book on writing business plan

The 10 Best Books for Writing a Business Plan

• Ivaylo Durmonski
• Reading Lists

There are a lot of insightful thoughts around the concept of planning. In a sense, planning helps you forecast the “weather” of your business. Prepares you for what might happen. And distance you, hopefully, further away from your business going to dust. Most importantly, it allows you to think about the type of tasks you should focus on doing today. Do we know how to plan our business if we’re not business owners , though?

There is nothing wrong with having a regular job.

A lot of people are doing it.

Theoretically, since we’re born. We enter a sophisticated system of government-operated institutions that aim to spit us out after approximately 20 years, ready to help someone else grow his dream business.

You’re thought -sort of – how to plan your career. But you’re never thought how to plan your business.

Regardless of your current situation. The idea of starting a business or learning basic business skills will surely reach your mind at some point.

If you’re still not sure whether or not this is something you can achieve on your own. The business books mentioned below are specifically selected to boost your planning skills.

These books, of course, primarily serve business owners or people that are dreaming of becoming such.

Yet, these reads will definitely expand your horizon even if you don’t plan on starting your own thing right now. They will give you a perspective that will force you to think long term – the best way of thinking.

The 10 Best Books for Writing a Business Plan:

1. the goal by eliyahu goldratt, 2. the one page business plan for the creative entrepreneur by jim horan, 3. mind your business by ilana griffo, 4. business plan template and example by alex genadinik, 5. the best-laid business plans by paul barrow, 6. smart business by ming zeng, 7. measure what matters by john e. doerr, 8. your next five moves by patrick bet-david, 9. business model generation by alexander osterwalder, 10. playing to win by a.g. lafley.

What’s the book about?

The Goal by Eliyahu M. Goldratt is a novel. A fascinating story that describes the life of a business owner who is facing a series of obstacles that, if not handled well, will lead to a catastrophic ending of the company he is running. Mr. Goldratt presents this fictional business environment to teach us an important lesson: That the speed of a convoy is determined by the slowest ship.

Who is it for?

Especially interesting for people who already own businesses but are struggling to grow. For people who can’t adequately articulate what is wrong with what they are doing. Eliyahu Goldratt teaches us that we should observe a business as a series of systems . The faster the systems operate. The faster you’ll grow. To speed up this process, first, you need to identify the weakest link and improve upon the process.

Thought-Provoking Quote:

“Since the strength of the chain is determined by the weakest link, then the first step to improve an organization must be to identify the weakest link.” Eliyahu M. Goldratt

Get the book | Read my summary

In this book, Jim Horan compiles his years of experience as a Fortune 500 executive and business consultant. The pages will help you quickly form a simple business plan based on the most successful companies in the world. The book goes through the 5 stages every organization hoping to make a profit from their products and/or services needs: Vision, Mission, Objectives, Strategies, Action.

This resource is great for people just starting their online or offline venture. Folks who are considering the idea of starting a business but are not quite sure what to do first. The One Page Business Plan For Creative Entrepreneur will show you the exact steps you need to begin your entrepreneurial journey.

Get the book

This long-winded title is here to show you how to start a business from scratch. Ilana Griffo, the author, shares her journey on how she started her side hustle which eventually become a six-figure design studio. A lot of readers describe this title as everything you need to learn about being your own boss. Of course, it all starts with planning.

Great book for anyone dreaming about starting a creative project both online and/or offline. The honest tips and the real-world insights will show you exactly what you need to do. How to start and how to plan your day. The book is the perfect companion that will be your guide in your money-making journey.

Simply put, this title will help you create a professional business plan. The author even boasts that you will do the planning in minutes. Not that you should rush. But the included exercises and the questions Alex Genadinik is asking in the book will help you think critically about your overall structure and the products you will be creating – or refining if you already have existing goods.

The program presented in this title is used by a number of universities to teach students how to plan better. As stated in the description, the book… “will help you identify the most effective business strategies for your situation.” You will start by writing a short 3-sentence business plan which will focus you on what’s truly important.

“Product: What is the product or service? What benefit does it provide and to whom? Can you make it inexpensively and of high quality? What form will it take? Website? App? Brick and mortar business? Marketing: Identify a few of the most effective marketing strategies to promote your business Finances: What are the major sources of revenue? How will this happen profitably? When will you achieve financial sustainability? Do you need to raise money for this? How much?” Alex Genadinik

The first book I read on business planning. Foreword by Richard Branson. This title is dated, but still adequate even though everything is happening online these days. The text will teach you the most important ideas around planning a business. It’s full of case studies about different projects and ideas. The author carefully explains how to present your business plan to others in a way that everyone will get.

This book will explain in a simple way why it’s essential and how you should approach the subject of planning in general. The ideas inside are great for people who are looking to raise money or get approval from seniors for their proposed course of action. Also, if you’re still not convinced that you need planning, this book will surely change your perspective.

Written by Ming Zeng, the former Chief of Staff and strategy adviser to Alibaba Group’s founder Jack Ma. This book presents a framework that will help business owners create a winning future strategy for their companies. The titles reveal some of the revolutionary practices Alibaba developed to rapidly increase efficiency.

We commonly read about what Google is doing or about what other Silicon Valley unicorns are working on. It’s a good idea to take a fresh eastern perspective on how to operate your business. Smart Business will show you how to use cutting-edge technologies to plan and scale your business.

Measure What Matter will teach you how to use Objectives and Key Results (OKRs) as an approach to make decisions in business. The legendary John Doerr has helped some of the best companies in the world to scale and exceed their yearly goals by using this simple method.

With time, every owner begins to collect all kinds of data to measure whether or not his project is succeeding. Sadly, many entrepreneurs end up being fixated on the wrong things. This book will explain what you need to measure and why. Helping you focus on the right things so you can reach explosive growth.

“We must realize—and act on the realization—that if we try to focus on everything, we focus on nothing.” John Doerr

In short, this book is about figuring out what you should do next. Taking a holistic view of your business is always a good way to think about where you plan to go. Occasionally, though, you also need to think and plan about what you should do right now – planning your next few moves. The steps inside this title will help you gain clarity on what you really want, who you want to be, and what to do to get these things.

For those who are not only working on businesses, but in business as well. Patrick Bet-David explains how to not let emotions cloud your judgment. How to switch from a broad view of your business to a narrower view. Essentially, the lessons inside will help you identify your true self. Understand who you want to be and where you want to go, both in your life and in your business.

“Your vision must align with who you want to be. Your choices must align with your vision. Your effort must align with the size of your vision. Your behavior must align with your values and principles.” Patrick Bet-David

Full of visual elements, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers will help you soak up the knowledge and figure out your own business model. This is not your regular book where you’ll be presented with a wall of text. The title is full of infographics and design elements that will prompt you to actively work on defining your business plan and your strategy.

I’d say that this book is for people who are kind of tired of the traditional corporate-heavy jargon that is usually part of business literature. This title combines useful information and presents it in an easily digestible matter that will surely increase your comprehension and your participation when using the material.

“People are moved more by stories than by logic. Ease listeners into the new or unknown by building the logic of your model into a compelling narrative.” Alexander Osterwalder

Written by a long-standing Procter & Gamble Chairman and CEO, this book might seem a bit dry for your taste. Well, it surely is. Rarely anyone below CEO will relate to the mentioned examples. Yet, this read will change the way you think about your business. You’ll become more strategic with your daily decisions. You will become better at identifying what to do and what not to do.

Great companies do not become great by accident. They become great thanks to the strategic choices they make. Even if you don’t end up getting the book, simply consider the title for a moment: “Playing to Win: How Strategy Really Works”. Now, ask yourself, are you playing to win, or are you simply playing? This question alone will disturb your current processes and assist you in finding the best course of action for your business.

“The heart of strategy is the answer to two fundamental questions: where will you play, and how will you win there?” A.G. Lafley

Some Closing Thoughts

Business planning is important for various reasons.

Not only you’ll get clarity on where you’ll want to go. But you will also set a to-do list that will portray how to get to where you want.

More specifically, conducting a business plan will force you to think about what type of business you want to create. Understand your core motivators. Help you find your unique proposition and how you are different from the rest of the businesses out there.

I’ve hand-picked the selection of business books above so you can plan better. Of course, you don’t need to read all of the titles. Usually one or two from the list is enough to get you moving in the right direction.

If you’re looking for more reads on the topic. Make sure to check my must-read business books list. Or, the selection of books on how to start a business (plus my business book summaries ).

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Common terms and phrases, about the author  (2018).

Mike P. McKeever has a B.A. in Economics from Whittier College, a Master's in Economics from the London (England) School of Economics and has done post-graduate work in financial analysis at the USC Business School. Mike has taught classes at numerous community colleges in entrepreneurship and small business management. He has published articles on entrepreneurship for Dow Jones publications, the Sloan Publications Business Journal and numerous newspapers and periodicals.

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Home » Business Plan Tips

20 Best Books on How to Write a Business Plan

Are you wondering which book is best to learn how to write a business plan ? If YES, here are 20 best books on how to write a business plan in 2023.  Starting and running a new business to success can be quite daunting. According to reports, a little more than 1 in 5 businesses tend to crash just within their first year, this is why having a detailed business plan is vital to the success of any business.

Putting together a good business plan from scratch is a challenging undertaking that needs extensive market research, statistical analysis, financial calculations, and much more. You need to understand how to make your business case, describe why there is a demand for your product or service, explain in detail how you intend to build your team, and also explain how you are going to finance your business and remain competitive.

Business plans are quite similar to a GPS; it is possible to travel without a GPS, but it may take you longer and the possibility of getting lost is always present. So instead of having to stop and ask for directions, you can use your business plan as a map to help guide your business.

Nonetheless, here are the best business plan books to take your business dreams from idea to reality.

The One Page Business Plan

According to reports, various corporations, small businesses, and entrepreneurs around the world leverage The One Page Business Plan process to quickly and easily establish highly focused and simple business plans. Instead of beginning with a blank piece of paper, the book and planning tool kit include business plan templates, as well as sample business plans to help get you started.

Have it in mind that the easy-to-fill-in-the-blanks business plan outline makes the process fast and easy. The book is divided into 5 unique sections… Vision, Mission, Objectives, Strategies, and Action Plans providing a useful and complete business plan format that will show you step-by-step how to write a business plan.

Tim Berry is a globally known expert on business planning, and this book is his latest one that will help you get your business up and running. “Hurdle” extensively explains each and every step of a solid business plan in a way that anyone can understand. Also, note that you will see many examples of how to calculate profit and keep track of your cash flow.

Complete with a 53-page workbook, have it in mind you will be constructing your business plan as you read the book rather than trying to understand the fundamentals of business planning and applying them later. After you must have written a workable business plan, you will find yourself turning back to this book for advice on the everyday management and implementation of your business as well.

The Secrets to Writing a Successful Business Plan

If you want a step-by-step guide, then opt for this book. Hal Shelton will expertly take you on a journey of putting together a well arranged plan. Understand what your personal style is, where to go for help and the simple errors people make when putting together a plan.

Note that putting together a marketing plan and establishing a strong management team are also topics covered in this short and simple guide. Hal’s secrets to success will ensure you spend less time putting together a business plan, freeing up time for you to focus on other aspects of your business. In addition, you will learn how to acquire a bank loan and get proven strategies for attracting investors.

The Successful Business Plan

Note that this is a well detailed step-by-step guide for anyone eager to start or grow a business, and has been used over the years by close to two million entrepreneurs. It comes with expert help, worksheets to jumpstart the process, a sample business plan, tips on attracting funders, winning tips for competitions, secrets to successful crowdfunding, building a global business, and much more.

Well recognized in over 1000 business schools globally and appreciated by entrepreneurs; this guide touches every aspect of a successful business plan, from business strategy, winning over investors or lenders, and much more.

Hit The Deck

Have it in mind that this book shows entrepreneurs the perfect way to create business plans, leveraging best practices used at top business schools, and with leading angel and venture capital investors. Also note that the book provides step-by-step instructions on how to think through new business ideas and prepare concise, compelling business plan presentations .

Owning to its comprehensive content, founders can plan faster, pitch more effectively, and modify their plans more easily as they get feedback from advisors and investors. Hit the Deck includes interviews with sophisticated investors, like Ted Schlein at Kleiner Perkins, and with successful entrepreneurs, like Tommy Hilfiger.

Writing a Convincing Business Plan

First and foremost, this book was written by the company that has aided generations of students to prepare for standardized tests. Note that it approaches the challenge of putting together a business plan in the same straightforward, system-minded way.

Have it in mind that this book is no-nonsense: you will have to analyze your business structure, your goals, and your forecasts, and no amount of mantras will help you do so like good old-fashioned hard work. According to reviews, this is a thought-provoking book that ensures you take a closer look at different aspects of your business with plenty of questions to ask yourself. It also guides you in finding supporting data that justifies and promotes your business.

How to Write a Business Plan

Regardless of what your intentions are, be it starting or selling your own business, business plans are a vital and pertinent part of the business cycle. How to Write a Business Plan offers you the expert guidance you require to make an impact with your plan, including advice on researching competitors, presenting your management skills, and successfully communicating your strategic vision.

Be it is to source funds, sell a business or develop a particular project, this is your one-stop guide to putting together the most professional and convincing business plan for a new venture. How to Write a Business Plan offers priceless help with sales, cash, and profit forecasts and is supported by the inclusion of full-length plans available to download online. This new edition has been enhanced to cover digital developments like crowdfunding, online retailing, and digital marketing.

The Founder’s Dilemmas

While putting together your business plan, you will also have to bother about who will run your organization coupled with all of the other information contained inside. While the “who” of your organization can be less exciting than the “what” and “how,” staffing and leadership decisions are definitely not to be ignored.

Notably, when you are considering whether to start a business on your own, with friends or relatives, or with trusted colleagues, it is pertinent to consider extensively the decision — and this book helps you do so by analyzing why these decisions matter so much. Noam Wasserman, leveraging a decade of research, educates you on how to shape the leadership section of your business plan in order to make your company as successful as earthly possible.

Burn the Business Plan

This book dissects the myth of the cool, tech-savvy twenty-something entrepreneur with nothing to lose and venture capital to burn. Notably, a good number of people who start businesses are juggling careers and mortgages. Note that the average entrepreneur is actually thirty-nine years old, and the success rate of entrepreneurs over forty is five times higher than that of those under age thirty.

Also, note that entrepreneurs who come out of the corporate world often have discovered a need for a product or service and have priceless contacts to help them get started. Well stocked with stories of successful entrepreneurs who drew on real-life experience rather than academic coursework, Burn the Business Plan is the guide to starting and running a business that will actually work for any willing soul.

The Art of the Start 2.0

With this wonderful book, you can learn about perfecting your pitch, get real-world advice on bootstrapping, and obtain advice on building your team. The author Guy Kawasaki is behind the wildly successful online design service Canva. He wrote this guide extolled as the “essential guide for anyone starting anything,” to help young entrepreneurs separate the fluff from the foundation and build your business plan into one that really works for you.

Coupled with the old standards, this book seems to extensively discuss crowdfunding, social media, and other digital revolutions as well. With the knowledge imbibed in this book, you will be ahead of the competition — and much calmer, too, because you will know how to position your product with stories that create a personal connection with potential customers.

Pulling Together

This book come well recommended for the leader of any team. Pulling Together is the unbelievable list of advice for achieving greatness on a team. From “Respecting Diversity” to “Building Trust,” the rules for teamwork contained in this book will inspire camaraderie and demand excellence.

Also note that what makes this book astonishing is its depth of content coupled with its gift-sized packaging. Every rule for “pulling together” is complemented with photographs, quotations, thought-provoking questions, and smart insight. Notably, it is the perfect size to be given as a gift to each person on the team and could be given as a gift to coaches, athletes, business leaders, or co-workers.

Business Model Generation

Note that this is a handbook for visionaries, game-changers, and challengers eager to defy outmoded business models and create tomorrow’s ventures. If your business needs to adapt to harsh new realities, but you lack the strategy that will get you out in front of your competitors, you need Business Model Generation.

Co-created by 470 “Business Model Canvas” practitioners from 45 countries, the book comes with a wonderful, highly visual, 4-color design that leverages unique strategic ideas and tools and makes them easy to use in your organization. You will learn how to systematically understand, design, and implement a game-changing business model–or analyze and renovate an old one. In addition, you’ll have a much deeper understanding of your customers, distribution channels, partners, revenue streams, costs, and your core value proposition.

Starting a Business Quick Start Guide

In his comprehensive Starting a Business Quick Start Guide, Ken Colwell explicitly noted the core fundamentals that all new entrepreneurs have to understand to get started, find success, and live the life of their dreams. Business and entrepreneurship students, small business owners, managers, and soon-to-be entrepreneurs will indeed find enormous value within the pages of the Starting a Business Quick Start Guide.

Colwell’s clear voice, extensive experience, and easy-to-understand presentation all come together to make this book a must-have resource in the library of every budding entrepreneur!

The Lean Startup

According to reviews, the Lean Startup approach helps to build companies that are both more capital efficient and that use human creativity more effectively. Inspired by lessons from lean manufacturing, it depends on “validated learning,” steady scientific experimentation, as well as a number of counter-intuitive practices that reduce product development cycles, measure actual progress without using vanity metrics, and learn what customers really want.

Also note that it enables a company to shift directions with eagerness, changing plans inch by inch, minute by minute. So, instead of wasting time establishing elaborate business plans, The Lean Startup provides entrepreneurs—in companies of all sizes—an avenue to test their vision continuously, to adapt, and adjust before it is too late.

The Complete Book of Business Plans

Inside this staple of the business world, you’ll find plenty of business plan templates you can leverage to boost your business and attract investors quickly. Also note that you will find advice on ensuring and sustaining motivation, how to make sure you are bringing the best possible partners onto your project, and how to push your business forward for years to come.

Have it in mind that a good part of the book is set up like a workbook and asks highly detailed questions that are expected to be answered before writing can start. These questions will also force the would-be entrepreneur to analyze and address a series of questions that many first-timers would forget or not even know to ask or consider.

The 1-Page Marketing Plan

To establish and run a successful business, you have to stop doing random acts of marketing and start leveraging a well articulated plan for rapid business growth . Ideally, creating a marketing plan has been a daunting and time-consuming process, which is why it rarely gets done.

In The 1-Page Marketing Plan, serial entrepreneur and rebellious marketer Allan Dib explicitly states marketing implementation breakthrough that makes putting together a marketing plan simple and quick. It is more or less a single page, divided up into nine squares. Note that you’ll be able to map out your own sophisticated marketing plan and go from zero to marketing hero.

Mind Your Business

Mind Your Business remains one of the top books that teaches you everything you need to know about how to create a successful business from scratch. Right from building your brand to designing products to identifying your legal and tax needs, note that this well detailed guide will take you through every step of the process and help you create a unique and well noted roadmap for your business.

Mind Your Business is for aspiring entrepreneurs who are savvy, ambitious, creative, and eager to establish a business and life they love. Author Ilana Griffo shares the formula that turned her creative hobby into a six-figure design studio.

Creating a Business Plan for Dummies

Irrespective of what you intend to do, be it starting a new business or trading for a while, Creating a Business Plan For Dummies puts into consideration everything you need to know. In this book, you will find out whether your business idea is likely to work, how to identify your strategic advantage, and what you can do to gain an advantage over the competition.

Also, note that you will discover why a business plan doesn’t have to be a thirty-page document that takes centuries to put together but can be a simple process that you do in stages as you work through your business concept. Also know how to make an elevator pitch, create a start-up budget, and establish realistic sales projections. Also discover how to predict and manage expenses, and assemble a financial forecast that enables you to calculate your break-even.

