business plan in a day pdf

Simple Business Plan Template (2024)

Updated: May 4, 2024, 4:37pm

Table of Contents

Why business plans are vital, get your free simple business plan template, how to write an effective business plan in 6 steps, frequently asked questions.

While taking many forms and serving many purposes, they all have one thing in common: business plans help you establish your goals and define the means for achieving them. Our simple business plan template covers everything you need to consider when launching a side gig, solo operation or small business. By following this step-by-step process, you might even uncover a few alternate routes to success.

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Whether you’re a first-time solopreneur or a seasoned business owner, the planning process challenges you to examine the costs and tasks involved in bringing a product or service to market. The process can also help you spot new income opportunities and hone in on the most profitable business models.

Though vital, business planning doesn’t have to be a chore. Business plans for lean startups and solopreneurs can simply outline the business concept, sales proposition, target customers and sketch out a plan of action to bring the product or service to market. However, if you’re seeking startup funding or partnership opportunities, you’ll need a write a business plan that details market research, operating costs and revenue forecasting. Whichever startup category you fall into, if you’re at square one, our simple business plan template will point you down the right path.

Copy our free simple business plan template so you can fill in the blanks as we explore each element of your business plan. Need help getting your ideas flowing? You’ll also find several startup scenario examples below.

Download free template as .docx

Whether you need a quick-launch overview or an in-depth plan for investors, any business plan should cover the six key elements outlined in our free template and explained below. The main difference in starting a small business versus an investor-funded business is the market research and operational and financial details needed to support the concept.

1. Your Mission or Vision

Start by declaring a “dream statement” for your business. You can call this your executive summary, vision statement or mission. Whatever the name, the first part of your business plan summarizes your idea by answering five questions. Keep it brief, such as an elevator pitch. You’ll expand these answers in the following sections of the simple business plan template.

• What does your business do? Are you selling products, services, information or a combination?
• Where does this happen? Will you conduct business online, in-store, via mobile means or in a specific location or environment?
• Who does your business benefit? Who is your target market and ideal customer for your concept?
• Why would potential customers care? What would make your ideal customers take notice of your business?
• How do your products and/or services outshine the competition? What would make your ideal customers choose you over a competitor?

These answers come easily if you have a solid concept for your business, but don’t worry if you get stuck. Use the rest of your plan template to brainstorm ideas and tactics. You’ll quickly find these answers and possibly new directions as you explore your ideas and options.

2. Offer and Value Proposition

This is where you detail your offer, such as selling products, providing services or both, and why anyone would care. That’s the value proposition. Specifically, you’ll expand on your answers to the first and fourth bullets from your mission/vision.

As you complete this section, you might find that exploring value propositions uncovers marketable business opportunities that you hadn’t yet considered. So spend some time brainstorming the possibilities in this section.

For example, a cottage baker startup specializing in gluten-free or keto-friendly products might be a value proposition that certain audiences care deeply about. Plus, you could expand on that value proposition by offering wedding and other special-occasion cakes that incorporate gluten-free, keto-friendly and traditional cake elements that all guests can enjoy.

3. Audience and Ideal Customer

Here is where you explore bullet point number three, who your business will benefit. Identifying your ideal customer and exploring a broader audience for your goods or services is essential in defining your sales and marketing strategies, plus it helps fine-tune what you offer.

There are many ways to research potential audiences, but a shortcut is to simply identify a problem that people have that your product or service can solve. If you start from the position of being a problem solver, it’s easy to define your audience and describe the wants and needs of your ideal customer for marketing efforts.

Using the cottage baker startup example, a problem people might have is finding fresh-baked gluten-free or keto-friendly sweets. Examining the wants and needs of these people might reveal a target audience that is health-conscious or possibly dealing with health issues and willing to spend more for hard-to-find items.

However, it’s essential to have a customer base that can support your business. You can be too specialized. For example, our baker startup can attract a broader audience and boost revenue by offering a wider selection of traditional baked goods alongside its gluten-free and keto-focused specialties.

