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How to make a business plan

How to make a good business plan: step-by-step guide.

A business plan is a strategic roadmap used to navigate the challenging journey of entrepreneurship. It's the foundation upon which you build a successful business.

A well-crafted business plan can help you define your vision, clarify your goals, and identify potential problems before they arise.

But where do you start? How do you create a business plan that sets you up for success?

This article will explore the step-by-step process of creating a comprehensive business plan.

What is a business plan?

A business plan is a formal document that outlines a business's objectives, strategies, and operational procedures. It typically includes the following information about a company:

Products or services

Target market

Competitors

Marketing and sales strategies

Financial plan

Management team

A business plan serves as a roadmap for a company's success and provides a blueprint for its growth and development. It helps entrepreneurs and business owners organize their ideas, evaluate the feasibility, and identify potential challenges and opportunities.

As well as serving as a guide for business owners, a business plan can attract investors and secure funding. It demonstrates the company's understanding of the market, its ability to generate revenue and profits, and its strategy for managing risks and achieving success.

Business plan vs. business model canvas

A business plan may seem similar to a business model canvas, but each document serves a different purpose.

A business model canvas is a high-level overview that helps entrepreneurs and business owners quickly test and iterate their ideas. It is often a one-page document that briefly outlines the following:

Key partnerships

Key activities

Key propositions

Customer relationships

Customer segments

Key resources

Cost structure

Revenue streams

On the other hand, a Business Plan Template provides a more in-depth analysis of a company's strategy and operations. It is typically a lengthy document and requires significant time and effort to develop.

A business model shouldn’t replace a business plan, and vice versa. Business owners should lay the foundations and visually capture the most important information with a Business Model Canvas Template . Because this is a fast and efficient way to communicate a business idea, a business model canvas is a good starting point before developing a more comprehensive business plan.

A business plan can aim to secure funding from investors or lenders, while a business model canvas communicates a business idea to potential customers or partners.

Why is a business plan important?

A business plan is crucial for any entrepreneur or business owner wanting to increase their chances of success.

Here are some of the many benefits of having a thorough business plan.

Helps to define the business goals and objectives

A business plan encourages you to think critically about your goals and objectives. Doing so lets you clearly understand what you want to achieve and how you plan to get there.

A well-defined set of goals, objectives, and key results also provides a sense of direction and purpose, which helps keep business owners focused and motivated.

Guides decision-making

A business plan requires you to consider different scenarios and potential problems that may arise in your business. This awareness allows you to devise strategies to deal with these issues and avoid pitfalls.

With a clear plan, entrepreneurs can make informed decisions aligning with their overall business goals and objectives. This helps reduce the risk of making costly mistakes and ensures they make decisions with long-term success in mind.

Attracts investors and secures funding

Investors and lenders often require a business plan before considering investing in your business. A document that outlines the company's goals, objectives, and financial forecasts can help instill confidence in potential investors and lenders.

A well-written business plan demonstrates that you have thoroughly thought through your business idea and have a solid plan for success.

Identifies potential challenges and risks

A business plan requires entrepreneurs to consider potential challenges and risks that could impact their business. For example:

Is there enough demand for my product or service?

Will I have enough capital to start my business?

Is the market oversaturated with too many competitors?

What will happen if my marketing strategy is ineffective?

By identifying these potential challenges, entrepreneurs can develop strategies to mitigate risks and overcome challenges. This can reduce the likelihood of costly mistakes and ensure the business is well-positioned to take on any challenges.

Provides a basis for measuring success

A business plan serves as a framework for measuring success by providing clear goals and financial projections . Entrepreneurs can regularly refer to the original business plan as a benchmark to measure progress. By comparing the current business position to initial forecasts, business owners can answer questions such as:

Are we where we want to be at this point?

Did we achieve our goals?

If not, why not, and what do we need to do?

After assessing whether the business is meeting its objectives or falling short, business owners can adjust their strategies as needed.

How to make a business plan step by step

The steps below will guide you through the process of creating a business plan and what key components you need to include.

1. Create an executive summary

Start with a brief overview of your entire plan. The executive summary should cover your business plan's main points and key takeaways.

Keep your executive summary concise and clear with the Executive Summary Template . The simple design helps readers understand the crux of your business plan without reading the entire document.

2. Write your company description

Provide a detailed explanation of your company. Include information on what your company does, the mission statement, and your vision for the future.

Provide additional background information on the history of your company, the founders, and any notable achievements or milestones.

3. Conduct a market analysis

Conduct an in-depth analysis of your industry, competitors, and target market. This is best done with a SWOT analysis to identify your strengths, weaknesses, opportunities, and threats. Next, identify your target market's needs, demographics, and behaviors.

Use the Competitive Analysis Template to brainstorm answers to simple questions like:

What does the current market look like?

Who are your competitors?

What are they offering?

What will give you a competitive advantage?

Who is your target market?

What are they looking for and why?

How will your product or service satisfy a need?

These questions should give you valuable insights into the current market and where your business stands.

4. Describe your products and services

Provide detailed information about your products and services. This includes pricing information, product features, and any unique selling points.

Use the Product/Market Fit Template to explain how your products meet the needs of your target market. Describe what sets them apart from the competition.

5. Design a marketing and sales strategy

Outline how you plan to promote and sell your products. Your marketing strategy and sales strategy should include information about your:

Pricing strategy

Advertising and promotional tactics

Sales channels

The Go to Market Strategy Template is a great way to visually map how you plan to launch your product or service in a new or existing market.

6. Determine budget and financial projections

Document detailed information on your business’ finances. Describe the current financial position of the company and how you expect the finances to play out.

Some details to include in this section are:

Startup costs

Revenue projections

Profit and loss statement

Funding you have received or plan to receive

Strategy for raising funds

7. Set the organization and management structure

Define how your company is structured and who will be responsible for each aspect of the business. Use the Business Organizational Chart Template to visually map the company’s teams, roles, and hierarchy.

As well as the organization and management structure, discuss the legal structure of your business. Clarify whether your business is a corporation, partnership, sole proprietorship, or LLC.

8. Make an action plan

At this point in your business plan, you’ve described what you’re aiming for. But how are you going to get there? The Action Plan Template describes the following steps to move your business plan forward. Outline the next steps you plan to take to bring your business plan to fruition.

Types of business plans

Several types of business plans cater to different purposes and stages of a company's lifecycle. Here are some of the most common types of business plans.

Startup business plan

A startup business plan is typically an entrepreneur's first business plan. This document helps entrepreneurs articulate their business idea when starting a new business.

Not sure how to make a business plan for a startup? It’s pretty similar to a regular business plan, except the primary purpose of a startup business plan is to convince investors to provide funding for the business. A startup business plan also outlines the potential target market, product/service offering, marketing plan, and financial projections.

Strategic business plan

A strategic business plan is a long-term plan that outlines a company's overall strategy, objectives, and tactics. This type of strategic plan focuses on the big picture and helps business owners set goals and priorities and measure progress.

The primary purpose of a strategic business plan is to provide direction and guidance to the company's management team and stakeholders. The plan typically covers a period of three to five years.

Operational business plan

An operational business plan is a detailed document that outlines the day-to-day operations of a business. It focuses on the specific activities and processes required to run the business, such as:

Organizational structure

Staffing plan

Production plan

Quality control

Inventory management

Supply chain

The primary purpose of an operational business plan is to ensure that the business runs efficiently and effectively. It helps business owners manage their resources, track their performance, and identify areas for improvement.

Growth-business plan

A growth-business plan is a strategic plan that outlines how a company plans to expand its business. It helps business owners identify new market opportunities and increase revenue and profitability. The primary purpose of a growth-business plan is to provide a roadmap for the company's expansion and growth.

The 3 Horizons of Growth Template is a great tool to identify new areas of growth. This framework categorizes growth opportunities into three categories: Horizon 1 (core business), Horizon 2 (emerging business), and Horizon 3 (potential business).

One-page business plan

A one-page business plan is a condensed version of a full business plan that focuses on the most critical aspects of a business. It’s a great tool for entrepreneurs who want to quickly communicate their business idea to potential investors, partners, or employees.

A one-page business plan typically includes sections such as business concept, value proposition, revenue streams, and cost structure.

Best practices for how to make a good business plan

Here are some additional tips for creating a business plan:

Use a template

A template can help you organize your thoughts and effectively communicate your business ideas and strategies. Starting with a template can also save you time and effort when formatting your plan.

Miro’s extensive library of customizable templates includes all the necessary sections for a comprehensive business plan. With our templates, you can confidently present your business plans to stakeholders and investors.

Be practical

Avoid overestimating revenue projections or underestimating expenses. Your business plan should be grounded in practical realities like your budget, resources, and capabilities.

Be specific

Provide as much detail as possible in your business plan. A specific plan is easier to execute because it provides clear guidance on what needs to be done and how. Without specific details, your plan may be too broad or vague, making it difficult to know where to start or how to measure success.

Be thorough with your research

Conduct thorough research to fully understand the market, your competitors, and your target audience . By conducting thorough research, you can identify potential risks and challenges your business may face and develop strategies to mitigate them.

Get input from others

It can be easy to become overly focused on your vision and ideas, leading to tunnel vision and a lack of objectivity. By seeking input from others, you can identify potential opportunities you may have overlooked.

Review and revise regularly

A business plan is a living document. You should update it regularly to reflect market, industry, and business changes. Set aside time for regular reviews and revisions to ensure your plan remains relevant and effective.

Create a winning business plan to chart your path to success

Starting or growing a business can be challenging, but it doesn't have to be. Whether you're a seasoned entrepreneur or just starting, a well-written business plan can make or break your business’ success.

The purpose of a business plan is more than just to secure funding and attract investors. It also serves as a roadmap for achieving your business goals and realizing your vision. With the right mindset, tools, and strategies, you can develop a visually appealing, persuasive business plan.

Ready to make an effective business plan that works for you? Check out our library of ready-made strategy and planning templates and chart your path to success.

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How to create a business plan: examples & free template.

Table of Contents

How to Write a Business Plan

Executive summary, overview and business objectives, company description, define your target market, market analysis, swot analysis, competitive analysis, organization and management team, products and services offered, marketing and sales strategy, logistics and operations plan, financial projections plan, income statement, cash flow statement.

Tips on Writing a Business Plan

Free business plan template, what is a business plan, why you should write a business plan, what are the different types of business plans.

Using Business Plan Software

Business Plan FAQs

What is a good business plan, what are the 3 main purposes of a business plan, can i write a business plan by myself, is it possible to create a one-page business plan, how long should a business plan be, what is a business plan outline, what are the 5 most common business plan mistakes, what questions should be asked in a business plan, what’s the difference between a business plan and a strategic plan, how is business planning for a nonprofit different.

How to Build a Detailed Business Plan That Stands Out [Free Template]

Updated: March 29, 2022

Published: March 11, 2022

While starting a company may seem easier now than ever before, entrepreneurs have an uphill battle from the moment they start a business. And without a clear, actionable business plan for selling, marketing, finances, and operations, you're almost destined to face significant challenges.

This is why crafting a business plan is an essential step in the entrepreneurial process.

In this post, we'll walk you through the process of filling out your business plan template, like this free, editable version :

Download a free, editable one-page business plan template.

We know that when looking at a blank page on a laptop screen, the idea of writing your business plan can seem impossible. However, it's a mandatory step to take if you want to turn your business dreams into a reality.

That's why we've crafted a business plan template for you to download and use to build your new company. You can download it here for free . It contains prompts for all of the essential parts of a business plan, all of which are elaborated on, below.

This way, you'll be able to show them how organized and well-thought-out your business idea is, and provide them with answers to whatever questions they may have.

Free Business Plan Template

The essential document for starting a business -- custom built for your needs.

• Outline your idea.
• Pitch to investors.
• Secure funding.
• Get to work!

Download Free

All fields are required.

You're all set!

Click this link to access this resource at any time.

Building a Successful Business Plan

In the next section, we'll cover the components of a business plan , such as an executive summary and company description. But before we get to that, let's talk about key elements that should serve as building blocks for your plan.

For some entrepreneurs, the thought of writing a business plan sounds like a chore — a necessary means to an end. But that's a bad take.

A solid business plan is a blueprint for success . It's key to securing financing, presenting your business, outlining your financial projections, and turning that nugget of a business idea into a reality.

At the core, your business plan should answer two questions: why your business and why now?

Investors want to know why your business is entering the market, i.e. what problem it's solving and how it's different from what's currently out there. They also want to know why now is the right time for your type of product or service.

At a minimum, your plan should:

• Be more realistic than idealistic: Too often, business plans focus too much on how things could be instead of how they are. While having a vision is important, your plan needs to be rooted in research and data.
• Legitimize your business idea : If an idea fails on paper, it's a signal to go back to the drawing board. In doing so, you avoid losing precious time or money chasing an unrealistic idea.
• Position your business for funding: To get your business off the ground, chances are you'll need financial backing. Even with a solid business idea, investors, lenders, and banks still need convincing. An effective business plan will outline how much money you need, where it's going, what targets you will hit, and how you plan to repay any debts.
• Lay the foundation: Investors focus on risk – if anything looks shaky, it could be a dealbreaker. Ideally, your business plan will lay down the foundation for how you'll operate your business — from operational needs to financial projections and goals.
• Communicate your needs: It's nearly impossible to communicate your needs if you don't know what they are first. Of course, a business’ needs are always changing — but your plan should give you a well-rounded view of how your business will work in the short and long term.

So back to the question of why and why now – consider three things:

• Your industry – How does your product or service fit within your industry? Are you targeting a specific niche? Where do you see the industry going in the next five to 10 years?
• Your target audience – Who are you targeting? What challenges are they facing? How will your product or service help them in their daily lives?
• Your unique selling proposition (USP) – What sets you apart from your competitors? Is it your product/service features? Your company values? Price?

Once you know the answers to these questions, you'll be equipped to answer the question: why your business and why now.

How to Build a Business Plan

• Executive Summary
• Company and Business Description
• Product and Services Line
• Market Analysis
• Marketing Plan
• Legal Notes
• Financial Considerations

Featured Resource: Free Business Plan Template

1. cover page.

Your business plan should be prefaced with an eye-catching cover page. This means including a high-resolution image of your company logo, followed by your company's name, address, and phone number.

Since this business plan will likely change hands and be seen by multiple investors, you should also provide your own name, role in the business, and email address on the cover page.

At the bottom of this page, you can also add a confidentiality statement to protect against the disclosure of your business details.

The statement can read as follows: " This document contains confidential and proprietary information created by [your company name]. When receiving this document, you agree to keep its content confidential and may only reproduce and/or share it with express written permission of [your company name] ."

Remember to keep your cover page simple and concise — and save the important details for other sections.

Why it matters: First impressions are everything, and a clean cover page is the first step in the right direction.

Example of a Cover Page

2. Executive Summary

The executive summary of your business plan provides a one- to two-page overview of your business and highlights the most crucial pieces of your plan, such as your short-term and long-term goals.