Writing Winning Business Plans

Clearly written and featuring real-life illustrative stories, Writing Winning Business Plans extensively discusses all the major elements of a successful plan. Topics include focusing on your business vision, analyzing your financials, and knowing your competition. In addition, you will learn how to really use your business plan as a tool and how to attract funding for your new or existing businesses.

Note that as business plan competitions become more intense around the world, Writing Winning Business Plans also explains how to enter and how to win these ever lucrative contests. Furthermore, how to quickly interest a potential investor, also known as the elevator pitch, is well discussed. And, as opportunities arise around the world, how to present your plan in various countries is explained extensively.

Documentation: Anatomy of a Business Plan

According to experts, this book will help you create a well articulated business plan that is sure to lead you towards success. If you require some additional hand-holding to get started, this book is for you: You will understand how best to choose an organizational structure that is ideal for your business, learn how to market that business well using means and strategies that helps your business grow, and learn how to organize your business plan into the traditional sections.

Also, note that the marketing strategies in this book are priceless and you will be happy to see financial documentation reviewed deeply. Howbeit, it is not the most glamorous part of your business, but it is vital to your business success. This book will also walk you through five sample business plans and also provides helpful hints to accompany the worksheets provided for drafting your own project.

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Book description

How to Write a Business Plan presents the latest thinking on effective business planning, while putting all the information and tools students need right at their fingertips. From diagnosing and measuring customer satisfaction to finding innovative ways to raise capital, the fifth edition of this best-selling course explains how to organize and implement the planning process from beginning to end and position a company for success.

Students will learn how to: • Evaluate a business’s capabilities, strengths, and weaknesses • Pinpoint the crucial elements of the competitive environment, including market, economic, and technological factors • Establish realistic goals, objectives, and strategies in areas including marketing, organization and management, production/services, R&D, finance, and information technology • Develop both operating and financial plans • Identify and integrate customer requirements into the business plan • Write the actual planning document and use it to steer a company to greater productivity and profits • Obtain the capital needed to grow a business

Completely revised and updated, the course now includes sections on developing Information Technology goals and strategies, a new chapter preparing an IT Plan, and a glossary of terms. It also covers the role of the balanced scorecard in developing a business plan and looks at new ways to raise capital such as crowdfunding and search funds. Sample outlines, exercises, and review questions reinforce key concepts and allow students to strengthen their skills. Startups and established businesses alike all need a plan—this course makes creating one easy.

Table of contents

• About This Course
• How to Take This Course
• The Business Plan Is the Final Step of Planning
• The Business Plan and the Development Process
• Executive Summary
• Sales and Revenue Plan
• Production Plan
• Research and Development Plan
• Organization and Management Plan
• Financial Plan
• Information Technology Plan
• Contingency Plans
• Review Questions
• What Is Business Planning?
• Internal Uses of a Business Plan
• External Uses of a Business Plan
• Market Strategy
• Production or Service Strategy
• Research and Development Strategy
• Organization and Management Strategy
• Financial Strategy
• Information Technology Strategy
• Step 1: Organizing the Planning Process
• Step 2: Diagnosing the Situation
• Step 3: Setting Goals
• Step 4: Developing Operating Plans
• Step 5: Developing a Financial Plan
• Step 6: Writing the Business Plan Document
• Evaluating Market Strategy
• Evaluating Production or Service Strategy
• Evaluating Research and Development Strategy
• Evaluating Organization and Management Strategy
• Evaluating Financial Strategy
• Evaluating Information Technology Strategy
• The Balanced Scorecard and the Business Plan
• How to Use the Results of an Internal Diagnosis
• Structure of the Company’s Operating Environment Focus on the Customer
• Customer Value Model for the Family Doctor
• Identifying the Company’s Customers
• Four Key Questions for Customer Research
• Customer Versus Market Segmentation
• Measuring Customer Satisfaction
• Ten Key Steps in Customer Satisfaction Measurement
• Analysis of Market Developments
• Analysis of Technological Developments
• Analysis of Economic Developments
• Analysis of Major Societal Forces and Trends
• Legislative and Regulatory Actions
• How to Use the Results of an External Diagnosis
• Definition of a Mission
• The Purpose of Goal Setting
• The Nature of Goals, Objectives, and Strategies
• How Goals Are Established
• Setting Market Goals and Strategies
• Setting Production or Service Goals and Strategies
• Setting Research and Development Goals and Strategies
• Setting Organization and Management Goals and Strategies
• Setting Financial Goals and Strategies
• Setting Information Technology Goals and Strategies
• How Goals, Objectives, and Strategies Should Be Used
• Developing Quarterly Sales and Revenue Objectives
• Developing Estimates of Marketing and Sales Expenses
• Pulling Revenue and Expense Objectives Together
• Linking Sales and Revenue Objectives to the Research and Development Plan
• Finalizing the Sales and Revenue Plan
• Production Scheduling
• Raw Materials Planning
• Direct Labor Planning
• Production Overhead Planning
• Computing the Cost of Goods Sold
• Finalizing the Production Plan
• Factors Involved in the Structure
• Form of the Structure
• Implementing the Structure
• Developing Effective Management and Information Systems
• Developing an Effective Workforce
• Estimating Management and Administrative Expenses
• Linking the Financial Plan to Financial Goals and Strategies
• Preparing an Income Statement
• Planning Working Capital
• Planning Long-Term Assets
• Planning a Financing Structure
• Finalizing a Balance Sheet
• Preparing a Statement of Cash Flows
• Finalizing a Financial Plan
• IT Situation Analysis
• Goals and IT Initiatives
• Timelines and IT Initiatives
• Tracking Emerging Technologies
• Goal Setting and IT Initiatives
• The IT Plan and Organizational Learning
• Information Technology Budget
• Information Technology Performance Measures
• Alternatives for Raising Capital
• Venture Capitalists
• Joint Ventures
• Search Funds
• Crowdfunding
• Public Securities Markets
• Commercial Banks
• Asset-Based Lenders
• Leasing Companies
• Government-Assisted Programs
• Industrial Revenue Bonds
• People Involved
• Viability of the Concept
• Marketing Skills and Experience
• History of Success
• Personal Commitment of Resources
• Reasonableness of Financial Projections
• The Bankers’ Perspective
• Age of the Business
• Personal Goals
• Packaging the Written Plan
• Submitting the Plan
• Closing the Transaction
• Bibliography
• Online Resources

Product information

• Title: How to Write a Business Plan
• Author(s): Michael P. Griffen
• Release date: September 2015
• Publisher(s): AMA Self-Study
• ISBN: 9780761215516

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How To Write A Business Plan (2024 Guide)

Updated: Apr 17, 2024, 11:59am

Table of Contents

Brainstorm an executive summary, create a company description, brainstorm your business goals, describe your services or products, conduct market research, create financial plans, bottom line, frequently asked questions.

Every business starts with a vision, which is distilled and communicated through a business plan. In addition to your high-level hopes and dreams, a strong business plan outlines short-term and long-term goals, budget and whatever else you might need to get started. In this guide, we’ll walk you through how to write a business plan that you can stick to and help guide your operations as you get started.

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Drafting the Summary

An executive summary is an extremely important first step in your business. You have to be able to put the basic facts of your business in an elevator pitch-style sentence to grab investors’ attention and keep their interest. This should communicate your business’s name, what the products or services you’re selling are and what marketplace you’re entering.

Ask for Help

When drafting the executive summary, you should have a few different options. Enlist a few thought partners to review your executive summary possibilities to determine which one is best.

After you have the executive summary in place, you can work on the company description, which contains more specific information. In the description, you’ll need to include your business’s registered name , your business address and any key employees involved in the business. 

The business description should also include the structure of your business, such as sole proprietorship , limited liability company (LLC) , partnership or corporation. This is the time to specify how much of an ownership stake everyone has in the company. Finally, include a section that outlines the history of the company and how it has evolved over time.

Wherever you are on the business journey, you return to your goals and assess where you are in meeting your in-progress targets and setting new goals to work toward.

Numbers-based Goals

Goals can cover a variety of sections of your business. Financial and profit goals are a given for when you’re establishing your business, but there are other goals to take into account as well with regard to brand awareness and growth. For example, you might want to hit a certain number of followers across social channels or raise your engagement rates.

Another goal could be to attract new investors or find grants if you’re a nonprofit business. If you’re looking to grow, you’ll want to set revenue targets to make that happen as well.

Intangible Goals

Goals unrelated to traceable numbers are important as well. These can include seeing your business’s advertisement reach the general public or receiving a terrific client review. These goals are important for the direction you take your business and the direction you want it to go in the future.

The business plan should have a section that explains the services or products that you’re offering. This is the part where you can also describe how they fit in the current market or are providing something necessary or entirely new. If you have any patents or trademarks, this is where you can include those too.

If you have any visual aids, they should be included here as well. This would also be a good place to include pricing strategy and explain your materials.

This is the part of the business plan where you can explain your expertise and different approach in greater depth. Show how what you’re offering is vital to the market and fills an important gap.

You can also situate your business in your industry and compare it to other ones and how you have a competitive advantage in the marketplace.

Other than financial goals, you want to have a budget and set your planned weekly, monthly and annual spending. There are several different costs to consider, such as operational costs.

Business Operations Costs

Rent for your business is the first big cost to factor into your budget. If your business is remote, the cost that replaces rent will be the software that maintains your virtual operations.

Marketing and sales costs should be next on your list. Devoting money to making sure people know about your business is as important as making sure it functions.

Other Costs

Although you can’t anticipate disasters, there are likely to be unanticipated costs that come up at some point in your business’s existence. It’s important to factor these possible costs into your financial plans so you’re not caught totally unaware.

Business plans are important for businesses of all sizes so that you can define where your business is and where you want it to go. Growing your business requires a vision, and giving yourself a roadmap in the form of a business plan will set you up for success.

How do I write a simple business plan?

When you’re working on a business plan, make sure you have as much information as possible so that you can simplify it to the most relevant information. A simple business plan still needs all of the parts included in this article, but you can be very clear and direct.

What are some common mistakes in a business plan?

The most common mistakes in a business plan are common writing issues like grammar errors or misspellings. It’s important to be clear in your sentence structure and proofread your business plan before sending it to any investors or partners.

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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Julia is a writer in New York and started covering tech and business during the pandemic. She also covers books and the publishing industry.

Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small Business where she served as an editor and strategist covering small business marketing content. She is a former Google Tech Entrepreneur and she holds an MSc in International Marketing from Edinburgh Napier University. Additionally, she is a Columnist at Inc. Magazine.

19 Best Business Plan Books of All Time

Our goal : Find the best Business Plan books according to the internet (not just one random person's opinion).

• Type "best business plan books" into our search engine and study the top 5+ pages.
• Add only the books mentioned 2+ times.
• Rank the results neatly for you here! 😊 (It was a lot of work. But hey! That's why we're here, right?)

(Updated 2024)

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Last Updated: Monday 1 Jan, 2024

• Best Business Plan Books

The One Page Business Plan for the Creative Entrepreneur

The fastest, easiest way to write a business plan.

The Art of the Start 2.0

The time-tested, battle-hardened guide for anyone starting anything.

Guy Kawasaki

Successful Business Plan

Secrets & strategies.

Rhonda Abrams

The Secrets to Writing a Successful Business Plan

A pro shares a step-by-step guide to creating a plan that gets results.

Hal Shelton

The Lean Startup

How today's entrepreneurs use continuous innovation to create radically successful businesses.

The Founder's Dilemmas

Anticipating and avoiding the pitfalls that can sink a startup.

Noam Wasserman

How to Write a Business Plan

Mike P. McKeever

The Complete Book of Business Plans

Simple steps to writing powerful business plans.

Joseph A Covello

The 1-Page Marketing Plan

Get new customers, make more money, and stand out from the crowd.

Business Model Generation

A handbook for visionaries, game changers, and challengers.

Alexander Osterwalder

Starting a Business QuickStart Guide

The simplified beginner’s guide to launching a successful small business, turning your vision into reality, and achieving your entrepreneurial dream.

Ken Colwell

Mind Your Business

A workbook to grow your creative passion into a full-time gig.

Ilana Griffo

Writing Winning Business Plans

How to prepare a business plan that investors will want to read and invest in.

Garrett Sutton

Burn the Business Plan

What great entrepreneurs really do.

Carl J. Schramm

Anatomy of a Business Plan

The step-by-step guide to building a business and securing your company's future.

Linda Pinson

The Book on Business Planning

Writing a Convincing Business Plan

Arthur R. DeThomas Ph.D.

Hit the Deck

Create a business plan in half the time, with twice the impact.

David Ronick

Creating a Business Plan For Dummies

Veechi Curtis

• 12 Books You Should Read Before Starting a Business www.businessinsider.com
• Business Plan Books www.mymoneybooks.com
• The 9 Best Business Plan Books www.thebalancesmb.com
• 20 Best Books on The Business Plan - Bigger Investing www.biggerinvesting.com
• 20 Best Books on How to Write a Business Plan in 2023 www.profitableventure.com

How was this Business Plan books list created?

We searched for 'best Business Plan books', found the top 5 articles, took every book mentioned in 2+ articles, and averaged their rankings.

How many Business Plan books are in this list?

There are 19 books in this list.

Why did you create this Business Plan books list?

We wanted to gather the most accurate list of Business Plan books on the internet.

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How to Write a Business Plan: Step-by-Step Guide + Examples

Noah Parsons

24 min. read

Updated May 7, 2024

Writing a business plan doesn’t have to be complicated. 

In this step-by-step guide, you’ll learn how to write a business plan that’s detailed enough to impress bankers and potential investors, while giving you the tools to start, run, and grow a successful business.

• The basics of business planning

If you’re reading this guide, then you already know why you need a business plan . 

You understand that planning helps you: 

• Raise money
• Grow strategically
• Keep your business on the right track 

As you start to write your plan, it’s useful to zoom out and remember what a business plan is .

At its core, a business plan is an overview of the products and services you sell, and the customers that you sell to. It explains your business strategy: how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

Most business plans also include financial forecasts for the future. These set sales goals, budget for expenses, and predict profits and cash flow. 

A good business plan is much more than just a document that you write once and forget about. It’s also a guide that helps you outline and achieve your goals. 

After completing your plan, you can use it as a management tool to track your progress toward your goals. Updating and adjusting your forecasts and budgets as you go is one of the most important steps you can take to run a healthier, smarter business. 

We’ll dive into how to use your plan later in this article.

There are many different types of plans , but we’ll go over the most common type here, which includes everything you need for an investor-ready plan. However, if you’re just starting out and are looking for something simpler—I recommend starting with a one-page business plan . It’s faster and easier to create. 

It’s also the perfect place to start if you’re just figuring out your idea, or need a simple strategic plan to use inside your business.

Dig deeper : How to write a one-page business plan

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• What to include in your business plan

Executive summary

The executive summary is an overview of your business and your plans. It comes first in your plan and is ideally just one to two pages. Most people write it last because it’s a summary of the complete business plan.

Ideally, the executive summary can act as a stand-alone document that covers the highlights of your detailed plan. 

In fact, it’s common for investors to ask only for the executive summary when evaluating your business. If they like what they see in the executive summary, they’ll often follow up with a request for a complete plan, a pitch presentation , or more in-depth financial forecasts .

Your executive summary should include:

• A summary of the problem you are solving
• A description of your product or service
• An overview of your target market
• A brief description of your team
• A summary of your financials
• Your funding requirements (if you are raising money)

Dig Deeper: How to write an effective executive summary

Products and services description

This is where you describe exactly what you’re selling, and how it solves a problem for your target market. The best way to organize this part of your plan is to start by describing the problem that exists for your customers. After that, you can describe how you plan to solve that problem with your product or service. 

This is usually called a problem and solution statement .

To truly showcase the value of your products and services, you need to craft a compelling narrative around your offerings. How will your product or service transform your customers’ lives or jobs? A strong narrative will draw in your readers.

This is also the part of the business plan to discuss any competitive advantages you may have, like specific intellectual property or patents that protect your product. If you have any initial sales, contracts, or other evidence that your product or service is likely to sell, include that information as well. It will show that your idea has traction , which can help convince readers that your plan has a high chance of success.

Market analysis

Your target market is a description of the type of people that you plan to sell to. You might even have multiple target markets, depending on your business. 

A market analysis is the part of your plan where you bring together all of the information you know about your target market. Basically, it’s a thorough description of who your customers are and why they need what you’re selling. You’ll also include information about the growth of your market and your industry .

Try to be as specific as possible when you describe your market. 

Include information such as age, income level, and location—these are what’s called “demographics.” If you can, also describe your market’s interests and habits as they relate to your business—these are “psychographics.” 

Related: Target market examples

Essentially, you want to include any knowledge you have about your customers that is relevant to how your product or service is right for them. With a solid target market, it will be easier to create a sales and marketing plan that will reach your customers. That’s because you know who they are, what they like to do, and the best ways to reach them.

Next, provide any additional information you have about your market. 

What is the size of your market ? Is the market growing or shrinking? Ideally, you’ll want to demonstrate that your market is growing over time, and also explain how your business is positioned to take advantage of any expected changes in your industry.

Dig Deeper: Learn how to write a market analysis

Competitive analysis

Part of defining your business opportunity is determining what your competitive advantage is. To do this effectively, you need to know as much about your competitors as your target customers. 

Every business has some form of competition. If you don’t think you have competitors, then explore what alternatives there are in the market for your product or service. 

For example: In the early years of cars, their main competition was horses. For social media, the early competition was reading books, watching TV, and talking on the phone.

A good competitive analysis fully lays out the competitive landscape and then explains how your business is different. Maybe your products are better made, or cheaper, or your customer service is superior. Maybe your competitive advantage is your location – a wide variety of factors can ultimately give you an advantage.

Dig Deeper: How to write a competitive analysis for your business plan

Marketing and sales plan

The marketing and sales plan covers how you will position your product or service in the market, the marketing channels and messaging you will use, and your sales tactics. 

The best place to start with a marketing plan is with a positioning statement . 

This explains how your business fits into the overall market, and how you will explain the advantages of your product or service to customers. You’ll use the information from your competitive analysis to help you with your positioning. 

For example: You might position your company as the premium, most expensive but the highest quality option in the market. Or your positioning might focus on being locally owned and that shoppers support the local economy by buying your products.

Once you understand your positioning, you’ll bring this together with the information about your target market to create your marketing strategy . 

This is how you plan to communicate your message to potential customers. Depending on who your customers are and how they purchase products like yours, you might use many different strategies, from social media advertising to creating a podcast. Your marketing plan is all about how your customers discover who you are and why they should consider your products and services. 

While your marketing plan is about reaching your customers—your sales plan will describe the actual sales process once a customer has decided that they’re interested in what you have to offer. 

If your business requires salespeople and a long sales process, describe that in this section. If your customers can “self-serve” and just make purchases quickly on your website, describe that process. 

A good sales plan picks up where your marketing plan leaves off. The marketing plan brings customers in the door and the sales plan is how you close the deal.

Together, these specific plans paint a picture of how you will connect with your target audience, and how you will turn them into paying customers.

Dig deeper: What to include in your sales and marketing plan

Business operations

The operations section describes the necessary requirements for your business to run smoothly. It’s where you talk about how your business works and what day-to-day operations look like. 

Depending on how your business is structured, your operations plan may include elements of the business like:

• Supply chain management
• Manufacturing processes
• Equipment and technology
• Distribution

Some businesses distribute their products and reach their customers through large retailers like Amazon.com, Walmart, Target, and grocery store chains. 

