Although the creation of new companies in the United States has declined in the last 40 years, there were still more than 400,000 startup businesses born in 2014, according to U.S. Census data. Thousands of individuals are faced with the task of developing a well-written business plan for their new venture, and chances are, not all of them are succeeding in creating effective business plans.
In today’s blog, we’ll review some of the essentials for startup business plans as well as how you can ensure that your plan best represents your goals and needs as an entrepreneur.
At Business Plan City, we have helped hundreds of aspiring startup owners turn their dreams of business ownership into reality, and we’d love to help you, too. To learn more about our products and services, shop our variety of business plan packages today!
How Are Startup Business Plans Unique?
When you first set out to create a business plan for your startup company, it may be tempting to scour the internet for tips and templates to help you.
However, for those who are starting their business from the ground up, it is important to know how a startup business plan differs from a business plan for an existing company.
Plans for companies that are already established are likely to focus specifically on one or two areas, such as new products, operations, or departmental goals.
For startup companies, a well-written business will address these areas and more,
essentially providing a winning structure and strategy for a successful business venture.
Presentation is Key
One of the most important considerations for your startup’s business plan is its overall presentation.
Although your business plan will be unique and customized to your specific business venture,
it should be well-organized and include several basic components.
In a previous blog, we reviewed seven main components that should be part of any business plan, including:
- Executive Summary
- Company Summary
- Description of Products
- Market Analysis
- Strategy and Implementation
- Management Summary
- Financial Summary
In addition to these key seven components, startup business plans should also include the following:
- Industry Report and Analysis: How does your business fit within its specific industry?
- Sales and Marketing Strategies: How will you effectively market and sell your product or services?
- Operations Summary: How will your business be operated?
- Financial Needs and Considerations: How much financing is necessary to start your business?
- Exhibits: What supporting documentation do you have for the business plan?
How you organize your business plan largely depends on the logical development of your startup business and its needs.
Creating a Memorable First Impression
Once you have determined the applicable components of the business plan for your startup,
you’ll want to give some consideration to the presentation of your plan.
As we mentioned, organization is important, and your plan should have some sense of a flow for the ease of your reader.
In addition to organization, factors such as paper and ink quality, binding,
page layout, and high-quality charts and exhibits are equally as important for making the best first impression possible. Beyond these essentials, it may also be beneficial to have a professional editor review your business plan to ensure it reads well and clearly communicates your goals.
Professionally Written Business Plans Online
Are you ready to take the next step in getting your startup off the ground? Creating a professional, organized, and customized business plan is simple with Business Plan City. In conclusion Browse our wide variety of packages to start your project with us today!