The executive summary is essentially a boiled-down version of your entire business plan, so remember to keep this section to the point and filled only with essential information.

Typically, this brief section includes:

• A mission statement.
• The company's history and leadership model.
• An overview of competitive advantage(s).
• Financial projections.
• Company goals.
• An ask from potential investors.

Why it matters: The executive summary is known as the make-or-break section of a business plan. It influences whether investors turn the page or not — so effectively summarizing your business and the problem it hopes to solve is a must.

Think of the Summary as a written elevator pitch (with more detail). While your business plan provides the nitty-gritty details, your Summary describes — in a compelling but matter-of-fact language — the highlights of your plan. If it's too vague, complicated, or fuzzy, you may need to scrap it and start again.

Example of an Executive Summary Introduction

"The future looks bright for North Side Chicago, particularly the Rock Hill Neighborhood. A number of high-end commercial and residential developments are well on their way, along with two new condo developments in nearby neighborhoods.

While the completion of these developments will increase the population within the neighborhood and stimulate the economy, the area lacks an upscale restaurant where residents and visitors can enjoy fine food and drink. Jay Street Lounge and Restaurant will provide such a place."

3. Company & Business Description

In this section, provide a more thorough description of what your company is and why it exists.

The bulk of the writing in this section should be about your company's purpose – covering what the business will be selling, identifying the target market, and laying out a path to success.

In this portion of your business plan, you can also elaborate on your company's:

• Mission statement
• Core values
• Team and organizational structure

Why it matters: Investors look for great structures and teams in addition to great ideas. This section gives an overview of your businesses' ethos. It's the perfect opportunity to set your business apart from the competition — such as your team's expertise, your unique work culture, and your competitive advantage.

Example of a Values/Mission Statement

"Jay Street Lounge and Restaurant will be the go-to place for people to get a drink or bite in an elegant, upscale atmosphere. The mission is to be North Side's leading restaurant, with the best tasting food and the highest quality service."

3. Product & Services Line

Here's where you'll cover the makeup of your business's product and/or services line. You should provide each product or service's name, its purpose, and a description of how it works (if appropriate). If you own any patents, copyrights, or trademarks, it's essential to include this info too.

Next, add some color to your sales strategy by outlining your pricing model and mark-up amounts.

If you're selling tangible products, you should also explain production and costs, and how you expect these factors to change as you scale.

Why it matters: This section contains the real meat of your business plan. It sets the stage for the problem you hope to solve, your solution, and how your said solution fits in the market.

There's no one-size-fits-all formula for this section. For instance, one plan may delve into its ability to market in a more cost-effective way than the competition, whereas another plan focuses on its key products and their unique features and benefits.

Regardless of your angle, it's critical to convey how your offerings will differ from the competition.

Example of a Product/Service Offering

"The menu at Jay Street Lounge and Restaurant will focus on Moroccan cuisine. The stars of the menu (our specialties) are the Moroccan dishes, such as eggplant zaalouk, seafood bastilla, tagine, and chickpea stew. For those who enjoy American dishes, there will also be a variety of options, from burger sliders and flatbread pizza to grilled steak and salads.

The food at Jay Street will have premium pricing to match its upscale atmosphere. During the summer months, the restaurant will have extra seating on the patio where clients can enjoy a special summer menu. We will be open on all days of the week."

4. Market Analysis

It helps to reference your market research documentation in this section, like a Porter's Five Forces Analysis or a SWOT Analysis ( templates for those are available here ). You can also include them in your appendix.

If your company already has buyer personas, you should include them here as well. If not, you can create them right now using the Make My Persona Tool .

Why it matters: Having an awesome product is, well, awesome — but it isn't enough. Just as important, there must be a market for it.

This section allows you to dig deeper into your market, which segments you want to target, and why. The "why" here is important, since targeting the right segment is critical for the success and growth of your business.

It's easy to get lost (or overwhelmed) in a sea of endless data. For your business plan, narrow your focus by answering the following questions:

• What is my market? In other words, who are my customers?
• What segments of the market do I want to target?
• What's the size of my target market?
• Is my market likely to grow?
• How can I increase my market share over time?

Example of a Market Analysis

"Jay Street Lounge and Restaurant will target locals who live and work within the Rock Hill Neighborhood and the greater North Side Chicago area. We will also target the tourists who flock to the many tourist attractions and colleges on the North Side.

We will specifically focus on young to middle-aged adults with an income of $40,000 to $80,000 who are looking for an upscale experience. The general demographics of our target market are women between 20 to 50 years old.

A unique and varied Moroccan-American menu, along with our unique upscale atmosphere, differentiates us from competitors in the area. Jay Street will also set itself apart through its commitment to high-quality food, service, design, and atmosphere."

5. Marketing Plan

Unlike the market analysis section, your marketing plan section should be an explanation of the tactical approach to reaching your aforementioned target audience. List your advertising channels, organic marketing methods, messaging, budget, and any relevant promotional tactics.

If your company has a fully fleshed-out marketing plan, you can attach it in the appendix of your business plan. If not, download this free marketing plan template to outline your strategy.

Free Marketing Plan Template

Outline your company's marketing strategy in one simple, coherent plan.

• Pre-Sectioned Template
• Completely Customizable
• Example Prompts
• Professionally Designed

Why it matters: Marketing is what puts your product in front of your customers. It's not just advertising — it's an investment in your business.

Throwing money into random marketing channels is a haphazard approach, which is why it's essential to do the legwork to create a solid marketing plan.

Here's some good news — by this point, you should have a solid understanding of your target market. Now, it's time to determine how you'll reach them.

Example of a Marketing Plan Overview

"Our marketing strategy will focus on three main initiatives:

• Social media marketing. We will grow and expand our Facebook and Instagram following through targeted social media ads.
• Website initiatives. Our website will attract potential visitors by offering updated menus and a calendar of events.
• Promotional events. Jay Street will have one special theme night per week to attract new clients."

6. Sales Plan

It doesn't matter if your sales department is an office full of business development representatives (BDR) or a dozen stores with your products on their shelves.

The point is: All sales plans are different, so you should clearly outline yours here. Common talking points include your:

• Sales team structure, and why this structure was chosen.
• Sales channels.
• Sales tools, software, and resources.
• Prospecting strategy.
• Sales goals and budget.

Like with your marketing plan, it might make sense to attach your completed sales plan to the appendix of your business plan. You can download a template for building your sales plan here .

Why it matters: Among other things, investors are interested in the scalability of your business — which is why growth strategies are a critical part of your business plan.

Your sales plan should describe your plan to attract customers, retain them (if applicable), and, ultimately, grow your business. Be sure to outline what you plan to do given your existing resources and what results you expect from your work.

Example of a Sales Plan Overview

"The most important goal is to ensure financial success for Jay Street Lounge and Restaurant. We believe we can achieve this by offering excellent food, entertainment, and service to our clients.

We are not a low-cost dining option in the area. Instead, the food will have premium pricing to match its upscale feel. The strategy is to give Jay Street a perception of elegance through its food, entertainment, and excellent service."

7. Legal Notes

Your investors may want to know the legal structure of your business, as that could directly impact the risk of their investments. For example, if you're looking for business partners to engage in a non-corporation or LLC partnership, this means they could be on the line for more than their actual investment.

Because this clarification is often needed, explain if you are and/or plan to become a sole proprietor, partnership, corporation, LLC, or other.

You should also outline the steps you have taken (or will need to take) to operate legally. This includes licenses, permits, registrations, and insurance.

The last thing your investor wants to hear after they've sent you a big chunk of change is that you're operating without proper approval from the local, state, or federal government.

Why it matters: The last thing your investor wants to hear after they've sent you a big chunk of change is that you're operating without proper approval from the local, state, or federal government.

Example of Legal Notes

"Jay Street Lounge and Restaurant is up-to-date on all restaurant licenses and health permits. Our business name and logo are registered trademarks, presenting the possibility of expanding locally."

8. Financial Considerations

Ultimately, investors want to know two things:

• When they will earn their money back.
• When they will start seeing returns on their initial investment.

That said, be clear, calculated, and convincing in this section. It should cover:

• Startup costs.
• Sales forecasts for the next several months/quarters.
• Break-even analysis for time and dollars.
• Projected profit and loss (P&L) statement.

Facts and figures are key here, so be as specific as possible with each line item and projection. In addition, explain the "why" behind each of these sections.

However, keep in mind that information overload is a risk, especially when it comes to data. So, if you have pages upon pages of charts and spreadsheets for this section, distill them into a page or two and include the rest of the sheets in the appendix. This section should only focus on key data points.

Why it matters: One of the most important aspects of becoming "investor ready" is knowing your numbers. More importantly, you need to understand how those numbers will enhance your business.

While it's easy to write a number down on paper, it's more important to understand (and communicate) why you need capital, where it's going, and that your evaluation makes sense.

Example of Financial Projections

"Based on our knowledge and experience in the restaurant industry, we have come up with projections for the business.

Starting with an expenditure of $400,000 in year 1, we forecast sales of $1,500,000 and $2,800,000 for years two and three. We expect to achieve a net profit of 15% by year three."

9. Appendix

A detailed and well-developed business plan can range anywhere from 20 to 50 pages, with some even reaching upward of 80.

In many cases, the appendix is the longest section. Why? Because it includes the supportive materials mentioned in previous sections. To avoid disrupting the flow of the business plan with visuals, charts, and spreadsheets, business owners usually add them in the last section, i.e. the appendix.

Aside from what we've already mentioned – marketing plan, sales plan, department budgets, financial documents – you may also want to attach the following in the appendix:

• Marketing materials
• Market research data
• Licensing documentation
• Branding assets
• Floor plans for your location
• Mockups of your product
• Renderings of your office space or location design

Adding these pieces to the appendix enriches the reader's understanding of your business and proves you've put the work into your business plan without distracting from the main points throughout the plan.

Why it matters: An appendix helps the reader do their due diligence. It contains everything they need to support your business plan.

Keep in mind, however, that an appendix is typically necessary only if you're seeking financing or looking to attract business partners.

Use a Business Plan Template to Get Started

Writing a business plan shouldn't be an insurmountable roadblock to starting a business. Unfortunately, for all too many, it is.

That's why we recommend using our free business plan template. Pre-filled with detailed section prompts for all of the topics in this blog post, we're confident this template will get your business plan started in the right direction.

Editor's note: This post was originally published in June 2017 and has been updated for comprehensiveness.

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How to Write a Business Plan for a Small Business

Noah Parsons

24 min. read

Updated September 2, 2024

Writing a business plan doesn’t have to be complicated. 

In this step-by-step guide, you’ll learn how to write a business plan that’s detailed enough to impress bankers and potential investors, while giving you the tools to start, run, and grow a successful business.

• The basics of writing a business plan

If you’re reading this guide, then you already know why you need a business plan . 

You understand that writing a business plan helps you: 

• Raise money
• Grow strategically
• Keep your business on the right track 

As you start to write your business plan, it’s useful to zoom out and remember what a business plan is .

At its core, a business plan is an overview of the products and services you sell, and the customers that you sell to. It explains your business strategy: how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

Most business plans also include financial forecasts for the future. These set sales goals, budget for expenses, and predict profits and cash flow. 

A good business plan is much more than just a document that you write once and forget about. It’s also a guide that helps you outline and achieve your goals. 

After writing your business plan, you can use it as a management tool to track your progress toward your goals. Updating and adjusting your forecasts and budgets as you go is one of the most important steps you can take to run a healthier, smarter business. 

We’ll dive into how to use your plan later in this article.

There are many different types of plans , but we’ll go over the most common type here, which includes everything you need for an investor-ready plan. However, if you’re just starting out and are looking for something simpler—I recommend starting with a one-page business plan . It’s faster and easier to create. 

It’s also the perfect place to start if you’re just figuring out your idea, or need a simple strategic plan to use inside your business.

Dig deeper : How to write a one-page business plan

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• What to include in your business plan

Executive summary

The executive summary is an overview of your business and your plans. It comes first in your plan and is ideally just one to two pages. Most people write it last because it’s a summary of the complete business plan.

Ideally, the executive summary can act as a stand-alone document that covers the highlights of your detailed plan. 

In fact, it’s common for investors to ask only for the executive summary when evaluating your business. If they like what they see in the executive summary, they’ll often follow up with a request for a complete plan, a pitch presentation , or more in-depth financial forecasts .

Your executive summary should include:

• A summary of the problem you are solving
• A description of your product or service
• An overview of your target market
• A brief description of your team
• A summary of your financials
• Your funding requirements (if you are raising money)

Dig Deeper: How to write an effective executive summary

Products and services description

When writing a business plan, the produces and services section is where you describe exactly what you’re selling, and how it solves a problem for your target market. The best way to organize this part of your plan is to start by describing the problem that exists for your customers. After that, you can describe how you plan to solve that problem with your product or service. 

This is usually called a problem and solution statement .

To truly showcase the value of your products and services, you need to craft a compelling narrative around your offerings. How will your product or service transform your customers’ lives or jobs? A strong narrative will draw in your readers.

This is also the part of the business plan to discuss any competitive advantages you may have, like specific intellectual property or patents that protect your product. If you have any initial sales, contracts, or other evidence that your product or service is likely to sell, include that information as well. It will show that your idea has traction , which can help convince readers that your plan has a high chance of success.

Market analysis

Your target market is a description of the type of people that you plan to sell to. You might even have multiple target markets, depending on your business. 

A market analysis is the part of your plan where you bring together all of the information you know about your target market. Basically, it’s a thorough description of who your customers are and why they need what you’re selling. You’ll also include information about the growth of your market and your industry .

Try to be as specific as possible when you describe your market. 

Include information such as age, income level, and location—these are what’s called “demographics.” If you can, also describe your market’s interests and habits as they relate to your business—these are “psychographics.” 

Related: Target market examples

Essentially, you want to include any knowledge you have about your customers that is relevant to how your product or service is right for them. With a solid target market, it will be easier to create a sales and marketing plan that will reach your customers. That’s because you know who they are, what they like to do, and the best ways to reach them.

Next, provide any additional information you have about your market. 

What is the size of your market ? Is the market growing or shrinking? Ideally, you’ll want to demonstrate that your market is growing over time, and also explain how your business is positioned to take advantage of any expected changes in your industry.

Dig Deeper: Learn how to write a market analysis

Competitive analysis

Part of defining your business opportunity is determining what your competitive advantage is. To do this effectively, you need to know as much about your competitors as your target customers. 

Every business has some form of competition. If you don’t think you have competitors, then explore what alternatives there are in the market for your product or service. 

For example: In the early years of cars, their main competition was horses. For social media, the early competition was reading books, watching TV, and talking on the phone.

A good competitive analysis fully lays out the competitive landscape and then explains how your business is different. Maybe your products are better made, or cheaper, or your customer service is superior. Maybe your competitive advantage is your location – a wide variety of factors can ultimately give you an advantage.