These businesses should review how this part of their business works. The plan should discuss the logistics and costs of getting products onto store shelves and any potential hurdles the business may have to overcome.

If your business is much simpler than this, that’s OK. This section of your business plan can be either extremely short or more detailed, depending on the type of business you are building.

For businesses selling services, such as physical therapy or online software, you can use this section to describe the technology you’ll leverage, what goes into your service, and who you will partner with to deliver your services.

Dig Deeper: Learn how to write the operations chapter of your plan

Key milestones and metrics

Although it’s not required to complete your business plan, mapping out key business milestones and the metrics can be incredibly useful for measuring your success.

Good milestones clearly lay out the parameters of the task and set expectations for their execution. You’ll want to include:

• A description of each task
• The proposed due date
• Who is responsible for each task

If you have a budget, you can include projected costs to hit each milestone. You don’t need extensive project planning in this section—just list key milestones you want to hit and when you plan to hit them. This is your overall business roadmap. 

Possible milestones might be:

• Website launch date
• Store or office opening date
• First significant sales
• Break even date
• Business licenses and approvals

You should also discuss the key numbers you will track to determine your success. Some common metrics worth tracking include:

• Conversion rates
• Customer acquisition costs
• Profit per customer
• Repeat purchases

It’s perfectly fine to start with just a few metrics and grow the number you are tracking over time. You also may find that some metrics simply aren’t relevant to your business and can narrow down what you’re tracking.

Dig Deeper: How to use milestones in your business plan

Organization and management team

Investors don’t just look for great ideas—they want to find great teams. Use this chapter to describe your current team and who you need to hire . You should also provide a quick overview of your location and history if you’re already up and running.

Briefly highlight the relevant experiences of each key team member in the company. It’s important to make the case for why yours is the right team to turn an idea into a reality. 

Do they have the right industry experience and background? Have members of the team had entrepreneurial successes before? 

If you still need to hire key team members, that’s OK. Just note those gaps in this section.

Your company overview should also include a summary of your company’s current business structure . The most common business structures include:

• Sole proprietor
• Partnership

Be sure to provide an overview of how the business is owned as well. Does each business partner own an equal portion of the business? How is ownership divided? 

Potential lenders and investors will want to know the structure of the business before they will consider a loan or investment.

Dig Deeper: How to write about your company structure and team

Financial plan

Last, but certainly not least, is your financial plan chapter. 

Entrepreneurs often find this section the most daunting. But, business financials for most startups are less complicated than you think, and a business degree is certainly not required to build a solid financial forecast. 

A typical financial forecast in a business plan includes the following:

• Sales forecast : An estimate of the sales expected over a given period. You’ll break down your forecast into the key revenue streams that you expect to have.
• Expense budget : Your planned spending such as personnel costs , marketing expenses, and taxes.
• Profit & Loss : Brings together your sales and expenses and helps you calculate planned profits.
• Cash Flow : Shows how cash moves into and out of your business. It can predict how much cash you’ll have on hand at any given point in the future.
• Balance Sheet : A list of the assets, liabilities, and equity in your company. In short, it provides an overview of the financial health of your business. 

A strong business plan will include a description of assumptions about the future, and potential risks that could impact the financial plan. Including those will be especially important if you’re writing a business plan to pursue a loan or other investment.

Dig Deeper: How to create financial forecasts and budgets

This is the place for additional data, charts, or other information that supports your plan.

Including an appendix can significantly enhance the credibility of your plan by showing readers that you’ve thoroughly considered the details of your business idea, and are backing your ideas up with solid data.

Just remember that the information in the appendix is meant to be supplementary. Your business plan should stand on its own, even if the reader skips this section.

Dig Deeper : What to include in your business plan appendix

Optional: Business plan cover page

Adding a business plan cover page can make your plan, and by extension your business, seem more professional in the eyes of potential investors, lenders, and partners. It serves as the introduction to your document and provides necessary contact information for stakeholders to reference.

Your cover page should be simple and include:

• Company logo
• Business name
• Value proposition (optional)
• Business plan title
• Completion and/or update date
• Address and contact information
• Confidentiality statement

Just remember, the cover page is optional. If you decide to include it, keep it very simple and only spend a short amount of time putting it together.

Dig Deeper: How to create a business plan cover page

How to use AI to help write your business plan

Generative AI tools such as ChatGPT can speed up the business plan writing process and help you think through concepts like market segmentation and competition. These tools are especially useful for taking ideas that you provide and converting them into polished text for your business plan.

The best way to use AI for your business plan is to leverage it as a collaborator , not a replacement for human creative thinking and ingenuity. 

AI can come up with lots of ideas and act as a brainstorming partner. It’s up to you to filter through those ideas and figure out which ones are realistic enough to resonate with your customers. 

There are pros and cons of using AI to help with your business plan . So, spend some time understanding how it can be most helpful before just outsourcing the job to AI.

Learn more: 10 AI prompts you need to write a business plan

• Writing tips and strategies

To help streamline the business plan writing process, here are a few tips and key questions to answer to make sure you get the most out of your plan and avoid common mistakes .  

Determine why you are writing a business plan

Knowing why you are writing a business plan will determine your approach to your planning project. 

For example: If you are writing a business plan for yourself, or just to use inside your own business , you can probably skip the section about your team and organizational structure. 

If you’re raising money, you’ll want to spend more time explaining why you’re looking to raise the funds and exactly how you will use them.

Regardless of how you intend to use your business plan , think about why you are writing and what you’re trying to get out of the process before you begin.

Keep things concise

Probably the most important tip is to keep your business plan short and simple. There are no prizes for long business plans . The longer your plan is, the less likely people are to read it. 

So focus on trimming things down to the essentials your readers need to know. Skip the extended, wordy descriptions and instead focus on creating a plan that is easy to read —using bullets and short sentences whenever possible.

Have someone review your business plan

Writing a business plan in a vacuum is never a good idea. Sometimes it’s helpful to zoom out and check if your plan makes sense to someone else. You also want to make sure that it’s easy to read and understand.

Don’t wait until your plan is “done” to get a second look. Start sharing your plan early, and find out from readers what questions your plan leaves unanswered. This early review cycle will help you spot shortcomings in your plan and address them quickly, rather than finding out about them right before you present your plan to a lender or investor.

If you need a more detailed review, you may want to explore hiring a professional plan writer to thoroughly examine it.

Use a free business plan template and business plan examples to get started

Knowing what information to include in a business plan is sometimes not quite enough. If you’re struggling to get started or need additional guidance, it may be worth using a business plan template. 

There are plenty of great options available (we’ve rounded up our 8 favorites to streamline your search).

But, if you’re looking for a free downloadable business plan template , you can get one right now; download the template used by more than 1 million businesses. 

Or, if you just want to see what a completed business plan looks like, check out our library of over 550 free business plan examples . 

We even have a growing list of industry business planning guides with tips for what to focus on depending on your business type.

Common pitfalls and how to avoid them

It’s easy to make mistakes when you’re writing your business plan. Some entrepreneurs get sucked into the writing and research process, and don’t focus enough on actually getting their business started. 

Here are a few common mistakes and how to avoid them:

Not talking to your customers : This is one of the most common mistakes. It’s easy to assume that your product or service is something that people want. Before you invest too much in your business and too much in the planning process, make sure you talk to your prospective customers and have a good understanding of their needs.

• Overly optimistic sales and profit forecasts: By nature, entrepreneurs are optimistic about the future. But it’s good to temper that optimism a little when you’re planning, and make sure your forecasts are grounded in reality. 
• Spending too much time planning: Yes, planning is crucial. But you also need to get out and talk to customers, build prototypes of your product and figure out if there’s a market for your idea. Make sure to balance planning with building.
• Not revising the plan: Planning is useful, but nothing ever goes exactly as planned. As you learn more about what’s working and what’s not—revise your plan, your budgets, and your revenue forecast. Doing so will provide a more realistic picture of where your business is going, and what your financial needs will be moving forward.
• Not using the plan to manage your business: A good business plan is a management tool. Don’t just write it and put it on the shelf to collect dust – use it to track your progress and help you reach your goals.
• Presenting your business plan

The planning process forces you to think through every aspect of your business and answer questions that you may not have thought of. That’s the real benefit of writing a business plan – the knowledge you gain about your business that you may not have been able to discover otherwise.

With all of this knowledge, you’re well prepared to convert your business plan into a pitch presentation to present your ideas. 

A pitch presentation is a summary of your plan, just hitting the highlights and key points. It’s the best way to present your business plan to investors and team members.

Dig Deeper: Learn what key slides should be included in your pitch deck

Use your business plan to manage your business

One of the biggest benefits of planning is that it gives you a tool to manage your business better. With a revenue forecast, expense budget, and projected cash flow, you know your targets and where you are headed.

And yet, nothing ever goes exactly as planned – it’s the nature of business.

That’s where using your plan as a management tool comes in. The key to leveraging it for your business is to review it periodically and compare your forecasts and projections to your actual results.

Start by setting up a regular time to review the plan – a monthly review is a good starting point. During this review, answer questions like:

• Did you meet your sales goals?
• Is spending following your budget?
• Has anything gone differently than what you expected?

Now that you see whether you’re meeting your goals or are off track, you can make adjustments and set new targets. 

Maybe you’re exceeding your sales goals and should set new, more aggressive goals. In that case, maybe you should also explore more spending or hiring more employees. 

Or maybe expenses are rising faster than you projected. If that’s the case, you would need to look at where you can cut costs.

A plan, and a method for comparing your plan to your actual results , is the tool you need to steer your business toward success.

Learn More: How to run a regular plan review

Free business plan templates and examples

Kickstart your business plan writing with one of our free business plan templates or recommended tools.

Free business plan template

Download a free SBA-approved business plan template built for small businesses and startups.

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Download a free one-page plan template to write a useful business plan in as little as 30-minutes.

Sample business plan library

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How to write a business plan FAQ

What is a business plan?

A document that describes your business , the products and services you sell, and the customers that you sell to. It explains your business strategy, how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

What are the benefits of a business plan?

A business plan helps you understand where you want to go with your business and what it will take to get there. It reduces your overall risk, helps you uncover your business’s potential, attracts investors, and identifies areas for growth.

Having a business plan ultimately makes you more confident as a business owner and more likely to succeed for a longer period of time.

What are the 7 steps of a business plan?

The seven steps to writing a business plan include:

• Write a brief executive summary
• Describe your products and services.
• Conduct market research and compile data into a cohesive market analysis.
• Describe your marketing and sales strategy.
• Outline your organizational structure and management team.
• Develop financial projections for sales, revenue, and cash flow.
• Add any additional documents to your appendix.

What are the 5 most common business plan mistakes?

There are plenty of mistakes that can be made when writing a business plan. However, these are the 5 most common that you should do your best to avoid:

• 1. Not taking the planning process seriously.
• Having unrealistic financial projections or incomplete financial information.
• Inconsistent information or simple mistakes.
• Failing to establish a sound business model.
• Not having a defined purpose for your business plan.

What questions should be answered in a business plan?

Writing a business plan is all about asking yourself questions about your business and being able to answer them through the planning process. You’ll likely be asking dozens and dozens of questions for each section of your plan.

However, these are the key questions you should ask and answer with your business plan:

• How will your business make money?
• Is there a need for your product or service?
• Who are your customers?
• How are you different from the competition?
• How will you reach your customers?
• How will you measure success?

How long should a business plan be?

The length of your business plan fully depends on what you intend to do with it. From the SBA and traditional lender point of view, a business plan needs to be whatever length necessary to fully explain your business. This means that you prove the viability of your business, show that you understand the market, and have a detailed strategy in place.

If you intend to use your business plan for internal management purposes, you don’t necessarily need a full 25-50 page business plan. Instead, you can start with a one-page plan to get all of the necessary information in place.

What are the different types of business plans?

While all business plans cover similar categories, the style and function fully depend on how you intend to use your plan. Here are a few common business plan types worth considering.

Traditional business plan: The tried-and-true traditional business plan is a formal document meant to be used when applying for funding or pitching to investors. This type of business plan follows the outline above and can be anywhere from 10-50 pages depending on the amount of detail included, the complexity of your business, and what you include in your appendix.

Business model canvas: The business model canvas is a one-page template designed to demystify the business planning process. It removes the need for a traditional, copy-heavy business plan, in favor of a single-page outline that can help you and outside parties better explore your business idea.

One-page business plan: This format is a simplified version of the traditional plan that focuses on the core aspects of your business. You’ll typically stick with bullet points and single sentences. It’s most useful for those exploring ideas, needing to validate their business model, or who need an internal plan to help them run and manage their business.

Lean Plan: The Lean Plan is less of a specific document type and more of a methodology. It takes the simplicity and styling of the one-page business plan and turns it into a process for you to continuously plan, test, review, refine, and take action based on performance. It’s faster, keeps your plan concise, and ensures that your plan is always up-to-date.

What’s the difference between a business plan and a strategic plan?

A business plan covers the “who” and “what” of your business. It explains what your business is doing right now and how it functions. The strategic plan explores long-term goals and explains “how” the business will get there. It encourages you to look more intently toward the future and how you will achieve your vision.

However, when approached correctly, your business plan can actually function as a strategic plan as well. If kept lean, you can define your business, outline strategic steps, and track ongoing operations all with a single plan.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Noah is the COO at Palo Alto Software, makers of the online business plan app LivePlan. He started his career at Yahoo! and then helped start the user review site Epinions.com. From there he started a software distribution business in the UK before coming to Palo Alto Software to run the marketing and product teams.

Table of Contents

• Use AI to help write your plan
• Common planning mistakes
• Manage with your business plan
• Templates and examples

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The 5 Best Business Plan Books (& Why You Shouldn’t Read Them)

You probably know that having a business plan will improve your chances of success in starting and growing your business. Reading the right business plan book can help you craft the perfect plan. But, there are more efficient ways than reading a book to learn about business planning and to complete your plan. In this article, I’ll show you such options, and if you’d still like to read a book, I’ll tell you the top 5 business planning books to consider.  

Why You Don’t Need To Read a Business Planning Book

There are many books about business planning that you could read, but why shouldn’t you? 

The simple answer, time. 

Reading even the best business plan books will take time to read and then process, and this is on top of the considerable time it takes to complete market research and write a solid business plan.

Instead, technology has provided today’s entrepreneurs with easy-to-follow simple business plan templates that teach you how to write the business plan as you complete the plan. Although every business is unique, a business plan template will offer you a great starting point and often includes customizable financial plans specific to your industry.   

Download our Ultimate Business Plan Template here

The right business plan template will include all essential components of a successful business plan including:

• Executive Summary
• Company Overview
• Market Analysis
• Customer Analysis
• Competitive Analysis
• Marketing Plan
• Operations Plan
• Management Team
• Financial Plan

You can learn more about each of these business plan components and how to write a business plan from the business planning experts at Growthink.

    Finish Your Business Plan Today!

If you enjoy reading & want to learn more….

So, you don’t actually need to read a business book, but if you do, learn from the experts who have ventured on the same entrepreneurial journey. Their practical advice provides a step-by-step guide through the planning process to help you complete the necessary market research to stay competitive while completing the financial analysis needed to secure funding.  

How We Can Help You Succeed

At Growthink, we have helped over 5,000 entrepreneurs and business owners develop business plans to start and grow their companies. With this extensive experience, we’ve created a simple business plan template and business plan examples for 100+ sectors (and we’re still going!) to save you time and make it even easier to write a successful business plan. Check out the links below or learn more in our Business Plan Writing Help Center to help you launch or expand your successful business.

How to Finish Your Business Plan in 1 Day!

Don’t you wish there was a faster, easier way to finish your business plan?

With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Other Helpful Business Plan Articles & Templates

Business Plan Development Guide

(6 reviews)

Lee Swanson, University of Saskatchewan

Copyright Year: 2017

Publisher: OPENPRESS.USASK.CA

Language: English

Formats Available

Conditions of use.

Learn more about reviews.

Reviewed by Kevin Heupel, Affiliate Faculty, Metropolitan State University of Denver on 3/4/20

The text does a good job of providing a general outline about writing and developing a written business plan. All of the important steps and components are included. However, the text is light on details, examples, and rationale for each element... read more

Comprehensiveness rating: 3 see less

The text does a good job of providing a general outline about writing and developing a written business plan. All of the important steps and components are included. However, the text is light on details, examples, and rationale for each element of the business plan. Some examples from actual business plans would be helpful.

Content Accuracy rating: 4

For the most part, the content is accurate. The content covers all important aspects of drafting a business plan. I thought the industry analysis could use more information about collecting primary and secondary sources; instead, this information was referenced in the marketing plan section.

Relevance/Longevity rating: 5

Most of the content relies on cites as far back as 2006; however, when it comes to developing and writing a business plan nothing has changed. Thus, the content is current and there is no concern about it becoming obsolete in the near future.

Clarity rating: 4

The text is clear. There are no difficult terms used and the writing is simple. The text uses a lot of bullet points though, which gets tedious to read for a few pages.

Consistency rating: 5

The text does a good job of maintaining consistency in terms of framework and terminology. The text is organized where it's easy to find the information you want in a quick manner.

Modularity rating: 3

The text has a lot of bullet points and the paragraphs are dense. However, the use of subheading is excellent.

Organization/Structure/Flow rating: 5

The book is organized as if you're writing a business plan from start to finish, which is helpful as a practical guide.

Interface rating: 5

There are no navigation problems, distortion of images/charts, or any other display features that may distract or confuse the reader.

Grammatical Errors rating: 5

The text is free of grammatical errors. The sentence structure is simple with many bullet points, which helps to avoid any grammatical issues.

Cultural Relevance rating: 5

This book was written by a Canadian professor and provides references to Canadian sources. However, the information in this text can be used for U.S. schools.

This book is very short and provides a good, general overview about the process of creating and writing a business plan. It won't help a reader if he/she is confused about a certain part of the business plan. The reader will have to find another source, such as "Preparing Effective Business Plans" by Bruce Barringer, Ph.D. The book provides links to good resources and a finished business plan that the reader can reference. I would recommend the book for undergraduate courses.

Reviewed by Kenneth Lacho, Professor of Management, The University of New Orleans on 6/19/18

1. Text is relevant to Canada. Not the United States 2. Needs to cover resources available to entrepreneur, e.g., federal government agencies, trade associations, chambers of commerce, economic development agencies. 3. Discuss local economy or... read more

1. Text is relevant to Canada. Not the United States 2. Needs to cover resources available to entrepreneur, e.g., federal government agencies, trade associations, chambers of commerce, economic development agencies. 3. Discuss local economy or economic area relevant to this proposed business. 4. Business model ok as a guide. 5. Suggested mission statement to cover: product/business, target customer, geographical area covered. 6. Need detailed promotion plan, e.g., personal selling, advertising, sales promotion, networking publicity, and social media. 7. How do you find the target market? 8. Chapter 6 too much detail on debt and equity financing. 9. Discuss how to find sources of financing, e.g., angels. 10. Expand coverage of bootstring, crowdfunding. 11. Chapter 4 – good checklist. 12. Chapter 3 - overlaps. 13. Chapter 7 – 3 pages of executive summary – double or single spaced typing. Number all tables, graphs. 14. Some references out-of-date, mostly academic. Bring in trade magazines such as Entrepreneur.

Content Accuracy rating: 5

In my opinion, the content is accurate and error free.

