How to Build a Detailed Business Plan That Stands Out [Free Template]
Updated: September 20, 2024
Published: June 14, 2017
When you already have a well-established business and need a business plan, it’s usually not difficult because you know everything inside out.
But when you’re a startup and need to create your first detailed business plan, it’s a challenge. A serious challenge. Been there — done that.
My first business plan was, to put it mildly, a disaster. It had so many unnecessary details and lacked essentials that it was practically a novel.
So, I sought professional help with writing the business plan and learned everything I’m going to share with you today.
Let’s learn how to craft an organized and well-thought-out business idea that answers potential investors’ questions.
Table of Contents
Business Plan Template
Building a successful business plan, how to build a business plan, from mistakes to milestones: what my business plan taught me.
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Free Business Plan Template
The essential document for starting a business -- custom built for your needs.
- Outline your idea.
- Pitch to investors.
- Secure funding.
- Get to work!
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To make this post practical from the get-go, I’ll walk you through the process of filling out your business plan template, like this free, editable version :
Download the template for free.
1. Cover Page
Your business plan should be prefaced with an eye-catching cover page. This means including a high-resolution image of your company logo, followed by your company's name, address, and phone number.
Since this business plan will likely change hands and be seen by multiple investors, you should also provide your own name, role in the business, and email address on the cover page.
At the bottom of this page, you can also add a confidentiality statement to protect against the disclosure of your business details.
The statement can read as follows: " This document contains confidential and proprietary information created by [your company name]. When receiving this document, you agree to keep its content confidential and may only reproduce and/or share it with the express written permission of [your company name] ."
Keep your cover page simple and concise — and save the important details for other sections.
Why it matters: First impressions are everything, and a clean cover page is the first step in the right direction.
Examples of a Cover Page
There is no single ideal cover page that every business should follow.
For instance, if you're in real estate, you might want a catchy design showcasing luxury villas, jacuzzis, palm trees, and so on — you get my point.
On the other side, if you're in finance, you might prefer a more corporate style like this:
Our goal is to generate approximately $50,000 in monthly revenue within the first six months. We expect to reach a break-even point around this time. As we scale, we project significant growth, aiming for $200,000 in monthly revenue by the end of the first year."
10. Appendix
A detailed and well-developed business plan can range anywhere from 20 to 50 pages, with some even reaching upward of 80.
In many cases, the appendix is the longest section.
Because it includes the supportive materials mentioned in previous sections.
To avoid disrupting the flow of the business plan with visuals, charts, and spreadsheets, business owners usually add them in the last section, i.e., the appendix.
Aside from what I've already mentioned — marketing plan, sales plan, department budgets, financial documents — you may also want to attach the following in the appendix:
- Marketing materials.
- Market research data.
- Licensing documentation.
- Branding assets .
- Floor plans for your location.
- Mockups of your product.
- Renderings of your office space or location design.
Adding these pieces to the appendix enriches the reader‘s understanding of your business and proves you’ve put the work into your business plan without distracting from the main points throughout the plan.
Example of Appendix
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How to Write a One-Page Business Plan
Noah Parsons
5 min. read
Updated July 29, 2024
What’s the most challenging part of writing a business plan? Getting started. That’s why you should create a one-page plan as a starting point.
The one-page business plan is simple to create, easy to update, and built for adaptation. It includes all of the essential components of a traditional plan but is far briefer and more focused.
Think of it like you’re tweeting about your business. You have a limited number of characters to work with and are intentionally making it easy to digest. If you need additional support, try downloading our free one-page business plan template .
- What is a one-page business plan?
The one-page business plan is a simplified version of traditional operational plans that focuses on the core aspects of your business. While it may be a shorter business plan, it still follows the structure of a standard business plan and serves as a beefed-up pitch document.
There’s really not much difference between a single-page business plan and a good executive summary. In fact, as you create a more detailed plan you may even be able to use it as your executive summary .
- What to include in your one-page plan
Here are the eight necessary sections to include when developing your one-page business plan.