Dig Deeper: How to write a competitive analysis for your business plan

Marketing and sales plan

The marketing and sales plan covers how you will position your product or service in the market, the marketing channels and messaging you will use, and your sales tactics. 

The best place to start with a marketing plan is with a positioning statement . 

This explains how your business fits into the overall market, and how you will explain the advantages of your product or service to customers. You’ll use the information from your competitive analysis to help you with your positioning. 

For example: You might position your company as the premium, most expensive but the highest quality option in the market. Or your positioning might focus on being locally owned and that shoppers support the local economy by buying your products.

Once you understand your positioning, you’ll bring this together with the information about your target market to create your marketing strategy . 

This is how you plan to communicate your message to potential customers. Depending on who your customers are and how they purchase products like yours, you might use many different strategies, from social media advertising to creating a podcast. Your marketing plan is all about how your customers discover who you are and why they should consider your products and services. 

While your marketing plan is about reaching your customers—your sales plan will describe the actual sales process once a customer has decided that they’re interested in what you have to offer. 

If your business requires salespeople and a long sales process, describe that in this section. If your customers can “self-serve” and just make purchases quickly on your website, describe that process. 

A good sales plan picks up where your marketing plan leaves off. The marketing plan brings customers in the door and the sales plan is how you close the deal.

Together, these specific plans paint a picture of how you will connect with your target audience, and how you will turn them into paying customers.

Dig deeper: What to include in your sales and marketing plan

Business operations

When writing a business plan, the operations section describes the necessary requirements for your business to run smoothly. It’s where you talk about how your business works and what day-to-day operations look like. 

Depending on how your business is structured, your operations plan may include elements of the business like:

• Supply chain management
• Manufacturing processes
• Equipment and technology
• Distribution

Some businesses distribute their products and reach their customers through large retailers like Amazon.com, Walmart, Target, and grocery store chains. 

These businesses should review how this part of their business works. The plan should discuss the logistics and costs of getting products onto store shelves and any potential hurdles the business may have to overcome.

If your business is much simpler than this, that’s OK. This section of your business plan can be either extremely short or more detailed, depending on the type of business you are building.

For businesses selling services, such as physical therapy or online software, you can use this section to describe the technology you’ll leverage, what goes into your service, and who you will partner with to deliver your services.

Dig Deeper: Learn how to write the operations chapter of your plan

Key milestones and metrics

Although it’s not required to complete your business plan, mapping out key business milestones and the metrics can be incredibly useful for measuring your success.

Good milestones clearly lay out the parameters of the task and set expectations for their execution. You’ll want to include:

• A description of each task
• The proposed due date
• Who is responsible for each task

If you have a budget, you can include projected costs to hit each milestone. You don’t need extensive project planning in this section—just list key milestones you want to hit and when you plan to hit them. This is your overall business roadmap. 

Possible milestones might be:

• Website launch date
• Store or office opening date
• First significant sales
• Break even date
• Business licenses and approvals

You should also discuss the key numbers you will track to determine your success. Some common metrics worth tracking include:

• Conversion rates
• Customer acquisition costs
• Profit per customer
• Repeat purchases

It’s perfectly fine to start with just a few metrics and grow the number you are tracking over time. You also may find that some metrics simply aren’t relevant to your business and can narrow down what you’re tracking.

Dig Deeper: How to use milestones in your business plan

Organization and management team

Investors don’t just look for great ideas—they want to find great teams. Use this chapter to describe your current team and who you need to hire . You should also provide a quick overview of your location and history if you’re already up and running.

Briefly highlight the relevant experiences of each key team member in the company. It’s important to make the case for why yours is the right team to turn an idea into a reality. 

Do they have the right industry experience and background? Have members of the team had entrepreneurial successes before? 

If you still need to hire key team members, that’s OK. Just note those gaps in this section.

Your company overview should also include a summary of your company’s current business structure . The most common business structures include:

• Sole proprietor
• Partnership

Be sure to provide an overview of how the business is owned as well. Does each business partner own an equal portion of the business? How is ownership divided? 

Potential lenders and investors will want to know the structure of the business before they will consider a loan or investment.

Dig Deeper: How to write about your company structure and team

Financial plan

The last section of your business plan is your financial plan and forecasts. 

Entrepreneurs often find this section the most daunting. But, business financials for most startups are less complicated than you think, and a business degree is certainly not required to build a solid financial forecast. 

A typical financial forecast in a business plan includes the following:

• Sales forecast : An estimate of the sales expected over a given period. You’ll break down your forecast into the key revenue streams that you expect to have.
• Expense budget : Your planned spending such as personnel costs , marketing expenses, and taxes.
• Profit & Loss : Brings together your sales and expenses and helps you calculate planned profits.
• Cash Flow : Shows how cash moves into and out of your business. It can predict how much cash you’ll have on hand at any given point in the future.
• Balance Sheet : A list of the assets, liabilities, and equity in your company. In short, it provides an overview of the financial health of your business. 

A strong business plan will include a description of assumptions about the future, and potential risks that could impact the financial plan. Including those will be especially important if you’re writing a business plan to pursue a loan or other investment.

Dig Deeper: How to create financial forecasts and budgets

This is the place for additional data, charts, or other information that supports your plan.

Including an appendix can significantly enhance the credibility of your plan by showing readers that you’ve thoroughly considered the details of your business idea, and are backing your ideas up with solid data.

Just remember that the information in the appendix is meant to be supplementary. Your business plan should stand on its own, even if the reader skips this section.

Dig Deeper : What to include in your business plan appendix

Optional: Business plan cover page

Adding a business plan cover page can make your plan, and by extension your business, seem more professional in the eyes of potential investors, lenders, and partners. It serves as the introduction to your document and provides necessary contact information for stakeholders to reference.

Your cover page should be simple and include:

• Company logo
• Business name
• Value proposition (optional)
• Business plan title
• Completion and/or update date
• Address and contact information
• Confidentiality statement

Just remember, the cover page is optional. If you decide to include it, keep it very simple and only spend a short amount of time putting it together.

Dig Deeper: How to create a business plan cover page

How to use AI to help write your business plan

Generative AI tools such as ChatGPT can speed up the business plan writing process and help you think through concepts like market segmentation and competition. These tools are especially useful for taking ideas that you provide and converting them into polished text for your business plan.

The best way to use AI to write a business plan is to leverage it as a collaborator , not a replacement for human creative thinking and ingenuity. 

AI can come up with lots of ideas and act as a brainstorming partner. It’s up to you to filter through those ideas and figure out which ones are realistic enough to resonate with your customers. 

There are pros and cons of using AI to help with your business plan . So, spend some time understanding how it can be most helpful before just outsourcing the job to AI.

Learn more: 10 AI prompts you need to write a business plan

• Writing tips and strategies

To help streamline the business plan writing process, here are a few tips and key questions to answer to make sure you get the most out of your plan and avoid common mistakes .  

Determine why you are writing a business plan

Knowing why you are writing a business plan will determine your approach to your planning project. 

For example: If you are writing a business plan for yourself, or just to use inside your own business , you can probably skip the section about your team and organizational structure. 

If you’re raising money, you’ll want to spend more time explaining why you’re looking to raise the funds and exactly how you will use them.

Regardless of how you intend to use your business plan , think about why you are writing and what you’re trying to get out of the process before you begin.

Keep things concise

Probably the most important tip is to keep your business plan short and simple. There are no prizes for long business plans . The longer your plan is, the less likely people are to read it. 

So focus on trimming things down to the essentials your readers need to know. Skip the extended, wordy descriptions and instead focus on creating a plan that is easy to read —using bullets and short sentences whenever possible.

Have someone review your business plan

Writing a business plan in a vacuum is never a good idea. Sometimes it’s helpful to zoom out and check if your plan makes sense to someone else. You also want to make sure that it’s easy to read and understand.

Don’t wait until your plan is “done” to get a second look. Start sharing your plan early, and find out from readers what questions your plan leaves unanswered. This early review cycle will help you spot shortcomings in your plan and address them quickly, rather than finding out about them right before you present your plan to a lender or investor.

If you need a more detailed review, you may want to explore hiring a professional plan writer to thoroughly examine it.

Use a free business plan template and business plan examples to get started

Knowing what information to include in a business plan is sometimes not quite enough. If you’re struggling to get started or need additional guidance, it may be worth using a business plan template. 

There are plenty of great options available (we’ve rounded up our 8 favorites to streamline your search).

But, if you’re looking for a free downloadable business plan template , you can get one right now; download the template used by more than 1 million businesses. 

Or, if you just want to see what a completed business plan looks like, check out our library of over 550 free business plan examples . 

We even have a growing list of industry business planning guides with tips for what to focus on depending on your business type.

Common pitfalls and how to avoid them

It’s easy to make mistakes when you’re writing your business plan. Some entrepreneurs get sucked into the writing and research process, and don’t focus enough on actually getting their business started. 

Here are a few common mistakes and how to avoid them:

Not talking to your customers : This is one of the most common mistakes. It’s easy to assume that your product or service is something that people want. Before you invest too much in your business and too much in the planning process, make sure you talk to your prospective customers and have a good understanding of their needs.

• Overly optimistic sales and profit forecasts: By nature, entrepreneurs are optimistic about the future. But it’s good to temper that optimism a little when you’re planning, and make sure your forecasts are grounded in reality. 
• Spending too much time planning: Yes, planning is crucial. But you also need to get out and talk to customers, build prototypes of your product and figure out if there’s a market for your idea. Make sure to balance planning with building.
• Not revising the plan: Planning is useful, but nothing ever goes exactly as planned. As you learn more about what’s working and what’s not—revise your plan, your budgets, and your revenue forecast. Doing so will provide a more realistic picture of where your business is going, and what your financial needs will be moving forward.
• Not using the plan to manage your business: A good business plan is a management tool. Don’t just write it and put it on the shelf to collect dust – use it to track your progress and help you reach your goals.
• Presenting your business plan

The planning process forces you to think through every aspect of your business and answer questions that you may not have thought of. That’s the real benefit of writing a business plan – the knowledge you gain about your business that you may not have been able to discover otherwise.

With all of this knowledge, you’re well prepared to convert your business plan into a pitch presentation to present your ideas. 

A pitch presentation is a summary of your plan, just hitting the highlights and key points. It’s the best way to present your business plan to investors and team members.

Dig Deeper: Learn what key slides should be included in your pitch deck

Use your business plan to manage your business

One of the biggest benefits of planning is that it gives you a tool to manage your business better. With a revenue forecast, expense budget, and projected cash flow, you know your targets and where you are headed.

And yet, nothing ever goes exactly as planned – it’s the nature of business.

That’s where using your plan as a management tool comes in. The key to leveraging it for your business is to review it periodically and compare your forecasts and projections to your actual results.

Start by setting up a regular time to review the plan – a monthly review is a good starting point. During this review, answer questions like:

• Did you meet your sales goals?
• Is spending following your budget?
• Has anything gone differently than what you expected?

Now that you see whether you’re meeting your goals or are off track, you can make adjustments and set new targets. 

Maybe you’re exceeding your sales goals and should set new, more aggressive goals. In that case, maybe you should also explore more spending or hiring more employees. 

Or maybe expenses are rising faster than you projected. If that’s the case, you would need to look at where you can cut costs.

A plan, and a method for comparing your plan to your actual results , is the tool you need to steer your business toward success.

Learn More: How to run a regular plan review

How to write a business plan FAQ

What is a business plan?

A document that describes your business , the products and services you sell, and the customers that you sell to. It explains your business strategy, how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

What are the benefits of writing a business plan?

A business plan helps you understand where you want to go with your business and what it will take to get there. It reduces your overall risk, helps you uncover your business’s potential, attracts investors, and identifies areas for growth.

Writing a business plan ultimately makes you more confident as a business owner and more likely to succeed for a longer period of time.

What are the 7 steps of writing a business plan?

The seven steps to writing a business plan include:

• Write a brief executive summary
• Describe your products and services.
• Conduct market research and compile data into a cohesive market analysis.
• Describe your marketing and sales strategy.
• Outline your organizational structure and management team.
• Develop financial projections for sales, revenue, and cash flow.
• Add any additional documents to your appendix.

What are the 5 most common business plan mistakes?

There are plenty of mistakes that can be made when writing a business plan. However, these are the 5 most common that you should do your best to avoid:

• 1. Not taking the planning process seriously.
• Having unrealistic financial projections or incomplete financial information.
• Inconsistent information or simple mistakes.
• Failing to establish a sound business model.
• Not having a defined purpose for your business plan.

What questions should be answered in a business plan?

Writing a business plan is all about asking yourself questions about your business and being able to answer them through the planning process. You’ll likely be asking dozens and dozens of questions for each section of your plan.

However, these are the key questions you should ask and answer with your business plan:

• How will your business make money?
• Is there a need for your product or service?
• Who are your customers?
• How are you different from the competition?
• How will you reach your customers?
• How will you measure success?

How long should a business plan be?

The length of your business plan fully depends on what you intend to do with it. From the SBA and traditional lender point of view, a business plan needs to be whatever length necessary to fully explain your business. This means that you prove the viability of your business, show that you understand the market, and have a detailed strategy in place.

If you intend to use your business plan for internal management purposes, you don’t necessarily need a full 25-50 page business plan. Instead, you can start with a one-page plan to get all of the necessary information in place.

What are the different types of business plans?

While all business plans cover similar categories, the style and function fully depend on how you intend to use your plan. Here are a few common business plan types worth considering.

Traditional business plan: The tried-and-true traditional business plan is a formal document meant to be used when applying for funding or pitching to investors. This type of business plan follows the outline above and can be anywhere from 10-50 pages depending on the amount of detail included, the complexity of your business, and what you include in your appendix.

Business model canvas: The business model canvas is a one-page template designed to demystify the business planning process. It removes the need for a traditional, copy-heavy business plan, in favor of a single-page outline that can help you and outside parties better explore your business idea.

One-page business plan: This format is a simplified version of the traditional plan that focuses on the core aspects of your business. You’ll typically stick with bullet points and single sentences. It’s most useful for those exploring ideas, needing to validate their business model, or who need an internal plan to help them run and manage their business.

Lean Plan: The Lean Plan is less of a specific document type and more of a methodology. It takes the simplicity and styling of the one-page business plan and turns it into a process for you to continuously plan, test, review, refine, and take action based on performance. It’s faster, keeps your plan concise, and ensures that your plan is always up-to-date.

What’s the difference between a business plan and a strategic plan?

A business plan covers the “who” and “what” of your business. It explains what your business is doing right now and how it functions. The strategic plan explores long-term goals and explains “how” the business will get there. It encourages you to look more intently toward the future and how you will achieve your vision.

However, when approached correctly, your business plan can actually function as a strategic plan as well. If kept lean, you can define your business, outline strategic steps, and track ongoing operations all with a single plan.

Noah is the COO at Palo Alto Software, makers of the online business plan app LivePlan. He started his career at Yahoo! and then helped start the user review site Epinions.com. From there he started a software distribution business in the UK before coming to Palo Alto Software to run the marketing and product teams.