Relevance/Longevity rating: 4

The material is relevant to writing a business plan. I wonder if the Porter, SWOT VRIO, etc. material is too high level for students who may not be seniors or have non-business degrees (e.g., liberal arts). Porter has been around for a while and does have longevity. The author has to be more alert to changes in promotion, e.g., social media and sources of financing, e.g., crowdfunding.

Clarity rating: 3

As noted in No. 9, the tone of the writing is too academic, thus making the material difficult to understand. Paragraphs are too long. Need to define: Porter, TOWS Matrix, VRIO, PESTEL. A student less from a senior or a non-business major would not be familiar with these terms.

Consistency rating: 4

The text is internally consistent. The model approach helps keep the process consistent.

Modularity rating: 4

The process of developing a business plan is divided into blocks which are parts of the business plan. Paragraphs tend to be too long in some spots.

Organization/Structure/Flow rating: 4

The topics are presented in a logical step-wise flow. The language style is too academic in parts, paragraphs too long. Leaves out the citations. Provides excellent check lists.

There are no display features which confuse the reader.

Grammatical Errors rating: 4

The text has no grammatical errors. On the other hand, I found the writing to be too academic in nature. Some paragraphs are too long. The material is more like an academic conference paper or journal submission. Academic citations references are not needed. The material is not exciting to read.

The text is culturally neutral. There are no examples which are inclusive of a variety of races, ethnicities, and backgrounds.

This book best for a graduate class.

Reviewed by Louis Bruneau, Part Time Faculty, Portland Community College on 6/19/18

The text provides appropriate discussion and illustration of all major concepts and useful references to source and resource materials. read more

Comprehensiveness rating: 5 see less

The text provides appropriate discussion and illustration of all major concepts and useful references to source and resource materials.

Contents of the book were accurate, although it could have benefited from editing/proofreading; there was no evidence of bias. As to editing/proofreading, a couple of examples: A. “Figure 1 – Business Plan… “ is shown at the top of the page following the diagram vs. the bottom of the page the diagram is on. (There are other problems with what is placed on each page.) B. First paragraph under heading “Essential Initial Research” there is reference to pages 21 to 30 though page numbering is missing from the book. (Page numbers are used in the Table of Contents.)

The book is current in that business planning has been stable for sometime. The references and resources will age in time, but are limited and look easy to update.

Clarity rating: 5

The book is written in a straightforward way, technical terms that needed explanations got them, jargon was avoided and generally it was an easy read.

The text is internally consistent in terms of terminology and framework.

Modularity rating: 5

The book lends itself to a multi-week course. A chapter could be presented and students could work on that stage of Plan development. It could also be pre-meeting reading for a workshop presentation. Reorganizing the book would be inappropriate.

The topics in the text are presented in a logical, clear fashion.

Generally, the book is free of interface problems. The financial tables in the Sample Plan were turned 90° to maintain legibility. One potential problem was with Figure 6 – Business Model Canvas. The print within the cells was too small to read; the author mitigated the problem by presenting the information, following Figure 6, in the type font of the text.

I found no grammatical errors.

The text is not culturally insensitive or offensive in any way.

I require a business plan in a course I teach; for most of the students the assignment is a course project that they do not intend to pursue in real life. I shared the book with five students that intended to develop an actual start-up business; three of them found it helpful while the other two decided not to do that much work on their plans. If I were planning a start-up, I would use/follow the book.

Reviewed by Todd Johnson, Faculty of Business, North Hennepin Community College on 5/21/18

The text is a thorough overview of all elements of a business plan. read more

Comprehensiveness rating: 4 see less

The text is a thorough overview of all elements of a business plan.

The content is accurate and seems to lack bias.

Content seems relevant and useful . It does not help an entrepreneur generate ideas, and is very light on crowdfunding and other novel funding source content. It is more traditional. This can be easily updated in future versions, however. "Social Media" appears once in the book, as does "Crowd Funding".

The book is comprehensive, but perhaps not written in the most lucid, accessible prose. I am not sure any college student could pick this up and just read and learn. It would be best used as a "teach along guide" for students to process with an instructor.

The text seems consistent. The author does a nice job of consistently staying on task and using bullets and brevity.

Here I am not so certain. The table of contents is not a good guide for this book. It does make the book look nicely laid out, but there is a lot of complexity within these sections. I read it uncertain that it was well organized. Yes there are many good bits of information, however it is not as if I could spend time on one swathe of text at a time. I would need to go back and forth throughout the text.

Organization/Structure/Flow rating: 2

Similar to the above. I did not like the flow and organization of this. An editor would help things be in a more logical order.

Interface rating: 2

The interface is just OK. It is not an attractice interface, as it presents text in a very dense manner. The images and charts are hard to follow.

I did not find any grammatical errors.

Cultural Relevance rating: 4

I a not certain of the origins of Saskatchewan, but I do feel this is a different read. It is more formal and dense than it has to be. This would be a difficult read for my students. I do not feel it is insensitive in any way, or offensive in any way.

I would not adopt this book if given the chance. It is too dense, and not organized very well, even though the information is very good. The density and lack of modularity are barriers to understanding what is obviously very good information.

Reviewed by Mariana Mitova, Lecturer, Bowling Green State University on 2/1/18

Though this textbook has a prescriptive nature, it is quite comprehensive. The author strikes a good balance between presenting concepts in a concise way and providing enough information to explain them. Many every-day examples and live links to... read more

Though this textbook has a prescriptive nature, it is quite comprehensive. The author strikes a good balance between presenting concepts in a concise way and providing enough information to explain them. Many every-day examples and live links to other resources add to the completeness of the textbook.

Content seems accurate.

Since the content is somewhat conceptual, the text will not become obsolete quickly. In addition, the author seems to be updating and editing content often hence the relevance to current developments is on target.

The text is very clear, written in clear and straight-to-the point language.

The organization of content is consistent throughout the entire text.

The textbook is organized by chapters, beginning with overview of the model used and followed by chapters for each concept within the model. Nicely done.

The flow is clear, logical and easy to follow.

Overall, images, links, and text are well organized. Some headlines were misaligned but still easy to follow.

No concerns for grammar.

No concerns for cultural irrelevance.

Reviewed by Darlene Weibye, Cosmetology Instructor, Minnesota State Community and Technical College on 2/1/18

The text is comprehensive and covers the information needed to develop a business plan. The book provides all the means necessary in business planning. read more

The text is comprehensive and covers the information needed to develop a business plan. The book provides all the means necessary in business planning.

The text was accurate, and error-free. I did not find the book to be biased.

The content is up-to-date. I am reviewing the book in 2017, the same year the book was published.

The content was very clear. A business plan sample included operation timelines, start up costs, and all relevant material in starting a business.

The book is very consistent and is well organized.

The book has a table of contents and is broken down into specific chapters. The chapters are not divided into sub topics. I do not feel it is necessary for sub topics because the chapters are brief and to the point.

There is a great flow from chapter to chapter. One topic clearly leads into the next without repeating.

The table of contents has direct links to each chapter. The appearance of the chapters are easy to read and the charts are very beneficial.

Does not appear to have any grammatical errors.

The text is not culturally insensitive or offensive.

I am incorporating some of the text into the salon business course. Very well written book.

Table of Contents

Introduction

• Chapter 1 – Developing a Business Plan
• Chapter 2 – Essential Initial Research
• Chapter 3 – Business Models
• Chapter 4 – Initial Business Plan Draft
• Chapter 5 – Making the Business Plan Realistic
• Chapter 6 – Making the Plan Appeal to Stakeholders and Desirable to the Entrepreneur
• Chapter 7 – Finishing the Business Plan
• Chapter 8 – Business Plan Pitches

References Appendix A – Business Plan Development Checklist and Project Planner Appendix B – Fashion Importers Inc. Business Plan Business Plan Excel Template

Ancillary Material

About the book.

This textbook and its accompanying spreadsheet templates were designed with and for students wanting a practical and easy-to-follow guide for developing a business plan. It follows a unique format that both explains what to do and demonstrates how to do it.

About the Contributors

Dr. Lee Swanson is an Associate Professor of Management and Marketing at the Edwards School of Business at the University of Saskatchewan. His research focuses on entrepreneurship, social entrepreneurship, Aboriginal entrepreneurship, community capacity-building through entrepreneurship, and institutional-stakeholder engagement. Dr. Swanson’s current research is funded through a Social Sciences Humanities Research Council grant and focuses on social and economic capacity building in Northern Saskatchewan and Northern Scandinavia. He is also actively studying Aboriginal community partnerships with resource based companies, entrepreneurship centres at universities, community-based entrepreneurship, and entrepreneurial attitudes and intentions. He teaches upper-year and MBA entrepreneurship classes and conducts seminars on business planning and business development.

Contribute to this Page

How to Write a Business Book: In-Depth Guide 

Think your years of experience and business acumen can translate into a bestselling business book? At Forbes Books, we’ve helped thousands of authors turn their expert insights into published books, backed with the name of Forbes. This guide is designed to explain how to write a business book with a publisher. 

We’ve created this guide to support your journey toward authorship. While a simple guide cannot account for every step you’ll encounter, it provides a workable roadmap for you to use. And remember, with Forbes Books, you’ll work with seasoned publishers through each step of the process. 

Step 1: Determine Your Premise

Not every author has a burning idea for their book. Yet, they know that they have enough experiences and authority in their field to fill a book, or even two or three. Before you begin, start by brainstorming what you want to communicate and how you want to use it. This is what we call the purpose of your book.

Know Your Purpose in Writing a Book

Alternatively, some authors want to chronicle their experiences in a specific industry. Others still choose to write so they can offer fresh perspectives in their field and support the movement of ideas. 

Whatever your impetus is, it’s important to identify it early on. A book written for prospective customers must be constructed differently than a book written to business peers. 

Evaluate Your Experience 

One of the easiest ways to narrow down your book’s topic is by evaluating your own experiences. What stands out as a unique quality, skill, or experience you have that others don’t?

If you’re able to provide fresh insight on a relevant topic, you carve out a space for yourself among the thongs of other books available to your audience. By following this Blue Ocean Strategy, you create new demand and eliminate competition. 

Determine Your Audience’s Needs

A published book is an impressive achievement. But as a business owner, CEO, or thought leader, you know that isn’t enough. Aim for something beyond personal fulfillment in your writing. Aim for delighting your audience by providing value, entertainment, and a wealth of knowledge. 

To do this, you must understand who your audience is and what they are seeking. Do you understand their frustrations, questions, and needs? The better you can identify these factors, the better your book will resonate with your audience and become a valuable resource. 

Step 2: Determine Your Manuscript Preferences

If you’ve done your research, you know many authors don’t pen the manuscript themselves. While some authors prefer to write the manuscript, others prefer to leave the writing to a professional. In these cases, the authors offer their insights to a ghostwriter via dialogue or text. For those who need writing support, a third option exists — coaching. 

Before you spend too long laboring over your Word document, decide which method you prefer for manuscript creation.

Using a Ghostwriter

Many business leaders prefer to use the talents of a ghostwriter to turn their ideas into text. The book itself remains the intellectual property of the author — not the ghostwriter. The ghostwriter acts as an aid to communicate the author’s ideas into an appealing format and structure.

For more information on the ghostwriting process, read our blog, Why Ghostwriting May Be Right for You .

Using a Writing Coach or Book Doctor

A book coach or book doctor are alternatives for authors who prefer to write the manuscript. Writing coaches offer support for overall structure and make high-level recommendations. Book doctors provide greater support for those who want greater direction or require more writing help.

For more information on using a book coach or doctor, read our blog, Editing a Manuscript? Work with a Book Doctor .

Step 3: Find Your Book Publisher

Who you choose for your book publisher will determine many aspects of your publishing process. Your publisher may provide complimentary services, such as ghostwriting, or book promotion packages.

Your publisher will also determine the distribution of your book and your rights to your book. After you know what support you’d like in your manuscript creation, it’s time to evaluate your choices for the book publisher.

Publishing House vs. Self-Publishing

An author has three options: work with a traditional publisher, an independent publisher, or publish the book themselves. When you work with a publisher, the process is outlined for you, creating an inclusive one-stop shop for everything you need.

A designer is provided for your book cover. A team of editing experts edit your manuscript and correct errors. And a distributor makes deals with retailers to carry your book. Everything you need to publish your book is offered at a publishing house.

If you choose to self-publish, you will need to do these things yourself or hire accordingly. You will keep all rights to your book, but your distribution channels are minimized as no one is presenting your book on your behalf. However, self-publishing may be preferable for those who don’t want to suffer rejection from a traditional publishing house or arrange for an agent.

Independent vs. Traditional Publishers

If you choose to use a publisher , you have yet another decision to make — independent or traditional . Traditional publishers are likely what you think of when you consider a publishing house. The “ Big 5″ publishers dominate much of the traditional publishing market.

Still, only a fraction of book proposals are accepted by traditional publishers. Even if you make the cut, you resign creative control to your book and many of the rights to your book.

Independent publishers offer a different path for those who want support and prestige, without the hassle of traditional publishing. As an author with an independent publisher, like Forbes Books, you keep all the rights to your book. Furthermore, you maintain all creative control over your work and have access to additional services, such as media services or book promotions. Only the top projected books at traditional publishers receive promotional support.

The decision depends on your preferences and desire for creative control, rights, and promotional services.

Learn more about your publishing options in our blog, What is Independent Publishing? | Publishing Models .

Decide Your Book Distribution Preferences

Do you expect to see your book in retail stores and brick and mortar stores across the country? If so, you need a distribution team working on your behalf. Most retail stores will only accept books from publishers, putting self-published titles at a disadvantage.

Most retailers only accept Offset print books, as opposed to Print on Demand (POD) titles. If you’re serious about your distribution reach, ensure your publisher accommodates offset printing.

For information on POD and Offset printing, read our blog, Print on Demand Versus Offset Printing .

Step 4: Build Your Outline or Blueprint

Before you spend hours laboring over a manuscript, you need an outline. Before you even begin your outline, you need an overarching blueprint of your publishing plan.

At Forbes Books, we help our authors create a blueprint. These blueprints offer a customized plan for their book and include recommended promotional or media services. This blueprint is converted to a detailed Master Book Plan so you know exactly what is needed of you during each stage of the publishing process.

Part of the blueprint process is creating an outline. Even the best writers need an outline to ensure that each chapter intentionally contributes to the book’s structure. For those creating their own outline, create a chapter by chapter outline and then fill in the main points of each chapter.

Step 5: Build a Promotional Plan

Don’t wait until the manuscript is finished to build your promotional plan. If you’re working with an independent publishing company, they will help you cultivate your plan from the beginning.

If you’re self-publishing, you will need to create your own promotional plan and/or seek a promotional PR team to help you develop your plan.

Your promotional plan may include:

• A reader reviewer plan via NetGallery and Goodreads
• Book award submission plan
• PR placement campaigns
• Best seller campaigns

While most of your promotional plans aren’t activated until just prior to your launch, you need to solidify your plan.

Step 6: Create a Writing Schedule

Once your preliminary steps are complete, it’s time to turn your plan into action. If you’re writing the book yourself, this includes creating a set writing schedule. By creating a discipline, you will increase your productivity and find the process more rewarding.

Your writing schedule can be determined by three things:

• Location: Try writing in the same place every time you write. Carve out a space with minimal distractions that has everything you need. Have a stash of pens, notepads, chargers, and even food and drink to keep you focused as you write.
• Time: You may wish to set a specific time for you to write, such as 5pm Mondays, Wednesdays, and Fridays. Others put a bookend on their time, such as two hours of writing. This helps you maintain balance as you’re writing and ensures you’re refreshed as you write.
• Amount of time or word count: Some authors prefer to set an expected word count per writing session, rather than a time limit.

Step 7: Know Your Deadlines

To keep your book on schedule, you need to know and meet your deadlines. Your distribution team uses your projected launch date to pitch your book to retailers. Thus, it’s important to meet your deadlines. During the book publishing process, you will write your book (if elected), approve developmental edits, cover art, and front matter. And much more!

Pin up a calendar of your important deadlines to stay on top of your schedule. If you’re working with a publishing house, ask them to give you the key dates well in advance so you have plenty of time to accomplish your tasks.

Step 8: Celebrate the Milestones

There are many smaller accomplishments on the way to book-launch day. Take time to celebrate each milestone as a mark of your success. With each milestone, update your followers on social media and remember to promote the book to your customer base.

Finished Manuscript: Whether you worked with a ghostwriter or wrote each word yourself, the first draft of your manuscript is celebration-worthy!

Developmental Edits: Making it through the developmental edits stage is an outstanding achievement. Your book now has much of the structure as it will on publication.

Final Line Edit Sign Off: Your book is ready to be laid out and completed for the printer! Let your followers know and begin prepping your social media calendar, leading up to its official launch.

Step 9: Build Momentum For Your Book

With your book nearing publication, it’s time to ramp up your promotion plans and build momentum for your book launch.

Reader Reviews

Reader reviews are an important part of building awareness and positive buzz around your book. To do this, you will want to use NetGallery and/or Goodreads to connect with reviewers. By offering your book as a free digital download, you encourage readers to read and review.

Book Publicity Campaigns

Gain local and national exposure with a book publicity campaign leading up to your book launch. This method gets your book in newspapers, magazines, and trade publications to support a wider awareness with your target audience.

Best Sellers Campaign

For your book to become a bestseller, you need a strategy. Take advantage of best seller campaigns to help your book receive the needed purchases to achieve this lauded title. These campaigns can be conducted through Forbes for Amazon and Wall Street Journal.

Step 10: Release Your Book

With the release of your book, it’s time to celebrate your new status as an author. While you may wish to revel in your success, it’s an ideal time to continue promoting your book and your personal image.

With a book title to your name, you may achieve greater speaking engagements and business opportunities. It’s time to position yourself as an expert and discover how to use your book for increased ROI for years to come.

Ready to become an Forbes Books author? Discover our different publishing programs and find out if you qualify

Lissie Kidd

Sr. marketing copywriter.

Lissie Kidd is a Sr. Copywriter with several hundred articles in her portfolio and even more edited and published under her supervision. Lissie holds a MA in Communications from Grand…

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How to write an effective business plan in 11 steps (with workbook)

February 02, 2023 | 14 minute read

Writing a business plan is a powerful way to position your small business for success as you set out to meet your goals. Landmark studies suggest that business founders who write one are 16% more likely to build viable businesses than those who don’t and that entrepreneurs focused on high growth are 7% more likely to have written a business plan. 1 Even better, other research shows that owners who complete business plans are twice as likely to grow their business successfully or obtain capital compared with those who don’t. 2

The best time to write a business plan is typically after you have vetted and researched your business idea. (See How to start a business in 15 steps. ) If conditions change later, you can rewrite the plan, much like how your GPS reroutes you if there is traffic ahead. When you update your plan regularly, everyone on your team, including outside stakeholders such as investors, will know where you are headed.

What is a business plan?

Typically 15-20 pages long, a business plan is a document that explains what your business does, what you want to achieve in the business and the strategy you plan to use to get there. It details the opportunities you are going after, what resources you will need to achieve your goals and how you will define success.

Why are business plans important?

Business plans help you think through barriers and discover opportunities you may have recognized subconsciously but have not yet articulated. A business plan can also help you to attract potential lenders, investors and partners by providing them with evidence that your business has all of the ingredients necessary for success.

What questions should a business plan answer?

