Business Planning Guide

Whether you’re an aspiring business owner or a seasoned entrepreneur—here is everything you’ll ever need to know about business planning.

Animated woman holding lightbulb ready to start business planning

What is a business plan?

Learn exactly what a business plan is, why you need one, when to write it, and the fundamental elements that make it a unique tool for business success.

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In this section

Why do you need a business plan?
The scientific benefits of business planning
When should you write a business plan?
How long should your business plan be?
The main components of a business plan
Business vs operational vs strategic plan
Business plan vs business model

Types of business plans

Explore the different business plan formats available to you and determine which plan will best serve your needs.

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In this section

Growth plan
Internal plan
5-year business plan
Nonprofit business plan
Lean plan
What type of business plan do you need?

How to write a business plan

Ready to write your own business plan? Work through our step-by-step guide and explore in-depth overviews of the different plan sections. You can even download a free business plan template to streamline the process.

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In this section

Start with a one-page plan
Write an executive summary
Describe your products and services
Document your market analysis
Show that you know the competition
Outline your marketing and sales plan
Provide an overview of your operations
Track milestones and metrics
Describe your company and team
Make a financial plan and starting forecasts
Add supporting information to an appendix

Tips to write your business plan

A curated selection of business plan writing tips and best practices from our experienced in-house planning experts.

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In this section

1. Do this before writing your business plan
2. Understand what makes a great plan
3. Focus on crafting a compelling message
4. Know why business plans fail
5. Avoid these common planning mistakes
6. Don’t forget to spend time formatting
7. Use the right tools and resources
8. Know all the ways to use your plan
9. Disregard these planning myths
10. Try writing your business plan in one day
11. Participate in writing a business plan month
12. Ask these questions before hiring a business plan writer

Business plans for specific industries

Explore these industry-specific guides for additional tips and details to write your business plan.

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In this section

Bakery business plan
Food truck business plan
Restaurant business plan
Outpatient medical practice business plan
eCommerce business plan
Online fitness business plan
SaaS business plan
Subscription box business plan
Airbnb rental business plan
Fix-n-Flip real estate business plan
Artist business plan
Cannabis business plan
Clothing boutique business plan
Daycare center business plan
Services business plan

Business Plan Templates and Resources

Traditional business plan template

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

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Write your plan faster with LivePlan

Try the business planning and growth tool trusted by over 1 million business owners.

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Sample plan library

Explore over 500 free real-world business plan examples from a wide variety of industries to inspire and guide your own plan.

Browse Sample Business Plans

Business planning ebook

Dive deep into everything you need to write a business plan in this free step-by-step guide.

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Business planning FAQ

Business planning is the act of sitting down to establish goals, strategies, and actions you intend to take to successfully start, manage, and grow a business.