes to help explain the competitive advantage they give you.

Finally, attach any supporting information or additional materials that you couldn’t fit in elsewhere. That might include:

Licenses and permits.

Equipment leases.

Bank statements.

Details of your personal and business credit history, if you’re seeking financing.

If the appendix is long, you may want to consider adding a table of contents at the beginning of this section.

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We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

Here are some tips to write a detailed, convincing business plan:

Avoid over-optimism: If you’re applying for a business bank loan or professional investment, someone will be reading your business plan closely. Providing unreasonable sales estimates can hurt your chances of approval.

Proofread: Spelling, punctuation and grammatical errors can jump off the page and turn off lenders and prospective investors. If writing and editing aren't your strong suit, you may want to hire a professional business plan writer, copy editor or proofreader.

Use free resources: SCORE is a nonprofit association that offers a large network of volunteer business mentors and experts who can help you write or edit your business plan. The U.S. Small Business Administration’s Small Business Development Centers , which provide free business consulting and help with business plan development, can also be a resource.

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Practical Business Planning

Understanding the components of future success.

By the Mind Tools Content Team

Business planning is perhaps the most critical element of a successful business. It is also the element that many business owners neglect, or spend too little time on.

Why? Because it's a whole lot of work, and when you're in the throes of starting a new venture, there are probably far more pressing, or glamorous and exciting, things to be doing.

Yes, finding a great space to rent can be important. And yes, figuring out what to charge customers is essential too. But if you don't do those things within the context of the larger picture – the total business plan – you are likely to miss critical details that have the potential to doom your whole venture to failure.

Some people consider writing a business plan a necessary evil in order to get financing from a banker or investor, but this can be missing the point. A business plan is far more than a fancy sales tool; it is a powerful management tool to help you focus on your goals, set objectives and avoid potential pitfalls. The process of writing a business plan forces you to consider all the aspects of starting your venture, or taking it to the next stage; from identifying opportunities, to exploring risks, to putting figures to ideas.

Bottom line, the business plan makes you think, quantitatively and qualitatively, about why, what and how you are to proceed. It helps you think about the highs and the lows, the advantages and the disadvantages, the potential for success and for failure. While you might have a successful business without a business plan, it is far more likely that if you fail to plan, you will also fail to succeed.

Of course, you may find that when you look at your business idea in this detail, it simply doesn't stack up. Disappointing as this might be, it's far better to find this out on paper than suffer the cost and consequences of finding it out in practice.

Business planning is just as important for new projects as it is for new businesses. In this context, the "business plan" is usually called a "business case". The discipline of justifying what you plan to do in terms of what it will achieve, and how you will do it, will contribute greatly to the chances of your project succeeding.

What Will a Business Plan Show?

A Business Plan will help you examine your business concept and intentions for viability and sustainability. Along the way, you will discover invaluable information that you'll use over and over again. Here are ten of the top discoveries you will make as you write your business plan:

Exactly what your business will provide.
Who your customers are, and how able you are to meet their needs.
Who you competitors are, and what are their strengths and weaknesses are.
Potential obstacles to your success.
The capabilities of your core business team.
A well-defined marketing strategy to capture your share of the market.
Benchmarks and goals.
Financial projections and returns on investment.
How much money you need to start up.
What your investors will get out of the deal.

What Goes Into a Business Plan?

A good business plan contains dreams and ideas that are backed by facts and figures, and it's usually presented in a fairly standardized format. The following eight items are common sections in a business plan – once you have sufficient detail for each of these elements, you'll have the basis for a comprehensive and complete business plan.

Executive Summary.
Business Overview.
Products and Services.
Industry/Market Overview.
Marketing Strategy and Implementation Plan.
Operational Infrastructure.
Management Team Summary.
Financial Plan.

Each of these business plan sections is described briefly in the sections below. (Bear in mind that this is an introduction to business planning: you'll find links to more detailed – and country-specific – information at the end of the article.)

Depending on the nature of your business, and your own areas of expertise, you may need to call on other people's help and expertise to build you business plan, for example in marketing or financial planning. We also provide links to additional resources to help your business planning in more detail.

1. Executive Summary

It's the first thing people read, and it's the last thing you prepare. The aim of this section is to sum up your entire plan in such a way that leaves no doubt as to your business's viability and profitability, and your capability to manage it. An executive summary can be as short as a few paragraphs, and as long as two pages. Regardless of length, it must highlight the key points and conclusions from each of the sections that follow in your Business Plan.

2. Business Overview

The purpose of the Business Overview is to provide readers with an overall feel for what it is you are trying to accomplish and give the reader a more detailed look at your vision. The elements you provide details about are:

History – what led to your idea and this business concept?
Mission Statement – what are you in business to achieve?
Goals and Objectives – what are you striving for within the first year, and longer term horizon?
Ownership – are you a proprietor, partner, or corporation?
Location – what facilities will the business use?

3. Products/Services

Most businesses sell products or provide services. In this section your goal is to define clearly what you are providing to your customers, and how your offering is different or unique. It includes:

Products and/or Services – what are you selling and/or providing?
Production and/or Service Delivery – how will you acquire or provide those products or services?
Competitive Comparison – why will customers buy your products, and not that of someone else (this is really important, and we look at it again below.)
Future Products and Services – how do you expect your products/services to evolve and develop over the next year to five years?

4. Industry/Market Overview

This section is a summary of market research that helps determine if your business idea is profitable and sustainable. It defines your industry, discusses trends, outlines the customer/market needs that exist, examines buyer behavior and also looks at the competitive outlook in your market.

To address these points, you will of course need to conduct some market research. This enables you to back up your proposition with evidence. The marketing issues your research should address are:

Industry analysis – what's happening and what's changing in you industry? A good way to do this analysis is to use the PEST analysis tool, which looks at Political, Economic, Socio-Cultural and Technological factors. Another is to use Porter's Five Forces Analysis , which helps you think about the balance of power in the industry.
Market analysis – what are the characteristics of the market you operate in, what customer needs are being fulfillled, and how can this market and these customer needs be sub-divided?
Trends and outlook – what shift in consumer behavior may affect your business?
Buying behavior – how are purchases made and what influences buying decisions?
Industry participants – what are the main characteristics of the key players in your industry? Consider using SWOT Analysis to understand their strengths and weaknesses, and the opportunities and threats they face.
Competitive analysis – How will you offer a sufficiently different product or service to persuade customers to buy from you, and not from these already-established competitors? Consider using USP Analysis to think about your competitive position.

5. Marketing Strategy

The data from your market analysis can now be used to formulate your marketing strategy, and define how you will sell the product, and to whom.

Start by using SWOT analysis again, this time focused on yourself. What are the strengths, weakness, opportunities and threats facing the venture? This analysis shows you how you can align your strengths with the opportunities available and what contingencies you should prepare to deal with the weaknesses and threats you've identified.
Target Market – Who is your ideal customer? What specific need do you fulfilll? And thus what segments of the market will you serve? Is there a specific niche you can exploit?
Key Competitors – Who else is vying for you target market?
Competitive Position – How will you best communicate the unique reason that people should buy from you? And where should you communicate this message?
Pricing Strategy – What price will attract the customers you target? What price will make you the best profit?
Promotion Strategy – How will you brand and promote your business? Where will market and sell?

6. Operational Infrastructure

In this section you set out details of the equipment and facilities you will use to create your products and serve your customers. Depending on the nature of your business, these will include all or some of:

Premises – offices, workshops and storage facilities.
Equipment and machinery.
IT resources – Software and hardware, including accounting systems.

You should also include details of major suppliers on which you will rely for outsourced services as well as for key raw materials, and the nature of agreements you would make with them.

7. Management Team Summary

Here you explore your talents and ability to manage the business. This section includes an overview of the main people contributing to the day-to-day management of the business:

How does your background/business experience help you in this business?
Who will be on the management team? Include an organization chart.
What is your management philosophy?
What are your and your team's weaknesses and how can you compensate for them?
What are their duties? Are these duties clearly defined?
Do you have any personnel needs? If so, what is your plan for hiring and training?

8. Financial Plan

Don't let the numbers scare you – you don't need to be an accountant to be in business, but you do need to understand what you are reading and where the numbers came from. You financials will tell you whether or not what you intend to do will eventually be profitable. After all, there's not a lot of point to being in business if you can't make money. Make sure you cover:

Start-up Funds – Do you have enough capital to carry you through until you start achieving a positive cash flow?
Operating Budget – Where will you spend your money during the first year?
Financial Assumptions – What are you basing your projected numbers on?
Cash Flow Projection – Based on your educated assumptions, what income and expenses do you project? How long will it take to achieve a positive cash flow and when will you break even? See our article on Cash Flow Forecasting to find out how to do this.

If you feel a little uneasy about financial planning there are many sources of help available. Invest in one of many great books on starting a business, or consider asking for resources and advice from the small business manager at your local bank. Any new business venture needs good financial planning, and good ongoing financial management, so it's worth investing the time to learn these skills now, or getting someone involved with this expertise.

Business planning is an essential activity when thinking about a new business venture or project. By taking the time to discover all of the key facts and figures described in the seven business planning areas above, you'll gain an excellent grasp of how you're going to implement your ideas, and what financial investment, and gains, you can expect. If your business plan does not stack up, you can refocus your efforts now, on paper, and make the difference between business success and failure.

By learning the skills of business planning, you'll be in a great position to monitor and manage your business plan as your venture moves forward. The plan, and everything in, it is a moving feast, and you'll need to keep revisiting and challenging it as you progress. Your business plan is an essential foundation: keep building on it to ensure your business's success.

[1] Bplans.com. (2016). ‘Free Sample Business Plans’ [online]. (Available here .) [Accessed July 6, 2016.]

[2] Business.gov.au. (2016). ‘Business Plan Template & Guide’ [online]. (Available here .) [Accessed July 6, 2016.]

[3] Canadabusiness.ca. (2016). ‘Sample Business Plans and Templates’ [online]. (Available here .) [Accessed July 6, 2016.]

[4] Cranfield.ac.uk. (n.d.). ‘What Your Business Plan Should Include’ [online]. (Available here .) [Accessed July 6, 2016.]

[5] Gov.uk. (2016). ‘Write a Business Plan’ [online]. (Available here .) [Accessed July 6, 2016.]

[6] Icaew.com. (2011). ‘Writing a Business Plan’ [online]. (Available here .) [Accessed July 6, 2016.]

[7] Princes-trust.org.uk. (2016). ‘Business Plans and Templates’ [online]. (Available here .) [Accessed July 6, 2016.]

[8] Sba.gov. (2016). ‘Starting & Managing a Business’ [online]. (Available here .) [Accessed July 6, 2016.]

[9] Score.org. (2016). ‘Business Planning & Financial Statements Template Gallery’ [online]. (Available here .) [Accessed July 6, 2016.]

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Strategic Planning Tools for 2024

What is strategic planning, what are the benefits of strategic planning, types of strategic planning tools, which strategic planning method is right for your business, charting your course.

Ever feel like your small business is navigating a never-ending maze of decisions, deadlines, and daily demands? You're not alone. Small and midsize businesses (SMBs) struggle with many issues, like being short-staffed, having limited resources, and more. In this environment, making the right decisions and keeping things running can seem like monumental tasks.

But they don't have to be. Strategic planning can help you conquer this chaos. It's not a magic wand, but it's a structured step-by-step process that enables you to define your vision, set achievable goals, and chart a course for growth.

Strategic planning is the process of laying out a clear path for your business. It's about defining what you want to achieve, how you'll get there, and what steps you need to take along the way. Think of it as a map that guides you from where you are now to where you want to be.

SMBs often grapple with many challenges, including limited resources and fierce competition. Strategic planning is the antidote to these challenges. It's not just a theoretical exercise but a practical solution that allows you to identify, prioritize, and tackle the hurdles obstructing your path to success.

Strategic planning can unlock tangible benefits for your business by removing the obstacle of uncertainty and opening up a path to smoother, more efficient growth . Here are just a few of the benefits:

Sharper focus and increased clarity : By defining your core values, long-term goals, and target audience, you give everyone in your organization a shared understanding of where you're heading.