4. Revenue Streams, Sales Channels and Marketing

Thanks to our internet-driven economy, startups have many revenue opportunities and can connect with target audiences through various channels. Revenue streams and sales channels also serve as marketing vehicles, so you can cover all three in this section.

Revenue Streams

Revenue streams are the many ways you can make money in your business. In your plan template, list how you’ll make money upon launch, plus include ideas for future expansion. The income possibilities just might surprise you.

For example, our cottage baker startup might consider these revenue streams:

• Product sales : Online, pop-up shops , wholesale and (future) in-store sales
• Affiliate income : Monetize blog and social media posts with affiliate links
• Advertising income : Reserve website space for advertising
• E-book sales : (future) Publish recipe e-books targeting gluten-free and keto-friendly dessert niches
• Video income : (future) Monetize a YouTube channel featuring how-to videos for the gluten-free and keto-friendly dessert niches
• Webinars and online classes : (future) Monetize coaching-style webinars and online classes covering specialty baking tips and techniques
• Members-only content : (future) Monetize a members-only section of the website for specialty content to complement webinars and online classes
• Franchise : (future) Monetize a specialty cottage bakery concept and sell to franchise entrepreneurs

Sales Channels

Sales channels put your revenue streams into action. This section also answers the “where will this happen” question in the second bullet of your vision.

The product sales channels for our cottage bakery example can include:

• Mobile point-of-sale (POS) : A mobile platform such as Shopify or Square POS for managing in-person sales at local farmers’ markets, fairs and festivals
• E-commerce platform : An online store such as Shopify, Square or WooCommerce for online retail sales and wholesale sales orders
• Social media channels : Facebook, Instagram and Pinterest shoppable posts and pins for online sales via social media channels
• Brick-and-mortar location : For in-store sales , once the business has grown to a point that it can support a physical location

Channels that support other income streams might include:

• Affiliate income : Blog section on the e-commerce website and affiliate partner accounts
• Advertising income : Reserved advertising spaces on the e-commerce website
• E-book sales : Amazon e-book sales via Amazon Kindle Direct Publishing
• Video income : YouTube channel with ad monetization
• Webinars and online classes : Online class and webinar platforms that support member accounts, recordings and playback
• Members-only content : Password-protected website content using membership apps such as MemberPress

Nowadays, the line between marketing and sales channels is blurred. Social media outlets, e-books, websites, blogs and videos serve as both marketing tools and income opportunities. Since most are free and those with advertising options are extremely economical, these are ideal marketing outlets for lean startups.

However, many businesses still find value in traditional advertising such as local radio, television, direct mail, newspapers and magazines. You can include these advertising costs in your simple business plan template to help build a marketing plan and budget.

5. Structure, Suppliers and Operations

This section of your simple business plan template explores how to structure and operate your business. Details include the type of business organization your startup will take, roles and responsibilities, supplier logistics and day-to-day operations. Also, include any certifications or permits needed to launch your enterprise in this section.

Our cottage baker example might use a structure and startup plan such as this:

• Business structure : Sole proprietorship with a “doing business as” (DBA) .
• Permits and certifications : County-issued food handling permit and state cottage food certification for home-based food production. Option, check into certified commercial kitchen rentals.
• Roles and responsibilities : Solopreneur, all roles and responsibilities with the owner.
• Supply chain : Bulk ingredients and food packaging via Sam’s Club, Costco, Amazon Prime with annual membership costs. Uline for shipping supplies; no membership needed.
• Day-to-day operations : Source ingredients and bake three days per week to fulfill local and online orders. Reserve time for specialty sales, wholesale partner orders and market events as needed. Ship online orders on alternating days. Update website and create marketing and affiliate blog posts on non-shipping days.

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6. Financial Forecasts

Your final task is to list forecasted business startup and ongoing costs and profit projections in your simple business plan template. Thanks to free business tools such as Square and free marketing on social media, lean startups can launch with few upfront costs. In many cases, cost of goods, shipping and packaging, business permits and printing for business cards are your only out-of-pocket expenses.

