Business Plans

Business Plan

The Importance of a Business Plan for New Businesses and Existing Businesses

What is a Business Plan ?

A business plan is like a blueprint for guiding a new or existing business in a general direction with common goals,  milestones, KPI’s, and benchmarks outlined at specific intervals. A typical business plan is usually made up of a number of sections dealing with different aspects of your business, and are listed as follows- the executive summary, company overview, business venture overview, product or service line, competitive analysis, market research, profit and loss statement, cost projections, break even analysis, other financial forecasts, and marketing / sales plans and their respective forecasts.

Business plans are crucial to getting a new business launched or for updating an existing businesses model as they help guide entirely separate teams of a business towards common business goals and milestones. Another important reason a business plan is worth creating and having is that it is used as an initial gauge and financial forecast model to cross reference numbers from the business plan to the actual business results.

How to Create a Business Plan – Business Plan Services – Business Plan Software

Creating the actual business plan can be some what of a very time consuming, tedious, and overwhelming task for a new business owner to take on by themselves when in the midst of setting up the rest of their new business. Fortunately there are many free business plan tools, free business planning software, and paid for business plan services that can assist a new business owner with this cumbersome task.
Some of the more well known free business planning software and business planning tools are as follows-
-SBA.gov: The official SBA government website offers a very easy to use dashboard and business plan creating process. All a new business owner has to do is fill in the blanks for the most part. That is assuming of course that you have your research already conducted and your financial projections in hand.
- Bplans: Another popular and well know free business planning website that offers a free business planning platform.
- Plan2Biz.com: A newer form of business plan tool that allows for online collaboration within one specific business plan project.


Popular Top Business Planning Software and Services
Listed below are some of the more well known business plan software, business plan tools, and business plan services that you would have to pay for in order to use.
- LivePlan: This website offers a straight forward, step by step process for creating a professional looking business plan.
- MasterPlans: This is a fairly popular business plan writing and creation service.
- EquityNet: Offers a stand alone business plan software that is quite unique to the rest of the business planning solutions. This particular business planning software offers a free trial version.

Small Business Plans

Weighing all of your options for researching, writing, and creating your business plan; you will start to fully understand the amount of work and business funding which need you will need to have while implementing and executing your new business plan.