Improved decision-making: Strategic planning facilitates important big-picture conversations among leadership about capabilities, market forces, and scenarios. This aligns everyone on where they should be heading in the future.

Increased productivity: Strategic planning provides a roadmap for action, streamlining your workflow and maximizing your team's potential.

Better motivation and improved morale: By creating a shared vision and purpose, you give your team a reason to feel invested in the business's success, leading to a more engaged and productive workforce .

Greater adaptability: Strategic planning equips you with the tools to anticipate change and adapt quickly. By identifying potential risks and opportunities early on, you can develop contingency plans and adjust your course as needed.

There are many tools for strategic planning, each offering a unique perspective and approach. These tools serve as the strategic gears that set your business in motion toward its envisioned future.

According to Gartner, “CIOs should use strategic principles to provide a framework that ensures all decisions made when creating and executing strategy are aligned with the enterprise's objectives, goals, and strategies.” [1]

Strategic principles come first, and they guide how you use strategic planning frameworks. Here are some common strategic planning tools, along with strategic plan examples.

SWOT analysis

In SWOT analysis, strategic planning teams brainstorm to come up with several strengths, weaknesses, opportunities, and threats for their business and list those items in four quadrants.

Teams identify connections between the quadrants—especially connections between strengths and opportunities—to inform their strategy. The thing about SWOT analysis is that you can use it for annual strategic planning or everyday decision-making. Adapt SWOT analysis to a rapidly evolving market by using it at the individual project level.

For example, say your office cleaning service is considering expanding. Using SWOT, you could come up with the following assessment:

Strength: Efficient, established cleaning teams

Weakness: Limited client base

Opportunity: Expand services to home cleaning

Threat: Market is nearly saturated with existing home cleaning services

In this case, the business could match its strength to the opportunity to expand and leverage its experienced teams to make headway in an already competitive market.

OKRs work by establishing a clearly defined goal (the objective ) along with a handful of key results —that is, measurable checkpoints that are designed to achieve the target goal. Here is how it works:

Define your objective: Articulate a clear and inspiring goal that captures your team's aspirations.

Identify key results: Establish three to five measurable outcomes that, when achieved, will demonstrate meaningful progress toward your objective.

Track and adapt: Regularly assess your progress for each key result, typically on a quarterly or monthly basis.

The key to OKRs is their adaptability. They empower you to respond to shifts in market conditions, seize emerging opportunities, and pivot strategies when needed. An example is adapting to the Great Resignation:

Original objective: Achieve a 95% employee retention rate

By adjusting key results, the company can tackle the challenges of the Great Resignation head-on, fostering a more engaged and resilient workforce.

PEST analysis

With PEST (political, economic, socio-cultural, and technological) analysis, strategic planning teams weigh socioeconomic factors into their business forecasting . PEST analysis can also include legal and environmental factors (PESTLE analysis). For PEST analysis to be used effectively, it helps to have representatives on the strategic planning team with a working knowledge of the component factors.

PEST analysis is somewhat complex due to the breadth and depth of the factors it accounts for. On one hand, this necessitates an experienced strategic planning team to use PEST analysis effectively. On the other hand, this makes PEST adaptable to changing conditions. Think of each of the factors that make up PEST as levers. When the market changes, you may have to pull one or more of those levers to adjust your planning.

Here is an example of PESTLE analysis on the rise of electric vehicles:

Political: Government incentives for EV adoption

Economic: Fluctuations in oil prices

Social: Growing awareness of climate change

Technological: Advancements in battery technology

Legal: Intellectual property rights for battery technology

Environmental: Impact of lithium mining on natural resources

Balanced scorecard

Balanced scorecard is a strategic planning model designed to incorporate both financial and non-financial (customer, internal, innovation) measures.

To use the balanced scorecard, strategic planning teams seek to answer the following four questions:

How do customers see us?

What must we excel at?

Can we continue to improve and create value?

How do we look to shareholders?

Teams should answer those questions in four quadrants, linking them together where possible (similar to SWOT analysis), then translate those answers into operational strategy , individual performance goals , and business planning.

Here is an example of balancing financial goals with non-financial measures using this model for a small independent bookstore:

Customer perspective: Achieve a 95% positive rating on online review platforms.

Internal process perspective: Train staff on hosting author talks and literary workshops to create engaging experiences.

Growth and learning perspective: Invest in staff development by sponsoring book club memberships and industry conferences.

Financial perspective: Increase revenue year-over-year by 5% through diversified income streams from events and merchandise.

Hoshin planning

Hoshin planning guides your organization toward long-term goals through a collaborative, step-by-step process. Its core lies in a top-down vision, where leadership sets ambitious company-wide objectives. These goals then cascade down through the organization, transforming them into smaller, achievable objectives customized for each department and team.

Through open dialogue and feedback, every level of the organization participates, fostering understanding, buy-in, and a shared sense of ownership. Visual management tools, like strategic boards, become the canvas upon which progress is tracked, keeping everyone on the same page and celebrating victories along the way.

Here's an example of Hoshin planning in a manufacturing company that wants to increase production by 20%:

This vision cascades down to departments and goals like reducing setup time by 10% and minimizing waste by 5%, which become part of it.

Each department then creates action plans to achieve its objectives.

Regular meetings facilitate communication, address roadblocks, and ensure alignment.

Progress is visualized on Hoshin boards, motivating teams and celebrating success.

Throughout the process, the company learns from setbacks and adapts its strategies for continuous improvement.

Selecting the ideal strategic planning techniques requires considering your unique needs and goals. While each tool offers valuable insights, its strengths and complexities cater to different business types. Here's a quick guide to finding the best match:

Common mistakes to avoid during strategic planning

Once you choose a strategic planning method, make sure to steer clear of these pitfalls:

Going solo: Strategic planning thrives on collaboration , with perspectives from different levels of the organization. According to Gartner, CIOs should work with key stakeholders to develop strategic principles to provide a shared view of business goals. [1]

Vagueness: Set clear, measurable goals with concrete timelines and actionable steps.

Data blindness: Back up your decisions with data and insights to avoid guesswork and ensure evidence-based planning.

Ignoring reality: Be realistic about your resources, capabilities, and market conditions. Don't set yourself up for failure with unrealistic goals.

Static vision: The world is constantly changing. Be flexible and adaptable, revisiting and adjusting your plan as needed.

Navigating the ever-changing business landscape doesn't have to be a guessing game. By exploring the diverse world of strategic planning processes, you can identify the perfect map for your specific journey. From the adaptable flexibility of OKRs to the comprehensive foresight of PESTLE analysis, there's a tool perfectly suited to help you achieve your vision.

Now it's your turn to:

Evaluate your business context and goals to identify the tool that best fits your size, stage, and industry context.

Involve key stakeholders , gather diverse perspectives, and leverage the collective intelligence of your team.

Regularly revisit and adapt your strategic approach and embrace the mindset of continuous improvement.

In the meantime, here are some resources that will help you plan your business's future:

Strategic Planning Software

How to Balance Short-Term Execution and Long-Term Strategy

How To Track Project Progress Effectively in 4 Easy Steps

Use Strategic Principles to Provide Direction for Strategic Planning and Execution , Gartner

11.4 The Business Plan

Learning objectives.

By the end of this section, you will be able to:

Describe the different purposes of a business plan
Describe and develop the components of a brief business plan
Describe and develop the components of a full business plan

Unlike the brief or lean formats introduced so far, the business plan is a formal document used for the long-range planning of a company’s operation. It typically includes background information, financial information, and a summary of the business. Investors nearly always request a formal business plan because it is an integral part of their evaluation of whether to invest in a company. Although nothing in business is permanent, a business plan typically has components that are more “set in stone” than a business model canvas , which is more commonly used as a first step in the planning process and throughout the early stages of a nascent business. A business plan is likely to describe the business and industry, market strategies, sales potential, and competitive analysis, as well as the company’s long-term goals and objectives. An in-depth formal business plan would follow at later stages after various iterations to business model canvases. The business plan usually projects financial data over a three-year period and is typically required by banks or other investors to secure funding. The business plan is a roadmap for the company to follow over multiple years.

Some entrepreneurs prefer to use the canvas process instead of the business plan, whereas others use a shorter version of the business plan, submitting it to investors after several iterations. There are also entrepreneurs who use the business plan earlier in the entrepreneurial process, either preceding or concurrently with a canvas. For instance, Chris Guillebeau has a one-page business plan template in his book The $100 Startup . 48 His version is basically an extension of a napkin sketch without the detail of a full business plan. As you progress, you can also consider a brief business plan (about two pages)—if you want to support a rapid business launch—and/or a standard business plan.

As with many aspects of entrepreneurship, there are no clear hard and fast rules to achieving entrepreneurial success. You may encounter different people who want different things (canvas, summary, full business plan), and you also have flexibility in following whatever tool works best for you. Like the canvas, the various versions of the business plan are tools that will aid you in your entrepreneurial endeavor.

Business Plan Overview

Most business plans have several distinct sections ( Figure 11.16 ). The business plan can range from a few pages to twenty-five pages or more, depending on the purpose and the intended audience. For our discussion, we’ll describe a brief business plan and a standard business plan. If you are able to successfully design a business model canvas, then you will have the structure for developing a clear business plan that you can submit for financial consideration.

Both types of business plans aim at providing a picture and roadmap to follow from conception to creation. If you opt for the brief business plan, you will focus primarily on articulating a big-picture overview of your business concept.

The full business plan is aimed at executing the vision concept, dealing with the proverbial devil in the details. Developing a full business plan will assist those of you who need a more detailed and structured roadmap, or those of you with little to no background in business. The business planning process includes the business model, a feasibility analysis, and a full business plan, which we will discuss later in this section. Next, we explore how a business plan can meet several different needs.

Purposes of a Business Plan

A business plan can serve many different purposes—some internal, others external. As we discussed previously, you can use a business plan as an internal early planning device, an extension of a napkin sketch, and as a follow-up to one of the canvas tools. A business plan can be an organizational roadmap , that is, an internal planning tool and working plan that you can apply to your business in order to reach your desired goals over the course of several years. The business plan should be written by the owners of the venture, since it forces a firsthand examination of the business operations and allows them to focus on areas that need improvement.

Refer to the business venture throughout the document. Generally speaking, a business plan should not be written in the first person.

A major external purpose for the business plan is as an investment tool that outlines financial projections, becoming a document designed to attract investors. In many instances, a business plan can complement a formal investor’s pitch. In this context, the business plan is a presentation plan, intended for an outside audience that may or may not be familiar with your industry, your business, and your competitors.

You can also use your business plan as a contingency plan by outlining some “what-if” scenarios and exploring how you might respond if these scenarios unfold. Pretty Young Professional launched in November 2010 as an online resource to guide an emerging generation of female leaders. The site focused on recent female college graduates and current students searching for professional roles and those in their first professional roles. It was founded by four friends who were coworkers at the global consultancy firm McKinsey. But after positions and equity were decided among them, fundamental differences of opinion about the direction of the business emerged between two factions, according to the cofounder and former CEO Kathryn Minshew . “I think, naively, we assumed that if we kicked the can down the road on some of those things, we’d be able to sort them out,” Minshew said. Minshew went on to found a different professional site, The Muse , and took much of the editorial team of Pretty Young Professional with her. 49 Whereas greater planning potentially could have prevented the early demise of Pretty Young Professional, a change in planning led to overnight success for Joshua Esnard and The Cut Buddy team. Esnard invented and patented the plastic hair template that he was selling online out of his Fort Lauderdale garage while working a full-time job at Broward College and running a side business. Esnard had hundreds of boxes of Cut Buddies sitting in his home when he changed his marketing plan to enlist companies specializing in making videos go viral. It worked so well that a promotional video for the product garnered 8 million views in hours. The Cut Buddy sold over 4,000 products in a few hours when Esnard only had hundreds remaining. Demand greatly exceeded his supply, so Esnard had to scramble to increase manufacturing and offered customers two-for-one deals to make up for delays. This led to selling 55,000 units, generating $700,000 in sales in 2017. 50 After appearing on Shark Tank and landing a deal with Daymond John that gave the “shark” a 20-percent equity stake in return for $300,000, The Cut Buddy has added new distribution channels to include retail sales along with online commerce. Changing one aspect of a business plan—the marketing plan—yielded success for The Cut Buddy.

