A business plan template for startups is a comprehensive document that should outline your business in detail. It should also provide information about your market opportunity, your unique selling point and how the business will make money.
However, a business plan also gives investors an idea of the direction the business will take upon starting and in its normal course of operation. How large the market opportunity would determine if investors would fund your business venture.
This article will give you several business plan templates for startups. These are downloadable templates you can customize for your business.
Why you need a business plan template for startups
Business plan template describes your business, they also cover objectives, strategies, sales, marketing and financial forecasts. A business plan is crucial for you, your employees, investors and in other cases your customers and other shareholders. These are some of the reason you need a business plan template:
- To help you clarify your business idea
- To help you spot potential problems and how to mitigate them
- To set out your goals and milestones in several areas of the business
- To measure your progress
Secret tips to consider when writing or selecting a business plan template for startups
A quick glance should give potential investors or any other person reading the business plan a thorough understanding of your business. You should also have an executive summary of your business, and how it will make money from the target market.
Be specific. Cut out unnecessary jargon and write in the business plan in simple language.
Know your market
Have a thorough understanding of your market, the different market segments and other opportunities that are in your industries. Make sure the plan is clear about the target market, competitors and what differentiates you from every other business out there.
Know your numbers and financials
The growth of businesses are measured by the revenue and the financial health of the business. The essential part of a business plan is the finances. How long will it take the business to break even and generate profits. Investors and loan companies would need your financial forecast and projections to determine if they would invest in your business.
Sample business plan template for startups
How to secure business financing
When you have a business plan that help you to convince customers, suppliers and potential employees to support your business; securing funding for your business becomes easy. A well researched and written business plan will help you secure investment or a loan from a bank.
To access financing you can read this article on the Business Finance Guide website.