Table of Contents

• Use AI to help write your plan
• Common planning mistakes
• Manage with your business plan

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Top 5 Business Plan Chart Example Templates with Samples

Kavesh Malhotra

Tim Fargo once said,  " Good intentions might sound nice, but it’s positive actions that matter. "  

This quote highlights the importance of not only creating a business plan but also executing it effectively. This is where business plan charts come in; they provide a roadmap for businesses to follow which ensures that they stay on track in achieving their goals.

There is no doubt that business planning is an essential element of any successful venture, and a well-executed plan can make a significant difference to business success. As mentioned above, one of the most critical components of a business plan is the use of charts to display information in a visually appealing and easy-to-understand manner. 

SlideTeam is delighted to present its selection of the Top 5 Business Plan Chart Templates with Samples . These templates are designed to assist owners, managers, and other professionals involved in business management to create a comprehensive and effective business plan that fulfills the needs of end-users and stakeholders alike.

Utilizing these top 5 business plan chart templates can help companies in prioritizing tasks, creating a clear and concise communication plan , focusing on their strategy and critical goals, tracking their progress toward achieving their revenue targets, and expanding into new markets. 

Unlock your true potential as a business manager with our pre-designed PowerPoint Slides. These templates are the ultimate solution to all your business needs, providing you with the power to customize your tasks and plans in ways you never thought possible. With our structured content-ready slides, you'll have everything you need at your fingertips to streamline your workflow and optimize your productivity. 

We're here to have a closer look at each of our business plan ppt templates and help you choose the one that suits your specific business requirements. So, what are you waiting for? Download one of these templates today and become a master in designing a breakthrough plan!

Check Out our Top 5 Business Plan Chart Templates

Template 1: initial six-month business plan gantt chart.

This PowerPoint Slide presents a comprehensive roadmap for developing a successful business plan. It covers critical areas such as strategy, finance, personnel, customers, and finances. This PPT Template allows you to create a clear project plan by outlining important details like project start and end dates, status updates, and assigned teams. This chart facilitates effective collaboration among team members, enables you to share your product plans, and provides a platform for discussing project progress with executives. Additionally, the task management chart helps align your activities efficiently, while the template's versatility allows for high-level resource planning and flexible implementation, benefiting your business. Seize the opportunity to elevate your business plan with this top-rated template.

Download Now!

Template 2: Strategic Business Plan Flow Chart with Key Goals

This chart is an essential tool for an organization's strategic business planning. Its comprehensive set of slides covers key areas such as marketing strategy, SWOT analysis , and other vital tools that can help businesses identify their target customers and develop a successful business strategy . With this chart, companies can create a clear and concise communication plan that outlines their process and how it aligns with their target customers and market evaluation . Download this set of slides and take your business to the next level.

Template 3: Marketing Gantt Chart for Business Plan

This chart is ideal for businesses focusing on their digital marketing strategy and revenue sources . With this chart, companies can create a timeline for their marketing initiatives, such as advertising campaigns and social media promotions, and track their progress in achieving the revenue targets. This PowerPoint Template is a valuable tool for digital managers and social media team members for monitoring project progress and highlighting key milestones. It features a Gantt chart design that effectively showcases different social channels, timelines, and progress percentages. This template is a must-have for anyone looking to stay organized and efficiently manage their social marketing projects.

Template 4: New Business Development Planning Chart with Market Evaluation

This PPT Chart is perfect for enterprises looking to expand into fresh markets or launch new products or services. With this PPT Layout, businesses can conduct a SWOT analysis to identify their strengths, weaknesses, opportunities, and threats and create a clear plan for entering new markets. It also clearly defines the New Business snapshot , Market evaluation , Expense Sources, and expected Revenue Sources . Download now and unleash the full potential of your new business development efforts.

Template 5: Business Plan Chart for Data Flat PowerPoint Design

This chart is perfect for businesses wanting to create a snapshot that provides a quick overview of their business plan. With this chart, businesses can display key information such as their target customers, revenue sources , and market evaluation in a visually appealing and easy-to-understand format. Download these templates via the link below, and start executing your business plan with confidence.

Bottom Line

Business plan charts are crucial for any business owner or manager looking to create a roadmap for success. Whether you're looking to visualize your business strategy, set key goals , conduct a SWOT analysis , plan a task timeline , develop strategies, or communicate plans to team members and stakeholders, we have a business plan chart template that can help you achieve your goals. By incorporating these templates into business planning, professionals can easily create visual representations of their plans, track progress, and make informed decisions based on their business snapshot , market evaluation , and revenue sources .

Professional Note:

Please visit here for more information on strategic business plan templates, business approaches, and other related topics. These templates incorporate many resources, including samples, descriptions, and USPs (unique selling points), to help professionals develop effective business plans and management strategies.

FAQs on Business Plan Chart

How do i make a business plan chart.

Making a business plan chart involves several steps that can be streamlined using pre-designed PowerPoint templates. Start by identifying the purpose of your business plan and defining key goals and objectives. Then, create a task timeline and identify the resources needed to achieve those goals. This can be done using a Gantt or flow chart, which helps you visualize your plan and track progress.

What Are The Four Types of Business Plans?

There are four types of business plans: strategic plans, operational plans, internal plans, and growth plans. 

Each plan serves a different purpose, such as outlining the company's business strategy , setting key goals , or evaluating market opportunities. A business plan often includes a SWOT analysis to identify strengths, weaknesses, opportunities, and threats.

Why is a Business Plan Important?

A business plan is vital because it is a roadmap for the company's success. It outlines the company's key goals , strategies, and revenue sources and helps in identifying potential challenges and risks. A business plan also serves as a communication plan , allowing stakeholders to understand the company's vision and goals.

What Are the Elements of Business Plan?

The key elements of a business plan include:

• Business snapshot- It outlines the company's mission and values. 
• Market evaluation - It analyzes the target customers and competitors.
• Revenue sources - It identifies the company’s sources of income. 
• Marketing Gantt - It outlines the company's marketing strategy and task timeline.  

Other essential elements include financial, operational, and risk management plans. 

Related posts:

• Top 10 Business Development Strategy Templates with Samples and Examples
• Top 5 Business Plan Timeline Template with Samples and Examples
• Top 7 Corporate Strategy Templates with Samples and Examples
• Must-Have Freelance Business Plan Template to Achieve Long Term Success

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What is a Business Plan ?

A business plan is a written document or presentation that allows business leaders to share the business potential and goals, as well as your plans for the future. The business plan is a key step in working towards getting investors looking at your product.

If you're looking to flesh out a new business idea or venture in order to get cofounders or investors on board, you need a business plan. Get started with one of our templates to give you a starting point and framework for your own plan.

Why do I need a business plan?

Writing a business plan is a key step in securing funding and convincing high level executives that your business is worth their time. A well-executed business plan is crucial to the success of a business and it’s one of the first steps you should take.

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Learn more about creating your own business plan presentation or document by going through our step-by-step tutorial below or watching this quick video.

• Log into your Visme dashboard or create a new account, then click Create New Project.
• Access our business plan templates by searching for “Business Plan” in the search box.
• Select the template, then customize the content for your business.
• Update any charts and graphs to reflect your business goals.
• Once all your content is added, customize colors, logos, icons and more.

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Use This Business Plan Format to Expertly Write Your Plan

Written by Dave Lavinsky

When you’re starting a new business, having a solid business plan is super important. But knowing how to format that plan can be tricky. A good business plan format helps you organize your ideas, set clear goals, and show others why your business will succeed. In this guide, we’ll break down what a business plan format should look like, so you can create a plan that’s easy to follow and gets you the results you want. Whether you’re looking for investors or just want a clear path forward, getting your business plan format right is the first step to success.

Download our Ultimate Business Plan Template here >

How to Format Your Business Plan: The Cover Sheet

Every business plan should begin with a simple business plan cover page including the business name, your name and contact information. An easy to read table of contents should follow.

Example Business Plan Table of Contents

I: Executive Summary      a. Business Overview      b. Success Factors      c. Financial Highlights

II: Company Overview      a. Who is [Company Name]?      b. [Company Name]’s History      c. [Company Name]’s Products & Services

III: Industry Analysis      a. Industry Trends

IV: Customer Analysis      a. Customer Segmentation

V: Competitive Analysis      a. Direct & Indirect Competitors      b. Competitive Advantage

VI: Marketing Plan      a. The [Company Name] Brand      b. Promotions Strategy      c. Pricing Strategy

VII: Operations Plan      a. Functional Roles      b. Goals and Milestones

VIII: Management Team      a. Management Team Members      b. Hiring Plan

IX: Financial Plan      a. Revenue Model      b. Revenue and Cost Drivers      c. Key Assumptions & Forecasts

X: Appendix

The cover sheet should leave no question for readers to be able to identify the business plan when it is in a stack with dozens of others on their desk. The table of contents allows them to easily refer to sections within the plan. For example, after reading the executive summary, some investors with an eye for numbers may turn directly to the financial plan and statements. Proper business plan format allows readers to quickly get the information they want.

Example Business Plan Format

There are 10 business plan components or sections that every entrepreneur and business owner must include in their plan. These include:

• Executive summary
• Company overview
• Industry analysis
• Customer analysis
• Competitive analysis
• Marketing plan
• Operations plan
• Management team
• Financial plan

You should recognize these if you’ve ever worked with the best business plan template .

Formatting your business plan with charts and graphs is welcomed to break up long blocks of text. However, charts and graphs shouldn’t be used for their own sake. They must make the information easier to pass on than text would.

The business plan format that investors and lenders expect includes the following 10 sections. You can download our business plan format pdf here, to help you get started. We’ve included important notes in each section specific to business plan formatting to help you as you write your plan.

1. Start with Your Executive Summary

An executive summary gives readers a crisp overview of your business at the start of your plan. This section should not be more than two pages long and should include the following:

• What is the business about?
• Where and why did the idea of the business originate?
• Who are the owners?
• Which industry is it operating in?
• What is its core function?
• Where is it located?
• How is it going to make money?
• How much money (if any) is it already making?
• What are its financial projections?

The best format for your executive summary is paragraphs. Utilizing bullets and headings is also useful formatting within an executive summary, as it aids the reader in scanning the content on the page.

2. Company Overview Section

The company overview is the perfect place to highlight the strengths of your business. This section gives the reader additional information about your products and/or services and describes your company’s past accomplishments.

Including the below in this section will provide further clarity about your business:

• What type of business you are (e.g., C-Corporation, sole proprietor)
• When your business started
• Business’ accomplishments to date

The best formatting to use in this section is paragraphs to describe your company’s strengths and products/services. You should also include a chart that outlines your company’s achievements to date.

3. Industry or Market Analysis

The industry or market analysis gives the reader a clear understanding of your industry and the audience it serves. It includes a detailed explanation of your market size and trends.

Typically, the format of this section should be paragraphs. Feel free to include charts and graphs to best convey the information to the reader.

4. The Customer Analysis States Who Your Customers Are and What They Need

In this section of your plan, explain who your target customers are and identify their specific needs. Doing this will help you better target and attract customers.

5. Competitive Analysis

The Competitive Analysis section identifies your direct and indirect competitors. It discusses who they are and their strengths and weaknesses. It then details your areas of competitive advantages.

Whether your competitors are small or large businesses, describe them. Telling investors there are no competitors (big or small) often gives the impression that a market does not exist for your company.

With regards to formatting, use paragraphs to describe each competitor. As appropriate, adding a competitor matrix to show similarities and differences between your company and the competition can be very powerful.

6. Your Marketing Plan is a Key Section

The marketing & sales section of your business plan should outline how you plan to attract new customers and retain old ones. This section should outline the ways customers can be introduced to and engage with your offerings and describe how you will convert these prospects into paying customers.

Set marketing objectives that include the following (if applicable):

• Introducing new products
• Extending the market reach
• Exploring new markets
• Boosting sales
• Cross-selling
• Creating a long-term partnership with clients
• Increasing prices without affecting sales
• Creating a content marketing strategy

Organize your Marketing Plan into the 4 P’s – Price, Product, Promotions and Place. If you have multiple products or services, include a menu with each key item and its price.

7. The Operations Plan Format

Your Operations Plan identifies your key operational processes and milestones you expect to accomplish. Using a Gantt chart is a great way to show your expected future milestones. You can also format this section with tables that document the dates of future milestones.

8. You Need to Prove Your Management Team Can Execute

“A company is only as good as the people it keeps.” – Mary Kay Ash, American Entrepreneur and Businesswoman

The Management Team section of your business plan focuses on the people who run the business.

Who are the decision-makers, who is the product expert, who is the operations head, and who is running the entire show? A glimpse into the expertise and capabilities of your team members and how their experiences will help grow your business will boost stakeholder confidence.

To improve the formatting and best convey your management team to readers, consider adding an organizational chart that shows your team members and reporting structure.

9. Format Your Financial Plan

The goal of this section is to convince the reader that your business is stable and will be financially successful. Arm this section with past and/or forecasted cash flow statements, balance sheets, profit & loss statements, expense budgeting and sales forecasts.

If you run an operational business, include 3 years of historical data to help investors gain an understanding of how feasible your funding request is and if your business is capable of generating good returns.

Also include your funding request, if applicable, in this section. You should mention how much investment is required to take your business to the next significant milestone and how the money will be spent. You should also define if you are seeking debt or equity funding. If you are seeking debt financing like an SBA loan, ensure your financial projections include the debt and show steady repayments of both the principal and return under reasonable loan terms.

If you are seeking equity financing, you don’t need to include your valuation expectations in the business plan, but you should be aligned within your ownership team on the amount of equity you are willing to exchange before you pitch investors.

Example Financial Plan

Projected sales, gross profit & net income.

5 Year Annual Income Statement

5 Year Annual Balance Sheet

5 Year Annual Cash Flow Statement

10. Appendix

This section includes supporting documentation of your business case. This could include renderings of a planned store location, market research reports referenced in the plan, key supplier or buyer contracts that substantiate your financial projections or historical marketing and sales data.

Formatting Your Business Plan

Overall, business plans should use simple and standard formatting. Twelve point font size in a standard font like Arial or Times New Roman is best, as well as the standard margin size of one inch on each side. Pages should be numbered, and the name of the company should appear on each page in the header or footer.

Use charts whenever possible as it makes it much easier for readers to consume the information in your plan.

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Other Helpful Business Plan Articles & Templates

How to Write a Business Plan (Plus Examples & Templates)

Have you ever wondered how to write a business plan step by step? Mike Andes, told us: 

This guide will help you write a business plan to impress investors.

Throughout this process, we’ll get information from Mike Andes, who started Augusta Lawn Care Services when he was 12 and turned it into a franchise with over 90 locations. He has gone on to help others learn how to write business plans and start businesses.  He knows a thing or two about writing  business plans!