Link to Learning

Watch this video of Cut Buddy’s founder, Joshua Esnard, telling his company’s story to learn more.

If you opt for the brief business plan, you will focus primarily on articulating a big-picture overview of your business concept. This version is used to interest potential investors, employees, and other stakeholders, and will include a financial summary “box,” but it must have a disclaimer, and the founder/entrepreneur may need to have the people who receive it sign a nondisclosure agreement (NDA) . The full business plan is aimed at executing the vision concept, providing supporting details, and would be required by financial institutions and others as they formally become stakeholders in the venture. Both are aimed at providing a picture and roadmap to go from conception to creation.

Types of Business Plans

The brief business plan is similar to an extended executive summary from the full business plan. This concise document provides a broad overview of your entrepreneurial concept, your team members, how and why you will execute on your plans, and why you are the ones to do so. You can think of a brief business plan as a scene setter or—since we began this chapter with a film reference—as a trailer to the full movie. The brief business plan is the commercial equivalent to a trailer for Field of Dreams , whereas the full plan is the full-length movie equivalent.

Brief Business Plan or Executive Summary

As the name implies, the brief business plan or executive summary summarizes key elements of the entire business plan, such as the business concept, financial features, and current business position. The executive summary version of the business plan is your opportunity to broadly articulate the overall concept and vision of the company for yourself, for prospective investors, and for current and future employees.

A typical executive summary is generally no longer than a page, but because the brief business plan is essentially an extended executive summary, the executive summary section is vital. This is the “ask” to an investor. You should begin by clearly stating what you are asking for in the summary.

In the business concept phase, you’ll describe the business, its product, and its markets. Describe the customer segment it serves and why your company will hold a competitive advantage. This section may align roughly with the customer segments and value-proposition segments of a canvas.

Next, highlight the important financial features, including sales, profits, cash flows, and return on investment. Like the financial portion of a feasibility analysis, the financial analysis component of a business plan may typically include items like a twelve-month profit and loss projection, a three- or four-year profit and loss projection, a cash-flow projection, a projected balance sheet, and a breakeven calculation. You can explore a feasibility study and financial projections in more depth in the formal business plan. Here, you want to focus on the big picture of your numbers and what they mean.

The current business position section can furnish relevant information about you and your team members and the company at large. This is your opportunity to tell the story of how you formed the company, to describe its legal status (form of operation), and to list the principal players. In one part of the extended executive summary, you can cover your reasons for starting the business: Here is an opportunity to clearly define the needs you think you can meet and perhaps get into the pains and gains of customers. You also can provide a summary of the overall strategic direction in which you intend to take the company. Describe the company’s mission, vision, goals and objectives, overall business model, and value proposition.

Rice University’s Student Business Plan Competition, one of the largest and overall best-regarded graduate school business-plan competitions (see Telling Your Entrepreneurial Story and Pitching the Idea ), requires an executive summary of up to five pages to apply. 51 , 52 Its suggested sections are shown in Table 11.2 .

Are You Ready?

Create a brief business plan.

Fill out a canvas of your choosing for a well-known startup: Uber, Netflix, Dropbox, Etsy, Airbnb, Bird/Lime, Warby Parker, or any of the companies featured throughout this chapter or one of your choice. Then create a brief business plan for that business. See if you can find a version of the company’s actual executive summary, business plan, or canvas. Compare and contrast your vision with what the company has articulated.

These companies are well established but is there a component of what you charted that you would advise the company to change to ensure future viability?
Map out a contingency plan for a “what-if” scenario if one key aspect of the company or the environment it operates in were drastically is altered?

Full Business Plan

Even full business plans can vary in length, scale, and scope. Rice University sets a ten-page cap on business plans submitted for the full competition. The IndUS Entrepreneurs , one of the largest global networks of entrepreneurs, also holds business plan competitions for students through its Tie Young Entrepreneurs program. In contrast, business plans submitted for that competition can usually be up to twenty-five pages. These are just two examples. Some components may differ slightly; common elements are typically found in a formal business plan outline. The next section will provide sample components of a full business plan for a fictional business.

Executive Summary

The executive summary should provide an overview of your business with key points and issues. Because the summary is intended to summarize the entire document, it is most helpful to write this section last, even though it comes first in sequence. The writing in this section should be especially concise. Readers should be able to understand your needs and capabilities at first glance. The section should tell the reader what you want and your “ask” should be explicitly stated in the summary.

Describe your business, its product or service, and the intended customers. Explain what will be sold, who it will be sold to, and what competitive advantages the business has. Table 11.3 shows a sample executive summary for the fictional company La Vida Lola.

Business Description

This section describes the industry, your product, and the business and success factors. It should provide a current outlook as well as future trends and developments. You also should address your company’s mission, vision, goals, and objectives. Summarize your overall strategic direction, your reasons for starting the business, a description of your products and services, your business model, and your company’s value proposition. Consider including the Standard Industrial Classification/North American Industry Classification System (SIC/NAICS) code to specify the industry and insure correct identification. The industry extends beyond where the business is located and operates, and should include national and global dynamics. Table 11.4 shows a sample business description for La Vida Lola.

Industry Analysis and Market Strategies

Here you should define your market in terms of size, structure, growth prospects, trends, and sales potential. You’ll want to include your TAM and forecast the SAM . (Both these terms are discussed in Conducting a Feasibility Analysis .) This is a place to address market segmentation strategies by geography, customer attributes, or product orientation. Describe your positioning relative to your competitors’ in terms of pricing, distribution, promotion plan, and sales potential. Table 11.5 shows an example industry analysis and market strategy for La Vida Lola.

Competitive Analysis

The competitive analysis is a statement of the business strategy as it relates to the competition. You want to be able to identify who are your major competitors and assess what are their market shares, markets served, strategies employed, and expected response to entry? You likely want to conduct a classic SWOT analysis (Strengths Weaknesses Opportunities Threats) and complete a competitive-strength grid or competitive matrix. Outline your company’s competitive strengths relative to those of the competition in regard to product, distribution, pricing, promotion, and advertising. What are your company’s competitive advantages and their likely impacts on its success? The key is to construct it properly for the relevant features/benefits (by weight, according to customers) and how the startup compares to incumbents. The competitive matrix should show clearly how and why the startup has a clear (if not currently measurable) competitive advantage. Some common features in the example include price, benefits, quality, type of features, locations, and distribution/sales. Sample templates are shown in Figure 11.17 and Figure 11.18 . A competitive analysis helps you create a marketing strategy that will identify assets or skills that your competitors are lacking so you can plan to fill those gaps, giving you a distinct competitive advantage. When creating a competitor analysis, it is important to focus on the key features and elements that matter to customers, rather than focusing too heavily on the entrepreneur’s idea and desires.

Operations and Management Plan

In this section, outline how you will manage your company. Describe its organizational structure. Here you can address the form of ownership and, if warranted, include an organizational chart/structure. Highlight the backgrounds, experiences, qualifications, areas of expertise, and roles of members of the management team. This is also the place to mention any other stakeholders, such as a board of directors or advisory board(s), and their relevant relationship to the founder, experience and value to help make the venture successful, and professional service firms providing management support, such as accounting services and legal counsel.

Table 11.6 shows a sample operations and management plan for La Vida Lola.

Marketing Plan

Here you should outline and describe an effective overall marketing strategy for your venture, providing details regarding pricing, promotion, advertising, distribution, media usage, public relations, and a digital presence. Fully describe your sales management plan and the composition of your sales force, along with a comprehensive and detailed budget for the marketing plan. Table 11.7 shows a sample marketing plan for La Vida Lola.

Financial Plan

A financial plan seeks to forecast revenue and expenses; project a financial narrative; and estimate project costs, valuations, and cash flow projections. This section should present an accurate, realistic, and achievable financial plan for your venture (see Entrepreneurial Finance and Accounting for detailed discussions about conducting these projections). Include sales forecasts and income projections, pro forma financial statements ( Building the Entrepreneurial Dream Team , a breakeven analysis, and a capital budget. Identify your possible sources of financing (discussed in Conducting a Feasibility Analysis ). Figure 11.19 shows a template of cash-flow needs for La Vida Lola.

Entrepreneur In Action

Laughing man coffee.

Hugh Jackman ( Figure 11.20 ) may best be known for portraying a comic-book superhero who used his mutant abilities to protect the world from villains. But the Wolverine actor is also working to make the planet a better place for real, not through adamantium claws but through social entrepreneurship.

A love of java jolted Jackman into action in 2009, when he traveled to Ethiopia with a Christian humanitarian group to shoot a documentary about the impact of fair-trade certification on coffee growers there. He decided to launch a business and follow in the footsteps of the late Paul Newman, another famous actor turned philanthropist via food ventures.

Jackman launched Laughing Man Coffee two years later; he sold the line to Keurig in 2015. One Laughing Man Coffee café in New York continues to operate independently, investing its proceeds into charitable programs that support better housing, health, and educational initiatives within fair-trade farming communities. 55 Although the New York location is the only café, the coffee brand is still distributed, with Keurig donating an undisclosed portion of Laughing Man proceeds to those causes (whereas Jackman donates all his profits). The company initially donated its profits to World Vision, the Christian humanitarian group Jackman accompanied in 2009. In 2017, it created the Laughing Man Foundation to be more active with its money management and distribution.

You be the entrepreneur. If you were Jackman, would you have sold the company to Keurig? Why or why not?
Would you have started the Laughing Man Foundation?
What else can Jackman do to aid fair-trade practices for coffee growers?

What Can You Do?

Textbooks for change.

Founded in 2014, Textbooks for Change uses a cross-compensation model, in which one customer segment pays for a product or service, and the profit from that revenue is used to provide the same product or service to another, underserved segment. Textbooks for Change partners with student organizations to collect used college textbooks, some of which are re-sold while others are donated to students in need at underserved universities across the globe. The organization has reused or recycled 250,000 textbooks, providing 220,000 students with access through seven campus partners in East Africa. This B-corp social enterprise tackles a problem and offers a solution that is directly relevant to college students like yourself. Have you observed a problem on your college campus or other campuses that is not being served properly? Could it result in a social enterprise?

Work It Out

Franchisee set out.

A franchisee of East Coast Wings, a chain with dozens of restaurants in the United States, has decided to part ways with the chain. The new store will feature the same basic sports-bar-and-restaurant concept and serve the same basic foods: chicken wings, burgers, sandwiches, and the like. The new restaurant can’t rely on the same distributors and suppliers. A new business plan is needed.

What steps should the new restaurant take to create a new business plan?
Should it attempt to serve the same customers? Why or why not?

This New York Times video, “An Unlikely Business Plan,” describes entrepreneurial resurgence in Detroit, Michigan.