Cost Forecast

Our cottage baker’s forecasted lean startup costs might include:

Gross Profit Projections

This helps you determine the retail prices and sales volume required to keep your business running and, hopefully, earn income for yourself. Use product research to spot target retail prices for your goods, then subtract your cost of goods, such as hourly rate, raw goods and supplier costs. The total amount is your gross profit per item or service.

Here are some examples of projected gross profits for our cottage baker:

Bottom Line

Putting careful thought and detail in a business plan is always beneficial, but don’t get so bogged down in planning that you never hit the start button to launch your business . Also, remember that business plans aren’t set in stone. Markets, audiences and technologies change, and so will your goals and means of achieving them. Think of your business plan as a living document and regularly revisit, expand and restructure it as market opportunities and business growth demand.

Is there a template for a business plan?

You can copy our free business plan template and fill in the blanks or customize it in Google Docs, Microsoft Word or another word processing app. This free business plan template includes the six key elements that any entrepreneur needs to consider when launching a new business.

What does a simple business plan include?

A simple business plan is a one- to two-page overview covering six key elements that any budding entrepreneur needs to consider when launching a startup. These include your vision or mission, product or service offering, target audience, revenue streams and sales channels, structure and operations, and financial forecasts.

How can I create a free business plan template?

Start with our free business plan template that covers the six essential elements of a startup. Once downloaded, you can edit this document in Google Docs or another word processing app and add new sections or subsections to your plan template to meet your specific business plan needs.

What basic items should be included in a business plan?

When writing out a business plan, you want to make sure that you cover everything related to your concept for the business,  an analysis of the industry―including potential customers and an overview of the market for your goods or services―how you plan to execute your vision for the business, how you plan to grow the business if it becomes successful and all financial data around the business, including current cash on hand, potential investors and budget plans for the next few years.

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Krista Fabregas is a seasoned eCommerce and online content pro sharing more than 20 years of hands-on know-how with those looking to launch and grow tech-forward businesses. Her expertise includes eCommerce startups and growth, SMB operations and logistics, website platforms, payment systems, side-gig and affiliate income, and multichannel marketing. Krista holds a bachelor's degree in English from The University of Texas at Austin and held senior positions at NASA, a Fortune 100 company, and several online startups.

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Business Plan In A Day, 4th Edition

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If you need an effective business plan pronto, this is the book for you.

Whether you’re pitching to a potential investor, lender, business partner, or senior management, this book shows you step-by-step how to organize your information, prepare your financials, write your plan, and format it for presentation-quickly and easily.

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“A business plan is something every business needs, but too many fail to create one because it seems intimidating. Rhonda Abrams is on a mission to change that. With this book she shows you how to create a professional business plan that will seem like it took weeks to write instead of 24 hours.” — Anita Campbell, Publisher of Small Business Trends

Key features

• Format makes developing a professional plan easy and fast
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• Over 45 worksheets take you through each planning stage
• Includes a sample business plan
• Completely revised and updated

New in 4th edition

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Verizon Business 2024 Mobile Security Index reveals escalating risks in mobile and IoT security

What you need to know:

80% of responding organizations consider mobile devices critical to their operations, while 95% are actively using IoT devices

96% of critical infrastructure respondents use IoT devices, with % having experienced a significant mobile or IoT device-related security incident

77% of respondents anticipate that AI-assisted attacks, such as deepfakes and SMS phishing, are likely to succeed

NEW YORK – Today, Verizon Business released its 2024 Mobile Security Index (MSI) report outlining the top threats to mobile and IoT device security. This year’s report, in its seventh iteration, goes beyond employee-level mobile usage and extends into the usage of IoT devices and sensors and the security concerns the growth of these devices can present especially as remote work continues to be a trend. This expanded view of mobile security concerns for organizations showcases the evolving threat landscape that CIOs and other IT decision makers must contend with.

As dependency on mobile devices grows, so too do the risks, especially in critical infrastructure sectors where the consequences of security breaches can be catastrophic. The 2024 MSI, which surveyed 600 people responsible for security strategy, policy and management, underscores this point.