Your business plan should explain how your business will grow and succeed. A great plan will provide detailed answers to questions that a banker or investor will have before putting money into the business, such as:

• What products or services do you provide?
• Who is your target customer?
• What are the benefits of your product and service for customers?
• How much will you charge?
• What is the size of the market?
• What are your marketing plans?
• How much competition does the business face in penetrating that market?
• How much experience does the management team have in running businesses like it?
• How do you plan to measure success?
• What do you expect the business’s revenue, costs and profit to be for the first few years?
• How much will it cost to achieve the goals stated in the business plan?
• What is the long-term growth potential of the business? Is the business scalable?
• How will you enable investors to reap the rewards of backing the business? Do you plan to sell the business to a bigger company eventually or take it public as your “exit strategy”?

How to write a business plan in 11 steps

This step-by-step outline will make it easier to write an effective business plan, even if you’re managing the day-to-day demands of starting a new business. Creating a table of contents that lists key sections of the plan with page numbers will make it easy for readers to flip to the sections that interest them most.

• Use our editable workbook to capture notes and organize your thoughts as you review these critical steps. Note: To avoid losing your work, please remember to save this PDF to your desktop before you begin.

1. Executive summary

The executive summary is your opportunity to make a great first impression on investors and bankers. It should be just as engaging as the enthusiastic elevator pitch you might give if you bumped into a potential backer in an elevator.

In three to five paragraphs, you’ll want to explain what your business does, why it will succeed and where it will be in five years. The executive summary should include short descriptions of the following:

• Business concept. What will your business do?
• Goals and vision. What do you expect the business to achieve, both financially and for other key stakeholders, such as the community?
• Product or service. What does your product or service do — and how is it different from those of competitors?
• Target market. Who do you expect to buy your product or service?
• Marketing strategy. How will you tell people about your product or service?
• Current revenue and profits. If your business is pre-revenue, offer sales projections.
• Projected revenue and profits. Provide a realistic look at the next year, as well as the next three years, ideally.
• Financial resources needed. How much money do you need to borrow or raise to fund your plan?
• Management team. Who are the company’s leaders and what relevant experience will they contribute?

2. Business overview

Here is where you provide a brief history of the business and describe the product(s) or service(s) it offers. Make sure you describe the problem you are attempting to solve, for whom you will solve it (your customers) and how you will solve it. Be sure to describe your business model (such as direct-to-consumer sales through an online store) so readers can envision how you will make sales. Also mention your business structure (such as a sole proprietorship , general partnership, limited partnership or corporation) and why it is advantageous for the business. And be sure to provide context on the state of your industry and where your business will fit into it.

3. Business goals and vision

Explain what you hope to achieve in the business (your vision) as well as its mission and value proposition. Most founders judge success by the size to which they grow the business using measures such as revenue or number of employees. Your goals may not be solely financial. You may also wish to provide jobs or solve a societal problem. If that’s the case, mention those goals as well.

If you are seeking outside funding, explain why you need the money, how you will put it to work to grow the business and how you expect to achieve the goals you have set for the business. Also explain your exit strategy—that is, how you would enable investors to cash out, whether that means selling the business or taking it public.

4. Management and organization

Many investors say they bet on the team behind a business more than the business idea, trusting that talented and experienced people will be capable of bringing sound business concepts to life. With that in mind, make sure to provide short bios of the key members of your management team (including yourself) that emphasize the relevant experience each individual brings, along with their special talents and industry recognition. Many business plans include headshots of the management team with the bios.

Also describe more about how your organization will be structured. Your company may be a sole proprietorship, a limited liability company (LLC) or a corporation in one or more states.

If you will need to hire people for specific roles, this is the place to mention those plans. And if you will rely on outside consultants for certain roles — such as an outsourced CFO — be sure to make a note of it here. Outside backers want to know if you’ve anticipated the staffing you need.

5. Service or product line

A business will only succeed if it sells something people want or need to buy. As you describe the products or services you will offer, make sure to explain what benefits they will provide to your target customers, how they will differ from competing offerings and what the buying cycle will likely be so it is clear that you can actually sell what you are offering. If you have plans to protect your intellectual property through a copyright or patent filing, be sure to mention that. Also explain any research and development work that is underway to show investors the potential for additional revenue streams.

6. Market/industry analysis

Anyone interested in providing financial backing to your business will want to know how big your company can potentially grow so they have an idea of what kind of returns they can expect. In this section, you’ll be able to convey that by explaining to whom you will be selling and how much opportunity there is to reach them. Key details to include are market size; a strengths, weaknesses, opportunities and threats (SWOT) analysis ; a competitive analysis; and customer segmentation. Make it clear how you developed any projections you’ve made by citing interviews or research.

Also describe the current state of the industry. Where is there room for improvement? Are most companies using antiquated processes and technology? If your business is a local one, what is the market in your area like? Do most of the restaurants where you plan to open your café serve mediocre food? What will you do better?

In this section, also list competitors, including their names, websites and social media handles. Describe each source of competition and how your business will address it.

7. Sales and marketing

Explain how you will spread the word to potential customers about what you sell. Will you be using paid online search advertising, social media promotions, traditional direct mail, print advertising in local publications, sponsorship of a local radio or TV show, your own YouTube content or some other method entirely? List all of the methods you will use.

Make sure readers know exactly what the path to a sale will be and why that approach will resonate with customers in your ideal target markets as well as existing customer segments. If you have already begun using the methods you’ve outlined, include data on the results so readers know whether they have been effective.

8. Financials

In a new business, you may not have any past financial data or financial statements to include, but that doesn’t mean you have nothing to share. Preparing a budget and financial plan will help show investors or bankers that you have developed a clear understanding of the financial aspects of running your business. (The U.S. Small Business Administration (SBA) has prepared a guide you can use; SCORE , a nonprofit organization that partners with the SBA, offers a financial projections template to help you look ahead.) For an existing business, you will want to include income statements, profit and loss statements, cash flow statements and balance sheets, ideally going back three years.

Make a list of the specific steps you plan to take to achieve the financial results you have outlined. The steps are generally the most detailed for the first year, given that you may need to revise your plan later as you gather feedback from the marketplace.

Include interactive spreadsheets that contain a detailed financial analysis showing how much it costs your business to produce the goods and services you provide, the profits you will generate, any planned investments and the taxes you will pay. See our startup costs calculator to get started.

9. Financial projections

Creating a detailed sales forecast can help you get outside backers excited about supporting you. A sales forecast is typically a table or simple line graph that shows the projected sales of the company over time with monthly or quarterly details for the next 12 months and a broader projection as much as five years into the future. If you haven’t yet launched the company, turn to your market research to develop estimates. For more information, see “ How to create a sales forecast for your small business. ”

10. Funding request

If you are seeking outside financing such as a loan or equity investment, your potential backers will want to know how much money you need and how you will spend it. Describe the amount you are trying to raise, how you arrived at that number and what type of funding you are seeking (such as debt, equity or a combination of both). If you are contributing some of your own funds, it is worth noting this, as it shows that you have skin in the game.

11. Appendix

This should include any information and supporting documents that will help investors and bankers gain a greater understanding of the potential of your business. Depending on your industry, you might include local permits, licenses, deeds and other legal documents; professional certifications and licenses; media clips; information on patents and other intellectual property; key customer contracts and purchase orders; and other relevant documents.

Some business owners find it helpful to develop a list of key concepts, such as the names of the company’s products and industry terms. This can be helpful if you do business in an industry that may not be familiar to the readers of the business plan.

Tips for creating an effective business plan

Use clear, simple language. It’ll be easier to win people over if your plan is easy to read. Steer clear of industry jargon, and if you must use any phrases the average adult won’t know, be sure to define them.

Emphasize what makes your business unique. Investors and bankers want to know how you will solve a problem or gap in the marketplace differently from anyone else. Make sure you’re conveying your differentiating factors.

Nail the details. An ideal business plan will be detailed and accurate. Make sure that any financial projections you make are realistic and grounded in solid market research. (If you need help in making your calculations, you can get free advice at SCORE.) Seasoned bankers and investors will quickly spot numbers that are overly optimistic.

Take time to polish it. Your final version of the plan should be neat and professional with an attractive layout and copy that has been carefully proofread.

Include professional photos. High-quality shots of your product or place of business can help make it clear why your business stands out.

Updating an existing business plan

Some business owners in rapidly growing businesses update their business plan quarterly. Others do so every six months or every year. When you update your plan make sure you consider these three things:

• Are your goals still current? As you’ve tested your concept, your goals may have changed. The plan should reflect this.
• Have you revised any strategies in response to feedback from the marketplace? You may have found that your offerings resonated with a different customer segment than you expected or that your advertising plan didn’t work and you need to try a different approach. Given that investors will want to see a marketing and advertising plan that works, keeping this section current will ensure you are always ready to meet with one who shows interest.
• Have your staffing needs changed? If you set ambitious goals, you may need help from team members or outside consultants you did not anticipate when you first started the business. Take stock now so you can plan accordingly.

Final thoughts

Most business owners don’t follow their business plans exactly. But writing one will get you off to a much better start than simply opening your doors and hoping for the best, and it will be easier to analyze any aspects of your business that aren’t working later so you can course-correct. Ultimately, it may be one of the best investments you can make in the future of your business.

Business plan FAQs

What are common mistakes when writing a business plan.

The biggest mistake you can make when writing a business plan is creating one before the idea has been properly researched and tested. Not every idea is meant to become a business. Other common mistakes include:

• Not describing your management team in a way that is appealing to investors. Simply cutting and pasting someone’s professional bio into the management section won’t do the trick. You’ll want to highlight the credentials of each team member in a way that is relevant to this business.
• Failing to include financial projections — or including overly optimistic ones. Investors look at a lot of business plans and can tell quickly whether your numbers are accurate or pie in the sky. Have a good small business accountant review your numbers to make sure they are realistic.
• Lack of a clear exit strategy for investors. Investors may want the option to cash out eventually and would want to know how they can go about doing that.
• Slapdash presentation. Make sure to fact-check any industry statistics you cite and that any charts, graphs or images are carefully prepared and easy to read.

What are the different types of business plans?

There are a variety of styles of business plans. Here are three major types:

Traditional business plan. This is a formal document for pitching to investors based on the outline in this article. If your business is a complicated one, the plan may exceed the typical length and stretch to as many as 50 pages.

One-page business plan. This is a simplified version of a formal business plan designed to fit on one page. Typically, each section will be described in bullet points or in a chart format rather than in the narrative style of an executive summary. It can be helpful as a summary document to give to investors — or for internal use. Another variation on the one-page theme is the business model canvas .

Lean plan. This methodology for creating a business plan is ideal for a business that is evolving quickly. It is designed in a way that makes it easy to update on a regular basis. Lean business plans are usually about one page long. The SBA has provided an example of what this type of plan includes on its website.

Is the business plan for a nonprofit different from the plan for other business types?

Many elements of a business plan for a nonprofit are similar to those of a for-profit business. However, because the goal of a nonprofit is achieving its mission — rather than turning a profit — the business plan should emphasize its specific goals on that front and how it will achieve them. Many nonprofits set key performance indicators (KPIs) — numbers that they track to show they are moving the needle on their goals.

Nonprofits will generally emphasize their fundraising strategies in their business plans rather than sales strategies. The funds they raise are the lifeblood of the programs they run.

What is the difference between a business plan, a strategic plan and a marketing plan?

A strategic plan is different from the type of business plan you’ve read about here in that it emphasizes the long-term goals of the business and how your business will achieve them over the long run. A strong business plan can function as both a business plan and a strategic plan.

A marketing plan is different from a business plan in that it is focused on four main areas of the business: product (what you are selling and how you will differentiate it), price (how much your products or services will cost and why), promotion (how you will get your ideal customer to notice and buy what you are selling) and place (where you will sell your products). A thorough business plan may cover these topics, doing double duty as both a business plan and a marketing plan.

Explore more

Editable business plan workbook

Starting a new business

1 . Francis J. Green and Christian Hopp. “Research: Writing a Business Plan Makes Your Startup More Likely to Succeed.” HBR. July 14, 2017. Available online at https://hbr.org/2017/07/research-writing-a-business-plan-makes-your-startup-more-likely-to-succeed.

2 . CorpNet, “The Startup Business Plan: Why It’s Important and How You Can Create One,” June 29, 2022.

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Top 11 Little Business Books With Big Impact

Use These Short Books to Master Topics that Will Improve Your Career

• Management Careers
• Job Search Resources
• Hiring Best Practices
• Employment Law
• Employee Motivation
• Employee Management
• Management & Leadership
• Employee Benefits

Susan Heathfield is an HR and management consultant with an MS degree. She has decades of experience writing about human resources.

One trend in business books is the short management book, often written as a story or fable. These business books are approachable, useful, and may help encourage more people to read. And, as an employer, that's what you'd like to see—right? You're in favor of ongoing career development.

These business books pack a solid punch in a small package. Read some of the favorites that managers and HR staff recommend. You'll quickly agree with their assessment and understand why they have such universal appeal.

High Five! The Magic of Working Together

by Kenneth V. Blanchard, Sheldon Bowles, others (Morrow/Avon) ISBN: 0688170366 -

Fired from his job for failure to be a team player, Alan Foster helps a boy's hockey team learn both team secrets and hockey. Help from a retired girl's basketball coach, chants, cheers, focus, skill development, and knowing that, "None of us is as good as all of us," help Alan learn so he can teach. I love this book.

The Five Dysfunctions of a Team: A Leadership Fable

by Patrick Lencioni (Jossey-Bass) ISBN-13: 978-0787960759 -

Assigned to lead a dysfunctional Silicon Valley executive committee, Kathryn Petersen, a traditional manager, appointed CEO, watches and observes the effect of the group's interactions on its members and on the company's progress and results.

Following her instinctive knowledge about people and using her skill in building teams, she identifies the factors that are undermining the group's effectiveness. In story-style,

Lencioni tells how to overcome the human behaviors that corrupt this executive team's success: the lack of trust , fear of conflict, lack of commitment, avoidance of personal accountability, and inattention to results. A must-read for teams that strive for optimum success.

The 1% Solution for Work and Life

by: Tom Connellan (Peak Performance Press) ISBN-13: 978-0-9769506-2-2

Feeling a bit discouraged about your life and work? Not getting as excited as you once were? You can change this by doing one small thing just 1% differently than you are right now. Sound easy? It's not, but if you do one small thing differently for thirty days, it becomes part of your available toolkit.

And, 1% plus 1% plus 1% adds up. Follow Ken on his journey as he meets and learns from six One-Percenters, people who have transformed their lives using the ideas shared in this book. Even if you're after just a small improvement, each chapter gives you ideas that you can adapt now. For me, my new 1% shift? No email in the morning until I have published something. I am on the path.

Just Do Your Best

by Chuck Harwood (Group Fare Productions) ISBN - 13:978-0881971019

In just 108 pages, the essence of performing successfully on your job is distilled and shared. In an out-of-the-ordinary management setting: a visit to a cattle ranch, Mr. Harwood identifies the five critical factors in job success.

Knowing your job well, and continuously improving what you know, is the first. The second factor is making good decisions. Enjoy attending the management meeting with the ranch employees - the daily lunch table at the ranch. Visit 15 additional workplaces he uses as examples for the five factors. Insightful, fun book.

Fish! A Remarkable Way to Boost Morale and Improve Results

by Harry Paul, Stephen C. Lundin, John Christensen (Hyperion) ISBN: 0786866020

Based on the fun-loving fishmongers at Seattle's Pike Place Market, a supervisor learns how to create an environment in which employees are excited to serve customers and each other. Find out how she transformed a toxic work environment!

The One Minute Manager

by Spencer Johnson, Kenneth H. Blanchard (Morrow/Avon) ISBN: 0688014291

Can several million people be wrong? Read the book that spawned the dynasty! Timeless tips for supervisors and others who want to increase their effectiveness with people. Learn how to catch people doing something right and the power of clear, understandable goals. Though deceptively simple, this is a great read!

Zapp! The Lightning of Empowerment

by William C. Byham (Development Dimensions International) ISBN: 0962348317

This continuing favorite may be hard to find but it's worth the search. Join a supervisor who is transported to a state in which he can suddenly "see" the real impact his actions have on whether staff is enabled to think, contribute, and find meaning in work. Experiment and learn with him as he changes.

Please Don't Just Do What I Tell You: Do What Needs to Be Done

by Bob Nelson (Hyperion) ISBN: 0786867299

Written directly for employees, the book has great tips about how to express individual initiative and self-empowerment at work. "Doing what you're told," no longer brings success for the individual or the organization - if it ever did! Everyone has the capacity to fulfill this "ultimate expectation." Share this book to help people find out how!

Gung Ho! Turn on the People in Any Organization

by Kenneth Blanchard, Sheldon Bowles (Morrow/Avon) ISBN: 068815428X

The story, told as a fable, provides a three-part strategy for motivating employees. Make sure people know why their work is important, give them control over how they do their jobs, and provide encouragement are the success factors. The story is told by a plant manager who learned these truths from a Native American manager.

The Peon Book

by Dave Haynes, Chief Executive Peon (Berrett-Koehler) ISBN: 1576752852

Not just a regular management book, written by an executive or a consultant, The Peon Book recommends you get the information you need to lead and manage people from the people you are trying to lead and manage. If all else fails, ask! What a concept!

Who Moved My Cheese?

by Spencer Johnson (Penguin Putnam, Inc.) ISBN: 0399144463

Explores positively approaching change through a parable populated by mice and "littlepeople," mouse-sized people. If you're an expert in change management , give it a chance; the book will make you smile and remind you of key change issues.

Others will find change management tips, real encouragement, and the sense that change is "doable." It's a book for everyone. Enjoy!

How to create a business plan for writers

Business plans for writers are valuable documents for setting, tracking and learning from goals and strategies for selling books. Read 9 steps for developing a thorough plan.

• Post author By Jordan
• 9 Comments on How to create a business plan for writers

The business of writing has as many moving parts as writing craft. This brief guide on how to create a business plan for writers will help you take steps to plan and adhere to SMART writing goals while keeping the business of writing (selling books and marketing your novels or non-fiction) firmly in mind.

What is a business plan for writers?

If you’ve ever watched a reality show about business investment such as the UK show Dragon’s Den (aired as Shark Tank in the US), you’ll know that start-ups that win big backing have one thing in common: a clear plan .

A classic business plan is:

• A comprehensive document stating future business objectives plus strategies for achieving them
• A guide to each stage of starting and/or managing a business over a future term used to record goals (and stay on track or rein in scope)
• A reference document to use towards measuring outcomes (for example, whether or not the goals in the plan were met, the strategies used, and how effective they were)

A good business plan goes hand in hand with other essentials: Knowing your niche, your value, and your target market . Make forming one an integral part of your story planning process .

Standard business plans vs business plans for writers

A business plan for writers differs from the type of plan a start-up would use to pitch investors:

• If you are an indie author (or hoping to become one), there will be less emphasis on proving your business case (its commercial viability). Your plan won’t need to convince investors to part with their cash in exchange for specific forecast returns (ROI)
• Your plan will feature aspects that are highly specific to the business of writing (such as book cover design and costs, editing, and other professional writing overheads)

Let’s explore 9 steps for building a business plan for a book or series:

9 steps to create a kickass writing plan for your business:

• Begin building your platform and audience.
• Brainstorm business-phase-specific writing goals.
• Prioritize goals by need, not wish.
• Create a living writing business plan.
• Itemize your planned expenses.
• Calculate what you need to sell to break even.
• Explore and choose strategies for selling.
• Create a compelling showcase for your brand.
• Measure results and adjust as you go.

Begin building your platform and audience

Why does building a platform/audience come first? Because it’s never too early to start connecting with others who may value, enjoy, and be willing to pay to further enjoy your voice.