48 Chris Guillebeau. The $100 Startup: Reinvent the Way You Make a Living, Do What You Love, and Create a New Future . New York: Crown Business/Random House, 2012.
49 Jonathan Chan. “What These 4 Startup Case Studies Can Teach You about Failure.” Foundr.com . July 12, 2015. https://foundr.com/4-startup-case-studies-failure/
50 Amy Feldman. “Inventor of the Cut Buddy Paid YouTubers to Spark Sales. He Wasn’t Ready for a Video to Go Viral.” Forbes. February 15, 2017. https://www.forbes.com/sites/forbestreptalks/2017/02/15/inventor-of-the-cut-buddy-paid-youtubers-to-spark-sales-he-wasnt-ready-for-a-video-to-go-viral/#3eb540ce798a
51 Jennifer Post. “National Business Plan Competitions for Entrepreneurs.” Business News Daily . August 30, 2018. https://www.businessnewsdaily.com/6902-business-plan-competitions-entrepreneurs.html
52 “Rice Business Plan Competition, Eligibility Criteria and How to Apply.” Rice Business Plan Competition . March 2020. https://rbpc.rice.edu/sites/g/files/bxs806/f/2020%20RBPC%20Eligibility%20Criteria%20and%20How%20to%20Apply_23Oct19.pdf
53 “Rice Business Plan Competition, Eligibility Criteria and How to Apply.” Rice Business Plan Competition. March 2020. https://rbpc.rice.edu/sites/g/files/bxs806/f/2020%20RBPC%20Eligibility%20Criteria%20and%20How%20to%20Apply_23Oct19.pdf; Based on 2019 RBPC Competition Rules and Format April 4–6, 2019. https://rbpc.rice.edu/sites/g/files/bxs806/f/2019-RBPC-Competition-Rules%20-Format.pdf
54 Foodstart. http://foodstart.com
55 “Hugh Jackman Journey to Starting a Social Enterprise Coffee Company.” Giving Compass. April 8, 2018. https://givingcompass.org/article/hugh-jackman-journey-to-starting-a-social-enterprise-coffee-company/

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How to Use Your Business Plan Most Effectively
The Basics of Writing a Business Plan
12 Reasons You Need a Business Plan
The Main Objectives of a Business Plan
What to Include and Not Include in a Successful Business Plan
The Top 4 Types of Business Plans
A Step-by-Step Guide to Presenting Your Business Plan in 10 Slides
6 Tips for Making a Winning Business Presentation
12 Ways to Set Realistic Business Goals and Objectives
3 Key Things You Need to Know About Financing Your Business
How to Perfectly Pitch Your Business Plan in 10 Minutes
How to Fund Your Business Through Friends and Family Loans and Crowdsourcing
How to Fund Your Business Using Banks and Credit Unions
How to Fund Your Business With an SBA Loan
How to Fund Your Business With Bonds and Indirect Funding Sources
How to Fund Your Business With Venture Capital
How to Fund Your Business With Angel Investors
How to Use Your Business Plan to Track Performance
How to Make Your Business Plan Attractive to Prospective Partners
Is This Idea Going to Work? How to Assess the Potential of Your Business.
When to Update Your Business Plan
How to Write the Management Team Section to Your Business Plan
How to Create a Strategic Hiring Plan
How to Write a Business Plan Executive Summary That Sells Your Idea
How to Build a Team of Outside Experts for Your Business
Use This Worksheet to Write a Product Description That Sells
What Is Your Unique Selling Proposition? Use This Worksheet to Find Your Greatest Strength.
How to Raise Money With Your Business Plan
Customers and Investors Don't Want Products. They Want Solutions.
5 Essential Elements of Your Industry Trends Plan
How to Identify and Research Your Competition
Who Is Your Ideal Customer? 4 Questions to Ask Yourself.
How to Identify Market Trends in Your Business Plan
How to Define Your Product and Set Your Prices
How to Determine the Barriers to Entry for Your Business
How to Get Customers in Your Store and Drive Traffic to Your Website
How to Effectively Promote Your Business to Customers and Investors
What Equipment and Facilities to Include in Your Business Plan
How to Write an Income Statement for Your Business Plan
How to Make a Balance Sheet
How to Make a Cash Flow Statement
How to Use Financial Ratios to Understand the Health of Your Business
How to Write an Operations Plan for Retail and Sales Businesses
How to Make Realistic Financial Forecasts
How to Write an Operations Plan for Manufacturers
What Technology Needs to Include In Your Business Plan
How to List Personnel and Materials in Your Business Plan
The Role of Franchising
The Best Ways to Follow Up on a Buisiness Plan
The Best Books, Sites, Trade Associations and Resources to Get Your Business Funded and Running
How to Hire the Right Business Plan Consultant
Business Plan Lingo and Resources All Entrepreneurs Should Know
How to Write a Letter of Introduction
What To Put on the Cover Page of a Business Plan
How to Format Your Business Plan
6 Steps to Getting Your Business Plan In Front of Investors

What Equipment and Facilities to Include in Your Business Plan Investors will want a detailed list of the equipment your business requires and where you plan to operate. Here's a checklist to get you started.

By Eric Butow • Oct 27, 2023

Opinions expressed by Entrepreneur contributors are their own.

This is part 1 / 11 of Write Your Business Plan: Section 5: Organizing Operations and Finances series.

A manufacturer will likely need all sorts of equipment, such as cars, trucks, computers, telecom systems, and machinery of every description for bending metal, milling wood, forming plastic, or otherwise making a product out of raw materials. A lot of this equipment is expensive and hard to move or sell once purchased.

Moreover, manufacturers often require a facility to house this equipment and operate the business.

Related: How to List Personel and Materials in Your Business Plan

Naturally, investors are very interested in your plans for purchasing equipment and facilities. But this part of your plan doesn't have to be long—just be sure it's complete.

Make a list of every sizable piece of equipment you anticipate needing. Include a description of its features, its functions, and, of course, its cost. In addition, list all facilities you plan on buying or leasing.

Be ready to defend the need to own the more expensive items. Bankers and other investors are loath to plunk down money for capital equipment that can be resold only for far less than its purchase price. Also, consider leasing what you need if you are starting out. Once you show that you are responsible for paying your bills and sales look good, you can apply for a small business loan or a line of credit with greater success.

Related: How to Write an Operations Plan for Manufacturers

Unless you're a globe-trotting consultant whose office is his suitcase, your plan will need to describe the facilities in which your business will be housed. Even home-based business owners now describe their home offices as the trend continues to snowball, thanks largely to mobile communications.

Land and buildings are often the largest capital items on any company's balance sheet. So it makes sense to go into detail about what you have and what you need. Decide first how much space you require in square feet. Don't forget to include room for expansion if you anticipate growth. Now consider the location. You may need to be close to a labor force and materials suppliers. Transportation needs, such as proximity to rail, interstate highways, or airports, can also be important. Next, ask whether there is any specific layout that you need.

Related: What Technology to Include In Your Business Plan

Draw up a floor plan to see if your factory floor can fit into the space you have in mind. Manufacturers today do most of their ordering and communications online, so you need to ensure that your location has excellent connectivity.

To determine the cost of facilities, you'll first have to decide whether you will lease or buy space and what your rent or mortgage payments will be for the chosen option. Don't forget to include brokerage fees, moving costs, and the cost of any leasehold improvements you'll need. Finally, take a look at operating costs. Utilities, including phone, electric, gas, water, and trash pickup are concerns; also consider such costs as your computer connections, possibly satellite connections, maintenance, and general upkeep.

Related: Bursting at the Seams? Tips for Expanding Your Startup's Office Space

Facilities checklist

Use this checklist to analyze your facility's requirements.

Initial space
Expansion space
Total space
Technology requirements, including connectivity
Proximity to the labor pool
Proximity to suppliers
Transportation availability
Layout Requirements:
Purchase/lease costs
Brokerage costs
Moving costs
Improvement costs
Operating costs

These aren't the only operations concerns of manufacturers. You should also consider your need to acquire or protect such valuable operations assets as proprietary processes and patented technologies.

Related: How to Determine How Much Real Estate Your Business Needs

For many businesses— for example, Coca-Cola with its secret soft drink formula comes to mind—intellectual property is more valuable than their sizable accumulations of plants and equipment. Investors should be warned if they must pay to acquire intellectual property. If you already have it, they will be happy to learn they'll be purchasing an interest in a valuable and protected technology.

More in Write Your Business Plan

Section 1: the foundation of a business plan, section 2: putting your business plan to work, section 3: selling your product and team, section 4: marketing your business plan, section 5: organizing operations and finances, section 6: getting your business plan to investors.

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14 Best Business Plan Writing Tools to Check

Planning is the first step to everything. Business is no exception. In fact, it is extremely important to have a proper and effective plan before implementing any kind of business activity. Preparing a business plan for a starting business is the most crucial moment for a business.

A businessman has to do market research , case study and acquire information from various sources.

A business plan not only provides adequate information or guideline to the owner but it creates a specific path for the employee to follow. They don’t get confused either with the help of a proper business plan. This is a very stressful job and a lot of business owner face difficulty with this process.

In This Article

tools that can help a business owner to properly write a business plan.

Online tools :-.

As the name suggests, mentioned below are a couple of business planning tools that can be used online and provides online customer support.

1. SBA’s Build your business plan tool

This tool provides a step by step process to initiate and complete a business plan . This tool requires its users to create an account which only the users can access. This tool divides the entire business plan into different sections.

Making it easy for the users to plan in a flexible manner. As the user completes the sections, this tool will automatically update the business plan . All the data stored in this tool will be stored for up to six months after the last date of users log in.

This tool is currently being used by 286,322 business owners, accountants, entrepreneurs, and students. This tool can be used for writing and managing the business plan . The users of this tool can share and edit each other’s plan.

This tool also has a sync feature to integrate financial data into texts for an easy update whenever there is a change in the financials. It has over 100 currency symbols for users all over the world.

This tool also generates ready-made financial forecast reports in a business plan and also provides an explanation to those reports.

3. LiveP l an

This tool is a great choice for small business and startups as it simplifies business strategy. budgeting, forecasting, and achievement tracking. Liveplan creates a business plan using eye-catching visual formats and its unique One-page pitch. According to live plan, for a starting business, it’s better not to go into too many details from the very beginning.

Simply present all the necessary data using a single page that can explain the business to everyone in a couple of minutes. Liveplan also allows its users to compare the performance of the users using dashboards. This feature greatly works as a motivation for its many users.

4. RocketLawyer

This is also a tool that uses step by step procedure for making a business plan based on the interview. The users of this tool can customize their plan as they need and when they need. All the information provided here is detailed.

The users can easily grasp the information and use it to their advantage. They Provide support through the inter and LandLines. Their landlines are open from Monday to Friday 6am-6pm PT. This tool has over 20 million users from all over the globe.

4. Stratpad

This is a top rated business planning software. It allows its users to learn tactics that can boost their business. There are video tutorials that show how to operate a business for profit. Users can download a small business toolkit to connect with others professional for consultation and various type of support.

The also provide cloud computing. With this, a user can build their business plan in less than 24 hours, making a financial projection is also a matter of minutes.

Stratpad is currently developing a feature called “StratPad CONNECT” Whether someone is looking for a bank for financing or coaches for consultation StratPad CONNECT will easily identify the appropriate institution or personnel its users.

Business Plan Tutorial

There are many methods for planning a business. A business owner can use Tutorials to get started with a business plan. Tutorials do not create a business plan but explains the methods to create the best business plans. Anyone can gain insights on preparing a business plan using tutorials.

5. How to write a Simple Business Plan

This an Eight Step business plan tutorial, which is a combination of the fundamental elements only. This tutorial is brief and specific. A user can simply use it the way it is or make the 8-Step as a baseline for a more detailed business plan.

6. SBA’s Video Business Planning Tutorial

This tutorial is Presented by Tim Berry founder and chairmen of Palo Alto Software and bplans.com. It is a series of nine videos that are about 5-10 minutes in length.

Each of these videos explains different elements of business planning. The users can pick any tutorial they want to see and skip whichever they don’t need at the moment.

Although the videos are short they can provide insights on where to start and what informations a business owner needs to acquire.

7. Entrepreneur’s Elements Of a Business Plan

This Tutorial Provides an extensive analysis of seven essential segments of a Business plan. What should be and what should not be in the business plan, how to work the numbers and supplementary resources that can help. Unlike the tutorial mentioned above, this one is detailed.

Although there seven segments but each segment is further divided into multiple sections. Properly explaining each segment and section of their purposes and their uses. This tutorial can provide support to practically all types of business owners.

8. Comprehensive Business Plan Outline

This is a business plan outline that provides thorough an explanation of each section and sub-section of a fundamental business plan. Even though it is detailed but it also provides the basic shape only.

Other then the outline, there is also an analysis of what factors should be covered, examples and hints for preparing each section and sub-section in an effective manner.

9. Shopify’s Ultimate Guide to Business Plan

This is a comprehensive business plan guide comprising 9 chapters which cover all the essential parts of preparing a business plan .Each of these nine chapters focuses on individual topics related to business plan .

There are over 446,005 users of this guide. Any person who wants to start a business can try their free 14 Day trial period to test whether the guide is to their liking. Shopify provides 24/7 support for its users and also has forums and help center.

Business Plan Templates

Another way to business planning is using “Business Plan Templates”. Templates already contain the names of segments that must be included in the plan . Users simply have to fill in the blanks to prepare a business plan.

Templates are the fastest and easiest methods to preparing a business plan.

10. SCORE Business Planning Templates

There is an entire collection of templates for business planning. These templates are also divided for starting a business and existing business.

