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Yes you do, because it can make the difference between success and failure. Writing a business plan is easier than most people think - and to make it even easier, you can use our Business Planning Template (PDF 444k B) to guide you through the process step by step.A business plan is a written document that describes your business.
It’s often harder to write something short, so take a few passes. Rather than doing a whole heap of research, they launch their service or product quickly and watch the reaction of paying customers.
After gathering that feedback, the business adjusts and improves their offering as fast as possible.
The good news is it doesn’t have to be super detailed straight away.
That’s because there are two types of business plan: The content of each is broadly the same.
Are you daunted by the thought of writing a big, formal business plan? A lot of people start and never finish, but you don’t have to be one of them.
You can start with smaller tasks and work your way up. You know where you want to go, you just need to write down the directions to get there.
You say who the target market is, why they need your product or service, how you’ll reach them, who you’re competing with and, of course, how much money you’ll make.
The key to a one-page plan is to start out simple, and grow it as you go.
For instance, if you delete a section, the numbering of all the remaining sections will update on their own.
Also, the boxes you fill in will automatically expand as you’re typing if you need the extra space, without changing the rest of the table.