We’ll start by discussing the definition of a business plan. Then we’ll discuss how to come up with the idea, how to do the market research, and then the important elements in the business plan format. Keep reading to start your journey!

What Is a Business Plan?

A business plan is simply a road map of what you are trying to achieve with your business and how you will go about achieving it. It should cover all elements of your business including: 

• Finding customers
• Plans for developing a team
•  Competition
• Legal structures
• Key milestones you are pursuing

If you aren’t quite ready to create a business plan, consider starting by reading our business startup guide .

Get a Business Idea

Before you can write a business plan, you have to have a business idea. You may see a problem that needs to be solved and have an idea how to solve it, or you might start by evaluating your interests and skills. 

Mike told us, “The three things I suggest asking yourself when thinking about starting a business are:

• What am I good at?
• What would I enjoy doing?
• What can I get paid for?”

If all three of these questions don’t lead to at least one common answer, it will probably be a much harder road to success. Either there is not much market for it, you won’t be good at it, or you won’t enjoy doing it. 

As Mike told us, “There’s enough stress starting and running a business that if you don’t like it or aren’t good at it, it’s hard to succeed.”

If you’d like to hear more about Mike’s approach to starting a business, check out our YouTube video

Conduct Market Analysis

Market analysis is focused on establishing if there is a target market for your products and services, how large the target market is, and identifying the demographics of people or businesses that would be interested in the product or service. The goal here is to establish how much money your business concept can make.

Product and Service Demand

A search engine is your best friend when trying to figure out if there is demand for your products and services. Personally, I love using presearch.org because it lets you directly search on a ton of different platforms including Google, Youtube, Twitter, and more. Check out the screenshot for the full list of search options.

With quick web searches, you can find out how many competitors you have, look through their reviews, and see if there are common complaints about the competitors. Bad reviews are a great place to find opportunities to offer better products or services. 

If there are no similar products or services, you may have stumbled upon something new, or there may just be no demand for it. To find out, go talk to your most honest friend about the idea and see what they think. If they tell you it’s dumb or stare at you vacantly, there’s probably no market for it.

You can also conduct a survey through social media to get public opinion on your idea. Using Facebook Business Manager , you could get a feel for who would be interested in your product or service.

 I ran a quick test of how many people between 18-65  you could reach in the U.S. during a week. It returned an estimated 700-2,000 for the total number of leads, which is enough to do a fairly accurate statistical analysis.

Identify Demographics of Target Market

Depending on what type of business you want to run, your target market will be different. The narrower the demographic, the fewer potential customers you’ll have. If you did a survey, you’ll be able to use that data to help define your target audience. Some considerations you’ll want to consider are:

• Other Interests
• Marital Status
• Do they have kids?

Once you have this information, it can help you narrow down your options for location and help define your marketing further. One resource that Mike recommended using is the Census Bureau’s Quick Facts Map . He told us,  

“It helps you quickly evaluate what the best areas are for your business to be located.”

How to Write a Business Plan

Now that you’ve developed your idea a little and established there is a market for it, you can begin writing a business plan. Getting started is easier with the business plan template we created for you to download. I strongly recommend using it as it is updated to make it easier to create an action plan. 

Each of the following should be a section of your business plan:

• Business Plan Cover Page
• Table of Contents
• Executive Summary
• Company Description
• Description of Products and Services

SWOT Analysis

• Competitor Data
• Competitive Analysis
• Marketing Expenses Strategy 

Pricing Strategy

• Distribution Channel Assessment
• Operational Plan
• Management and Organizational Strategy
• Financial Statements and/or Financial Projections

We’ll look into each of these. Don’t forget to download our free business plan template (mentioned just above) so you can follow along as we go. 

How to Write a Business Plan Step 1. Create a Cover Page

The first thing investors will see is the cover page for your business plan. Make sure it looks professional. A great cover page shows that you think about first impressions.

A good business plan should have the following elements on a cover page:

• Professionally designed logo
• Company name
• Mission or Vision Statement
• Contact Info

Basically, think of a cover page for your business plan like a giant business card. It is meant to capture people’s attention but be quickly processed.

How to Write a Business Plan Step 2. Create a Table of Contents

Most people are busy enough that they don’t have a lot of time. Providing a table of contents makes it easy for them to find the pages of your plan that are meaningful to them.

A table of contents will be immediately after the cover page, but you can include it after the executive summary. Including the table of contents immediately after the executive summary will help investors know what section of your business plan they want to review more thoroughly.

Check out Canva’s article about creating a  table of contents . It has a ton of great information about creating easy access to each section of your business plan. Just remember that you’ll want to use different strategies for digital and hard copy business plans.

How to Write a Business Plan Step 3. Write an Executive Summary

An executive summary is where your business plan should catch the readers interest.  It doesn’t need to be long, but should be quick and easy to read.

Mike told us,

How long should an executive summary bein an informal business plan?

For casual use, an executive summary should be similar to an elevator pitch, no more than 150-160 words, just enough to get them interested and wanting more. Indeed has a great article on elevator pitches .  This can also be used for the content of emails to get readers’ attention.

It consists of three basic parts:

• An introduction to you and your business.
• What your business is about.
• A call to action

Example of an informal executive summary 

One of the best elevator pitches I’ve used is:

So far that pitch has achieved a 100% success rate in getting partnerships for the business.

What should I include in an executive summary for investors?

Investors are going to need a more detailed executive summary if you want to secure financing or sell equity. The executive summary should be a brief overview of your entire business plan and include:

• Introduction of yourself and company.
• An origin story (Recognition of a problem and how you came to solution)
• An introduction to your products or services.
• Your unique value proposition. Make sure to include intellectual property.
• Where you are in the business life cycle
• Request and why you need it.

Successful business plan examples

The owner of Urbanity told us he spent 2 months writing a 75-page business plan and received a $250,000 loan from the bank when he was 23. Make your business plan as detailed as possible when looking for financing. We’ve provided a template to help you prepare the portions of a business plan that banks expect.

Here’s the interview with the owner of Urbanity:

When to write an executive summary?

Even though the summary is near the beginning of a business plan, you should write it after you complete the rest of a business plan. You can’t talk about revenue, profits, and expected expenditures if you haven’t done the market research and created a financial plan.

What mistakes do people make when writing an executive summary?

Business owners commonly go into too much detail about the following items in an executive summary:

• Marketing and sales processes
• Financial statements
• Organizational structure
• Market analysis

These are things that people will want to know later, but they don’t hook the reader. They won’t spark interest in your small business, but they’ll close the deal.

How to Write a Business Plan Step 4. Company Description

Every business plan should include a company description. A great business plan will include the following elements while describing the company:

• Mission statement
• Philosophy and vision
• Company goals

Target market

• Legal structure

Let’s take a look at what each section includes in a good business plan.

Mission Statement

A mission statement is a brief explanation of why you started the company and what the company’s main focus is. It should be no more than one or two sentences. Check out HubSpot’s article 27 Inspiring Mission Statement for a great read on informative and inspiring mission and vision statements. 

Company Philosophy and Vision

The company philosophy is what drives your company. You’ll normally hear them called core values.  These are the building blocks that make your company different. You want to communicate your values to customers, business owners, and investors as often as possible to build a company culture, but make sure to back them up.

What makes your company different?

Each company is different. Your new business should rise above the standard company lines of honesty, integrity, fun, innovation, and community when communicating your business values. The standard answers are corporate jargon and lack authenticity. 

Examples of core values

One of my clients decided to add a core values page to their website. As a tech company they emphasized the values:

•  Prioritize communication.
•  Never stop learning.
•  Be transparent.
•  Start small and grow incrementally.

These values communicate how the owner and the rest of the company operate. They also show a value proposition and competitive advantage because they specifically focus on delivering business value from the start. These values also genuinely show what the company is about and customers recognize the sincerity. Indeed has a great blog about how to identify your core values .

What is a vision statement?

A vision statement communicate the long lasting change a business pursues. The vision helps investors and customers understand what your company is trying to accomplish. The vision statement goes beyond a mission statement to provide something meaningful to the community, customer’s lives, or even the world.

Example vision statements

The Alzheimer’s Association is a great example of a vision statement:

A world without Alzheimer’s Disease and other dementia.

It clearly tells how they want to change the world. A world without Alzheimers might be unachievable, but that means they always have room for improvement.

Business Goals

You have to measure success against goals for a business plan to be meaningful. A business plan helps guide a company similar to how your GPS provides a road map to your favorite travel destination. A goal to make as much money as possible is not inspirational and sounds greedy.

Sure, business owners want to increase their profits and improve customer service, but they need to present an overview of what they consider success. The goals should help everyone prioritize their work.

How far in advance should a business plan?

Business planning should be done at least one year in advance, but many banks and investors prefer three to five year business plans. Longer plans show investors that the management team  understands the market and knows the business is operating in a constantly shifting market. In addition, a plan helps businesses to adjust to changes because they have already considered how to handle them.

Example of great business goals

My all time-favorite long-term company goals are included in Tesla’s Master Plan, Part Deux . These goals were written in 2016 and drive the company’s decisions through 2026. They are the reason that investors are so forgiving when Elon Musk continually fails to meet his quarterly and annual goals.

If the progress aligns with the business plan investors are likely to continue to believe in the company. Just make sure the goals are reasonable or you’ll be discredited (unless you’re Elon Musk).

You did target market research before creating a business plan. Now it’s time to add it to the plan so others understand what your ideal customer looks like. As a new business owner, you may not be considered an expert in your field yet, so document everything. Make sure the references you use are from respectable sources. 

Use information from the specific lender when you are applying for lending. Most lenders provide industry research reports and using their data can strengthen the position of your business plan.

A small business plan should include a section on the external environment. Understanding the industry is crucial because we don’t plan a business in a vacuum. Make sure to research the industry trends, competitors, and forecasts. I personally prefer IBIS World for my business research. Make sure to answer questions like:

• What is the industry outlook long-term and short-term?
• How will your business take advantage of projected industry changes and trends?
• What might happen to your competitors and how will your business successfully compete?

Industry resources

Some helpful resources to help you establish more about your industry are:

• Trade Associations
• Federal Reserve
• Bureau of Labor Statistics

Legal Structure

There are five basic types of legal structures that most people will utilize:

• Sole proprietorships
• Limited Liability Companies (LLC)

Partnerships

Corporations.

• Franchises.

Each business structure has their pros and cons. An LLC is the most common legal structure due to its protection of personal assets and ease of setting up. Make sure to specify how ownership is divided and what roles each owner plays when you have more than one business owner.

You’ll have to decide which structure is best for you, but we’ve gathered information on each to make it easier.

Sole Proprietorship

A sole proprietorship is the easiest legal structure to set up but doesn’t protect the owner’s personal assets from legal issues. That means if something goes wrong, you could lose both your company and your home.

To start a sole proprietorship, fill out a special tax form called a  Schedule C . Sole proprietors can also join the American Independent Business Alliance .

Limited Liability Company (LLC)

An LLC is the most common business structure used in the United States because an LLC protects the owner’s personal assets. It’s similar to partnerships and corporations, but can be a single-member LLC in most states. An LLC requires a document called an operating agreement.

Each state has different requirements. Here’s a link to find your state’s requirements . Delaware and Nevada are common states to file an LLC because they are really business-friendly. Here’s a blog on the top 10 states to get an LLC.

Partnerships are typically for legal firms. If you choose to use a partnership choose a Limited Liability Partnership. Alternatively, you can just use an LLC.

Corporations are typically for massive organizations. Corporations have taxes on both corporate and income tax so unless you plan on selling stock, you are better off considering an LLC with S-Corp status . Investopedia has good information corporations here .

There are several opportunities to purchase successful franchises. TopFranchise.com has a list of companies in a variety of industries that offer franchise opportunities. This makes it where an entrepreneur can benefit from the reputation of an established business that has already worked out many of the kinks of starting from scratch.

How to Write a Business Plan Step 5. Products and Services

This section of the business plan should focus on what you sell, how you source it, and how you sell it. You should include:

• Unique features that differentiate your business products from competitors
• Intellectual property
• Your supply chain
• Cost and pricing structure 

Questions to answer about your products and services

Mike gave us a list  of the most important questions to answer about your product and services:

• How will you be selling the product? (in person, ecommerce, wholesale, direct to consumer)?
• How do you let them know they need a product?
• How do you communicate the message?
• How will you do transactions?
• How much will you be selling it for?
• How many do you think you’ll sell and why?

Make sure to use the worksheet on our business plan template .

How to Write a Business Plan Step 6. Sales and Marketing Plan

The marketing and sales plan is focused on the strategy to bring awareness to your company and guides how you will get the product to the consumer.  It should contain the following sections:

SWOT Analysis stands for strengths, weaknesses, opportunities, and threats. Not only do you want to identify them, but you also want to document how the business plans to deal with them.

Business owners need to do a thorough job documenting how their service or product stacks up against the competition.

If proper research isn’t done, investors will be able to tell that the owner hasn’t researched the competition and is less likely to believe that the team can protect its service from threats by the more well-established competition. This is one of the most common parts of a presentation that trips up business owners presenting on Shark Tank .

SWOT Examples

Examples of strengths and weaknesses could be things like the lack of cash flow, intellectual property ownership, high costs of suppliers, and customers’ expectations on shipping times.

Opportunities could be ways to capitalize on your strengths or improve your weaknesses, but may also be gaps in the industry. This includes:

• Adding offerings that fit with your current small business
• Increase sales to current customers
• Reducing costs through bulk ordering
• Finding ways to reduce inventory
•  And other areas you can improve

Threats will normally come from outside of the company but could also be things like losing a key member of the team. Threats normally come from competition, regulations, taxes, and unforeseen events.

The management team should use the SWOT analysis to guide other areas of business planning, but it absolutely has to be done before a business owner starts marketing. 

Include Competitor Data in Your Business Plan

When you plan a business, taking into consideration the strengths and weaknesses of the competition is key to navigating the field. Providing an overview of your competition and where they are headed shows that you are invested in understanding the industry.

For smaller businesses, you’ll want to search both the company and the owners names to see what they are working on. For publicly held corporations, you can find their quarterly and annual reports on the SEC website .

What another business plans to do can impact your business. Make sure to include things that might make it attractive for bigger companies to outsource to a small business.

Marketing Strategy

The marketing and sales part of business plans should be focused on how you are going to make potential customers aware of your business and then sell to them.

If you haven’t already included it, Mike recommends:

“They’ll want to know about Demographics, ages, and wealth of your target market.”

Make sure to include the Total addressable market .  The term refers to the value if you captured 100% of the market.

Advertising Strategy

You’ll explain what formats of advertising you’ll be using. Some possibilities are:

• Online: Facebook and Google are the big names to work with here.
• Print : Print can be used to reach broad groups or targeted markets. Check out this for tips .
• Radio : iHeartMedia is one of the best ways to advertise on the radio
• Cable television : High priced, hard to measure ROI, but here’s an explanation of the process
• Billboards: Attracting customers with billboards can be beneficial in high traffic areas.