There are templates available each of the segments of a business plan as well, In case someone wants to make a comprehensive business plan. After using the templates a user can also receive advice from a business planning mentor of SCORE.

11. Bplan’s Business Template

This site provides downloadable templates that provide insights\ regarding how a regular business plan should be prepared. one must sign-up for free to download templates.

Other than fully prepared templates there also step by step guidelines for those who want a deeper understanding of business planning using templates. It doesn’t matter if its a starting business or existing business, whether it is brief or detailed all kinds of templates are available for its users to use.

There are also samples of business plans that show how plans are prepared by other companies.

12. The 100$ Startup One-Page Business plan

As its name suggests, This is a single page business plan that anyone can download from the internet. There is no need for any sign-ups or subscription. This business plan template is a series of questions that should be answered in one or two short sentences.

This is the quickest way to prepare a business and it is also the shortest. However, this template does focus on the major elements that should be in a business plan.

13. Office Depot’s Business Plan Templates

These templates are comprised of the major elements of a business plan presents the essence of a business and the core audience for the plan affect the contents of the template.

It is important to recognize that the most effective business plans are those that are flexible. Business plans that are updated depending on environment and situations will keep the entire business in check.

Regardless of what tool a business owner uses, he/she must turn it into a mission to create a plan that can be implemented and can improve as time passes.

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Grow » marketing, 9 ai tools to improve your business’s marketing.

AI-powered tools and software can help streamline your business’s marketing efforts. Here are nine AI tools you can leverage to improve your marketing.

A young male office worker looks directly at the viewer and smiles. He is seated at a table with a laptop before him. Behind him in the background are office coworkers who are looking at a presentation easel.

With the proliferation of artificial intelligence (AI), many businesses are using AI-powered tools and software to streamline their operations and gain valuable market insights. AI technologies can help companies brainstorm and create content, automate workflows, analyze customer insights, and more.

Here are nine AI tools you can leverage to take your small business’s marketing to the next level.

Social media monitoring tool Brand24 helps businesses track customer feedback and sentiment in real time. It scours the web to aggregate brand mentions across various online sources, using AI to flag both positive and negative posts within contexts. Monthly pricing begins at $99 for individual accounts and $179 for team accounts.

DeepBrain AI

DeepBrain AI converts written text into engaging videos via its AI Studios tool. Simply input your desired text to create a voiceover and subtitles. Then, use existing text or work on the platform using the ChatGPT integration. Next, select your AI avatar to convey the voiceover, complete with naturalistic speech and movements for a more realistic feel.

The Starter plan costs $30 per month, while the Pro plan runs $225 per month. Custom pricing is available for Enterprise plans.

[Read more: What's the Difference Between Traditional and Generative AI? ]

HubSpot AI Marketing Hub

HubSpot AI offers a range of AI-powered capabilities throughout its platform to help businesses automate processes and make informed business decisions. Among these is the Marketing Hub , which includes AI-based features such as automated campaign development and tracking.

You can access several features, including email marketing, in the free version. Additional tools are available with paid plans, starting at $18 per month.

If you’re looking to get a stronger return on investment for your social media marketing efforts, Sprout Social can help.

Influencity

For businesses looking to leverage influencer marketing, Influencity offers a comprehensive platform to connect with influencers, work together on campaigns, and track campaign performance. The AI-powered tool helps companies find best-fit influencers across various social networks, optimize campaign workflows, and analyze key statistics to improve return on investment.

Pricing begins at $168 for a basic account with up to four users, going up to $698 monthly for a business account with unlimited users.

Formerly known as Conversion.ai, Jasper “the AI copilot” can generate marketing assets, including social media posts, sales emails, blog content, and website copy. The generative AI tool allows you to upload information about your business, ensuring the content it creates is both factually accurate and in the correct tone. Jasper also comes with search engine optimization (SEO) features and integrates with several third-party SEO and customer relationship management tools.

Plans for Jasper start at $49 per month per seat, with custom features and pricing available to businesses upon request.

[Read more: AI Tools That Can Help You Start, Run, and Grow Your Small Business ]

Seventh Sense

Hubspot and Marketo users can enhance their email marketing campaigns with Seventh Sense . The tool’s AI algorithms analyze each customer’s unique engagement patterns to increase email open rates and interactions. Seventh Sense also offers audience segmentation based on engagement levels, allowing you to tailor your approach and content accordingly.

For Marketo users, pricing begins at $450 per month with a minimum of 50,000 leads; HubSpot user pricing begins at $80 per month with a minimum of 5,000 marketing contacts.

Sprout Social

If you’re looking to get a stronger return on investment (ROI) for your social media marketing efforts, Sprout Social can help. The all-in-one social media management platform uses AI to understand audience behavior and make suggestions accordingly — for example, determining the best time to post, suggesting content themes, and finding potential brand advocates and influencers.

Sprout Social has four paid plans with varying degrees of features and support that start at $249 per month (plus an extra $199 per month for each additional seat).

E-commerce stores can turn to Trellis to optimize their ad campaigns and overall ROI. Trellis’s AI can suggest and regularly update keyword bids, provide advanced analytics and insights, and adjust campaigns based on identified patterns and trends. Amazon sellers can also benefit from the AI-powered pricing tool, which tests various product prices to help businesses develop optimal strategies.

Pricing for monthly plans (based on annual revenue) ranges from $299 to $1,499.

Zapier empowers teams to create customized, cross-system workflows to automate repetitive tasks, working with over 3,000 integrations to streamline various processes. One of the platform’s most promising tools for marketing is the ability to create a custom AI-powered chatbot. Zapier offers templates for both internal use (such as creating press releases or clarifying complex information) and for customer-facing chat-based interactions.

Zapier users can begin building a chatbot with limited features for free; premium plans cost $20 per month and allow the chatbot to be trained on one knowledge source.

[Read more: Getting Started With AI: Artificial Intelligence Applications for Small Businesses ]

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.

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Free Invoice Templates to Help You Get Paid Faster

Angelique O'Rourke

5 min. read

Updated April 10, 2024

Whether you’re a freelancer or running your own small business or startup, you’ve got to get paid—preferably on time.

A surprising number of businesses that are bringing in good revenue struggle to keep their business afloat because they struggle with cash flow—having the cash in hand to cover expenses.

It’s an accounts receivable problem. Many times, this struggle isn’t because they haven’t done enough business, it’s because they just haven’t been paid yet for products or services already delivered.

That’s where a simple, professional looking invoice can make a big difference. You want your invoice to make it easy for your customers to understand what you’re billing for, how much they owe, and when payment is due. Invoicing can take some time, but there are some ways you can make it quicker and simpler.

Start with a quality, free invoice template—there are a number of different invoice types. Here are a few we recommend.

1. An Excel invoice template (and a good Google Sheets option)

If you’d prefer an Excel template, this option from Vertex 42 is tried and true. It’s a fast, small download and a straightforward template with two style options.

Personally, I think the online templates are just as good as a download like this and, given the number of options now available online, it isn’t really necessary to use Excel. However, if you’re a die-hard Excel user, this is a good one to try.

A Google Sheets template can also be a good option if you don’t have Excel but like the Google doc, spreadsheet-based approach.

2. QuickBooks web-based invoice generator

This is one of the most customizable free professional invoice templates we’ve seen online. You can use this tool right away, without needing a credit card or a login. Create as many invoices as you need (there’s no limit), and print or download them as PDF files.

You can add your logo if you like, and there’s a choice of three customizable design layouts. You can also choose from a range of fonts, font sizes, and colors.

You can print or enter your email address to download, and you’ll also have the option to also have some free accounting resource guides sent to you.

3. Paydirt’s PayPal compatible invoice template

In addition to their pay-to-use invoice and time-tracking app, Paydirt offers a free invoice template . One of the things that makes this template unique is that you can connect it to your PayPal account, giving your clients an easier, more immediate way to pay you.

The template itself isn’t anything special, but if connecting your invoice directly to a PayPal account is a top priority, this is the way to go. They also have a great blog with tons of tips for freelancers, so you should at least check this site out.

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4. Xero’s fillable PDF template

Xero offers a downloadable fillable PDF template that you can save and reuse. It’s not fancy, but it’s clean and efficient, and you can save the template itself to your computer, which is convenient.

If you’re emailing invoices to your clients, it’s never a bad idea to send them in PDF form, so they can’t be edited. Sending Word docs or even Google docs with opening editing access can just make things more complicated if the client (even unintentionally) edits the invoice and then gets confused about what they owe and when.

5. Freshbooks’ web-based invoice template

This invoice template is definitely no-frills. If simple is your thing, it’s a good one to test drive. It does allow you to customize various aspects of the template, though, including the option to upload a business logo.

Because it’s a web-based invoice generator, you won’t be able to save your changes, so it’s probably most useful if you’re not generating invoices very often—retyping your own business information will get old.

Should you use a paid invoice tool?

If you’re freelancing or in the early days of your small business or startup, you can probably get by with using free templates for a while, sending your invoices as email attachments, or even handing them to your customers in person. At some point, as your customers increase and managing your cash flow gets a little more complicated, you’ll probably start thinking about using an accounting tool like QuickBooks or Xero.

You might start using a service like Paypal to receive payments online. Those services all offer integrated online invoicing tools, which can save you time and effort, and many include an online “pay now” option, which can reduce the amount of time you wait to get paid.

Tips for getting the most out of your invoice templates

Every invoice should include these line items:

Your name (and your business name)
Your business address and contact information
Your customer’s name and address
Description of items or services purchased, including prices and inventory numbers,
Terms of payment (when payment is due)
What types of payment you accept

Keep your invoices simple and clean, and remember, they’re essentially marketing material. They don’t have to be professionally designed, but don’t clutter them up with jargon that your customer won’t understand about your service or product, or use hard to read fonts or colors when you customize your invoice.

Make sure there’s no doubt that they understand what you’re billing for and a due date for when you expect cash in hand. And don’t wait too long to send it to your customer—you want your product or service to be fresh in their mind when their bill arrives.

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

Angelique is a skilled writer, editor, and social media specialist, as well as an actor and model with a demonstrated history of theater, film, commercial and print work.

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How To Start Writing A Business Plan That Works

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For the entrepreneur, knowing how to start writing a business plan can be as exhilarating as it is overwhelming. The business plan is a foundational document and the blueprint of your business and is critical for securing funding, setting clear goals, and communicating your vision to the world.

Let’s explore the significance of a business plan, the essential elements it should include, and strategies to forge a plan that resonates with stakeholders and steers your business toward success.

Whether you are about to launch your first business or need to revitalize an existing business strategy, a business plan provides the foundation that supports your entrepreneurial journey.

Why a Business Plan Is Needed

A business plan is not solely for the benefit of a bank manager or an investor . The business plan is a document that helps bring clarity to your vision and can guide every decision and strategy within your company.

A well written business plan forces you to put your goals and ideas into concrete, manageable steps. It cuts through the noise, ensuring you stay focused on what truly matters for your business’s growth.

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For startups looking to secure that critical initial investment, a business plan is often the first point of reference for potential backers. It’s a chance to sell your vision, show your financial acumen, and demonstrate a roadmap to profit.

Identifying potential pitfalls early is a vital aspect of proactive business ownership. A good business plan helps you prepare for the unexpected and develop strategies to mitigate risk and safeguard the longevity of your business.

Setting clear, measurable goals in your business plan provides a framework for tracking your progress. This will give you the insight needed to pivot or double down on strategies as the market dictates.

Creating Your Story

Before you start drafting sections and compiling data, step back and consider the story of your business. Your plan should be like a good book, with a clear narrative arc that compels the reader from the first sentence to the last.

Any good story is rooted in an understanding of the world it inhabits. Your business's narrative begins with a comprehensive analysis of the industry in which you operate, as well as the consumers you aim to serve.

Think about how you define your unique selling proposition (USP) . What sets your business apart from competitors? All good stories have a unique twist, and your business plan should articulate what makes your venture different from, and better than, the competition.

Introduce your team into the story. Highlight their expertise, experience, and any relevant achievements that lend credibility to the business’s ability to execute on its vision.