Ways to build your writing platform:

• Create an author site that will be home to your future publications. To keep costs down you can use an all-in-one website design and hosting service such as Wix . Keep in mind that using designers and developers provides even more customization potential and design/functionality freedom, but may cost more.
• Blog about topics relevant to potential readers in your target audience.
• Create author pages on social media for sharing writing snippets, promo and news.
• Build a newsletter for your author site and offer giveaways (such as short stories or guides).
• Host or co-host webinars or lives on social media with other writers.

These are just some ideas.

Indie publishing expert Joanna Penn raises an important platform – building caveat . If you are in the early stages of writing a book, the types of platform available to you (and what is most popular with netizens) may have changed a lot by the time your book is out . (TikTok, for example, now hugely popular, was only started in 2016.)

Penn’s advice is to at least have a simple website with some form of email-gathering function. Email remains an effective way to spread the word about your newest and existing releases.

Brainstorm business-phase-specific writing goals

The first, proper step of creating a business plan for writers is to brainstorm goals specific to the phase of writing you’re in .

For example, if you’re working on your debut novel and are not yet published (traditionally or independently), your goals will likely look substantially different to a so-called ‘Midlist Author’ (an author who publishes consistently profitable books, but is not yet a publishing sensation landing seven-figure deals).

For midlist to top-tier authors, goals often focus on expansion oriented tasks such as speaking engagements or tapping new audiences by branching out into other genres or subgenres (for example, the way She-Who-Must-Not-Be-Named moved into writing thrillers as Robert Galbraith after her fantasy success). Now Novel writing coach Romy Sommer discusses tailoring strategy to your professional phase in our writing webinar on building a writing career.

Examples of goals specific to the current phase of your professional writing life might be:

• Finding and hiring a fiction editor for a recently completed draft
• Shortlisting agents open for queries who are interested in your genre and/or subject matter niche
• Creating a website that will provide a showcase and selling tool for your future publications

FINISH YOUR BOOK IN 6 MONTHS

Stay accountable, in a structured program with writing sprints, coach Q&As, webinars and feedback in an intimate writing group.

Prioritize goals by need, not wish

Once you’ve brainstormed a list of specific goals that may be relevant to your writing business plan, it’s time to finesse these down to the most important, SMART goals.

SMART goals are goals that are specific, measurable, attainable, realistic, and time-based.

Prioritize goals by their relevance to tangible objectives. For example, formatting your book for X platform by Y date.

These are more practical than ‘nice to haves’ that have hard-to-predict impact on finances. For example, ‘becoming a bestseller’ – a ‘bestseller’ after all may mean radically different sales numbers in different countries or genres.

Examples of SMART business plan goals for writers

‘Research and write a list of ten agents currently open to queries in my genre/subject matter and start querying next Monday’ is a SMART goal.

It’s relevant to a specific business phase (having a manuscript to publish, in this example, traditionally). It’s attainable, actionable, and time-based .

‘Become a bestselling author’ is not (there are too many variables and moving parts; it lacks specificity). This is not to say that big dreams are invalid or not worth holding! But … they’re the driving, desiring force behind a good business plan, not the main content.

What do you need to do most urgently to get to a point where you have books to sell to an audience that’s dying to read them?

Angela Ackerman, in a helpful article for Jane Friedman’s publishing blog on the first steps in creating a writing business plans, says:

Sometimes desire (wanting to be published right now, for example) can get in the way of what we actually need (to hone our craft further). To be objective, set emotion aside. Ask yourself hard questions about what your career really needs. Angela Ackerman, in ‘The 7-Step Business Plan for Writers’, via Jane Friedman’s blog.

Create a living writing business plan

So you’ve prioritized goals for the next six months to a year ahead. You’ve made sure they’re SMART and tailored to where you’re at now. The next step is to create a living business plan for your writing.

Why a ‘living’ plan? There are times in any strategic process such as selling your work where you may want to reflect on how things are going, what’s working, and what isn’t, and regroup.

Begin your plan with a mission statement. Try to keep this to a sentence or two at most. For example:

‘Hire a cover designer, editors and formatting professional for my urban fantasy debut, create author profiles on Goodreads, Amazon and Wattpad, and self-publish my book by next June.’

Create a checklist of action items or ‘jobs to be done’ for your plan, prioritized by urgency. The satisfaction of ticking off checklist items is great motivation.

Itemize your planned expenses

Whether you want to sell enough books in a year’s trade to quit your day job or just see how many copies you can sell if you are systematic, it’s important to tracks costs vs returns.

For example, for a typical 80,000 word genre fiction debut, you might create a table in your business plan that looks something like this:

Cover design and editing are essential if you want your book to stand out, and to do the utmost to win over first-time readers.

As in the table above, you may have expenses such as website hosting and design requiring further research, because there are just so many options. The same goes for turning your manuscript into an audiobook .

The promo spend of $150 above is based on the minimum daily spend for Instagram ads being $5 (assuming, for this example, that you wanted to pay to promote your indie book to a niche reader audience matching your genre on Instagram for 30 days).

The above example of costs is a rough example, of course. You may well find cover designers whose services cost less than a lower- mid-priced professional who has more experience. Ditto for editing (remember the caveat though: ‘You get what you pay for’). Having a good estimate of costs for your business plan (and replacing these with hard figures as quotes come in and you choose which to accept) will help you budget and work out what you need to sell to break even:

Calculate what you need to sell to break even

Going off the above table (which does only include copy-editing, and not a manuscript evaluation , developmental editing or proofreading, and leaves out other costs such as print copies), you would need to sell 2182 digital copies of your book at a promo price of $0.99 to earn back your (known) expenses, or 1086 copies at a launch/promo price of $1.99 per copy ($2160 of known expenses divided by your selling price and rounded up).

Having this figure is vital as it gives you an exact target for sales, as well as an idea of the sweet spot for promo pricing to at least recoup your expenses in the first push.

Will you sell your book cheaply to start for the sake of a lower barrier to entry for potential readers with whom you have not yet proven your entertainment value?

This is a particularly helpful strategy for selling a new series, as you can up your pricing for sequels.

As part of working out selling price and launch strategies, read publishing experts’ blogs and thoughts on the matter. Joanna Penn has a helpful article on the benefits of selling with platform exclusivity versus ‘going wide’ (selling on multiple platforms), for example.

Explore and choose strategies for selling

There are many platforms, models and strategies for selling your stories.

Long gone are the days of book chains, indie stores and physical libraries being the main way to find your favorite stories.

The mix of in-store and digital gives you many ways to promote your writing and find an audience that may be hungry for the exact themes, topics, and experiences your work explores.

Some selling strategies to explore and choose from to add to your growing business plan include:

• Platform-specific promo services (such as KDP Select , Amazon’s promotional program for authors willing to sign over exclusive publishing rights to their platform for 90 days)
• Book blog tours and giveaways (partnering with writing sites that have blogs to talk about your book – for example, we interview members who have new releases to share here on Now Novel)

If your marketing knowledge and experience is scant, it may be worth taking a book marketing course (remember to add this to the expenses portion of your writing business plan). Coursera is a fantastic resource for university-run short learning courses, and may help you grasp marketing fundamentals or how to use tools for understanding how to convert website visitors into customers/readers.

Create a compelling showcase for your brand

Many artists and writers are allergic to marketing terms such as ‘brand’. They tend to sound clinical, the kind of buzzwords that people throw out a mile a minute at conferences.

Yet branding is a helpful concept to think about as you create your writing business plan.

What is an author’s brand?

If you look at a major brand such as Nike’s advertising, a specific ‘brand persona’ becomes clear. Nike is all about the ‘mentor/coach’ archetype (from their slogan ‘Just Do It’ to their visual choices such as the tick-like swoosh logo), their brand is all about helping the customer reach their own potential.

An author brand differs in several ways (authors don’t have catchphrases or slogans, of course). Yet having a clear author brand can (like Nike) differentiate what is unique and wonderful about your work in a crowded bookshelf or marketplace. From cover design choices to titling, how you represent your work infers a certain tone and persona. In the podcast with Joanna Penn mentioned above, Penn shares that she’s interested in the spooky and how she shares pictures of eerie environs because she knows these appeal to a certain type of reader who would fall within her target audience – that’s a branding decision.

Ways to build showcasing your brand into your writing business plan

• Plan the language and tone of your newsletter and social media posts. If you write cozy mysteries, for example, what cozy language or mystery can you carry over into what you share?
• Plan how you’ll incorporate the emotion your writing intends to stir in readers into your visual design language , on your author site and social media. If you write bloodcurdling, violent fantasy, what color, typographical and other design choices will communicate what your writing is all about?
• Think about what types of promotions you could run that are on-brand . An author who writes ‘choose-your-own-adventure’ books like Goosebumps titles in this format could run a book giveaway contest where readers combine given elements to create their own flash fiction, for example, for a book giveaway.
• Create a calendar of images, quotes and videos to share that m atch the tone, mood, spirit and/or subjects of your stories.

Measure results and adjust as you go

In any business, it helps to be agile, able to pivot fast to let go of strategies not working or embrace newer methods or platforms that are well-aligned to your goals.

Make your business plan a living document that you review regularly and adjust as needed so that you factor in assessing, learning what worked and what didn’t, and coming back stronger.

Looking for professional fiction editing services or a writing coach to guide you through each stage of writing and querying? Now Novel offers companionship and a supportive network, every step of the way.

Further resources

Rick Lite has a helpful guide for IngramSpark for creating a book promo timeline.

Zara Altair at ProWritingAid provides helpful questions to ask in deciding your book’s value and price .

Are you making regular earnings on your books? What’s the one tip you’d give another writer on going pro? Let us know down below.

Related Posts:

• 10 useful apps for writers to help you create
• How to plan a story in scenes: 5 steps
• What is a plot point? Find and plan clear story events
• Tags book marketing , writing business , writing process

Jordan is a writer, editor, community manager and product developer. He received his BA Honours in English Literature and his undergraduate in English Literature and Music from the University of Cape Town.

9 replies on “How to create a business plan for writers”

Extremely helpful! Thank you, Jordan.

Hi Allorianna, thank you! I’m glad you found this helpful. See you in the next webinar 🙂

Jordan! Thanks a million! What a detailed and helpful post! I’ve bookmarked this!

Hi Michi, it’s a pleasure. Thanks for reading this and for sharing your feedback 🙂

Excellent follow-up to the webinar! Great tips. I will be printing out the 9 Steps graphic. Thanks for all your expertise.

Hi Billy, thank you for sharing your feedback – I’m glad you found this a helpful supplement to the webinar. It’s a pleasure, happy writing!

Thanks a lot for your work. Great article. Everything is very clear and understandable.

excellent writing and every thing is understandable

Dear Asif, I’m so pleased you found this useful! Thanks for writing in. All the best with your writing.

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Pitch Deck VS. Business Plan: What is the Difference

• May 8, 2024

Pitch deck or a business plan—confused about which of these business documents you should create for your business?

Well, the short answer is both.

But, in a thriving startup world, where time’s a chase, knowing what will help you to make the most significant impact will make the choice easier.

Through this blog post, let’s help you understand the key differences between these two documents, i.e. pitch deck vs business plan , and instances when you will need them.

Ready to get started? Let’s dive right in.

What is a pitch deck?

A pitch deck is a concise visual presentation, often used by startups and emerging entrepreneurs, to introduce their business potential in front of investors and potential stakeholders.

These presentations explain the key details of your plan such as the problem, solution, revenue model, traction, financials, and organizational team through engaging visuals and simple text blocks.

Pitch decks hook the audience to your excellent business idea and persuade them to engage further or take action.

Pitch decks are important for a quick business introduction. But let’s now gather a basic overview of what a business plan is.

What is a business plan?

A business plan is a professional document outlining the goals, strategies, and operational aspects of your business. It serves as a guide for decision-making and offers a roadmap to achieve your business objectives.

Business plans, in general, include key components like executive summary, company overview, market analysis, products and services, marketing and sales strategy, operation plan, management team, and financial plan.

It’s one detailed document that will help you to secure funds from potential investors.

Now, that you have gathered a fair understanding of pitch decks and business plans, let’s understand what makes them different.

Difference between a pitch deck and a business plan

Pitch decks are crisp offering a macro overview of your business idea through sharp and remarkable visuals. Business plans, on the other hand, are immaculately detailed, offering a micro overview of what your business does and where it aims to reach.

Well, the differences between a business plan and a pitch deck are fundamental and we will now explore those differences in detail.

Pitch decks serve the purpose of familiarizing the audience with your business idea in a short time. They capture the audience’s attention, spark excitement about a business idea, and help you secure further discussions and meetings with potential investors.

Business plans, on the other hand, offer an in-depth detailing of your business framework, financial projections, and strategic objectives. They are required by banks to grant loans, investors to evaluate the business’s viability, and internally to guide the management and operations.

2. Length and Format

A slide deck is precise and concise. It summarizes your entire business idea within 10-15 slides, and sometimes even less.

These business documents are heavier on visual components. Instead of paragraphs, the important information is usually conveyed through crisp statements and bullet points.

Business plans, however, are extremely detailed and lengthy. While the length of a typical traditional plan varies between 20-100 pages, a startup business plan in a lean format can be as small as 1-2 pages.

These professional documents are heavier on text and include tables and charts to support the textual content. The design is kept minimal and professional and the information is organized neatly into digestible sections.

A pitch deck includes high-value information summarizing only the key aspects of your business plan. They focus more on the problem and the solution, revenue model, traction, competitive advantage, and key financial metrics of your business.

Such presentations also include your funding demand and are pretty straightforward in terms of content.

Business plans, however, provide extensive information detailing your business idea, strategies, resources, financials, and even the assumptions and justifications.

Generally, a comprehensive business plan includes an executive summary followed by a detailed description of the business, market analysis, products and services, marketing and sales strategies, operations, management, and financials.

However, one can adjust the contents and details of a business plan depending on their objective to write a business plan .

4. Audience

Pitch decks are essentially prepared to pitch to investors and venture capital firms for equity funding. However, that’s not it.

The very purpose of a business pitch deck is to educate the people about your business idea and stir their interest. So anyone who wants to acquaint themselves with the core fundamentals of your business in a short time is an ideal audience for a pitch deck.

Similarly, a business plan is also intended for a vast audience, including but not limited to, loan officers, investors, stakeholders, and the company’s internal team.

In fact, anyone who wants to have a deep, thorough insight into your business’s strategies, policies, operations, and finances can benefit from reading your business plan.

And those are the most fundamental differences between a pitch deck presentation and a business plan. However, let’s now understand different instances when you will require these business documents.

When to use a Pitch Deck?

A pitch deck offers a snapshot of your business and is most suitable for situations, events, and audiences that prefer to gather a level of information within a short span.

Here are a few instances where you would definitely require a business pitch deck:

• When you want to introduce your startup idea at investor meet-ups, networking events, and accelerator programs.
• When you want to get initial equity funding from investors and VC firms.
• When you want to secure an in-person meeting with an investor.

However, for all this to happen, you need a pitch deck that brilliantly captures the key essence of your business.

Well, it’s not that easy. From design to content—it takes a lot to create a 10-page, compelling pitch deck.

You must have figured out that creating a pitch deck is challenging given the crispness, conciseness, and briefness it requires.

Not anymore. You can now use AI to create your strategic pitch decks from scratch, requiring zero designing.

 Ditch your old-school pitch deck creation methods

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When to use a Business Plan?

A well-mapped business plan is an asset that will take your business to quite a few places helping you realize your business goals. If you are wondering where will you require a business plan, here you go:

• When you want significant funding from potential investors.
• When you want to validate your business idea.
• When you want to plan for subsequent business stages that require a strategic roadmap.
• When you want to explain your complex business model.

Now, a business plan can only help achieve all those things when it offers a true and realistic overview of your business and its strategies.

Absolutely, it’s a difficult task. But with the right tools and aid, you can create a realistic plan that offers a roadmap to success for your business.

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What to Write First—Business Plan or Pitch Deck

Ideally, a business plan should be drafted before creating a pitch deck.

The business plan demands thorough analysis and research. Writing it first will encourage you to explore the business nuances in detail.

You are more in sync with your business idea and its strategies by the time you are done writing your business plan. Such understanding is essential to creating a pitch deck that reflects your startup’s potential in a true light.

A Way Forward

It’s evident that you need both—a business plan and a pitch deck, to venture successfully into your market. Instead of contemplating, let’s make business planning easier for you.

Upmetrics offers a range of AI-powered solutions for all your business and strategic planning needs.

Whether you need an AI business plan generator to create a thorough business plan or AI pitch deck generator for a compelling pitch deck—Upmetrics has got you covered.

No need to spend any more time worrying about where and how to get started. Our perfectly designed solutions will guide you to create stellar business documents in no time.

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Frequently Asked Questions

Is a pitch similar to a business plan.

Not really. Business plans are textual offering a detailed overview of your business idea. Pitch decks, however, are concise and visual. It can be said that pitch decks are a byproduct of business plans. However, they are not the same.

When should you use a business plan?

Business plans should be used when you want to obtain financing from traditional banks. However, even angel investors would ask for a business plan when the funding demand is substantial. Apart from this, you use a business plan for strategic planning and internal guidance.

When should you use a pitch deck?

Pitch decks should be used to introduce your business idea to different audiences. It is extensively used to pitch potential investors and persuade them for financing.

Do I need a pitch deck or a business plan?

A business requires both a pitch deck and a business plan. It is preferable to write a business plan first before creating a pitch deck to capture the essence of your business effectively.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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UMC Wednesday updates: United Methodists remove ban on LGBTQ+ clergy

CHARLOTTE, N.C. — With three days remaining at the United Methodist Church’s top policymaking assembly, the 700-plus delegates from across world are set to take up the most contentious legislative proposals starting Wednesday.

The most high-profile of those proposals facing the UMC General Conference in Charlotte deal with LGBTQ+ rights and likely an expired policy allowing United Methodist churches to leave the denomination, also known as disaffiliation.

The UMC, which is the nation’s largest mainline Protestant denomination, has dealt with a splintering following disagreements over church policy and theology, including dealing with LGBTQ+ rights. A quarter of the denomination’s total U.S. churches disaffiliated between 2019-2023, many to join a more conservative breakaway denomination called the Global Methodist Church.

A policy allowing churches to disaffiliate expired at the end of 2023 , so traditionalists are supporting legislative efforts at this UMC General Conference to extend and expand the disaffiliation policy. Delegates have so far supported a legislative priority commonly called “regionalization,” which many consider a counter to disaffiliation.

The assembly is also expected to take up additional proposals , called petitions, seeking to remove anti-LGBTQ+ restrictions.

Follow along for live updates.

Yesterday's UMC news: UMC live updates: United Methodists take first steps toward removing LGBTQ+ restrictions

What lifted ordination ban means for one Ohio pastor

For Ohio pastor Rev. Angie Cox, there are immediate and tangible implications with the newly lifted ban on ordaining LGBTQ+ clergy. Cox, a lesbian and married, has sought to take the first step toward UMC ordination, called commissioning, six times in the past five years. Each time, the West Ohio Conference’s board of ordained ministry has rejected her candidacy.

“I know I’m called to ministry and know I’m called to be here,” Cox said in an interview. The decision to remove the ban on LGBTQ+ ordination is “an affirmation of the call by our official policies,” Cox said.

Cox already pastors a church in Columbus, but her inability to receive ordination credentials is both a symbolic gesture against her personhood and a limit on her participation in United Methodist life.For example, she's barred from serving as a clergy delegate in the regional legislative assembly or at the UMC General Conference.

