It might even lead you to kill off aspects of your business before investing too much time or money in them.
That doesn't mean you have to bust out Word and start the plan from scratch.
This article will outline how to create one step-by-step.
Larry Kim is the CEO of Mobile Monkey, a chatbot building platform for marketers that enables mobile messaging between businesses and customers via Facebook Messenger.
There are 15 references cited in this article, which can be found at the bottom of the page.
A business plan refers to a written document that comprehensively outlines what your business is, where it is going, and how it will get there.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. Check out these comprehensive business plan templates you can download for free to get you started: Score is an American nonprofit dedicated to helping entrepreneurs get their companies off the ground.Its template, available as a PDF or Word download, asks a whopping 150 questions and is generic enough to customize for most types of businesses.Some funders are going to want to see a lot of detail, but you can provide that in appendices.The 0 Startup, the website for the best-selling book of the same name, has a ton of stripped-down resources for entrepreneurs, including this super simplified business plan template.You will notice, however, that sometimes we include links to these products and services in the articles.When readers click on these links, and buy these products or services, Inc may be compensated.This is particularly helpful if your idea isn't fully fleshed out and you know you have homework to do--it prompts you for information.Who said a business plan has to be a long, complicated document?The Refining the Plan resource that comes with it is helpful, especially if this is your first crack at writing a business plan.The SBA's template is available to fill out online and then download as a PDF.