Writing Your Business Plan Is Just the Beginning

A business plan can span from a quick roadmap sketched on the back of a napkin to a hefty document carefully crafted to align with industry standards. Regardless of size, it should contain certain fundamental elements .

The act of writing a business plan, while pivotal, is just the first step in an ongoing process of refinement and execution.

Here’s how to make sure your business plan is a living document:

1. Regular reviews and updates

Markets shift, consumer behavior changes, and your business will grow. Your plan must evolve with these factors, which makes regular reviews and updates a must-do.

2. Be realistic

It’s essential to be both ambitious and realistic in your plan. Don’t over-inflate projections or underestimate costs. An unrealistic plan is as unattractive to investors as a lack of vision and ambition.

3. Seek professional input

Don’t be afraid to ask for help. Experienced business advisors, accountants, and mentors can provide invaluable feedback and spot issues you may have missed.

4. Start small

Your first draft doesn’t have to be perfect. Write down your initial thoughts, outline your ideas, and refine them over time. Starting with a large plan can be intimidating but working on it gradually can be a more manageable and effective approach.

The bottom line is that writing a business plan can feel overwhelming, but with the right approach and attention to detail, you can create a document that not only articulates your vision but actively works to make that vision a reality. It’s a living, breathing narrative that outlines your business’s course of action, and should be treated with care and enthusiasm.

Melissa Houston, CPA is the author of Cash Confident: An Entrepreneur’s Guide to Creating a Profitable Business . She is the founder of She Means Profit, which is a podcast and blog . As a Finance Strategist for small business owners, Melissa helps successful business owners increase their profit margins so that they keep more money in their pocket and increase their net worth.

The opinions expressed in this article are not intended to replace any professional or expert accounting and/or tax advice whatsoever.

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New York Takes Crucial Step Toward Making Congestion Pricing a Reality

The board of the Metropolitan Transportation Authority voted to approve a new $15 toll to drive into Manhattan. The plan still faces challenges from six lawsuits before it can begin in June.

Multiple cars are stopped at a traffic light at a Manhattan intersection. A person responsible for controlling traffic stands nearby wearing a yellow reflective vest.

By Winnie Hu and Ana Ley

New York City completed a crucial final step on Wednesday in a decades-long effort to become the first American city to roll out a comprehensive congestion pricing program, one that aims to push motorists out of their cars and onto mass transit by charging new tolls to drive into Midtown and Lower Manhattan.

The program could start as early as mid-June after the board of the Metropolitan Transportation Authority, the state agency that will install and manage the program, voted 11-to-1 to approve the final tolling rates, which will charge most passenger cars $15 a day to enter at 60th Street and below in Manhattan. The program is expected to reduce traffic and raise $1 billion annually for public transit improvements.

It was a historic moment for New York’s leaders and transportation advocates after decades of failed attempts to advance congestion pricing even as other gridlocked cities around the world, including London, Stockholm and Singapore, proved that similar programs could reduce traffic and pollution.

While other American cities have introduced related concepts by establishing toll roads or closing streets to traffic, the plan in New York is unmatched in ambition and scale.

Congestion pricing is expected to reduce the number of vehicles that enter Lower Manhattan by about 17 percent, according to a November study by an advisory committee reporting to the M.T.A. The report also said that the total number of miles driven in 28 counties across the region would be reduced.

“This was the right thing to do,” Janno Lieber, the authority’s chairman and chief executive, said after the vote. “New York has more traffic than any place in the United States, and now we’re doing something about it.”

Congestion pricing has long been a hard sell in New York, where many people commute by car from the boroughs outside of Manhattan and the suburbs, in part because some of them do not have access to public transit.

New York State legislators finally approved congestion pricing in 2019 after Gov. Andrew M. Cuomo helped push it through. A series of recent breakdowns in the city’s subway system had underscored the need for billions of dollars to update its aging infrastructure.

It has taken another five years to reach the starting line. Before the tolling program can begin, it must be reviewed by the Federal Highway Administration, which is expected to approve it.

Congestion pricing also faces legal challenges from six lawsuits that have been brought by elected officials and residents from across the New York region. Opponents have increasingly mobilized against the program in recent months, citing the cost of the tolls and the potential environmental effects from shifting traffic and pollution to other areas as drivers avoid the tolls.

A court hearing is scheduled for April 3 and 4 on a lawsuit brought by the State of New Jersey, which is seen as the most serious legal challenge. The mayor of Fort Lee, N.J., Mark J. Sokolich, has filed a related lawsuit.

Four more lawsuits have been brought in New York: by Ed Day, the Rockland County executive; by Vito Fossella, the Staten Island borough president, and the United Federation of Teachers; and by two separate groups of city residents.

Amid the litigation, M.T.A. officials have suspended some capital construction projects that were to be paid for by the program, and they said at a committee meeting on Monday that crucial work to modernize subway signals on the A and C lines had been delayed.

Nearly all the toll readers have been installed, and will automatically charge drivers for entering the designated congestion zone at 60th Street or below. There is no toll for leaving the zone or driving around in it. Through traffic on Franklin D. Roosevelt Drive and the West Side Highway will not be tolled.

Under the final tolling structure, which was based on recommendations by the advisory panel, most passenger vehicles will be charged $15 a day from 5 a.m. to 9 p.m. on weekdays, and from 9 a.m. to 9 p.m. on weekends. The toll will be $24 for small trucks and charter buses, and will rise to $36 for large trucks and tour buses. It will be $7.50 for motorcycles.

Those tolls will be discounted by 75 percent at night, dropping the cost for a passenger vehicle to $3.75.

Fares will go up by $1.25 for taxis and black car services, and by $2.50 for Uber and Lyft. Passengers will be responsible for paying the new fees, and they will be added to every ride that begins, ends or occurs within the congestion zone. There will be no nighttime discounts. (The new fees come on top of an existing congestion surcharge that was imposed on for-hire vehicles in 2019.)

The tolls will mostly be collected using the E-ZPass system. Electronic detection points have been placed at entrances and exits to the tolling zone. Drivers who do not use an E-ZPass will pay significantly higher fees — for instance, $22.50 instead of $15 during peak hours for passenger vehicles.

Emergency vehicles like fire trucks, ambulances and police cars, as well as vehicles carrying people with disabilities, were exempted from the new tolls under the state’s congestion pricing legislation .

As for discounts, low-income drivers who make less than $50,000 annually can apply to receive half off the daytime toll after their first 10 trips in a calendar month. In addition, low-income residents of the congestion zone who make less than $60,000 a year can apply for a state tax credit.

All drivers entering the zone directly from four tolled tunnels — the Lincoln, Holland, Hugh L. Carey and Queens-Midtown — will receive a “crossing credit” that will be applied against the daytime toll. The credit will be $5 round-trip for passenger vehicles, $12 for small trucks and intercity and charter buses, $20 for large trucks and tour buses, and $2.50 for motorcycles. No credits will be offered at night.

Grace Ashford contributed reporting.

Winnie Hu is a Times reporter covering the people and neighborhoods of New York City. More about Winnie Hu

Ana Ley is a Times reporter covering New York City’s mass transit system and the millions of passengers who use it. More about Ana Ley

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The People’s Business – April 8, 2024

Congratulations and welcome to the newest member of the City Council, Councilmember Henry Foster III, representing D4. On Tuesday morning Council will hear some informational items, including a retroactive lease with the Federal Aviation Administration. In the afternoon, they’ll hear a few more informational items which include the Transportation Department Pavement Management Plan; they’ll also discuss sewer bonds.

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From the Office of Council President Sean Elo-Rivera

City council meeting – april 9, 2024 – 10 a.m. .

Council Meeting Agenda

10 a.m. – Consent Agenda, Proclamations, Information and Adoption Agenda, Non-agenda Public Comment

2 p.m. – Informational Items, Discussion Items

Consent Agenda

There are 37 items on the Consent Agenda.

There are five ordinances to be introduced; these are a range of amendments to agreements, such as equipment rental, construction services, the addition of three vehicles to the Lifeguard Fleet of 35, as-needed engineering services, and computer-aided drafting and design services.

There are six ordinances to be adopted. These include an amendment for the professional design and construction support services of pump station 2, and the exemption of one program coordinator position for the Office of the Chief Operating Officer from the Classified Service.

And 26 resolutions to be adopted, including an agreement to provide chilled water to the Balboa Theatre; eliminate the juvenile library accounts sent to collections and create a one-time opportunity program for youth; a five-year contract to provide custodial services to the library; a 20-year lease agreement with the Federal Aviation Administration; three grant award for multiple City projects; three appointments to boards and commissions; as well as funds to multiple nonprofits across council districts.

Proclamations

Item 30 — Denim Day 2024

This item recognizes Denim Day, as a day to spread awareness around sexual violence issues, support survivors, and educate ourselves and others.

Item 31 — San Diego Saves Week 2024

This item recognizes San Diego Saves as a partner in the America Saves Week campaign, committed to helping individuals and families take immediate financial action to save successfully and build generational wealth, not debt.

Item 32 — San Diego Bike Month

This item recognizes May as National Bike Month, and Thursday, May 16th, 2024, as San Diego’s Bike Anywhere day.

Item 33 — Choul Chnam Thmey Moha Sangkran Day

This item celebrates the preservation and promotion of Khmer cultural heritage through education, charitable events, and activities, including language, art, music, and authentic cuisine through the Annual Khmer New Year Festival, a two-day event.

Item 34 — Mt. Soledad National Veterans Memorial 70th Anniversary Day

This item commemorates the 70th anniversary of the Mt. Soledad National Veterans Memorial, with 2,400+ plaques recognizing servicemembers intended to honor those who sacrificed their lives for our country during the First and Second World Wars and the Korean Conflict.

Item 35 — Child Abuse Prevention Month

This item recognizes the importance of families, communities, and governments working together to prevent child abuse and neglect.

Item 36 — Soapy Joe’s Day

This item recognizes Soapy Joe's Car Wash, a leading eco-friendly car wash and family-owned-and-operated business with 23 locations throughout San Diego County that has shared in the City's commitment to environmental sustainability for more than 12 years.

Item 37 — Week of the Young Child

This item commemorates the Week of the Young Child®, an annual celebration to focus public attention on the needs of young children and their families and to recognize the early childhood programs and services that meet those need.

Item 38 — Letter Carriers’ Stamp Out Hunger® Food Drive Day

This item recognizes how the second Saturday in May, letter carriers across the country collect non-perishable food as part of the nation's largest one-day food drive, distributing the donations to local food banks.

Item 39 — 39th Annual Linda Vista Multi-Cultural Fair & Parade Day

This item recognizes the 39th Linda Vista Multi-Cultural Fair & Parade as it promotes and celebrates the diverse cultures that are present within San Diego through cultural exhibits, ethnic food offerings, and artistic performances throughout the day.

Item 40 — Janet Kaye Day

This item commends Janet Kaye a resident and community leader in the City of San Diego’s Linda Vista neighborhood who served as Chair of the Linda Vista Planning Group, President of the Linda Vista Community Development Corporation, and worked tirelessly as the Director and Board Member for the Linda Vista Multi-Cultural Fair & Parade for over 30 years.

Item S500 — Jerry Turner Day

This item commends Jerry Turner, as they retire from POZabilities after 26 years of volunteer service to San Diego’s HIV+ community.

Item S501 — Arden Pala Day

This item commends Arden Pala for his compassion, commitment, and drive to help the community’s most vulnerable populations.

Item S502 — National Public Safety Dispatcher Week

This item recognizes Public Safety Dispatchers, are trained to serve as the link for public safety by monitoring their activities, providing them information and ensuring their safety; they are the first and most critical contacts residents and visitors have with emergency services.

Item S503 — Municipal Clerks Week

This item recognizes the Office of the Municipal Clerk, which serves as the bridge between the residents of San Diego and their city government—from creating a space for residents to connect with their elected officials through City Council meeting management to managing elections and providing essential information and passport services.