You’ll want to define how you’ll be using each including frequency, duration, and cost. If you have the materials already created, including pictures or links to the marketing to show creative assets.

Mike told us “Most businesses are marketing digitally now due to Covid, but that’s not always the right answer.”

Make sure the marketing strategy will help team members or external marketing agencies stay within the brand guidelines .

This section of a business plan should be focused on pricing. There are a ton of pricing strategies that may work for different business plans. Which one will work for you depends on what kind of a business you run.

Some common pricing strategies are:

• Value-based pricing – Commonly used with home buying and selling or other products that are status symbols.
• Skimming pricing – Commonly seen in video game consoles, price starts off high to recoup expenses quickly, then reduces over time.
• Competition-based pricing – Pricing based on competitors’ pricing is commonly seen at gas stations.
• Freemium services –  Commonly used for software, where there is a free plan, then purchase options for more functionality.

HubSpot has a great calculator and blog on pricing strategies.

Beyond explaining what strategy your business plans to use, you should include references for how you came to this pricing strategy and how it will impact your cash flow.

Distribution Plan

This part of a business plan is focused on how the product or service is going to go through the supply chain. These may include multiple divisions or multiple companies. Make sure to include any parts of the workflow that are automated so investors can see where cost savings are expected and when.

Supply Chain Examples

For instance, lawn care companies  would need to cover aspects such as:

• Suppliers for lawn care equipment and tools
• Any chemicals or treatments needed
• Repair parts for sprinkler systems
• Vehicles to transport equipment and employees
• Insurance to protect the company vehicles and people.

Examples of Supply Chains

These are fairly flat supply chains compared to something like a clothing designer where the clothes would go through multiple vendors. A clothing company might have the following supply chain:

• Raw materials
• Shipping of raw materials
• Converting of raw materials to thread
• Shipping thread to produce garments
• Garment producer
• Shipping to company
• Company storage
• Shipping to retail stores

There have been advances such as print on demand that eliminate many of these steps. If you are designing completely custom clothing, all of this would need to be planned to keep from having business disruptions.

The main thing to include in the business plan is the list of suppliers, the path the supply chain follows, the time from order to the customer’s home, and the costs associated with each step of the process.

According to BizPlanReview , a business plan without this information is likely to get rejected because they have failed to research the key elements necessary to make sales to the customer.

How to Write a Business Plan Step 7. Company Organization and Operational Plan

This part of the business plan is focused on how the business model will function while serving customers.  The business plan should provide an overview of  how the team will manage the following aspects:

Quality Control

• Legal environment

Let’s look at each for some insight.

Production has already been discussed in previous sections so I won’t go into it much. When writing a business plan for investors, try to avoid repetition as it creates a more simple business plan.

If the organizational plan will be used by the team as an overview of how to perform the best services for the customer, then redundancy makes more sense as it communicates what is important to the business.

Quality control policies help to keep the team focused on how to verify that the company adheres to the business plan and meets or exceeds customer expectations.

Quality control can be anything from a standard that says “all labels on shirts can be no more than 1/16″ off center” to a defined checklist of steps that should be performed and filled out for every customer.

There are a variety of organizations that help define quality control including:

• International Organization for Standardization – Quality standards for energy, technology, food, production environments, and cybersecurity
• AICPA – Standard defined for accounting.
• The Joint Commission – Healthcare
• ASHRAE – HVAC best practices

You can find lists of the organizations that contribute most to the government regulation of industries on Open Secrets . Research what the leaders in your field are doing. Follow their example and implement it in your quality control plan.

For location, you should use information from the market research to establish where the location will be. Make sure to include the following in the location documentation.

• The size of your location
• The type of building (retail, industrial, commercial, etc.)
• Zoning restrictions – Urban Wire has a good map on how zoning works in each state
• Accessibility – Does it meet ADA requirements?
• Costs including rent, maintenance, utilities, insurance and any buildout or remodeling costs
• Utilities – b.e.f. has a good energy calculator .

Legal Environment

The legal requirement section is focused on defining how to meet the legal requirements for your industry. A good business plan should include all of the following:

• Any licenses and/or permits that are needed and whether you’ve obtained them
• Any trademarks, copyrights, or patents that you have or are in the process of applying for
• The insurance coverage your business requires and how much it costs
• Any environmental, health, or workplace regulations affecting your business
• Any special regulations affecting your industry
• Bonding requirements, if applicable

Your local SBA office can help you establish requirements in your area. I strongly recommend using them. They are a great resource.

Your business plan should include a plan for company organization and hiring. While you may be the only person with the company right now, down the road you’ll need more people. Make sure to consider and document the answers to the following questions:

• What is the current leadership structure and what will it look like in the future?
• What types of employees will you have? Are there any licensing or educational requirements?
• How many employees will you need?
• Will you ever hire freelancers or independent contractors?
• What is each position’s job description?
• What is the pay structure (hourly, salaried, base plus commission, etc.)?
• How do you plan to find qualified employees and contractors?

One of the most crucial parts of a business plan is the organizational chart. This simply shows the positions the company will need, who is in charge of them and the relationship of each of them. It will look similar to this:

Our small business plan template has a much more in-depth organizational chart you can edit to include when you include the organizational chart in your business plan.

How to Write a Business Plan Step 8. Financial Statements 

No business plan is complete without financial statements or financial projections. The business plan format will be different based on whether you are writing a business plan to expand a business or a startup business plan. Let’s dig deeper into each.

Provide All Financial Income from an Existing Business

An existing business should use their past financial documents including the income statement, balance sheet, and cash flow statement to find trends to estimate the next 3-5 years.

You can create easy trendlines in excel to predict future revenue, profit and loss, cash flow, and other changes in year-over-year performance. This will show your expected performance assuming business continues as normal.

If you are seeking an investment, then the business is probably not going to continue as normal. Depending on the financial plan and the purpose of getting financing, adjustments may be needed to the following:

• Higher Revenue if expanding business
• Lower Cost of Goods Sold if purchasing inventory with bulk discounts
• Adding interest if utilizing financing (not equity deal)
• Changes in expenses
• Addition of financing information to the cash flow statement
• Changes in Earnings per Share on the balance sheet

Financial modeling is a challenging subject, but there are plenty of low-cost courses on the subject. If you need help planning your business financial documentation take some time to watch some of them.

Make it a point to document how you calculated all the changes to the income statement, balance sheet, and cash flow statement in your business plan so that key team members or investors can verify your research.

Financial Projections For A Startup Business Plan

Unlike an existing business, a startup doesn’t have previous success to model its future performance. In this scenario, you need to focus on how to make a business plan realistic through the use of industry research and averages.

Mike gave the following advice in his interview:

Financial Forecasting Mistakes

One of the things a lot of inexperienced people use is the argument, “If I get one percent of the market, it is worth $100 million.” If you use this, investors are likely to file the document under bad business plan examples.

Let’s use custom t-shirts as an example.

Credence Research estimated in 2018 there were 11,334,800,000 custom t-shirts sold for a total of $206.12 Billion, with a 6% compound annual growth rate.

With that data,  you can calculate that the industry will grow to $270 Billion in 2023 and that the average shirt sold creates $18.18 in revenue.

Combine that with an IBIS World estimate of 11,094 custom screen printers and that means even if you become an average seller, you’ll get .009% of the market.

Here’s a table for easier viewing of that information.

The point here is to make sure your business proposal examples make sense.

You’ll need to know industry averages such as cost of customer acquisition, revenue per customer, the average cost of goods sold, and admin costs to be able to create accurate estimates.

Our simple business plan templates walk you through most of these processes. If you follow them you’ll have a good idea of how to write a business proposal.

How to Write a Business Plan Step 9. Business Plan Example of Funding Requests

What is a business plan without a plan on how to obtain funding?

The Small Business Administration has an example for a pizza restaurant that theoretically needed nearly $20k to make it through their first month.

In our video, How to Start a $500K/Year T-Shirt Business (Pt. 1 ), Sanford Booth told us he needed about $200,000 to start his franchise and broke even after 4 months.

Freshbooks estimates it takes on average 2-3 years for a business to be profitable, which means the fictitious pizza company from the SBA could need up to $330k to make it through that time and still pay their bills for their home and pizza shop.

Not every business needs that much to start, but realistically it’s a good idea to assume that you need a fairly large cushion.

Ways to get funding for a small business

There are a variety of ways to cover this. the most common are:

• Bootstrapping – Using your savings without external funding.
• Taking out debt – loans, credit cards
• Equity, Seed Funding – Ownership of a percentage of the company in exchange for current funds
• Crowdsourcing – Promising a good for funding to create the product

Keep reading for more tips on how to write a business plan.

How funding will be used

When asking for business financing make sure to include:

• How much to get started?
• What is the minimum viable product and how soon can you make money?
• How will the money be spent?

Mike emphasized two aspects that should be included in every plan, 

How to Write a Business Plan Resources

Here are some links to a business plan sample and business plan outline. 

• Sample plan

It’s also helpful to follow some of the leading influencers in the business plan writing community. Here’s a list:

• Wise Plans –  Shares a lot of information on starting businesses and is a business plan writing company.
• Optimus Business Plans –  Another business plan writing company.
• Venture Capital – A venture capital thread that can help give you ideas.

How to Write a Business Plan: What’s Next?

We hope this guide about how to write a simple business plan step by step has been helpful. We’ve covered:

• The definition of a business plan
• Coming up with a business idea
• Performing market research
• The critical components of a business plan
• An example business plan

In addition, we provided you with a simple business plan template to assist you in the process of writing your startup business plan. The startup business plan template also includes a business model template that will be the key to your success.

Don’t forget to check out the rest of our business hub .

Have you written a business plan before? How did it impact your ability to achieve your goals?

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How To Write A Business Plan (2024 Guide)

Updated: Apr 17, 2024, 11:59am

Table of Contents

Brainstorm an executive summary, create a company description, brainstorm your business goals, describe your services or products, conduct market research, create financial plans, bottom line, frequently asked questions.

Every business starts with a vision, which is distilled and communicated through a business plan. In addition to your high-level hopes and dreams, a strong business plan outlines short-term and long-term goals, budget and whatever else you might need to get started. In this guide, we’ll walk you through how to write a business plan that you can stick to and help guide your operations as you get started.

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Drafting the Summary

An executive summary is an extremely important first step in your business. You have to be able to put the basic facts of your business in an elevator pitch-style sentence to grab investors’ attention and keep their interest. This should communicate your business’s name, what the products or services you’re selling are and what marketplace you’re entering.

Ask for Help

When drafting the executive summary, you should have a few different options. Enlist a few thought partners to review your executive summary possibilities to determine which one is best.

After you have the executive summary in place, you can work on the company description, which contains more specific information. In the description, you’ll need to include your business’s registered name , your business address and any key employees involved in the business. 

The business description should also include the structure of your business, such as sole proprietorship , limited liability company (LLC) , partnership or corporation. This is the time to specify how much of an ownership stake everyone has in the company. Finally, include a section that outlines the history of the company and how it has evolved over time.

Wherever you are on the business journey, you return to your goals and assess where you are in meeting your in-progress targets and setting new goals to work toward.

Numbers-based Goals

Goals can cover a variety of sections of your business. Financial and profit goals are a given for when you’re establishing your business, but there are other goals to take into account as well with regard to brand awareness and growth. For example, you might want to hit a certain number of followers across social channels or raise your engagement rates.

Another goal could be to attract new investors or find grants if you’re a nonprofit business. If you’re looking to grow, you’ll want to set revenue targets to make that happen as well.

Intangible Goals

Goals unrelated to traceable numbers are important as well. These can include seeing your business’s advertisement reach the general public or receiving a terrific client review. These goals are important for the direction you take your business and the direction you want it to go in the future.

The business plan should have a section that explains the services or products that you’re offering. This is the part where you can also describe how they fit in the current market or are providing something necessary or entirely new. If you have any patents or trademarks, this is where you can include those too.

If you have any visual aids, they should be included here as well. This would also be a good place to include pricing strategy and explain your materials.

This is the part of the business plan where you can explain your expertise and different approach in greater depth. Show how what you’re offering is vital to the market and fills an important gap.

You can also situate your business in your industry and compare it to other ones and how you have a competitive advantage in the marketplace.

Other than financial goals, you want to have a budget and set your planned weekly, monthly and annual spending. There are several different costs to consider, such as operational costs.

Business Operations Costs

Rent for your business is the first big cost to factor into your budget. If your business is remote, the cost that replaces rent will be the software that maintains your virtual operations.

Marketing and sales costs should be next on your list. Devoting money to making sure people know about your business is as important as making sure it functions.

Other Costs

Although you can’t anticipate disasters, there are likely to be unanticipated costs that come up at some point in your business’s existence. It’s important to factor these possible costs into your financial plans so you’re not caught totally unaware.

Business plans are important for businesses of all sizes so that you can define where your business is and where you want it to go. Growing your business requires a vision, and giving yourself a roadmap in the form of a business plan will set you up for success.

How do I write a simple business plan?

When you’re working on a business plan, make sure you have as much information as possible so that you can simplify it to the most relevant information. A simple business plan still needs all of the parts included in this article, but you can be very clear and direct.

What are some common mistakes in a business plan?

The most common mistakes in a business plan are common writing issues like grammar errors or misspellings. It’s important to be clear in your sentence structure and proofread your business plan before sending it to any investors or partners.

What basic items should be included in a business plan?

When writing out a business plan, you want to make sure that you cover everything related to your concept for the business,  an analysis of the industry―including potential customers and an overview of the market for your goods or services―how you plan to execute your vision for the business, how you plan to grow the business if it becomes successful and all financial data around the business, including current cash on hand, potential investors and budget plans for the next few years.

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Visualizing your business plan: How to use graphs and charts to illustrate your plan

1. exploring different types of visual representations, 2. using line charts to showcase growth patterns, 3. pie charts and bar graphs for competitive insights, 4. bar graphs and area charts to display financial forecasts, 5. visualizing key performance indicators (kpis), 6. gantt charts and timelines for project planning, 7. summarizing the impact of effective visualization on your business plan.

Visualizing data is a crucial aspect of any business plan. When it comes to conveying complex information, graphs and charts play a pivotal role. They transform raw data into meaningful insights, making it easier for stakeholders to understand trends, patterns, and relationships. In this section, we'll delve into various types of visual representations and explore how to choose the right ones for your business plan .

Let's consider different perspectives on this topic:

1. audience-Centric approach :

- Know Your Audience : Before selecting a graph or chart, consider who will be reading your business plan. Executives, investors, and technical experts may have different preferences. Tailor your visualizations accordingly.

- Simplicity vs. Detail : Strive for a balance between simplicity and detail. Too much complexity can confuse readers, while oversimplified visuals may lack depth.

- Cultural Context : Be mindful of cultural differences. Some visual representations are more common in specific regions or industries.

2. Types of Graphs and Charts :

- Line Charts : Ideal for showing trends over time. Use them to illustrate revenue growth, website traffic, or customer retention rates . For instance, a line chart depicting monthly sales can reveal seasonal patterns.

