How To Write A Business Plan in 2023 Guide?

Every business starts with an idea, which is boiled down into a business plan and shared with the public. A good business plan includes your big hopes and dreams, as well as your short-term and long-term goals, your budget, and anything else you might need to get started.

In this guide, we’ll show you how to write a business plan that you can follow and that will help you run your business as you get started.

Brainstorm an Executive Summary

Drafting the Summary

A very important first step in your business is to write an executive summary. To get investors’ attention and keep it, you need to be able to tell them the most important things about your business in one sentence. This should tell people the name of your business, what you’re selling, and what market you’re going into.

Ask for Help

You should have more than one choice when writing the executive summary. Get a few people to look over your possible executive summaries and help you decide which one is best.

Create a Company Description

How To Write A Business Plan

Once the executive summary is done, you can start working on the company description, which has more detailed information. In the description, you’ll need to list the registered name of your business, its address, and the names of any key employees.

Your business’s structure, such as sole proprietorship, limited liability company (LLC), partnership, or corporation, should also be included in the business description. Now is the time to say how much ownership each person has in the business. Lastly, add a section that talks about the company’s history and how it has changed over time.

Brainstorm Your Business Goals

No matter where you are in your business journey, you should always go back to your goals, figure out how close you are to meeting your current goals, and set new goals to work toward.

Numbers-based Goals

Goals can be about many different parts of your business. Financial and profit goals are a given when starting a business, but there are other goals to think about as well, like growing your brand and getting more people to know about it.

For example, you might want to reach a certain number of followers across all social channels or increase the number of people who interact with your content.

Another goal could be to find new investors or grants for your business if it is not-for-profit. If you want to grow, you should also set goals for how much money you want to make.

Intangible Goals

There are also important goals that have nothing to do with numbers. These can include seeing your business’s ad reach a wide audience or getting a great review from a customer. These goals are important for where you want your business to go in the future and where you want to take it now.

Describe Your Services or Products

There should be a section in the business plan that talks about the services or products you’re selling. Here is where you can also talk about how they fit into the current market or how they offer something that is needed or something completely new. If you have any patents or trademarks, you can put those here as well.

If you have any pictures or other visuals, you should add them here as well. This is also a good place to talk about your pricing strategy and materials.

Conduct Market Research

How To Write A Business Plan

In this part of the business plan, you can go into more detail about your expertise and how your approach is different. Show how what you’re selling is important to the market and how it fills a need.

You can also talk about where your business fits in your industry, how it compares to others in the same field, and how you have an edge in the market.

Create Financial Plans

Aside from financial goals, you should have a budget and plan how much you will spend each week, month, and year. There are many different costs to think about, such as the cost of running the business.

Business Operations Costs

The first big cost to figure into your budget is the rent for your business. If you run your business from home, the software that keeps your virtual operations running will be your rent.

The next thing on your list should be marketing and sales costs. It’s just as important to spend money on making sure people know about your business as it is to make sure it works.

Other Costs

Even though you can’t plan for disasters, there are likely to be costs that you didn’t expect at some point in the life of your business. It’s important to plan for these possible costs in your budget so you don’t get a big surprise.


Business plans are important for all businesses, no matter how big or small, because they help you figure out where your business is and where you want it to go. To grow your business, you need a plan, and a business plan will set you up for success by giving you a road map.

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