Information and Adoption Agenda — to be heard at the 10 a.m. session

Item 330 — Consummation of Settlement Agreement by Approval of (1) Encroachment Maintenance and Removal Agreement and (2) Easement Agreement Related to Portion of City-Owned Real Property Located at Third Avenue and Olive Street, San Diego, CA (APN 452-718-01) with the Owner of the Adjacent Property at 2765 Second Ave, San Diego, CA 92103 (APN 452-718-02), Jennifer J. Hasso-Najm, Trustee of The Najm Family Trust Dated 05-19-97.

inside of an office with the aisle down the middle and two rows of cubicles lined up

Item 331 — Contract Between City of San Diego and Goforth & Marti (doing business as, GM Business Interiors) for Herman Miller System Brand Office Furniture and Related Services

The City seeks to enter into an agreement with Goforth & Marti (doing business as, GM Business Interiors) to provide as-needed goods and services for modular office furniture and related services for Herman Miller System brand products. The agreement will ensure that the City is able to continue its efforts to standardize and ensure compatibility with existing office furniture systems throughout the City.

Item 332 — Four-Year, Four-Month Retroactive Standard Space Lease with the Federal Aviation Administration for Approximately 7,736 Square Feet of Office Space at Montgomery-Gibbs Executive Airport, Located at 8525 Gibbs Drive, Suite 120, San Diego, CA 92123, and a Waiver of Requirements in Council Policy 700-10 and Council Policy 300-11

Informational Items — to be heard at the 2 p.m. session

Street Division crew repairing pot holes

Item 333 — Transportation Department Pavement Management Plan

The Transportation Department has developed a Pavement Management Plan to assess the current condition of the street network, outline strategic investment needs, and propose implementation strategies. The Pavement Management Plan includes historic and recent pavement condition assessments, funding history, scenarios for achieving the target Pavement Condition Index score, and 5-Year Plan identifying streets slated for improvement. The 5-Year Plan, available on the City's website, provides details on specific streets and repair activities planned if funding is secured.

The 5-Year Plan is available on the City’s website at https://streets.sandiego.gov/ .

The PMP can be found here: https://www.sandiego.gov/transportation/programs/pavement-management-plan

Item 334 — Performance Audit of the City’s Street Maintenance Program

The Office of the City Auditor conducted a performance audit of the City’s street maintenance program to determine whether the Transportation Department adequately plans for street maintenance to ensure that repairs are efficient, effective, equitable, and sufficiently funded. The audit had five findings.

The Office of the City Auditor made seven recommendations to help ensure the Street Maintenance Program is transparent, efficient, equitable, and sufficiently funded. The City’s recently released 5-year Pavement Management Plan encompasses many elements of the City Auditor’s recommendations.

Discussion Agenda

Item 335 — Authorization for the Public Facilities Financing Authority of the City of San Diego Sewer Revenue Bonds

This Action requests the issuance of the Public Facilities Financing Authority of the City of San Diego Sewer Revenue Bonds, in one or more series, to finance capital improvements to the Wastewater System.

Item 336 — Appropriation and Expenditure of Water Infrastructure Finance and Innovation Act (WIFIA) Loan and Debt Funded General Fund Capital Improvement Program Funds, and Authorization of Consolidated Budget Adjustments for Stormwater Capital Improvement Program

This request seeks approval for several financial allocations related to the Water Infrastructure Finance and Innovation Act (WIFIA) loan and debt-funded Capital Improvement Projects. Specifically, it involves:

1. Appropriating $72,224,841.20 from the initial credit agreement of the WIFIA loan.

2. Increasing the appropriation of debt-funded CIP budget by $182,964,935.86 from Fund 400881, Debt Funded GF CIP, to cover the WIFIA loan match and finance stormwater emergency projects.

3. Making consolidated budget adjustments to accommodate these allocations.

This action aims to facilitate the funding required for water infrastructure projects and stormwater emergency initiatives through a combination of WIFIA loans and debt-funded Capital Improvement Projects budgets.

Item 337 — Authorization of the Retention of Hawkins Delafield & Wood LLP as Outside Counsel for Legal Matters Related to the City’s Water Utility Fund

The action authorizes the mayor or designee to retain Hawkins Delafield & Wood LLP to serve as Outside Counsel for legal matters related to the City’s Water Utility Fund and pay an amount not to exceed $840,000 over a term of five years.

Item 338 — Authorization of the Retention of Stradling Yocca Carlson & Rauth LLP as Outside Counsel for Legal Matters Related to the City’s General Fund

The action authorizes the Mayor or designee to retain Stradling Yocca Carlson & Rauth LLP to serve as Outside Counsel for legal matters related to the City’s General Fund and pay an amount not to exceed $1.1 million over a term of five years.

To participate in the meeting, click on the agenda and follow the instructions. 

You can watch the meeting on cable TV channel 24 or AT&T channel 99, or  stream it online .

Join our mailing list  and get "The People's Business" delivered to your inbox.  Find an index of past posts .

El negocio de la gente – 8 de abril de 2024

Felicitaciones y bienvenidos al miembro más nuevo del Concejo Municipal, el concejal Henry Foster III, representante del cuarto distrito. La mañana del martes el Concejo escuchará algunos temas informativos, incluido un contrato de arrendamiento retroactivo con la Administración Federal de Aviación. Por la tarde, escucharán algunos elementos informativos más que incluyen el Plan de Manejo de Pavimentos del Departamento de Transporte; también tendrán una discusión sobre los bonos de alcantarillado.

De la Oficina del presidente del Concejo, Sean Elo-Rivera

Reunión del concejo municipal – 9 de abril de 2024 – 10 a.m..

Orden del día de la reunión del Concejo

10 a.m. – Orden del día convenido, proclamaciones, agenda de información y adopción, comentario público fuera de la agenda

2 p.m. – Temas Informativos, Temas de Discusión

Orden del día convenido

Hay 37 puntos en el orden del día convenido.

Hay cinco ordenanzas que se presentarán; se trata de una serie de enmiendas a los acuerdos, como el alquiler de equipos, los servicios de construcción, la incorporación de tres vehículos a la flota de 35 salvavidas, los servicios de ingeniería necesarios y los servicios de dibujo y diseño asistidos por computadora.

Hay seis ordenanzas que deben adoptarse. Estos incluyen una enmienda para los servicios profesionales de apoyo al diseño y la construcción de la estación de bombeo 2, y la exención del Servicio Clasificado de un puesto de coordinador de programas para la Oficina del director de Operaciones.

Y 26 resoluciones que se adoptarán, incluido un acuerdo para proporcionar agua fría al Teatro Balboa; eliminar las cuentas juveniles de la biblioteca enviadas al Departamento de Colecciones y crear un programa de oportunidad única para los jóvenes; un contrato de cinco años para prestar servicios de intendencia a la biblioteca; un contrato de arrendamiento por 20 años con la Administración Federal de Aviación; otorgar tres subvenciones para múltiples proyectos de la Ciudad; tres nombramientos en juntas y comisiones; así como fondos para múltiples organizaciones sin fines de lucro en todos los distritos del Concejo.

Proclamaciones

Tema 30 - Día de la Mezclilla 2024

Este elemento reconoce el Día de la Mezclilla como un día para crear conciencia sobre los problemas de violencia sexual, apoyar a los sobrevivientes y educarnos a nosotros mismos y a los demás.

Tema 31 - San Diego salva la semana 2024

Este elemento reconoce a San Diego Saves como socio de la campaña America Saves Week, comprometida a ayudar a las personas y familias a tomar medidas financieras inmediatas para ahorrar con éxito y generar riqueza generacional, no deudas.

Tema 32 - Mes de la Bicicleta de San Diego

Este elemento reconoce mayo como el Mes Nacional de la Bicicleta, y el jueves 16 de mayo de 2024, como el día de Bike Anywhere de San Diego.

Tema 33 - Día de Chawl Chanam Thame Maha Songkran

Este elemento celebra la preservación y promoción del patrimonio cultural jemer a través de la educación, eventos benéficos y actividades, que incluyen el idioma, el arte, la música y la cocina auténtica a través del Festival Anual del Año Nuevo Khmer, un evento de dos días.

Tema 34 - Día del 70º aniversario del Monumento Nacional a los Veteranos de Mt. Soledad

Este elemento conmemora el 70 aniversario del Monumento Nacional a los Veteranos del Monte Soledad, con 2,400+ placas que reconocen a los miembros del servicio con la intención de honrar a aquellos que sacrificaron sus vidas por nuestro país durante la Primera y Segunda Guerra Mundial y el Conflicto de Corea.

Tema 35 - Mes de la Prevención del Maltrato Infantil

Este elemento reconoce la importancia de que las familias, las comunidades y los gobiernos trabajen juntos para prevenir el abuso y la negligencia infantil.

Tema 36 - Día de Soapy Joe

Este elemento reconoce a Soapy Joe's Car Wash, un lavado de autos ecológico líder y un negocio familiar con 23 ubicaciones en todo el condado de San Diego que ha compartido el compromiso de la ciudad con la sostenibilidad ambiental durante más de 12 años.

Tema 37 - Semana del Niño Pequeño

Este elemento conmemora la Semana del Niño Pequeño®, una celebración anual para centrar la atención pública en las necesidades de los niños pequeños y sus familias y para reconocer los programas y servicios para la primera infancia que satisfacen esas necesidades.

Tema 38 - Día de los carteros para acabar con el hambre en la colecta de alimentos

Este elemento reconoce cómo el segundo sábado de mayo, los carteros de todo el país recolectan alimentos no perecederos como parte de la colecta de alimentos de un día más grande del país, distribuyendo las donaciones a los bancos de alimentos locales.

Tema 39 - 39º Día Anual de la Feria y Desfile Multicultural de Linda Vista

Este elemento reconoce la 39ª Feria y Desfile Multicultural de Linda Vista, ya que promueve y celebra las diversas culturas que están presentes en San Diego a través de exhibiciones culturales, ofertas de comida étnica y actuaciones artísticas durante todo el día.

Tema 40 - Día de Janet Kaye

Este elemento elogia a Janet Kaye, residente y líder comunitaria en el vecindario de Linda Vista de la ciudad de San Diego, quien se desempeñó como presidenta del Grupo de Planificación de Linda Vista, presidenta de la Corporación de Desarrollo Comunitario de Linda Vista y trabajó incansablemente como directora y miembro de la junta directiva de la Feria y Desfile Multicultural de Linda Vista durante más de 30 años.

Tema S500 - Día de Jerry Turner

Este elemento felicita a Jerry Turner, ya que se retira de POZabilities después de 26 años de servicio voluntario a la comunidad VIH+ de San Diego.

Tema S501 - Día de Arden Pala

Este elemento elogia a Arden Pala por su compasión, compromiso e impulso para ayudar a las poblaciones más vulnerables de la comunidad.

Tema S502 - Semana Nacional del Despachador de Seguridad Pública

Este elemento reconoce a los Despachadores de Seguridad Pública, están capacitados para servir como enlace para la seguridad pública mediante el monitoreo de sus actividades, brindándoles información y garantizando su seguridad; son los primeros y más críticos contactos que los residentes y visitantes tienen con los servicios de emergencia.

Tema S503 - Semana de los Secretarios Municipales

Este elemento reconoce a la Oficina del secretario Municipal, que sirve como puente entre los residentes de San Diego y el gobierno de su ciudad, desde la creación de un espacio para que los residentes se conecten con sus funcionarios electos a través de la gestión de las reuniones del Concejo Municipal hasta la gestión de las elecciones y la prestación de información esencial y servicios de pasaportes.

Orden del día de información y aprobación - se escucharán en la sesión de las 10 a.m.

Tema 330 - Consumación del Acuerdo de Conciliación mediante la Aprobación de (1) Acuerdo de Mantenimiento y Remoción de Invasión y (2) Acuerdo de Servidumbre Relacionado con la Parte de la Propiedad de la Ciudad ubicada en Third Avenue y Olive Street, San Diego, CA (APN 452-718-01) con el Propietario de la Propiedad Adyacente en 2765 Second Ave, San Diego, CA 92103 (APN 452-718-02), Jennifer J. Hasso-Najm, Fideicomisario del Fideicomiso de la Familia Najm con fecha 19-05-97.