Try and keep each section limited to 1-2 sentences or 3-4 bullet points to ensure that you stay within one page. It’s always easier to add more later rather than cutting back from lengthy sections.
The problem
A description of the problem or need your customers have and any relevant data that supports your claim.
The solution
Your product or service and how it solves the problem.
Business model
How you will make money—including the costs of production and selling, and the price that customers will pay.
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Target market
Who is your customer and how many of them are there? Define your ideal customer by starting with a broad audience and narrowing it down. This provides investors with a clear picture of your thought process and understanding of the greater consumer market.
Competitive advantage
What makes you different from the competition? Explain how this will lead to greater success, customer loyalty, etc.
Management team
The management structure of your business, including currently filled roles, ideal candidates, and any management gaps.
Financial summary
Key financial metrics include your profit and loss, cash flow, balance sheet, and sales forecast. This section may be the most difficult part to condense, so try and focus on visualization and standard business ratios to get the point across. You can always share broader financial information if requested.
Funding required
Have what funding total you need front and center to clearly display what you are asking from investors.
Why you should start with a one-page plan
There are plenty of good reasons to write a business plan . There are even more reasons why your first step should be writing a one-page plan.
1. It’s faster
Instead of slogging away for hours, days, or even weeks tackling a formal business plan—the one-page format helps you get your ideas down much faster. In fact, with the right process and preparation, you can write a working one-page business plan in under an hour .
2. A great format for feedback
Need quick feedback from business partners, colleagues, potential customers, or your spouse? Provide them with a one-page plan instead of a lengthy in-depth version for better results.
The one-page plan is more likely to be read and reviewed. And since all of your business information is available at a glance, you’ll receive far more valuable and timely feedback.
3. Easy to update
Entrepreneurs never get things right the first time. You’ll constantly be learning and receiving feedback—requiring you to iterate and revise your business concept. Instead of updating a large document every time, you can do it in minutes with a one-page plan.
4. Direct and to-the-point
Learning to communicate your ideas clearly and directly is critical. You need to be sure that anyone can really understand the essence of your business. Delivering your entire business concept on a single page is a great way to practice this, as it forces you to be succinct.
5. Works as an idea validation tool
Initially, your business is just a set of assumptions that you need to validate. Do your potential customers have the problem you assume they have? Do they like your solution and are they willing to pay for it? What marketing and sales tactics will work?
As you validate these assumptions, you leave them in your plan. But, assumptions that end up being wrong will quickly fall off the page.
6. Becomes an outline for your detailed plan
By “detailed” we don’t mean “long.” If you do need to create a detailed business plan document for investors or business partners, you can use your one-page plan as your core outline. You will just expand and provide more details for each section.
7. No one really reads long business plans
A common problem with traditional business plans is that they are simply too long and overly complex. Even when investors ask for a detailed document, chances are that they won’t actually read every word. They may read certain sections, but often just want to see if you’ve thought through the details of your business, how it will operate, and how it will grow.
8. Useful for any business stage
A one-page plan is useful for business owners that are mulling over ideas, just starting, actively managing, or looking to grow a business. It can help validate a business idea, work as an internal strategy document, or as a flexible management tool that can be adapted over time.
Resources to help you write a business plan
While I highly recommend that you at least start with a one-page business plan, there are times where a more traditional business plan is necessary—such as applying for a loan or pitching to investors.
For additional support, check out our guide on writing a detailed business plan and download our free business plan template .
Noah is the COO at Palo Alto Software, makers of the online business plan app LivePlan. He started his career at Yahoo! and then helped start the user review site Epinions.com. From there he started a software distribution business in the UK before coming to Palo Alto Software to run the marketing and product teams.
Table of Contents
- Why start with a one-page plan
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Are you struggling to write a plan for your business? Writing one can be challenging. We'll show you how to write a business plan with our complete guide and template.
It can help you craft a strong business plan, describe your company, set future goals, detail your product line, address legal requirements, include financial projections, and define your target audience.
By “detailed” we don’t mean “long.” If you do need to create a detailed business plan document for investors or business partners, you can use your one-page plan as your core outline. You will just expand and …