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That doesn’t mean you have to bust out Word and start the plan from scratch. A template is great--you probably aren’t doing anything that hasn’t been done before, so it provides a proven structure for your plan. Pretty much everything on it can be customized.

A business plan is not a document you create once and store in your bottom drawer. It is a living guide that you should develop as your business grows and changes. Successful businesses review and update their business plan when circumstances change.

There are no rules about what your plan should cover or the level of detail. In general, plans need to include information regarding:
~ business profile
~ vision, mission and
~ market research
~ operational strategy
~ products and/or services
~ marketing plan
~ financial strategy.

Creating your business plan is more than just getting your ideas down on paper for potential funders to see. It’s an exploratory process in which you can evaluate your options, test your assumptions about your idea, and even discover new opportunities. It might even lead you to kill off aspects of your business before investing too much time or money in them.

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