{"id":270614,"date":"2024-07-08T15:48:23","date_gmt":"2024-07-08T03:48:23","guid":{"rendered":"https:\/\/www.reckon.com\/au\/?post_type=sbh&p=270614"},"modified":"2025-03-11T17:52:49","modified_gmt":"2025-03-11T05:52:49","slug":"how-to-write-a-business-plan","status":"publish","type":"sbh","link":"https:\/\/www.reckon.com\/au\/small-business-resources\/starting-a-small-business\/how-to-write-a-business-plan\/","title":{"rendered":"How to Write a Business Plan"},"content":{"rendered":"

[et_pb_section fb_built=”1″ custom_padding_last_edited=”on|phone” _builder_version=”4.23″ custom_padding_tablet=”” custom_padding_phone=”0px||||false|false” locked=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on” da_disable_devices=”off|off|off”][et_pb_row column_structure=”1_3,2_3″ _builder_version=”4.23″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” width=”100%” custom_padding=”||0px||false|false” global_colors_info=”{}”][et_pb_column type=”1_3″ module_class=”table-contents” _builder_version=”4.23″ background_color=”#f3f2f6″ custom_padding=”25px||25px||true|false” sticky_position=”top” sticky_limit_bottom=”section” sticky_position_tablet=”top” sticky_position_phone=”none” sticky_position_last_edited=”on|desktop” pac_dcm_carousel_specific_module_num=”0″ border_radii=”on|24px|24px|24px|24px” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.23″ text_font=”||||||||” global_colors_info=”{}” background__hover_enabled=”on|desktop”][\/et_pb_text][\/et_pb_column][et_pb_column type=”2_3″ _builder_version=”4.16″ custom_padding=”|||” pac_dcm_carousel_specific_module_num=”0″ global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Copy paste body text here” _builder_version=”4.27.0″ header_2_font_size=”32px” header_2_font_size_tablet=”30px” header_2_font_size_phone=”26px” header_2_font_size_last_edited=”on|tablet” global_colors_info=”{}”]<\/p>\n

If you\u2019re setting foot into the small business world and are unsure of how to write a business plan, don\u2019t worry \u2013 we\u2019ve got you covered with our free small business plan template<\/a>!<\/p>\n

To kickstart your new venture, we also combined the free downloadable business plan template with some key strategy tips.<\/p>\n

\"Keys<\/p>\n

Small business plan<\/h2>\n

A business plan is a formal document containing a business\u2019s goals and objectives for the future.<\/p>\n

A small business plan also provides an overview of the day-to-day aspects of your small business including a business description, executive summary, market research, competitor analysis, financial\u00a0forecasts, strategy, crucial information for potential investors, and much more.<\/p>\n

Writing a business plan gives your business the best chance of financial success by helping you to flesh out your business proposal, outline key features of your business processes and gives an action plan of the specific goals you wish to achieve\u00a0over a certain period of time.<\/p>\n

If you\u2019re seeking external investors in your small business or courting finance, a solid business plan can also form an essential piece of evidence in your bid for funding.<\/p>\n

While it can seem overwhelming, the time and effort you put into your small business plan is worth it for your long-term financial success.<\/p>\n

Before you get started here\u2019s our five key tips for writing the perfect small business plan:<\/p>\n

1. Research, research, research<\/h2>\n

How to start a business plan can seem like the hardest part, but it\u2019s straightforward.<\/p>\n

Before you even consider starting a business<\/a> you should have a good understanding of the market you plan on entering.<\/p>\n

Doing your research can mean the difference between success and failure, and it doesn\u2019t have to cost you anything. It\u2019s also the best place to start a business plan.<\/p>\n

Networking, online research and informal focus groups are often all you need. Here\u2019s what to ask yourself before you take the plunge:<\/p>\n