Professional Business Plan Writing: Best Tips And Examples

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If you are interested in starting your own business, then you need to develop and work out a plan. A business plan will help you to make decisions more clearly. In addition to clarity, business plans also outline any ideas or concepts that you intend on implementing for investors. 

Business investors will always want to see a plan before they commit their hard-earned cash to your business.

But how do you write a professional business plan? Don’t worry, we’ve got you covered. Here’s how you can write a business plan, as well as an example template for you to study:

What is a business plan?

A business plan is essentially just an outline of where you intend on taking your business, as well as your products or the services that you provide. Business plans commonly also include strategies for earning money, finding staff, and financing. In many cases, business plans are presented to investors, who provide funding.

Professional Business Plan Writing Best Tips And Examples

Business plans also include information on a business’s management and operations model. All of the information contained within a business plan will provide a route for the business’s owners to follow, ensuring that the business achieves success.

What are the benefits of writing a business plan?

As already mentioned, investors rely upon business plans in order to determine a business’s feasibility. If they decide that a business is not financially viable, then they will not be able to confidently invest, and therefore, your business won’t receive the funding that it needs to succeed. The benefits of writing a business plan include:

Careful planning

A business plan allows you to work out your ideas and come to terms with the scope and aims of your business, as well as the resources that you will need to take it off of the ground (money, manpower, time).

Idea evaluation

It’s common for business owners to have lots of ideas about where they want to take their business. Often, it’s impossible to implement all of these ideas. Business owners need to refine and evaluate their ideas, which a business plan can help to do.

Conducting research

In order to produce a cogent business plan, research is necessary.

Conducting research

Not only will research help to inform business owners about who their target audience and ideal customer is, but also to understand the industry that they intend on working in.

Staff recruitment

Business plans aren’t only useful for investors, but also for new hires.

If you are starting your business and can’t pay your staff a sizable salary, you may be able to still get them on board by presenting your plan to them, showing them where you intend upon taking your business, how you will get there, and what their duties and roles in the future may include.

Business collaboration

It’s very common for start-ups and small businesses to collaborate and work with other businesses in their sector.

If you intend on finding people to collaborate with, then a business plan will make it easier for them to determine whether or not your business is worth working with, especially if they are much more successful than your business currently is.

Business rivalry

Whatever industry you are in, you are guaranteed to have competition and rivalries with other businesses.

A business plan will help you to work out an effective strategy for dealing with businesses that want to drive you out of business. Rivalries can be very hard to manage if you have not already put a lot of thought into how you will manage them.

Should you hire a consultancy firm?

The first thing that many business owners do when they realize that they need to produce a concise business plan is to hire a consultancy firm. In most cases, this is a very clever decision.

Should you hire a consultancy firm

Most business owners actually have no clue about how to develop and format a proper business plan, because they do not have the training that is necessary, which can only be acquired through a university or college course, or professional training.

A poorly written business plan can make your business look very bad and put off potential investors.

A consultancy firm will work with you to develop your business plan. Alternatively, business plan development services may be able to write it all out for you, provided that you give them the information that’s necessary for them to do so.

If you are too busy to work on a business plan yourself, then this is a great option. You will still have to sit down with them several times to talk through your business so that they get a clear picture of where you intend on taking your business.

If they don’t know where you are taking your business, they won’t be able to create a roadmap for you.

Business plan formats

If you are going to create your own business plan and won’t be enlisting the help of professional consultancy firms to do it for you, then you need to decide upon which format you will be following. There are several formats, including:

Lean format is a short, concise format, very similar to the traditional format, which we will address next. The lean format includes only important information, such as information that investors need to see before they can make a decision. The lean format is not used exclusively for investors, but also for new hires, as we have already explained.

Traditional format is the most commonly used type of business plan format. Traditional plans can be very time-consuming to develop because they are the most detailed, covering every single aspect of a business’s growth. While the lean format can be used for investors, most agree that the traditional format is best.

Non-profit format is a plan that is used by non-profits and charities. This is a format that is exclusively used for these organizations. It includes all of the information found in the previously explained business plans and also explains how the charity or foundation will help the people that it intends on helping, how it will reach them, which marketing channels it will use, and how it intends on succeeding.

What should a business plan look like, step-by-step?

Executive summary

The first thing that your business plan should have is an executive summary, which is your plan’s “beginning point.” It is a snapshot, giving the reader a glimpse into what your business plan will contain

Most experts advise writing the executive summary at the end because it provides a summary of everything that has been written. It can be hard to predict what your final plan is going to look like, so write your executive summary last.

Your business

Once you have written your executive summary, you need to write your introduction. Your plan’s introduction is self-explanatory. It is an introduction to the content that you are producing – another snapshot of what to expect, and what your business idea is.


When you have written that, you can jump right into the overall plan. 

You need to break down the body of your plan into four categories, which are the problem that your business is solving, the solution to this problem (if the problem is that there is a lack of sustainable butchers, your solution is by bringing people grass-fed beef), your history, which should include information on your business’s past, and finally, your business’s structure (is it a limited company?)

The industry

When you have answered all of these points and started the body of your plan, you need to delve into the industry that your business will be working in. You should include quantitative research, like measurable data and statistics

In this part of the plan, you should explain who your audience is, what the marketing trends are in your industry, who your competitors are, and how you will reach your audience.

SWOT analysis

Your business needs a SWOT analysis in its plan. SWOT stands for strengths, weaknesses, opportunities, and threats. It is a crucial part of a business plan, that investors will expect to see

It helps you to distill your idea, presenting it clearly to the plan’s intended audience. If you haven’t the faintest idea of how to write a SWOT analysis, there are plenty of online guides and tutorials for you to check out.

Strategy and execution

Following your SWOT analysis, you need to include a segment explaining your business’s strategies and how you intend on executing them. This will include additional information on marketing, sales, and your audience.

Financial information

The final segment of your business plan, prior to appendices which we will not cover, is the financial information and viability of your business. How will you fund it, where is the money coming from, and how have you secured – or will you secure – investors? 

You should have a viable method of achieving funding without investors. Investors may not appreciate a business that is not viable without investment. Make sure to bear this in mind before you complete or draft your business plan and showcase it.

Final words: Professional business plan writing: best tips and examples

Producing and writing a business plan isn’t easy, but this article’s advice and guidance should help to clear things up. Remember: if you aren’t confident producing your own business plan, then you should hire a consultancy firm to assist you.

The help of a professional business consultant is invaluable.

About the author 

Peter Keszegh

Most people write this part in the third person but I won't. You're at the right place if you want to start or grow your online business. When I'm not busy scaling up my own or other people' businesses, you'll find me trying out new things and discovering new places. Connect with me on Facebook, just let me know how I can help.

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