The West Ohio Conference board of ordained ministry could reconsider supporting Cox's commissioning as early as May, potentially positioning her for commissioning in June. Similar to her situation, Cox knows others who have waited to pursue ordination until the UMC removed the ordination ban.

Cox said her sexuality has always been the “elephant in the room” in her repeated pursuit of candidacy for commissioning.

With Wednesday’s decision to remove the ordination ban, “there’s an aspect of people finally seeing the goodness in the whole person,” said Cox. “Not just me, but for any LGBTQ+ person to finally be seen as whole in official structures is freeing."

Last regionalization petition passed, finalizing full legislation restructuring of church

The one outstanding petition to finalize legislation seeking to restructure the United Methodist Church's system of regional oversight received approval Wednesday, marking a major milestone for the denomination’s top legislative assembly.

The 700-plus delegates approved all eight regionalization-related petitions starting last week, when the body voted on a constitutional amendment that still requires ratification by United Methodist regional conferences.

The last regionalization-related petition spurred a brief yet passionate debate, a display of broader divisions that regionalization inevitably brought out.

Progressives and many centrists supported regionalization, while traditionalists opposed the plan. Part of that divide is related to regionalization’s potential to allow the American church to move in a more LGBTQ-affirming direction, while allowing regional bodies outside the U.S. to maintain more traditional policy positions.

“You can have your train, you can ride your train and go where you go,” said Liberian delegate Jerry Kulah during a floor debate Wednesday, speaking against the regionalization petition. “Regionalization is only a platform to strengthen the American UMC.”

Conversely, proponents of the legislation say regionalization elevates the status of and gives more autonomy to regional United Methodist bodies outside the U.S.

Regionalization in essence eliminates a regional hierarchy that the Methodist church originally created in 1939 to racially segregate Black clergy and laity in the U.S. from the white population,  according to the UMC General Commission on Archives & History .

Before taking up the last regionalization petition, delegates approved a new policy that allows churches that disaffiliated from the UMC to rejoin the denomination.

Disaffiliation policy lifted in final blow to splintering

Delegates approved a petition removing a section of the UMC Book of Discipline allowing churches to disaffiliate, settling a high-profile debate and in many ways the denomination’s splintering.

The policy allowing churches to disaffiliate, often called Paragraph 2553, received approval in 2019 and expired in 2023. But the official language of the policy remained in the denomination’s compendium of policies and practices. Wednesday’s petition removed that existing language.   

“(Paragraph) 2553 has been a wrenching experience for the church,” said Lonnie Chaffin in an address to delegates, presenting the petition on behalf of an administrative committee. “Congregations have been in conflict, conferences have had to divert attention away from our mission and spent considerable time and energy on disaffiliation.”

Disaffiliations — there were ultimately 7,500-plus U.S. congregations that left the denomination using this policy — led to court battles between churches and regional United Methodist leadership, and split church membership when a congregational vote didn’t go a certain way.  

Disaffiliation was the major legislative priority that traditionalist groups and leaders sought to advocate for at this UMC General Conference, a shift from their typical lobbying for policies dealing with sexuality and marriage.

A petition submitted to the UMC General Conference sought to expand Paragraph 2553 for churches outside the U.S., which were barred from disaffiliating. But the decision on Wednesday to remove Paragraph 2553 altogether yielded the opposite result.

Pension-based retirement plan replaced

In yet another sign of the downward trends affecting the UMC, general conference delegates approved on Wednesday a new clergy retirement plan that replaces a pension-based system to a contribution-based one.  

Instead of churches being solely responsible for contributing to a clergy’s retirement savings, the new plan shifts some of that burden to the clergy.

“A defined benefit, a pension the risks are on the church completely,” said Andrew Hendren, chief executive of Wespath, which is the United Methodist retirement and benefits agency, in a presentation to delegates on Monday. “In an account-balanced plan, the participant bears some of the investment returned risk.”  

Wespath’s proposal to mothball the pension-based system follows declining membership in UMC churches due to shrinking and aging membership, a phenomenon compounded by the recent wave of disaffiliations.  

“There are fewer church members to support the pensions supporting retired pastors,” said Hendren in his presentation to the delegates. “To make these plans sustainable for the long-term, we need to shift to a different design.”

The new retirement plan only affects future retirees, not those who already on a pension plan.

Though in different ways, declining membership and church giving is affecting other United Methodist agencies . A proposed budget to the UMC General Conference would drastically cut funding for 10 UMC agencies. The assembly will vote on the proposed budget Friday.

Emotional celebration breaks out following removal of ban on LGBTQ+ clergy

A large crowd spontaneously broke out in celebration on Wednesday following the UMC General Conference’s decision to remove a 40-year-old ban on LGBTQ+ clergy.

Delegates and observers, including people who identify as LGBTQ+ and their allies, embraced each other across a fence and sang hymns. Many in the crowd, including a few United Methodist bishops, were tearful as the crowd sang, drawing an increasingly large group of spectators.  

United Methodist Church removes ban on LGBTQ+ clergy

The United Methodist Church struck down a 40-year-old ban on LGBTQ+ clergy Wednesday morning, the most pivotal step the denomination’s legislative assembly has taken so far toward LGBTQ+ inclusion.

In addition to two other petitions aimed at removing anti-LGBTQ+ restrictions, the UMC General Conference approved as part of a consent calendar an amended policy that previously barred “self-avowed practicing homosexuals” from ordination. The three petitions that received swift approval early Wednesday followed nine other LGBTQ+ inclusion-related petitions the 700-plus delegates approved on Tuesday.

Originally implemented in 1984, the ban on LGBTQ+ ordination encapsulated the broader conversation about LGBTQ+ rights in the nation’s largest mainline Protestant denomination. The specific policy was central to an intensified debate in 2016 that eventually led to the exodus of mostly conservative churches out of the UMC.

In 2016, more than 100 United Methodist clergy came out as LGBTQ+ in a joint letter and then Colorado Bishop Rev. Karen Oliveto became the first (of eventually two) openly gay United Methodist bishop.  More regional conferences in the U.S. also began ordaining openly LGBTQ+ clergy, a decision left to those regional conferences’ delegates.  

Another petition in Wednesday’s consent agenda adds a policy barring local UMC officials from penalizing clergy or churches for blessing same-sex unions. But that change isn’t the same as removing the prohibition on clergy and churches blessing same-sex unions. A petition seeking to remove the latter is set for a floor debate potentially later Wednesday. 

Liam Adams covers religion for The Tennessean. Reach him at [email protected] or on social media @liamsadams.

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How to Write a Business Plan Eleventh Edition

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Write a business plan that potential investors will embrace!

If you're thinking of starting a business or raising money to expand an existing one, you need a plan. Running a successful business requires a great deal of forethought, so write a business plan and secure your venture's future. How to Write a Business Plan will show you how to write the right plan for your business and design a loan package necessary to finance your business and make it work.

With this bestselling all-in-one guide you'll learn how to: . figure out if your business idea will make money . estimate operating expenses . prepare cash flow . create profit and loss forecasts . determine assets, liabilities, and net worth . find potential sources of financing . think first before borrowing from friends and relatives, and . professionally present your plan to lenders and investors How to Write a Business Plan provides spreadsheets that help you determine and forecast cash flow, financial statements, sales revenue, and profit and loss. It also provides three sample business plans you can modify for your own use.This edition is completely updated, providing all-new online resources and updated examples of successful business plans.

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• ISBN-10 1413317499
• ISBN-13 978-1413317497
• Edition Eleventh
• Publisher NOLO
• Publication date September 17, 2012
• Language English
• Dimensions 7.07 x 0.93 x 9.03 inches
• Print length 274 pages
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"Here’s an easy-to-follow book that takes the reader step-by-step to get to a successful business start-up." -- San Francisco Examiner

About the Author

Mike McKeever has a B.A. in Economics from Whittier College, a Master’s in Economics from the London (England) School of Economics and has done post-graduate work in financial analysis at the USC Business School. Mike has taught classes at numerous community colleges in entrepreneurship and small business management. He has published articles on entrepreneurship for Dow Jones publications, the Sloan Publications Business Journal and numerous newspapers and periodicals. Mike runs a company, Business Plan Workshop, in which his business plan book features prominently.

Product details

• Publisher ‏ : ‎ NOLO; Eleventh edition (September 17, 2012)
• Language ‏ : ‎ English
• Paperback ‏ : ‎ 274 pages
• ISBN-10 ‏ : ‎ 1413317499
• ISBN-13 ‏ : ‎ 978-1413317497
• Item Weight ‏ : ‎ 1.15 pounds
• Dimensions ‏ : ‎ 7.07 x 0.93 x 9.03 inches
• #573 in Franchising Law (Books)
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• #6,436 in Small Business (Books)

About the author

Mike p. mckeever.

Mike P. McKeever has a B.A. in Economics from Whittier College, a Master of Science in Economics from the London (England) School of Economics and has done post-graduate work in financial analysis at the USC Business School. Currently, Mike is an Economics Professor at City College of San Francisco. Previously, he had taught classes at numerous community colleges in entrepreneurship and small business management. Author of How to Write a Business Plan, he has published articles on entrepreneurship for Dow Jones publications, the Sloan Publications Business Journal and numerous newspapers and periodicals.

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Pulitzer Prizes: 2024 Winners List

Here is the full list of winners and finalists.

By The New York Times

PUBLIC SERVICE

The Pulitzer committee honored ProPublica for the work of Joshua Kaplan, Justin Elliott, Brett Murphy, Alex Mierjeski and Kirsten Berg, citing their “groundbreaking and ambitious reporting that pierced the thick wall of secrecy surrounding the Supreme Court.”

Finalists KFF Health News and Cox Media Group; The Washington Post

BREAKING NEWS

Staff of Lookout Santa Cruz

Lookout Santa Cruz won for “its detailed and nimble community-focused coverage, over a holiday weekend, of catastrophic flooding and mudslides that displaced thousands of residents and destroyed more than 1,000 homes and businesses.”

Finalists Staff of Honolulu Civil Beat; Staff of The Los Angeles Times

INVESTIGATIVE REPORTING

Hannah Dreier of The New York Times

Ms. Dreier was honored for “a deeply reported series of stories revealing the stunning reach of migrant child labor across the United States — and the corporate and governmental failures that perpetuate it.”

Finalists Staff of Bloomberg; Casey Ross and Bob Herman of Stat

EXPLANATORY REPORTING

Sarah Stillman of The New Yorker

Ms. Stillman’s work was a “searing indictment of our legal system’s reliance on the felony murder charge and its disparate consequences, often devastating for communities of color,” the committee said.

Finalists Staff of Bloomberg; Staffs of The Texas Tribune, ProPublica and Frontline

LOCAL REPORTING

Sarah Conway of City Bureau and Trina Reynolds-Tyler of the Invisible Institute

Ms. Conway and Ms. Reynolds-Tyler were honored for “their investigative series on missing Black girls and women in Chicago that revealed how systemic racism and police department neglect contributed to the crisis.”

Finalists Jerry Mitchell, Ilyssa Daly, Brian Howey and Nate Rosenfield of Mississippi Today and The New York Times; Staff of The Villages Daily Sun

NATIONAL REPORTING

Staff of Reuters and Staff of The Washington Post

This year’s national reporting category had two winners. The staff of Reuters won for “an eye-opening series of accountability stories” focused on the automobile and aerospace businesses helmed by the billionaire Elon Musk. The staff of The Washington Post won for “its sobering examination of the AR-15 semiautomatic rifle.”

Finalists Bianca Vázquez Toness and Sharon Lurye of The Associated Press; Dave Philipps of The New York Times

INTERNATIONAL REPORTING

Staff of The New York Times

The New York Times won for its “wide-ranging and revelatory coverage of Hamas’ lethal attack in southern Israel on Oct. 7 , Israel’s intelligence failures and the Israeli military’s sweeping, deadly response in Gaza,” the committee said.

Finalists Julie Turkewitz and Federico Rios of The New York Times; Staff of The Washington Post

Feature writing

Katie Engelhart, contributing writer, The New York Times

Ms. Engelhart was honored “for her fair-minded portrait of a family’s legal and emotional struggles during a matriarch’s progressive dementia .” Her article “sensitively probes the mystery of a person’s essential self,” the committee said.

Finalists Keri Blakinger of the Marshall Project, co-published with The New York Times Magazine; Jennifer Senior of The Atlantic

Vladimir Kara-Murza, contributor, The Washington Post

The committee highlighted Mr. Kara-Murza’s “passionate columns written at great personal risk from his prison cell, warning of the consequences of dissent in Vladimir Putin’s Russia and insisting on a democratic future for his country.”

Finalists Brian Lyman of The Alabama Reflector; Jay Caspian Kang of The New Yorker

Justin Chang of The Los Angeles Times

Mr. Chang’s film criticism “reflects on the contemporary moviegoing experience,” the committee said, praising it as “richly evocative and genre-spanning.”

Finalists Zadie Smith, contributor, The New York Review of Books; Vinson Cunningham of The New Yorker

EDITORIAL WRITING

David E. Hoffman of The Washington Post

Mr. Hoffman was honored for his “compelling and well-researched series on new technologies and the tactics authoritarian regimes use to repress dissent in the digital age and how they can be fought.”

Finalists Isadora Rangel of The Miami Herald; Brandon McGinley and Rebecca Spiess of The Pittsburgh Post-Gazette

Illustrated Reporting and Commentary

Medar de la Cruz, contributor, The New Yorker

Mr. de la Cruz was honored for “his visually driven story set inside Rikers Island jail using bold black-and-white images that humanize the prisoners and staff through their hunger for books.”

Finalists Clay Bennett of The Chattanooga Times Free Press; Angie Wang, contributor, The New Yorker; Claire Healy, Nicole Dungca and Ren Galeno, contributor, of The Washington Post

BREAKING NEWS PHOTOGRAPHY

Photography Staff of Reuters

The photography staff won for “raw and urgent photographs documenting the Oct. 7 deadly attack in Israel by Hamas and the first weeks of Israel’s devastating assault on Gaza.”

Finalists Adem Altan of Agence France-Presse; Nicole S. Hester of The Tennessean

FEATURE PHOTOGRAPHY

Photography Staff of The Associated Press

The journalists were honored for “poignant photographs chronicling unprecedented masses of migrants and their arduous journey north from Colombia to the border of the United States.”

Finalists Nanna Heitmann, contributor, The New York Times; Hannah Reyes Morales, contributor, The New York Times

AUDIO REPORTING

Staffs of the Invisible Institute and USG Audio

The two newsrooms won for a “powerful series that revisits a Chicago hate crime from the 1990s, a fluid amalgam of memoir, community history and journalism.”

Finalists Dan Slepian and Preeti Varathan, contributor, of NBC News; Lauren Chooljian, Alison Macadam, Jason Moon, Daniel Barrick and Katie Colaneri of New Hampshire Public Radio

“Night Watch,” by Jayne Anne Phillips

Ms. Phillips won for her “beautifully rendered novel set in West Virginia’s Trans-Allegheny Lunatic Asylum in the aftermath of the Civil War where a severely wounded Union veteran, a 12-year-old girl and her mother, long abused by a Confederate soldier, struggle to heal.”

Finalists “Wednesday’s Child,” by Yiyun Li; “Same Bed Different Dreams,” by Ed Park

“Primary Trust,” by Eboni Booth

The committee described Ms. Booth’s play “Primary Trust” as a “simple and elegantly crafted story of an emotionally damaged man who finds a new job, new friends and a new sense of worth, illustrating how small acts of kindness can change a person’s life and enrich an entire community.”

Finalists “Here There Are Blueberries,” by Moises Kaufman and Amanda Gronich; “Public Obscenities,” by Shayok Misha Chowdhury

“No Right to an Honest Living: The Struggles of Boston’s Black Workers in the Civil War Era,” by Jacqueline Jones

Ms. Jones was awarded for her “original reconstruction of free Black life in Boston that profoundly reshapes our understanding of the city’s abolitionist legacy and the challenging reality for its Black residents.”

Finalists “Continental Reckoning: The American West in the Age of Expansion,” by Elliott West; “American Anarchy: The Epic Struggle Between Immigrant Radicals and the U.S. Government at the Dawn of the Twentieth Century,” by Michael Willrich

“King: A Life,” by Jonathan Eig, and “Master Slave Husband Wife: An Epic Journey From Slavery to Freedom,” by Ilyon Woo

Two awards were given in this category. Mr. Eig was honored for “a revelatory portrait of Martin Luther King, Jr. that draws on new sources to enrich our understanding of each stage of the civil rights leader’s life.”

Ms. Woo was honored for her narrative of the Crafts, “an enslaved couple who escaped from Georgia in 1848, with light-skinned Ellen disguised as a disabled white gentleman and William as her manservant.”

Finalists “Larry McMurtry: A Life,” by Tracy Daugherty

MEMOIR OR AUTOBIOGRAPHy

“Liliana’s Invincible Summer: A Sister’s Search for Justice,” by Cristina Rivera Garza

The committee called Ms. Rivera Garza’s work “a genre-bending account of the author’s 20-year-old sister,” who was murdered by a former boyfriend. It “mixes memoir, feminist investigative journalism and poetic biography stitched together with a determination born of loss,” the committee said.

Finalists “The Country of the Blind: A Memoir at the End of Sight,” by Andrew Leland; “The Best Minds: A Story of Friendship, Madness and the Tragedy of Good Intentions,” by Jonathan Rosen

“Tripas: Poems,” by Brandon Som

Mr. Som’s work is “a collection that deeply engages with the complexities of the poet’s dual Mexican and Chinese heritage, highlighting the dignity of his family’s working lives, creating community rather than conflict,” the committee wrote.

Finalists “To 2040,” by Jorie Graham; “Information Desk: An Epic,” by Robyn Schiff

GENERAL NONFICTION

“A Day in the Life of Abed Salama: Anatomy of a Jerusalem Tragedy,” by Nathan Thrall

The committee honored Mr. Thrall for his “finely reported and intimate account of life under Israeli occupation of the West Bank, told through a portrait of a Palestinian father whose 5-year-old son dies in a fiery school bus crash when Israeli and Palestinian rescue teams are delayed by security regulations.”

Finalists “Cobalt Red: How the Blood of the Congo Powers Our Lives,” by Siddharth Kara; “Fire Weather: A True Story From a Hotter World,” by John Vaillant

“Adagio (For Wadada Leo Smith),” by Tyshawn Sorey

Mr. Sorey’s saxophone concerto has “a wide range of textures presented in a slow tempo, a beautiful homage that’s quietly intense, treasuring intimacy rather than spectacle,” the committee said.

Finalists “Paper Pianos,” by Mary Kouyoumdjian; “Double Concerto for esperanza spalding, Claire Chase and large orchestra,” by Felipe Lara

Special citations

The writer and critic Greg Tate was honored posthumously for his influence in shaping public thought and language around hip-hop and street art. “His aesthetic, innovations and intellectual originality, particularly in his pioneering hip-hop criticism, continue to influence subsequent generations, especially writers and critics of color,” the committee wrote.

Journalists and Media Workers Covering the War in Gaza

“Under horrific conditions, an extraordinary number of journalists have died in the effort to tell the stories of Palestinians and others in Gaza,” the committee wrote. “This war has also claimed the lives of poets and writers among the casualties. As the Pulitzer Prizes honor categories of journalism, arts and letters, we mark the loss of invaluable records of the human experience.”

How to Write a Property Management Business Plan (Free Template)

If you’re looking to start a property management business, you’ve come to the right place. The success of property management companies—or any companies, for that matter—absolutely depends on first creating a well-researched and thorough business plan .