Tema 331 - Contrato entre la Ciudad de San Diego y Goforth & Marti (que opera bajo el nombre de GM Business Interiors) para muebles de oficina y servicios relacionados de la marca Herman Miller System

La Ciudad busca celebrar un acuerdo con Goforth & Marti (que opera bajo el nombre de GM Business Interiors) para proporcionar bienes y servicios según sea necesario para muebles de oficina modulares y servicios relacionados para los productos de la marca Herman Miller System. El acuerdo asegurará que la Ciudad pueda continuar sus esfuerzos para estandarizar y asegurar la compatibilidad con los sistemas de mobiliario de oficina existentes en toda la Ciudad.

Tema 332 - Arrendamiento retroactivo de espacio estándar de cuatro años y cuatro meses con la Administración Federal de Aviación por aproximadamente 7,736 pies cuadrados de espacio de oficinas en el Aeropuerto Ejecutivo Montgomery-Gibbs, ubicado en 8525 Gibbs Drive, Suite 120, San Diego, CA 92123, y una exención de requisitos en la Política del Concejo 700-10 y la Política del Concejo 300-11

Temas informativos - se escucharán en la sesión de las 2 p.m.

Tema 333 - Plan de Manejo de Pavimentos del Departamento de Transporte

El Departamento de Transporte ha desarrollado un Plan de Manejo de Pavimentos para evaluar la condición actual de la red de calles, delinear las necesidades estratégicas de inversión y proponer estrategias de implementación. El Plan de Gestión del Pavimento incluye evaluaciones históricas y recientes del estado del pavimento, historial de financiación, escenarios para alcanzar el objetivo de puntuación del Índice de Condición del Pavimento y un Plan de 5 años que identifica las calles programadas para mejoras. El Plan de 5 años, disponible en el sitio web de la Ciudad, proporciona detalles sobre calles específicas y actividades de reparación planificadas si se aseguran los fondos.

El Plan de 5 años está disponible en el sitio web de la Ciudad en https://streets.sandiego.gov/ .

El PMP se puede encontrar aquí: https://www.sandiego.gov/transportation/programs/pavement-management-plan

Tema 334 - Auditoría de Desempeño del Programa de Mantenimiento de Calles de la Ciudad

La Oficina del Auditor de la Ciudad llevó a cabo una auditoría de desempeño del programa de mantenimiento de calles de la Ciudad para determinar si el Departamento de Transporte planifica adecuadamente el mantenimiento de las calles para garantizar que las reparaciones sean eficientes, efectivas, equitativas y cuenten con fondos suficientes. La auditoría arrojó cinco conclusiones.

La Oficina del Auditor de la Ciudad hizo siete recomendaciones para ayudar a garantizar que el Programa de Mantenimiento de Calles sea transparente, eficiente, equitativo y esté suficientemente financiado. El Plan de Gestión de Pavimentos de 5 años recientemente publicado por la Ciudad abarca muchos elementos de las recomendaciones del Auditor de la Ciudad.

Agenda de discusión

Tema 335 - Autorización para la Autoridad de Financiamiento de Instalaciones Públicas de la Ciudad de San Diego Bonos de Ingresos de Alcantarillado

Esta acción solicita la emisión de Bonos de Ingresos de Alcantarillado de la Autoridad de Financiamiento de Instalaciones Públicas de la Ciudad de San Diego, en una o más series, para financiar mejoras de capital al Sistema de Aguas Residuales.

Tema 336 - Asignación y Gasto de Fondos del Programa de Mejoras de Capital del Fondo General de la Ley de Financiamiento e Innovación de la Infraestructura de Agua (WIFIA) y Autorización de Ajustes Presupuestarios Consolidados para el Programa de Mejoras de Capital de Aguas Pluviales

Esta solicitud busca la aprobación de varias asignaciones financieras relacionadas con el préstamo de la Ley de Financiamiento e Innovación de Infraestructura de Agua (WIFIA, por sus siglas en inglés) y los Proyectos de Mejora de Capital financiados con deuda. En concreto, se trata de:

1. Apropiación de $72,224,841.20 del contrato de crédito inicial del préstamo WIFIA.

2. Aumentar la asignación del presupuesto del CIP financiado con deuda en $182,964,935.86 del Fondo 400881, Financiado por la Deuda GF CIP, para cubrir la contrapartida de préstamos de WIFIA y financiar proyectos de emergencia de aguas pluviales.

3. Realizar ajustes presupuestarios consolidados para dar cabida a estas asignaciones.

Esta acción tiene como objetivo facilitar el financiamiento requerido para proyectos de infraestructura de agua e iniciativas de emergencia de aguas pluviales a través de una combinación de préstamos WIFIA y presupuestos de proyectos de mejora de capital financiados con deuda.

Tema 337 - Autorización de la Retención de Hawkins Delafield & Wood LLP como Asesor Externo para Asuntos Legales Relacionados con el Fondo de Servicios Públicos de Agua de la Ciudad

La acción autoriza al alcalde o a la persona designada a contratar a Hawkins Delafield & Wood LLP para que actúe como asesor externo para asuntos legales relacionados con el Fondo de Servicios de Agua de la Ciudad y pague una cantidad que no exceda los $840,000 durante un período de cinco años.

Tema 338 - Autorización de la Retención de Stradling Yocca Carlson & Rauth LLP como Asesor Externo para Asuntos Legales Relacionados con el Fondo General de la Ciudad

La acción autoriza al alcalde o a la persona designada a contratar a Stradling Yocca Carlson & Rauth LLP para que actúe como Asesor Externo para asuntos legales relacionados con el Fondo General de la Ciudad y pague una cantidad que no exceda los $1.1 millones durante un período de cinco años.

Para participar en la reunión, haga clic en el Orden del Día y siga las instrucciones.  

Puede ver la reunión en el canal 24 de televisión por cable o en el canal 99 de AT&T, o ver la transmisión en línea .   

Únase a nuestra lista de correo y reciba "The People's Business/El Negocio de la Gente" por correo electrónico. Encuentre un índice de publicaciones anteriores .  

Síganos en Threads para obtener actualizaciones en vivo de los temas durante las reuniones.

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The Best 10 Business Planning Tools for Startups
Creating a Business Plan: Why it Matters and Where to Start
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9 Key Elements of an Effective Business Plan
How to Create a Business Plan in 1 Day [Updated 2022]

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COMMENTS

10 Best Business Plan Software In 2024
The Best Business Plan Software of 2024. Wrike: Best overall. Smartsheet: Best for goal management. LivePlan: Best for financial forecasting. Aha!: Best for roadmapping. Bizplan: Best for ...
14 Useful Tools for Writing a Business Plan
Enloop - With this tool, you add in your information, and Enloop automatically writes your plan based on your details. LivePlan - LivePlan is an online service that simplifies the business planning process while providing assistance with budgeting, forecasting, and performance tracking. RocketLawyer - Business owners can create a customized ...
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Download Now: Free Business Plan Template. 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.
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5. Enloop. Enloop emerges as one of the best business plan tools for startups, catering to entrepreneurs who crave a streamlined planning process. With the ability to automatically generate basic text for each section of your plan, Enloop saves time and effort in crafting your business vision.
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4. IdeaBuddy. Ideabuddy is an innovative business plan software helping new-age entrepreneurs turn their ideas into successful business plans. Customizable templates, industry-based guides, and streamlined idea and business plan creation make it one of the most user-friendly applications on the list.
5 Best Business Plan Software and Tools 2023
5 Best Business Plan Software and Tools in 2023 for Your Small Business. Entrepreneurs who write formal business plans are 16% more likely to achieve success than entrepreneurs who don't. 1 This software can help. Data as of 3/13/23. Offers and availability may vary by location and are subject to change.
5 Best Business Plan Software in 2022
Six-month plan: $18 per month, billed every six months. Pay-as-you-go plan: $20 per month, billed once every month. 2. GoSmallBiz. Best for multiple business management tools in one platform. Next ...
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More Than A Business Plan Template Claim Your Business Plan. Plannit.ai is an AI-driven business planning platform that helps entrepreneurs, business owners, students and business consultants create professional business plans in minutes. Answer questions about your vision and generate a full professional business plan.
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Step #3: Conduct Your Market Analysis. Step #4: Research Your Competition. Step #5: Outline Your Products or Services. Step #6: Summarize Your Financial Plan. Step #7: Determine Your Marketing Strategy. Step #8: Showcase Your Organizational Chart. 14 Business Plan Templates to Help You Get Started.
Business Plan: What It Is, What's Included, and How to Write One
Business Plan: A business plan is a written document that describes in detail how a business, usually a new one, is going to achieve its goals. A business plan lays out a written plan from a ...
Your Complete Guide to Writing a Business Plan: What You Need ...
7. Goals. The goals portion of your business plan gives readers a better idea of where your business is headed. Try to include a mix of quarterly goals, annual goals, and goals that span five or 10 years. For each goal you share, include a few bullet points explaining: Your timeline for reaching the goal.
8 Business Plan Tools for Startups and Beyond
5. Growthink's Business Plan Template. Growthink offers both free and paid business plan templates. We'll focus on the free version in this article, but feel free to take advantage of their paid version, which adds on more features, including automatically generating your five-year financial forecasts.
Writing a Small Business Plan in 7 Steps
Marketing plan: Identify your niche. Here, you'll highlight how you plan to promote your business and generate revenue. Describe in detail what your product or service does and how it will help consumers. Explain how your product is unique from others on the market, and how you will promote your business and generate revenue.
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A written business plan provides two important benefits with regards to managing your business. First, it helps you plan for the future. By this, we mean that it identifies the essential events that must occur and actions that must be taken to run and operate the business. Thus it serves as a timetable that provides concrete goals and deadlines.
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Learn about the best business plan software. 1. Write an executive summary. This is your elevator pitch. It should include a mission statement, a brief description of the products or services your ...
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Bottom line, the business plan makes you think, quantitatively and qualitatively, about why, what and how you are to proceed. It helps you think about the highs and the lows, the advantages and the disadvantages, the potential for success and for failure. While you might have a successful business without a business plan, it is far more likely ...
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Better motivation and improved morale: By creating a shared vision and purpose, you give your team a reason to feel invested in the business's success, leading to a more engaged and productive workforce. Greater adaptability: Strategic planning equips you with the tools to anticipate change and adapt quickly.
11.4 The Business Plan
Like the canvas, the various versions of the business plan are tools that will aid you in your entrepreneurial endeavor. Business Plan Overview. Most business plans have several distinct sections (Figure 11.16). The business plan can range from a few pages to twenty-five pages or more, depending on the purpose and the intended audience.
What Equipment and Facilities to Include in Your Business Plan
This is part 1 / 11 of Write Your Business Plan: Section 5: Organizing Operations and Finances series. A manufacturer will likely need all sorts of equipment, such as cars, trucks, computers ...
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1. SBA's Build your business plan tool. This tool provides a step by step process to initiate and complete a business plan . This tool requires its users to create an account which only the users can access. This tool divides the entire business plan into different sections.
9 AI Tools to Improve Your Business's Marketing
These AI tools can help your small business scour the web for brand mentions, create content, automate workflows, and analyze customer insights. — Getty Images/PixelsEffect With the proliferation of artificial intelligence (AI), many businesses are using AI-powered tools and software to streamline their operations and gain valuable market ...
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Include an Industry Analysis. Describe the existing conditions in the market sector that your restaurant will exist in, as well as in the specific location or area that you plan to open the restaurant.. This section should cover things like the growth of the local economy and industry, existing restaurants in the area, ongoing or upcoming infrastructure projects, nearby business and ...
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Spanish MPs must first approve a change in the law in order for the golden visa to be scrapped. In a study published last year, Transparency International's Spain arm said the country had ...
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Free business plan template. A fill-in-the-blank template designed for business owners. Download Now. Sample Plans. Popular Plans. ... Those services all offer integrated online invoicing tools, which can save you time and effort, and many include an online "pay now" option, which can reduce the amount of time you wait to get paid. ...
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A business plan can span from a quick roadmap sketched on the back of a napkin to a hefty document carefully crafted to align with industry standards. Regardless of size, it should contain certain ...
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The People's Business
Congratulations and welcome to the newest member of the City Council, Councilmember Henry Foster III, representing D4. On Tuesday morning Council will hear some informational items, including a retroactive lease with the Federal Aviation Administration. In the afternoon, they'll hear a few more informational items which include the Transportation Department Pavement Management Plan; they ...