The Step-by-Step Guide to Creating a Business Plan

Jun 10, 2019

The Step-by-Step Guide to Creating a Business Plan

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If you have big aspirations for your business, you need a plan to make things happen. Success rarely follows spontaneity (especially for entrepreneurs). A detailed plan is usually the best way to make your dreams a reality. Despite this logic, many small business owners flounder when articulating their business goals and their plan of action for achieving them. That’s where a business plan can help.

A business plan sounds daunting, but it’s actually pretty simple. It’s just a description of your business’s future that outlines what you plan to do and how you plan to do it. It can be as short and plain as you’d like or as lengthy and dense as you need.

Putting together a business plan—and regularly updating it—is a great way to periodically step back from the minute details of running your company and visualize the big picture. Getting started is easy if you approach it correctly. If you download a business plan template and start trying to plug in various elements, it’s going to be a long, dull process. The approach in this article is going to try and help you avoid that. First, answer the simple questions below (we’ll compile them into a digestible format later). Start with what you know—then research what you don’t. You’ll be surprised how much you already know about your business, industry, customers, competitors, and more.

About the Author

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Jesse Sumrak

Jesse Sumrak is a Social Media Manager for SendGrid, a leading digital communication platform. He's created and managed content for startups, growth-stage companies, and publicly-traded businesses. Jesse has spent almost a decade writing about small business and entrepreneurship topics, having built and sold his own post-apocalyptic fitness bootstrapped startup. When he's not dabbling in digital marketing, you'll find him ultrarunning in the Rocky Mountains of Colorado. Jesse studied Public Relations at Brigham Young University.

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