Any company, from one plotting world domination to one selling jam at the local farmers’ market, can benefit from writing a business plan. But even if you don’t anticipate needing to seek financing, permits, or legal counsel, the process of writing a business plan will help you focus and will be a valuable reference as your business grows.

business plan

The level of detail will vary accordingly, but all business plans address at least the following questions:

  • What is the product or service?
  • Who are your customers? Describe the demographics. Research their purchasing habits. Know how your product or service meets their needs or wants.
  • What is your marketing strategy? How will you make your customers aware of your product?
  • Who are your competitors? How is your product different and better than that of the competition?
  • What will it take to operate your business—in a physical sense—on a day-to-day basis?
  • Who is the management team? Include short bios of who’s running the show and their qualifications.
  • What is your financial situation? How much do you need to get started? How much do you expect to earn, and when?

Be sure to include an “executive summary.” It should appear at the beginning of the document, but you may want to write it last, since it’s exactly what it’s called—a summary. It should boil down all the information in your business plan to no more than two pages.

One thought on “The Business Plan: Seven Questions You Need to Ask When Starting a Business

  1. TGDarling says:

    Thanks for the business plan advice. I will use it soon!

Leave a Reply

Your email address will not be published. Required fields are marked *

Get a FREE QUOTE for Your Project Now!

Our expert editors and proofreaders are available for you anytime (day or night!) with affordable and personalized professional services.

most annoying word

“Whatever” Is Voted Most Annoying Word Third Year in a Row

Dec 19, 2011 in Writing

The numbers are in at The Marist Institute for Public Opinion—a New York college-based survey center that's been providing poll results for over thirty years—and…

writing portfolio

Creating a Freelance Writing Portfolio: Step 1

Dec 22, 2011 in Writing

If you’re new to freelancing or if you’ve been out of the field for a while, your first task for building a freelance writing portfolio…

How to Write a Compelling Book Review

How to Write a Compelling Book Review

Jun 05, 2019 in Writing

Whether you’re writing for a magazine, your blog, or your social media accounts, it’s good to know how to write a compelling book review. Your book…

Subscribe to Our Blog

Subscribe via RSS