Luckily, this guide aims to help you do just that. First, we’ll explain what a property management business plan encompasses, why you need one, and tips for going about it the right way. Then, we’ll walk you through the recommended business plan outline step-by-step and share details of what to include in each section.

Finally, we’ll send you off with a free template you can download and update with your business’s own information. Creating a business plan was never so easy!

Let’s dive in.

Don’t see the form to download our free property management business plan template? Click here .

What is a property management business plan?

A property management business plan is a document that summarizes your property management business: its current operations, goals for the future, strategies for achieving those goals, and other supporting details.

While you’ll want to create your business plan before launching your businesses, it’s not a one-and-done document. Instead, you should update it yearly and after major company and industry changes.

Why do you need a property management company business plan?

Whether you’re looking to start a new property management company or grow your existing one, you’re probably eager to get started. But while it can feel productive to hit the ground running, a business plan is crucial to drive your strategy and decision-making . It will serve as a roadmap you can refer back to as you get started and grow your business.

Moreover, business plans are also crucial as tools to help sell your property management agency to potential partners, investors, and banks . There’s no point in asking for their support if you can’t show you know what you’re doing, and business plans are one of the best ways to do that.

Finally, beyond mere financial gains, a thorough property management business plan enables you to measure your success accurately and pinpoint areas for improvement . It empowers you to zero in on critical indicators like your budget, local market insights, and expansion opportunities.

How do you write a property management business plan?

Do your research first.

It’s easy to spot the differences between a well-researched business plan and one that was written haphazardly. And those differences will be just as easy to mark in the results your business sees once it’s up and running.

Tailor it to your type of property management business

Chances are, you’re going to start your business plan from a standard template. There’s nothing wrong with that. In fact, it’s recommended, and we provide a free property management business plan template at the end of this article, if you’re still looking for one.

However, as you fill in your information, be sure to tailor your plan to your specific business. For example, what type of properties does your business manage? Common types of property management include:

• Residential rental property management , including both single-family and multifamily residences
• HOA property management , which typically involves working directly with homeowners’ associations
• Commercial property management , including office, retail, and industrial buildings
• Vacation rental property management , involving managing vacation rentals such as Airbnbs for their owners

Remember your goals

You might wonder whether you really need to include this much detail in your business plan, but remember what you’re hoping to achieve. And we don’t just mean a successful property management agency, but the specific things you’ll use your business plan for.

For example, if you’re hoping to find a partner for your business, your prospects will certainly appreciate a high level of detail in your operations plan. Similarly, potential investors will want to see solid financials.

Use a property management business plan template

Finally, don’t make it harder for yourself than you have to! You’re already going to have to do a significant amount of research, calculations, and brainstorming. Make it easier for yourself by starting with a template you can input specifics to, like the one pictured below:

Don’t have a template already? Scroll to the bottom of the article to download ours!

What is the outline of a property management plan?

Business plans, whether for property management or other industries, tend to follow this standard format:

Executive summary

Company overview, market analysis, marketing plan, operations plan, management team, financial plan, growth opportunities.

Keep reading for more information on what to include in each section. Or scroll to the bottom of the page to download our business plan template for property management and get started.

What to include in a business plan for property management

Your business plan should begin with an executive summary. This section serves as an introduction to both your business plan and your business , and should include information such as:

• The type of property management you plan to do
• How far along your business is
• Your target market
• Your strategy for achieving these goals

Depending on how thorough you want to be, you could even include a brief overview of every section of your business plan. Your goal should be to give a snapshot of your business that compels your readers—whether they be potential partners, investors, or banks—to finish reading your plan.

Pro tip: Because your executive summary needs to sum up your overall business plan, it’s often easiest to write it last. That way, you’ll have all the details ironed out and won’t forget to include anything.

In this section, you’ll give an overview and analysis of your property management company itself.

To start, explain how your company got started and which of the property management niches we explained above you fit into. You’ll also want to share your legal business structure (for example, sole proprietorship, LLC, C corporation, or S corporation).

The majority of this section, however, should be devoted to your competitive differentiators. What core competencies are you bringing to the market?

A market analysis isn’t only an important addition to your business plan. It’s also absolutely essential that you understand your market inside and out before you even consider launching a property management agency.

To be as thorough as possible, make sure that your market analysis includes specific analyses of your industry, target customers, and competitors.

Industry analysis

Provide an overview of your specific niche of the property management industry. Include as much detail as you can to help you become an expert in your industry, such as:

• Market size (in dollars)
• History of the industry
• Prospected growth

Customer analysis

Who are your target customers? Start with your property management niche, and then get even more specific:

• Residential rental property management → Will you target single-family or multifamily residences? Apartment buildings or individual homes? Affordable housing or high-end residences?
• HOA property management → Do you have specific HOAs in mind?
• Commercial property management → Will you manage office, retail, or industrial buildings?
• Vacation rental property management → Do you want to work with a specific type of vacation rental property or owner?

Be sure to include your target customers’ specific needs, goals, and any other information you can find to build a robust profile. The more detailed you can be, the easier it will be to target them with your services!

Competitive analysis

This is where you analyze your competitors, both direct and indirect:

• Your direct competitors include other property management companies in the same niche as you. These companies will likely be located nearby as well.
• Your indirect competitors include other options your customers have outside of property management agencies. This might include property owners who decide to manage their properties themselves, in-house managers, and even automated tools that claim to take the place of property managers.

After identifying the competition, you’ll want to provide additional information about your direct competitors. Who are their target customers? What services do they offer, and how much do they charge?

Gather as much information as you can, and then perform a SWOT (strengths, weakness, opportunities, and threats) analysis to identify potential competitive advantages. Your goal is to determine how you’ll outperform your competitors—whether via superior or additional services, lower prices, greater efficiency, or something else.

Remember: If you can’t identify any clear competitive advantages, your customers won’t be able to, either.

So, you have superior property management services at competitive rates. But how do you plan on getting in front of your target customers?

This is where your marketing plan comes in. Think about what marketing channels you’ll use, prioritizing those which will best reach your target customers. Consider both online and offline marketing, including the following options:

• Business cards
• Advertising in local newspapers and relevant magazines
• SEO marketing
• Email marketing
• Social media marketing
• Paid advertising

Creating your business plan has forced you to set some specific goals. How do you plan on meeting them?

This is exactly what your operations plan sets out to cover, with details on both short- and long-term processes.

Your short-term processes will include everything involved in the day-to-day running of your property management business . Again, these tasks will vary drastically depending on your property management niche. However, the following questions are a good starting point:

• Who will be in charge of running the business?
• Do you need to hire any additional staff? If so, how many people and for which roles?
• How will you structure your team?
• What are your service standards?
• Which manuals will you need to develop?
• What property management software will you use?

Once you’ve defined your daily operations, take a step back and think long-term. At any point in your business’s trajectory, do you plan to:

• Hire additional employees?
• Reach a certain sales figure?
• Grow your portfolio?
• Expand to a new location?

Having these long-term goals documented will not only show potential partners and investors that you’re thinking about the future. It will also give you something to refer back to in order to measure your progress.

Your property management business will only be as strong as the team leading it. So, once you’ve assembled the dream team, you’ll want to highlight its strengths in your business plan, paying specific attention to each member’s background, skills, and relevant experience.

If no one on your management team has property management or real estate experience, or your team is lacking in any way, it might be worthwhile to put together an advisory board. This board consists of a handful of mentors who have the experience necessary to guide your business in the right direction (and reassure any potential investors).

And now for everyone’s favorite part: the financial plan.

Specifically, your financial plan should consist of a five-year financial statement. The first year of your financial statement should include monthly and quarterly projections, with the remaining years including annual figures.

What goes in a financial statement? Let’s break it down:

• Profit and loss statement: Also referred to as an income statement, a profit and loss statement subtracts your costs from your revenue to find your profit. As you can imagine, you’re going to be making a lot of calculated assumptions at this point. Try to be as accurate as possible when predicting your costs and revenue. Otherwise, your profit and loss statement won’t paint a very accurate picture.
• Balance sheet: A balance sheet details your business’s assets (what you own) and liabilities (what you owe) in order to provide a snapshot of its finances. Your assets might include office space or software solutions, whereas liabilities would include any loans you’ve taken out to start your business.
• Cash flow statement: A cash flow statement shows how changes in your income and balance sheet affect your cash flow—and your ability to operate in the short- and long-term. Its goal is to show how much money you need to run your business so that you don’t run out of cash.

If you’re just getting started, it may feel too soon to consider growth opportunities. But thinking about your business’s long-term goals and plans is essential to set yourself up for success. After all, you don’t only want to succeed now. You want to make sure you have what’s necessary to succeed for years to come.

On that note, analyze the property management and real estate market in your area to identify growth opportunities for your business over the next five to 10 years, such as:

• Upgrades to your tech stack
• Strategic partnerships
• Expansion plans
• Opportunities to take advantage of new market trends

If you have any supporting documentation that could strengthen your business plan, such as buyer personas for your target customers or more complete financial projections, feel free to attach them in the appendix. That way, the additional information is there for anyone who wants to see it, but it doesn’t clutter up your business plan.

Property management business plan example

Curious about what a business plan for property management looks like? We’re including a property management business plan sample (the company overview, specifically) below to give you an idea:

Want a customizable version? Scroll to the bottom of the article to download our free template!

Download our free property management business plan template

Ready to get started? We’re here to help!

Download our free template below and simply fill in your own information. Our straightforward guide includes all the details you need to cover before starting your new business.

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Money latest: Jaguar Land Rover offers to pay £150 a month to cover insurance

Jaguar Land Rover is offering £150 a month towards the cost of insurance to help drivers cope with rising premiums amid a spike in thefts. Read this and the rest of today's consumer and personal finance below - and leave a comment on any of the stories we're covering.

Wednesday 8 May 2024 15:59, UK

• Free childcare applications about to open for new age band
• When will interest rates be cut?
• Jaguar Land Rover offers £150 towards drivers' monthly insurance costs
• New mothers forced to return to work early

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Ask a question or make a comment

If you earn significantly more or less than your partner, how do you split payments for things like housing, food, household essentials, entertainment and holidays? 

Do you both pay equally, do you split costs according to income, or do you have another method? 

Get in touch with an outline of your situation in the  box above or:

• Email [email protected] with the subject line "Money blog"
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Jaguar Land Rover is offering £150 a month towards the cost of insurance to help drivers cope with rising premiums. 

The company announced the initiative will help those who own cars covered under its in-house insurance division that are registered between 1 May 2023 and 30 September 2023. 

In order for it to apply, the vehicle cannot be worth more than £150,000. 

If your car is eligible, Jaguar Land Rover has said it will make the contribution for up to three years. 

It comes after the company launched Land Rover Insurance in October after reports suggested car thefts were pushing up the costs offered by mainstream providers. 

"Customers of luxury cars and other luxury items are experiencing an increase in thefts due to organised criminal activity in the UK," a spokesperson said at the time. 

"The desirability of our luxury vehicles, coupled with concerns around thefts, has recently led to challenges in obtaining insurance cover for some clients." 

An airline entirely dedicated to dogs is arriving in the UK next month - but it will cost you more than £6,000 for you and your pet to enjoy it.

Bark Airlines will start by flying two routes - from London to New York and New York to LA. But it is hoping to add more to its roster soon. 

During the flights, your pooch will be given free access to roam the plane and will be provided with treats, as well as a beverage of their choice during ascent and descent to help with the change in pressure. 

On its website, Bark Airlines brags about being the first of its kind due to it being built "from the ground up" for dogs. 

The experience is very high end, with a concierge greeting you and your dog before the flight, a free pass through security and only 10 people per flight. 

The cabin also comes prepped with pheromones, music and lavender scented towels to help keep the beloved pets calm. 

A "just in case" bag is provided too, filled with leashes, poo bags and snacks. 

However, it comes with a hefty price tag of £6,400 for a one way ticket and under-18s are not allowed on board. 

Money struggles are forcing more than half of new mothers to return to work earlier than planned, according to a survey. 

Weekly statutory maternity pay and maternity allowance are now worth less than half the £400.40 minimum wage for a working week. 

Maternity Action, which spoke to more than 1,000 new mothers, found 62% rely on credit cards or borrowing from friends when pregnant or on maternity leave. 

Meanwhile, 59% have either returned or are planning to return to work earlier than preferred after the birth because of money worries. 

At least one mother described how it would take "years" for her to recover financially from the cost of maternity leave. 

Just 13% of women on maternity leave benefit from employers' occupational maternity pay schemes, down from 44% in 2008, according to government research. 

Some are unable to claim statutory maternity pay due to self-employment. 

Ros Bragg, director of Maternity Action, said: "The low levels of maternity pay and benefits come as a huge shock to many trying to start families. 

"We've heard from women skipping meals, relying on food parcels and becoming anaemic because they can't buy healthy food."

The French capital is about to raise the cost of public transport - impacting any city-breakers or those heading to the Paris Olympics this summer. 

Metro ticket prices will rise by more than 85% from 20 July, jumping from €2.15 (£1.85) for a single ticket to €4 (£3.43). 

The price for a city bus ticket will double from €2.50 (£2.15) to €5 (£4.29). 

It comes into force six days before the start of the Olympic and Paralympic Games, and will remain in place until 8 September. 

The price of transport passes will stay the same, meaning regular travellers such as residents should be unaffected. 

To avoid the extra cost, you could buy a weekly travel pass. 

These are priced at €30.75 (£26.39) for zones 1 to 5 while a Navigo Day Pass costs €8.65 (£7.42) to travel across two zones. 

Tourists can also buy a Paris Pass which is aimed at people travelling for the Olympics and Paralympics. 

 The banking group has said some of its branches will close starting in September and continuing until May next year. 

Job cuts will be in the fraud operations department of the bank, central operations and staff who work at the branches earmarked for closure.

After this round of closures, TSB will have 175 branches across the UK. 

It announced earlier this year it would make cost-saving plans including cutting jobs and closing branches.

Trade union Unite said the decision by the UK high street lender was a "grave mistake".

"The decision to close a branch is never taken lightly, but our customers are now doing most of their banking digitally and we need to move to a better balance of digital and face-to-face services," a spokesperson for TSB said. 

"We remain committed to a national branch network and through innovation and integration with video, telephone, digital, branch and other face-to-face services TSB customers have more ways to bank with us than ever before."

See the list of closures here ...

A new savings account is offering customers a rate of 5.2% AER - making it a market leader. 

Raisin UK has partnered with Al Rayan Bank to offer the one-year Fixed-Term Deposit account. 

Those who deposit £1,000 can expect to have £1,052.00 in their account by the end of the year. 

The minimum deposit is £1,000, while the maximum is £85,000. 

Customers will not be able to withdraw from the account for the year. 

It is operated under Shariah principles, meaning interest cannot be earned but some of the profit the bank earns will be returned to you - meaning you can grow your savings without earning interest. 

Anna Bowes, co-founder of Savings Champion , tells the Money blog...

"It's good to see that although the markets are expecting the base rate to fall in the near future, the anticipated date for this keeps being pushed back, and this seems to have stimulated a little bit of competition among some savings providers – in particular fixed-term bonds - pushing rates upwards.

"This latest increase from Al Rayan Bank, available both directly and via the Raisin UK cash platform, is exactly what we like to see, and hopefully it will create a little more competition from other providers - pushing rates further in the right direction."

Anna points out this rate can be beaten with shorter fixes but in that instance "you'll need to find another home for your money on maturity, so fixing for a bit longer could actually realise more of a return in the end".

A district council in Prague is looking at banning "silly costumes" worn by stag and hen party groups. 

Officials from the Prague 1 area, which is largely a UNESCO World Heritage site, have said the ban is aimed at clamping down on noisy and drunken tourists. 

The area has long struggled with tourism focused solely on nightlife activities, including bar crawls. 

Local news outlet Prague Morning said the proposal was made by councillor Bronislava Sitar Baborakova, who argued the costumes exceeded acceptable social norms and were negatively impacting residents. 

However, another councillor said the proposed ban on "silly costumes" seemed "excessive". 

Prague 1 has previously implemented a nighttime ban on non-delivery vehicles in part of the area, although the measure was swiftly cancelled after criticism. 

The struggles of fast fashion retailer Boohoo continue with news this morning that revenue dropped 17% in its financial year compared with a year earlier. 

The company, which also owns the PrettyLittleThing and Nasty Gal brands, had pre-tax profits of £58.6m in the year up to February.

That's down from £63.3m the year before as online retailers struggle with the comedown from COVID-19 pandemic era highs. 

Boohoo has faced increased competition from the likes of Chinese rival Shein and had more returns. Its share price is down 4.3% following the announcement and a fall of 20% since late December. 

Meanwhile, oil prices are now at their lowest since mid-March with a barrel of Brent crude oil - which is the pricing benchmark - costing $82.22, down from highs of $91 a barrel at one point last month. 

For one pound you can buy $1.2476 and €1.1613. 

 PG Tips has launched a high-budget advertising campaign after falling behind Yorkshire Tea, Twinings and Tetley. 

It's the tea maker's first campaign in eight years - and there isn't a chimp (or knitted chimp) in sight.

The ad is titled "Rock Solid" - it cost £12m, stars Top Boy actor Ashley Walters, has a soundtrack by Ezra Collective and is directed by Oscar-winning Steve McQueen. 

Those behind the ad, which you can watch in the embedded tweet below, say it is an attempt to appeal to a new generation.

Karen Owen, global senior marketing executive at Lipton Teas and Infusions, which owns the brand, said: "We separated the tea business from Unilever just under two years ago. PG Tips hasn't really been invested in for many, many years. So, we said no, this is the nation's tea. It is the nation's favourite tea."

In the 70-second clip, Walters can be seen coaching himself "out of the doldrums" over a cup of PG Tips.

On the concept, Ms Owen continued: "When you look at Gen Z culture, there's a real fear of burnout. They are not interested in coffee because that's burnout culture; it's pushing the problem down the road. They are much more about recovery and reconnecting with their self."

PG Tips lost £2.8m last year - and our social media polls suggest it's well behind Yorkshire Tea in terms of popularity.

This is how our LinkedIn followers have been voting in our ongoing poll ...

And it's a similar story on Instagram...

Previous PG Tips adverts starred comedians Peter Sellers, Bob Monkhouse, and Johnny Vegas.

This one is the brainchild of indie agency Calling, which is making a name for itself by modernising heritage brands.

It appears to be the first in a series.

"We don't know quite what's going to happen next but what we do know is it's going to be about progress. And Steve, when I was with him last week, he's said, 'So, what are we going to do next?'" Ms Owen said. 

The brand has invested £40m in new machinery, training and blends at its Trafford Park site in Manchester as it attempts to turn around its fortunes.

Here's what some of our LinkedIn followers and Money readers have been saying:

None of the above. Your poll is flawed. Other brands are available. Ray K

None of these... Tick tock organic rooibos tea 🍵 Fay Still

If you ain't drinking Punjana you are missing out.  Stuart Elder

Sainsbury's red label is by far the best tasting tea and has been for decades… and is almost half the price of Yorkshire tea! David100

Tetley one cup all the way , hate strong tea 🤮 Mark Osborne

Unpopular opinion but Yorkshire tea is 🤮🤮 Jo Humphrey 

I ONLY drink tea, ONLY ever pg tips :) Jason Prout

Have to admit I buy Yorkshire Tea by Taylor's of Harrogate (as I live in Bristol, the Hard Water blend if I can) or Twinings Breakfast or Strong. PG Tips and Tetley always seem to wishy washy to me. Chinks

Why do you not mention Waitrose Gold Blend tea? By far the best! Carol Waugh

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