Employees are using more mobile and IoT devices, leading to increased cyber risks

The survey finds that 80% of respondents consider mobile devices critical to their operations, while 95% are actively using IoT devices. However, this heavy reliance comes with significant security concerns. In critical infrastructure sectors, where 96% of respondents report using IoT devices, more than half state that they have experienced severe security incidents that led to data loss or system downtime.

“These findings highlight the continued friction that employers face as more and more work is done on personal mobile devices,” said Phil Hochmuth Research VP, enterprise mobility at IDC. “This is why we are seeing more and more employers move from a pure bring-your-own-device model to employer provided devices where CIO’s can have greater governance to protect critical infrastructure from cyber attacks."

Additionally, Hochmuth says, organizations should adopt robust frameworks such as Zero Trust and the National Institute of Standards and Technology’s Cybersecurity Framework (NIST CSF) 2.0, and comply with mandates like the European Union’s NIS2 Directive.

Emerging AI cyberthreats meet new AI defenses

Emerging artificial intelligence (AI) technologies are expected to exacerbate the mobile threat landscape, but it also presents opportunities for defense. A striking 77% of respondents anticipate that AI-assisted attacks, such as deepfakes and SMS phishing, are likely to succeed. At the same time, 88% of critical infrastructure respondents acknowledge the growing importance of AI-assisted cybersecurity solutions.

Accounting for IoT growth in cybersecurity planning

With companies increasingly deploying IoT devices, their digital landscapes are evolving, creating a need for cybersecurity strategies to evolve in kind.

“The Industrial Internet of Things (IIoT) is giving rise to a massive expansion in mobile device technology that goes well beyond phones, tablets and laptops. Enterprise networks now include all sorts of sensors and purpose-built devices that monitor, measure, manage and control commercial tasks and data flow,” said TJ Fox, SVP of Industrial IoT and Automotive, Verizon Business. “That IIoT growth brings with it a proportionate need for more knowledge, awareness and IT solutioning to ensure the security of those increasingly sophisticated networks. The growing importance that IoT plays in our customer’s technology ecosystem underscores why it should be a component in any sound cybersecurity program.”

What business leaders should know

The 2024 MSI helps inform cybersecurity decisions for leaders of businesses of all sizes and in key sectors. As mobile and IoT threats rise, the need for robust security measures has never been greater. In response to these growing threats, 84% of respondents have increased their mobile device security spending over the past year, with 89% of critical infrastructure respondents planning further increases.

This year’s MSI includes contributions from Verizon’s partners including Ivanti, Lookout, Jamf among others.  Help your organization lower cyber risks by deploying comprehensive security protections, continuous employee education and advanced threat detection capabilities. Read the V erizon Business 2024 Mobile Security Index to learn more about suggested best practices your organization can implement.

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Donald Trump headlines Montana rally after plane was diverted but landed safely

Republican presidential nominee former President Donald Trump arrives for a news conference at his Mar-a-Lago estate Thursday, Aug. 8, 2024, in Palm Beach, Fla. (AP Photo/Alex Brandon)

Republican Senate candidate Tim Sheehy shakes hands with Republican presidential nominee former President Donald Trump at a campaign rally in Bozeman, Mont., Friday, Aug. 9, 2024. (AP Photo/Janie Osborne)

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Members of former President Donald Trump’s team disembark from his Boeing 757 after arriving at the Billings Logan International Airport in Billings, Mont., on Friday afternoon, Aug. 9, 2024, enroute to Bozeman. (Larry Mayer/The Billings Gazette via AP)

Republican presidential nominee former President Donald Trump arrives to speak at a campaign rally in Bozeman, Mont., Friday, Aug. 9, 2024. (AP Photo/Rick Bowmer)

Republican presidential nominee former President Donald Trump talks after speaking at a campaign rally in Bozeman, Mont., Friday, Aug. 9, 2024. (AP Photo/Rick Bowmer)

