Business Plan Format in 8 simple steps

Business plan format in 8 simple stepsBusiness Plan Format in 8 simple steps

If you are starting a business or in the verge of expansion of business, you may need to prepare a business plan format to present to co-partners or banks to avail loan. In this article, I would detail about how you can quickly prepare a business plan for your business. These simple steps would help you to prepare a good business plan format within a few hours.

Business plan format in 8 simple steps

Step # 1: Prepare executive summary: 

You need to prepare an executive summary about your company which details about what your company does at a very high level, its vision/mission and other success parameters. Here is the quick summary of what you need to cover as part of this step. 

  • Objectives of the company
  • Vision and Mission of the company
  • Success parameters where you might be dependent on loans, secured finance, top talent people, quality of products and services and timelines in which you need to deliver your products or services.

Step # 2: About your Company:

You need to cover about your company, ownership etc. Here are the main points which you need to cover.

  • Owners of the company
  • Assets of the company
  • Liabilities of the company
  • Funding for working capital requirements
  • Where are your offices and divisions located?

Step # 3: Products and Services: You should indicate the following parameters as part of this segment.

  • Description of services and products
  • Competitive analysis report
  • Marketing strategy for products and services
  • Advertising or promotion of products, services or websites including advertising on social media sites
  • Technology movements and how it affects your products or services
  • Future plans for products and services

Step # 4: How is the market: 

You need to cover more from your products and services markets and how your competitors are. This is important part of your entire business plan format. Here is the list of items which you should cover.

  • Market segmentation
  • Products / Services Analysis
  • How to distribute products / services
  • Who are your competitors?
  • What are the products / services sales trends?
  • Who helps to market your products or services? List of franchisee or affiliates.

Step # 5: Business Strategy: 

This section would be more towards the strategies on how you should develop, price and promote your products or services.

  • Marketing and promotional strategies
  • Distribution channel strategies
  • Pricing formulas and strategies
  • Promotion strategies
  • Sales strategies

Step # 6: About your organization: 

You should cover about company structure, key people etc. Here is the quick list.

  • Structure of the organization.
  • Management team in place
  • Key talented people in your company

Step # 7: Financial plan: 

You should cover how your business would look like in terms of finances. Here is a quick list of the areas covered.

  • Important factors to consider
  • Financial indicators
  • Ways to finance your business
  • Break-even point analysis
  • Projected revenues
  • Projected costs for the year
  • Projected Profit and Loss account
  • Projected cash flows (Cash in and cash out)
  • Projected Balance Sheet
  • Projected financial ratios

Step # 8: Index of the summary steps indicated above:

This is the last step in preparing format for your business plan. Here is how it looks like.

  1. Executive Summary
  2. About the company
  3. Products and Services of the company
  4. How large is the market segment you target
  5. What is the business Strategy?
  6. Organization / Management structure and key people
  7. Financial Plan indicates projected P&L and Balance Sheet

Readers, I would like to receive your feedback and suggestions about this article. You can leave a comment in below comments section.

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Business Plan Format


Business Plan Format in 8 simple steps — 4 Comments

  1. I read a lot of interesting articles here. Probably you spend a lot of time writing, i know how to save you a lot of work, there is an online tool that creates unique, SEO friendly posts in seconds, just search in google – laranitas free content

  2. Hi Suresh, 

    The business plan steps are simple and very straight forward. Thanks for this post and it helps me lot. we are planning to start a small business in manufacturing segment.

    Also do you have any idea/suggestion or a list of all the steps that is required to get through the initial stages of company registration, working thru various government agencies to get approval and other basic needs to setup. Basically from the time you decide on a business plan to operationalize in all respects like government approvals, legal and finance (audit) clearance to make sure everything is in right place like after 9 -12 months if you want to bid / get contract from big companies.

    I tried googling…but not able to get straight forward guidance. i also been talking to various people, but thatz basically the experiance that comes out of do and donts.

    Appreciate what ever you could get info similar to above post.


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