Example: Monthly Sales Trends (2019-2023)

- Bar Charts : Compare discrete categories. Vertical bars represent values, making it easy to compare quantities. Use bar charts for market share analysis, survey results, or product comparisons.

Example: Market Share by Product Category

- Pie Charts : Display parts of a whole. Use them sparingly, as they can be misleading. Pie charts work well for showing proportions, such as the distribution of marketing expenses.

Example: marketing Budget allocation

- Scatter Plots : Show relationships between two variables. Scatter plots help identify correlations or outliers. For instance, plot customer satisfaction scores against response time.

Example: Customer Satisfaction vs. Response Time

- Histograms : Depict frequency distributions. Useful for understanding data distribution , such as employee salaries or product review ratings.

Example: Salary Distribution in the Organization

- Heatmaps : Visualize data density. They're excellent for showing patterns in large datasets, like website clicks across different hours and days.

Example: Website Traffic Heatmap

3. Choosing Wisely :

- Match Data Type : Consider whether your data is categorical (e.g., product categories) or numerical (e.g., revenue). Each graph type has its strengths.

- highlight Key points : Use annotations, labels, and colors to emphasize important insights. For instance, label the highest and lowest points on a line chart.

- Avoid 3D Effects : While 3D graphs may look impressive, they often distort data. Stick to 2D representations for accuracy.

- Accessibility : Ensure your visualizations are accessible to all users, including those with visual impairments. Provide alternative text descriptions where needed.

Remember, the right choice depends on context. A sales report may require different visuals than an R&D progress update. Experiment, iterate, and seek feedback to refine your visualizations. Ultimately, the goal is to make your business plan engaging, informative, and actionable.

Exploring different types of visual representations - Visualizing your business plan: How to use graphs and charts to illustrate your plan

Sales and revenue trends play a crucial role in understanding the growth patterns of a business . By utilizing line charts, businesses can effectively showcase these trends and gain valuable insights . In this section, we will explore the significance of visualizing sales and revenue trends and provide in-depth information to help you make informed decisions.

1. Understanding the Importance:

Visualizing sales and revenue trends allows businesses to identify patterns, spot opportunities, and make data-driven decisions . By analyzing the upward or downward trajectory of sales and revenue over a specific period, businesses can assess their performance and strategize accordingly.

2. Insights from Different Perspectives:

When examining sales and revenue trends, it is essential to consider various perspectives. For instance, analyzing trends on a monthly, quarterly, or yearly basis provides a comprehensive view of the business's performance. Additionally, comparing trends across different product lines or geographical regions can offer valuable insights into market dynamics.

3. Highlighting Growth Patterns:

Line charts are an effective tool for highlighting growth patterns. By plotting sales and revenue data over time, businesses can visually showcase the trajectory of their success. For example, a line chart may reveal a steady upward trend, indicating consistent growth, or fluctuations that signify seasonal variations.

4. identifying Key factors :

Line charts can also help identify key factors influencing sales and revenue trends. By overlaying additional data points, such as marketing campaigns, product launches, or economic indicators, businesses can correlate these factors with changes in sales and revenue. This analysis enables businesses to understand the drivers behind their performance and make informed adjustments.

5. Communicating Insights:

Line charts provide a clear and concise way to communicate sales and revenue trends to stakeholders. Whether it's presenting to investors, sharing updates with the management team, or analyzing performance with employees, line charts offer a visually appealing and easily understandable representation of data.

Remember, effectively visualizing sales and revenue trends through line charts empowers businesses to make informed decisions , identify growth opportunities , and communicate their performance effectively. By leveraging these insights, businesses can drive success and achieve their goals.

Using line charts to showcase growth patterns - Visualizing your business plan: How to use graphs and charts to illustrate your plan

market Share analysis is a crucial aspect of understanding the competitive landscape in any industry. It involves the examination of pie charts and bar graphs to gain insights into the market position of different players. By analyzing market share data, businesses can identify their strengths, weaknesses, and opportunities for growth.

When conducting a Market Share analysis , it is important to consider various perspectives. Here are some key insights to consider:

1. market Share distribution : Pie charts are commonly used to visually represent the market share distribution among competitors. These charts provide a clear overview of each player's share in the market, allowing businesses to identify dominant players and potential areas for market expansion.

2. Competitive Positioning: Bar graphs can be used to compare the market share of different competitors over time. By analyzing the trends and changes in market share , businesses can assess their competitive positioning and make informed strategic decisions .

3. Market Segmentation: Pie charts can also be used to analyze market share within specific segments or customer groups. This helps businesses understand their performance in different target markets and tailor their strategies accordingly.

4. Industry Insights: Market Share Analysis can provide valuable insights into industry dynamics and trends. By comparing market share data across different time periods or regions, businesses can identify emerging competitors, market shifts, and potential threats.

5. Benchmarking: Market Share Analysis allows businesses to benchmark their performance against competitors . By comparing their market share to industry averages or leading players, businesses can identify areas of improvement and set realistic goals .

Remember, examples and specific data may vary depending on the industry and available information. It is always recommended to gather accurate and up-to-date data for a comprehensive Market Share analysis .

Pie charts and bar graphs for competitive insights - Visualizing your business plan: How to use graphs and charts to illustrate your plan

## Understanding Financial Projections

Financial projections are the backbone of any business plan . They provide a glimpse into the future, allowing you to anticipate revenue, expenses, and profitability. When it comes to visualizing these projections, bar graphs and area charts play a crucial role. Let's explore their significance from different perspectives:

1. The Investor's Lens:

- Investors scrutinize financial projections to assess the viability of your business . They want to see growth potential, profitability, and a clear path to return on investment.

- Bar graphs allow investors to compare key metrics (such as revenue, expenses, and net income) across different periods. For instance, a bar graph showing monthly revenue over a year can reveal seasonal trends.

- Area charts, on the other hand, emphasize cumulative data. They show the total revenue or expenses over time, highlighting overall trends. Imagine an area chart depicting the gradual increase in sales over several quarters—it's a compelling visual.

2. The Entrepreneur's Perspective:

- As an entrepreneur, financial projections help you make strategic decisions. Should you invest in marketing? Can you afford to hire more staff? Is expansion feasible?

- Bar graphs break down complex data into digestible chunks. For instance, a bar graph showing monthly expenses categorized by marketing, salaries, and utilities provides clarity.

- Area charts are excellent for tracking progress toward goals. Imagine plotting projected revenue against actual revenue—the shaded area between the lines reveals deviations and opportunities for improvement.

3. The Operational Angle:

- Operations managers rely on financial projections to allocate resources efficiently . How much inventory should you stock? When should you launch a new product?

- Bar graphs help allocate budgets. A bar graph showing department-wise expenses allows managers to allocate funds appropriately.

- Area charts visualize capacity utilization. If you're running a manufacturing plant, an area chart depicting production levels against capacity can guide production planning.

## Using Bar Graphs and Area Charts

Now, let's explore how to use these visual tools effectively:

1. Bar Graphs:

- Example: Suppose you're launching a new product line. Create a bar graph comparing projected sales for each product category (e.g., electronics, fashion, home goods). This helps you allocate marketing budgets accordingly.

- Insight: The tallest bar indicates the most promising category. Focus your efforts there.

2. Area Charts:

- Example: Imagine you're a subscription-based service . Use an area chart to show cumulative subscribers over time. The rising area represents growth.

- Insight: If the area starts plateauing, it's time to rethink your marketing strategy .

Remember, financial projections are not crystal balls—they're educated estimates. Be conservative yet realistic. And always annotate your graphs with context (e.g., assumptions, market trends) to enhance understanding.

In summary, whether you're wooing investors, making strategic decisions , or optimizing operations, bar graphs and area charts are your trusty companions on the entrepreneurial journey.

Bar graphs and area charts to display financial forecasts - Visualizing your business plan: How to use graphs and charts to illustrate your plan

1. Why Operational Metrics Matter:

Operational metrics serve as the pulse of your business. They help you monitor processes, track performance, and identify areas for improvement. Whether you're running a small startup or managing a large corporation, understanding your operational metrics is crucial. Here's why:

- Efficiency Assessment: Metrics like cycle time , throughput , and utilization reveal how efficiently your resources (people, machines, etc.) are utilized.

- Quality Control: Metrics such as defect rate , rework percentage , and customer complaints highlight quality issues.

- Cost Management: Metrics like cost per unit , overhead expenses , and waste reduction impact your bottom line.

- Risk Mitigation: Metrics related to downtime , inventory turnover , and lead time help manage risks.

2. Choosing the Right Metrics:

Not all metrics are created equal. Select KPIs that align with your business goals and industry. Here are some common operational metrics:

- inventory Turnover ratio : Measures how quickly inventory is sold or used up.

- customer Acquisition cost (CAC): Calculates the cost of acquiring a new customer .

- Employee Productivity: Tracks output per employee (e.g., widgets produced per hour).

- Customer Lifetime Value (CLV): Predicts the value a customer brings over their lifetime.

- On-Time Delivery Rate: ensures timely delivery to customers.

- website Conversion rate : Measures the percentage of website visitors who take a desired action (e.g., making a purchase).

3. Visualizing Metrics:

Visualizations make data more digestible. Consider using:

- Line Charts: Show trends over time (e.g., monthly revenue).

- Bar Charts: Compare values (e.g., sales by product category).

- Pie Charts: Display proportions (e.g., market share).

- Heatmaps: Reveal patterns (e.g., peak hours for customer support calls).

- Dashboards: Combine multiple visualizations for a holistic view.

4. Examples:

- Imagine you run an e-commerce store . You create a dashboard with line charts showing daily website traffic, conversion rates, and revenue. By spotting trends, you can adjust marketing strategies.

- In a manufacturing plant, a bar chart compares production output across shifts. If the night shift consistently lags, you investigate why.

- A logistics company uses a heatmap to visualize delivery delays by region. This helps allocate resources effectively .

5. Avoid Pitfalls:

- Vanity Metrics: Beware of metrics that look impressive but lack actionable insights (e.g., total social media followers).

- Context Matters: Always consider context. A high defect rate might be acceptable for low-cost items but disastrous for medical devices.

- Data Accuracy: Garbage in, garbage out. ensure data accuracy before visualization.

Remember, operational metrics are not static. Regularly review and adapt them as your business evolves. By visualizing KPIs effectively, you empower your team to make data-driven decisions and steer your ship toward success!

Visualizing key performance indicators \(KPIs\) - Visualizing your business plan: How to use graphs and charts to illustrate your plan

## The importance of Project milestones

Project milestones serve as critical markers along the project journey. They represent significant achievements, deadlines, or events that help track progress and keep the team aligned. Here are some insights from different perspectives:

1. Project Managers:

- Navigational Beacons : Project milestones act as navigational beacons, guiding the team through the project's complex terrain. They provide clarity on what needs to be accomplished by specific dates.

- Risk Mitigation : Identifying milestones allows project managers to assess risks and allocate resources effectively. For instance, if a critical milestone is delayed, corrective actions can be taken promptly.

- Stakeholder Communication : Milestones facilitate transparent communication with stakeholders. They offer tangible evidence of progress and build confidence in the project's trajectory.

2. Team Members:

- Motivation and Focus : Milestones break down the project into manageable chunks. Achieving them provides a sense of accomplishment and motivates team members.

- Dependencies and Sequencing : Team members can understand the sequence of tasks and their dependencies. For example, completing the design phase is a milestone before starting development.

- Collaboration : Milestones encourage collaboration. When everyone knows what's expected at each stage, collaboration becomes smoother.

3. Clients and Investors:

- Assurance : Clients and investors want assurance that the project is progressing as planned. Milestones serve as proof of progress and adherence to timelines.

- Decision Points : Milestones are decision points. For instance, a prototype demonstration milestone allows clients to evaluate progress and provide feedback.

- Financial Planning : investors need to allocate funds strategically. Milestones help them release funds at appropriate intervals.

## Using Gantt Charts and Timelines

Now, let's explore how Gantt charts and timelines enhance project milestone visualization:

1. Gantt Charts :

- A Gantt chart is a powerful visual tool that displays project tasks, their durations, and dependencies over time.

- Horizontal Bars : Each task is represented by a horizontal bar. The length of the bar corresponds to the task duration.

- Milestone Markers : Gantt charts include milestone markers (diamonds or triangles) at significant points. These represent project milestones.

- Example : Imagine a software development project . The "Database Design" milestone occurs after completing the requirements gathering phase. The Gantt chart visually shows this transition.

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Example Gantt Chart:

| Task | Duration | Milestones |

| Requirements Gathering | 2 weeks | |

| Database Design | 1 week | ● |

| Development | 6 weeks | |

| Testing | 2 weeks | ● |

| Deployment | 1 week | ● |

2. Timelines :

- Timelines provide a linear representation of project events.

- Horizontal Line : The timeline extends horizontally, with milestones placed at specific points.

- Example : Consider an event planning project. The "Venue Booking" milestone occurs on a specific date. The timeline visually highlights this moment.

Example Timeline:

| Event Planning Timeline |

| Jan 15 | ● Venue Booking

| Feb 15 | ● Caterer Confirmation

## Conclusion

In summary, project milestones are like signposts on a journey. They guide us, keep us on track, and celebrate our progress. Whether you're using Gantt charts, timelines, or a combination of both, visualizing milestones ensures that your project stays on course toward success. Remember, it's not just about reaching the destination; it's about appreciating the journey—one milestone at a time.

Gantt charts and timelines for project planning - Visualizing your business plan: How to use graphs and charts to illustrate your plan

1. Enhanced Clarity and Understanding :

- Effective visualizations distill complex information into digestible formats. When stakeholders, investors, or team members review your business plan , clear charts and graphs can help them quickly grasp key points.

- Example: Imagine presenting a revenue forecast using a well-designed line chart. Trends become evident, and the impact of various factors (seasonality, marketing campaigns, etc.) becomes apparent.

2. Engagement and Retention :

- Visuals capture attention and keep readers engaged. People tend to remember information better when it's presented visually.

- Example: A bar chart illustrating market share growth over time can leave a lasting impression , reinforcing your plan's core message.

3. Effective Communication :

- Visuals transcend language barriers. Whether you're sharing your business plan with an international audience or presenting to non-experts, charts and diagrams convey meaning universally.

- Example: A world map showing your global expansion strategy communicates volumes without requiring lengthy explanations.

4. data-Driven Decision-making :

- Visualizations provide insights that drive informed choices. When you visualize data, patterns emerge, outliers become visible, and correlations are apparent.

- Example: A scatter plot showing the relationship between customer satisfaction scores and product features can guide product development priorities.

5. Persuasion and Buy-In :

- Investors and stakeholders are more likely to support your plan when they can visualize its potential impact. Visuals create an emotional connection.

- Example: A stacked area chart depicting revenue streams (e.g., subscriptions, ad revenue, product sales) can convince investors of your diversified income sources.