People wait in line before a campaign rally for Republican presidential nominee former President Donald Trump, in Bozeman, Mont., Friday, Aug. 9, 2024. (AP Photo/Rick Bowmer)

Susan Reneau, 72, of Missoula, Mont., arrives before Republican presidential nominee former President Donald Trump speaks at a campaign rally in Bozeman, Mont., Friday, Aug. 9, 2024. (AP Photo/Janie Osborne)

FILE - Sen. Jon Tester, D-Mont., leaves the chamber as the Senate prepares to advance the $95 billion aid package for Ukraine, Israel and Taiwan passed by the House, at the Capitol in Washington, Tuesday, April 23, 2024. (AP Photo/J. Scott Applewhite, File)

Former President Donald Trump’s Boeing 757 arrives at the Billings Logan International Airport in Billings, Mont., on Friday afternoon, Aug. 9, 2024, enroute to Bozeman. (Larry Mayer/The Billings Gazette via AP)

BOZEMAN, Mont. (AP) — Donald Trump traveled to Montana for a Friday night rally intended to drum up support for ousting the state’s Democratic senator, but the former president’s plane first had to divert to an airport on the other side of the Rocky Mountains because of a mechanical issue, according to airport staff.

Trump’s plane was en route to Bozeman, Montana, when it was diverted Friday afternoon to Billings, 142 miles to the east, according to Jenny Mockel, administrative assistant at Billings Logan International Airport. Trump continued to Bozeman via private jet.

FILE - U.S. Senate candidate Tim Sheehy talks about his campaign, Friday, Feb. 9, 2024, in Helena, Mont. Sheehy is seeking the Republican nomination to challenge U.S. Sen. Jon Tester in the November election. (AP Photo/Matthew Brown, File)

The former president came to Montana hoping to remedy some unfinished business from 2018, when he campaigned repeatedly in Big Sky Country in a failed bid to oust incumbent Democratic Sen. Jon Tester. On Friday, Trump ripped into the three-term senator, mocking him for being overweight and for insinuating he sometimes sided with the former president.

“He voted to impeach me — that guy voted to impeach me,” Trump said of Tester, whom he called a “slob” with “the biggest stomach I’ve ever seen.”

Trump also invited to the stage Texas Rep. Ronny Jackson, his former White House physician, to further slam Montana’s senior senator. Tester sank Jackson’s nomination to be Trump’s Veterans Affairs secretary, alleging the doctor drank and used prescription drugs while on duty.

Tester has tried to convince voters he’s aligned with Trump on many issues, mirroring his successful strategy from six years ago. While that worked in a non-presidential election year, it faces a more critical test this fall with Tester’s opponent, former Navy SEAL Tim Sheehy , trying to link the three-term incumbent to Democratic presidential candidate Kamala Harris.

Trump kicked off his rally about 90 minutes behind schedule and immediately began lacing into Tester. “We are going to defeat radical left Democrat Jon Tester, he’s terrible,” Trump said. “We’re going to evict crazy Kamala,” he continued, workshopping a nickname on his new rival.

Harris has benefitted nationally from a burst of enthusiasm among core Democratic constituencies, who coalesced quickly around her after President Joe Biden withdrew from the campaign last month. She’s drawn big crowds in swing states, touring this week with Minnesota Gov. Tim Walz, her choice to be her vice presidential nominee.

Trump’s only rally this week, meanwhile, was in a state he won by 16 percentage points four years ago rather than a November battleground. Facing new pressure in the race from a candidate with surging enthusiasm, Trump on Thursday called questions about his lack of swing state stops “stupid.”

“I don’t have to go there because I’m leading those states,” he said. “I’m going because I want to help senators and congressmen get elected.”

He will add on fundraising stops in Wyoming and Colorado.

Trump could be decisive in Montana’s Senate race

Friday’s rally at Montana State University drew thousands of GOP supporters. Yet the former president’s bigger impact could be simply having his name above Sheehy’s on the ballot in November, said University of Montana political analyst Rob Saldin.

