Featured Resource: Free Business Plan Template One-Page Business Plan Template Grab your free business plan template here and apply the practices below. 1. Narrow down what makes you different. Before you start whipping up a business plan, think carefully about what makes your business unique first. If you're planning to start a new athletic clothing business, for example, then you'll need to differentiate yourself from the numerous other athletic clothing brands out there.
What makes yours stand out from the others? Are you planning to make clothing for specific sports or athletic activities, like yoga or hiking or tennis? Do you use environmentally friendly material? Does a certain percentage of your proceeds fax number list go to charity? Does your brand promote positive body image? Understanding your brand's positioning in the market will help you generate awareness and sales. Remember: You're not just selling your product or service you're selling a combination of product, value, and brand experience. Think through these big questions and outline them before you dive into the nitty-gritty of your business plan research.
Keep it short. Business plans are more short and concise nowadays than they used to be. While it might be tempting to include all the results of your market research, flesh out every single product you plan to sell, and outline exactly what your website will look like, that's actually not helpful in the format of a business plan. Know these details and keep them elsewhere, but exclude everything but the meat and potatoes from the business plan itself. Your business plan shouldn't just be a quick(ish) read it should be easy to skim, too. 3. You can (and should) change it as you go. Keep in mind that your business plan is a living, breathing document. That means you can update your business plan as things change. For example, you might want to update it a year or two down the road if you're about to apply for a new round of funding. How to Start a Business Plan Write an executive summary.