“There is a segment of the electorate that will turn out when Trump is on the ticket,” Saldin said. And that could benefit Sheehy, a Trump supporter and newcomer to politics who made a fortune off an aerial firefighting business.

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Republicans have been on a roll in Montana for more than a decade and now hold every statewide office except for Tester’s.

Tester won each of his previous Senate contests by a narrow margin, casting himself as a plainspoken farmer who builds personal connections with people in Montana and is willing to break with his party on issues that matter to them. He’s also become a prolific fundraiser.

The race has drawn national attention with Democrats clinging to a razor-thin majority in the Senate and defending far more seats than the GOP this year. Tester is considered among the most vulnerable Democratic incumbents.

For him to win, large numbers of Trump supporters would have to vote a split ticket and get behind the Democratic senator.

Trump’s drive to oust Tester traces back to the lawmaker’s work in 2018 as chairman of the Senate Committee on Veterans’ Affairs. Tester revealed past misconduct by Trump’s personal physician, Ronny Jackson, that sank Jackson’s nomination to lead the Veterans Affairs Department.

Then-President Trump took the matter personally and came to Montana four times to campaign for Republican Matt Rosendale, who was then the state auditor. Rosendale lost by 3 percentage points.

Tester has positioned himself apart from national Democrats

Before Trump’s latest visit, Tester has sought to insulate himself against charges that he’s part of the Democratic establishment by rolling out the names of Republicans who support him, including former Montana Gov. Marc Racicot. His campaign highlighted more than 20 pieces of legislation, many dealing with veterans’ issues, that Tester sponsored and Trump signed.

Tester also was the sole Democratic delegate from Montana to withhold a vote backing Harris as the party’s presidential candidate in the wake of Biden’s withdrawal. And when the Democratic National Convention takes place later this month in Chicago, Tester will be back in Montana “farming and meeting face to face with Montanans,” campaign spokesperson Harry Child said.

The last time Tester attended the Democratic National Convention was in 2008. That’s also the last time a Democratic presidential candidate came anywhere near winning Montana, with President Barack Obama losing by just over 2 percentage points.

On Friday, in an interview as he waited for the Trump rally to start, Sheehy dismissed the idea that Tester can survive Montana’s swing to the right. “Jon Tester is by 95%-plus in lockstep with the Biden-Harris agenda,” Sheehy said. “So I don’t think his attempt to message himself as a moderate is going to work.”

A similar situation is developing in Ohio, where three-term Democratic Sen. Sherrod Brown faces a tough race in a state expected to vote for Trump.

Harris visited Ohio when the two were Senate colleagues to raise money for Brown’s 2018 campaign, but Brown has said he has no plans to campaign with her this year. Like Tester, Brown has highlighted legislation he worked on that Trump signed into law.

Friday’s rally takes place in Gallatin County, which Tester has become increasingly reliant on over the course of his political career.

He lost the county in his first Senate race, in 2006, but his support has since grown. A substantial margin of victory in Gallatin in 2018 helped push him ahead of Rosendale.

Republican Don Seifert, a former Gallatin County commissioner, said he voted for Tester that year and plans to do so again this year.

Seifert backed Trump in 2016 and said he has continued to support other Republicans, including Montana Gov. Greg Gianforte and Sen. Steve Daines.

“Montanans tend to vote for the person over the party,” Seifert said. “For the state of Montana, Jon is the one that can do what we need.”

But Sheehy says Tester has lost touch with his home state and fallen into step with Democrats in Washington. The Republican said in a message this week to supporters that Tester was “responsible for the rise of Kamala Harris” because he served as chairman of the Democratic Senatorial Campaign Committee from 2015 to 2017, when she was elected to the Senate from California.

Tester has outraised Sheehy by more than three-to-one in campaign donations reported to the Federal Election Commission. However, outside groups supporting Sheehy have helped the Republican make up much of that gap. Spending in the race is on track to exceed $200 million as advertisements from the two sides saturate Montana’s airwaves.

Associated Press reporters Amy Beth Hanson in Helena, Montana, and Julie Smyth in Columbus, Ohio, contributed to this report.