6. risk Assessment and mitigation :

- Visualizations highlight risks and opportunities. By visualizing market trends , competitive landscapes, and financial projections, you can proactively address challenges.

- Example: A heat map showing potential risks (e.g., supply chain disruptions , regulatory changes) helps you allocate resources wisely .

7. Alignment and Consensus :

- When team members collaborate on a business plan, visualizations foster alignment. Everyone sees the same data, reducing misunderstandings.

- Example: A Gantt chart outlining project timelines ensures everyone agrees on milestones and dependencies.

8. Storytelling and Narrative :

- Visuals weave a compelling narrative. They guide readers through your plan, emphasizing critical points and creating a cohesive story.

- Example: A flowchart illustrating the customer journey—from awareness to conversion—can make your plan more relatable.

Effective visualization isn't just about aesthetics; it's a strategic tool that empowers your business plan. By leveraging data-driven visuals, you enhance understanding, engage stakeholders, and pave the way for success. Remember, a picture is worth a thousand words—especially in the world of business planning!

Summarizing the impact of effective visualization on your business plan - Visualizing your business plan: How to use graphs and charts to illustrate your plan

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Home Blog Business Plan Formatting Tips for Business Plans: Use of Charts and Graphs

Formatting Tips for Business Plans: Use of Charts and Graphs

Home » Formatting Tips for Business Plans: Use of Charts and Graphs

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People usually ask how many charts or graphs should be put in business plans. It really depends. There are key factors that determine the number of charts and graphs needed in every business plan.

To start, the essential point to think about in creating your business plan is the time constraints of your target audience. If he or she is a retired angel investor, he might have other duties but could spend an hour reviewing your business plan. The more probable situation is a venture capitalist, loan officer or corporate buyer reviewing your business plan on his or her desk topped with numerous other business plans. Therefore, it is crucial that your business plan conveys the important key points easily and quickly. This is where charts or graphs come into picture.

In deciding whether to use a chart or graph, think about the old saying, “a picture is worth a thousand words” The purpose here is that the image should save a thousand words. In other words, the chart or graph must supplement the text; it should not be discussed in the text, or that defeats its purpose. Likewise, the chart or graph should be relevant and should support the text rather than veer away from it.

Apart from respecting the time restraints of the targeted audience in the business plan, there must also be respect given to the audience’s level of energy. In other words, after reviewing several business plans, the investor will most probably skip pages with 400 or more words of straight text. Even though no charts would be applicable to supplement the page, business plan consultants highly suggest using the appropriate spacing and callout boxes to make pages more readable.

Certainly, operational designs and technical drawings must be visually and adequately presented in business plans. Without them, enormous volumes of text are usually needed to describe relatively simple procedures. Significantly, once the text references the graphs, the graphs should be readily accessible. In other words, the graph should be on the exact same page as the text, instead of forcing the reader to turn to the appendix. If the graph is referenced on multiple pages, every page must demonstrate the piece of the graph that reflects the text, together with the entire graph appearing just once in the business plan.

Lastly, when the business plan is being reported to one or more investors, then the number of charts and graphs should reflect the needs, wants and sophistication of the few readers. As an example, if the readers are strategic investors, who know and understand the industry, the business plan should be presented with more charts to convey the message which these strategic investors have knowledge on.

Always remember that the business plan is not a PowerPoint presentation. Too many charts and graphs may give the impression that the business is too lazy to finish formulating a formal business plan.

In summary, the number of graphs and charts used in business plans should reflect important points of the business plan for an audience that is usually energy and time constrained. The graphs and charts must supplement the text and allow the audience to easily and readily digest the data, and influence the audience in progressing to the next step (e.g., scheduling a personal meeting) in the investment process.

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Gantt chart for business plans

Whether you’re in the first steps of launching a startup or you want to expand your existing business, a well-thought-out business plan is important. In fact, simply writing a business plan can increase your chances of success by more than 15% . Creating a Gantt chart for business plan purposes makes it easier for you to visualize the steps required to turn your idea into a reality.

In this article, we’ll look at what a Gantt chart is and how you can use it to plan for your business. We’ll also provide some tips for using monday.com as a business planning and management tool and highlight some templates you can use right away to bring everything and everyone together for increased success.

What is a Gantt chart?

A Gantt chart is a horizontal bar chart that provides a visual representation of tasks across planned time periods.

Gantt chart tools are traditionally used to help team members manage project schedules, but you can customize them to help manage any series of tasks you need to accomplish over a set period of time.

Can you use a Gantt chart for business planning?

, You can use a Gantt chart for business planning purposes, whether you’re working on project plans for an existing business or want a way to better manage tasks when launching a startup. Here are some ways you can use Gantt chart software for business planning:

• Create an action plan for a business launch:  Gantt chart templates let you turn the narrative format of an actual business plan into a visual action plan, with start and end dates, milestones, and dependencies that help you know what you need to do first to start working on your business dream.
• Plan for a specific business-related project:  At any phase of your business, you can create simple Gantt charts to manage project tasks that help you work toward success. For example, you might want to open a new location. Customize your Gantt charts to lay out the task list for getting that done, so you can stay organized along the way.
• Create a work breakdown structure for a specific department:  Established businesses can use project management tools like Gantt charts to manage time-dependent efforts for specific departments. For example, your marketing department may need to scale up their efforts during the holiday season.

You  can use a project Gantt chart for a variety of business plan and management purposes, but should you? Digging into the benefits of Gantt charts for business planning can help you make a good choice for your situation.

Benefits of a Gantt chart for business planning

Some benefits of a Gantt chart for business planning include:

• Ability to view the big picture:  When you can visualize the overall picture of your business plan, you can avoid getting bogged down in the details. You can also make proactive decisions that are best for your business goals.
• Better task tracking:  Gantt charts help you keep track of tasks in real-time, ensuring you or your team can work through the right assignments quickly.
• Full transparency of dependencies:  Gantt charts make it easy to indicate and understand which tasks are dependent on others — i.e. if you have to complete one task before moving to another. It also helps you understand when teams can tackle tasks simultaneously, so they can get more done.
• Increased insight for delegation:  If you see tasks that can run simultaneously, you know you can’t do both yourself. This can be a clue that it’s time to delegate some work to others.
• Creation of realistic timelines:  Gantt charts force you to apply start and end dates to the entire project or effort, as well as all tasks that are part of it. Forcing you to think about how long each task might take helps ensure you understand how long the overall process might take.

monday.com’s robust Work OS includes a designated Gantt View — as one of 8+ views —, Gantt chart templates, and plenty of other project management functions for business planning.

Gantt charts and other features for business planning on monday.com

Whether you’re collaborating on a business plan document with others, are ready to market your business idea on social media, or want to integrate other software to manage business processes, monday.com can help. Here are some monday.com features you might use for business planning and management:

• monday workdocs : Draft and co-edit documents in real-time, and discuss changes via comments with team members.
• Automations : Save time and avoid unnecessary meetings with custom workflow automations that help drive seamless handoffs and ensure tasks never get lost in the shuffle.
• Files Column: Keep all your files in one location to make it easy for teams to reference policies, brainstorming notes, and other information as they implement a business plan.
• Integrations: Seamlessly integrate your favorite tools withmonday.com —Dropbox, Slack, Microsoft Teams, Outlook, Google, Excel, and Zoom are just a few of the many available options.

We’ve also got plenty of curated templates to help you specifically work on business plans and get started faster

Related templates

Besides a Gantt chart example for projects, here are just a few free templates available exclusively on monday.com that can help you plan and manage business efforts more efficiently.

• Simple Business Plan Template : Start with our Simple Business Plan Template if you’re working with a team to launch a new startup or service line. Collaborate with others easily on one intuitive and customizable board as you define vision and goals, customer needs, market size and scope, and everything in between for business success.
• One-Page Business Plan Template : Quickly collaborate or capture your own ideas on our One-Page Business Plan Template. This simple template is customizable, and you can use it to document plans for each business idea and then ask for feedback or compare your options before choosing one to act on.

Still not sure if a Gantt chart is right for your business planning needs? We’ve got a couple of FAQ answers that might help.

FAQs about Gantt charts

What three things are included in a gantt chart.

Gantt charts are made of a variety of elements, but the three main items you’ll find on any Gantt chart are:

• The overall timeline, which shows when a project or effort starts and ends
• Tasks, which show up on the horizontal bars of the chart
• Dependencies, which indicate which tasks are required before other tasks can begin

How do you create a Gantt chart in Excel?

You can download a Gantt chart template from Microsoft that helps you create a Gantt chart in Excel. You can also set up your own when you create a project by creating a horizontal axis that acts as a dated timeline and including color-coded tasks in cells on each row.

What makes a good Gantt chart?

A good Gantt chart requires planning project management, tasks, or efforts that can be tracked over time. The time period should be short enough that you can successfully capture it in a visual, and the project should have enough tasks to track to support the effort of making a Gantt chart to begin with.

Powerup your business plans with monday.com

Whether you want to collaborate on a Gantt chart for a business plan or automate activities to ensure the right people get things done, monday.com’s powerful Work OS can help.

Get started today with drag-and-drop capabilities that make it super easy to build a business plan, Gantt chart, and many other process tools. Then communicate in real-time over the life of your project or effort to ensure seamless collaboration and success.

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How to Create a Small Business Organizational Chart in 4 Easy Steps

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Whether you're just starting out or have been in business for a while, creating and maintaining a business organizational chart can be an extremely helpful way to illustrate how your company operates and can also be used to show how you're going to grow and change in the future.

What is a small business organizational chart? A business organizational chart, sometimes also referred to as a "business org chart," is a visual representation of the structure of your business—it outlines the role of each employee and clarifies who reports to whom within your company. In many cases, developing and updating this chart will fall under the purview of your small business HR department, but if you don't currently have a separate human resources branch (or even if you do) it's worth understanding how these tables work and how to create one.

In this guide, therefore, we'll explain exactly how to create a business organization chart in four simple steps—discussing the various types of diagrams you can choose from, as well as the different goals you should consider when making an org chart for your company.

How to create a business organizational chart

Although looking at business organizational chart examples can be overwhelming, creating one of these diagrams for your company can be broken down into four easy steps. By taking this process one step at a time, you'll be able to decide which type of chart is best for your business and ultimately, develop a table (like many other operational documents you have) that can be utilized throughout the lifecycle of your business. With this in mind, let's get started:

Step 1: Decide how to structure your business organizational chart.

The first step in creating an org chart for your business is deciding what type of chart you want to use. Generally, there are four popular designs to consider and you'll want to choose the one that best suits your business's needs.

Hierarchical business organizational chart

To begin, a hierarchical diagram starts at the top of the business and works its way down the chain of command (as you can see below). A vertical line between individuals indicates that the employee above directly supervises the employee below. Hierarchies also show lateral relationships, where two people are on equal footing within the business framework, but may still collaborate or share responsibilities—these charts use horizontal lines to connect lateral workers. The business organization chart here shows how the company is structured starting with the CEO and progressing through the rest of the company.

Overall, most small businesses use a hierarchical organizational chart because it’s the simplest option. This being said, you can use this type of business org chart even if you only have a few names to fill in—as your business grows, it's easy to add new employees.

Functional business organizational chart

Next, you might consider a functional business organizational chart if your company is large enough to divide employees into departments. This type of diagram shows the head of each department and all the individuals who report to them. A functional chart is not entirely distinct from a hierarchical chart, but it does have a slightly different emphasis based on the different departments.

You can use this same information in all small business organization charts:

Name of employee (leave blank if the position is open)

Department (sales, marketing, accounting, operations, etc.)

Position or job title (sales representative, supervisor, account manager)

Description of duties (a brief phrase or two should be sufficient)

Location (if you have more than one office)

Contact information (physical address, phone number or extension, business cell phone number, work email address)

Photo (to recognize each other with ease)

As you can see, although the functional small business org chart is fairly similar to the hierarchical option, this diagram can be useful for distinguishing departments, giving a larger insight into how your company functions in this specific way.

Matrix business organizational chart

The third option, called a matrix or cross-functional business organizational chart, is useful if workers report to multiple supervisors. Like hierarchical graphs, matrix org charts illustrate the immediate supervisory relationships between employees, but they also show the project manager, team, or department to which an employee reports. Solid lines once again indicate that an individual is the primary manager of the person below them. Dotted lines demonstrate a less direct, but nonetheless important, reporting connection.

As this org chart from the Project Management Institute shows, the matrix small business organizational chart is often used by companies with project managers that work across different teams. Similarly, you may find that product, research, and engineering-based companies are more likely to utilize this type of diagram to illustrate their business structure.

Circle business organizational chart

Finally, the last option to consider is the circle business org chart. The circle diagram has become increasingly popular, especially among startup small businesses that wish to discard traditional business hierarchies. The idea behind these graphs is that all teams—and the employees that comprise them—play an equally important role in the company.

Once again, although this example shows dummy text, you can see how you would complete the chart based on your business's information. Each department makes up a spoke in the wheel and the employees within are listed in each section. As we discussed above, you would fill in essential information for each employee—name, job title, brief description, contact information, etc.

Ultimately, this first step may take time—you'll want to consider your business as it exists now and how you want it to grow—that way, you can determine which of these four org chart options will work best for illustrating your company structure.

Step 2: Collect employee information and categorize the data.

Now, once you’ve decided on the type of business organizational chart you’ll use, the rest of your chart development is fairly straightforward.

For your next step, therefore, you'll want to write a list of all the employees at your company and include the pertinent information about them that we mentioned above.

If you selected a hierarchical chart, you'll place each individual in their proper order on the list. The business owner occupies the first tier, anyone who reports directly to them belongs on the second tier, and the chart progresses from there. If you chose a functional or circle chart, you'll organize your list by each department, as shown in the examples we explained above. Finally, if you opted for a matrix small business org chart, you'll want to be sure to make note of all supervisory relationships.

Step 3: Decide how you'll complete your business org chart.

After you've gathered all of the information you need for your employees and categorized it based on the chart type you've selected, you'll want to determine how you're going to complete your chart. As you saw in our examples above, there are images and small business org chart templates you can download and edit using a software program like Adobe Photoshop.

On the other hand, you might choose to create your business organizational chart in a simple, reliable program you might already own, like Microsoft Office (Excel, Outlook, PowerPoint, or Word) or Google Sheets. You also have the option to purchase a template from a provider like SmartDraw or Lucidchart. To make the most out of your investment, however, you might consider purchasing an HR or payroll software that includes this functionality (among other features). As an example, Gusto's all-inclusive platform allows you to create an org chart within their system, as well as manage your essential payroll and HR tasks.

Although technically , you could diagram your small business org chart by hand, if you use an online template or software, you can modify your graph with ease as your business expands and staff changes.

Step 4: Fill in your business organizational chart and file it securely.

Finally, once you've chosen how you're going to complete your org chart, you'll be ready to actually fill it in.

With the data you've compiled, you'll fill in each box or branch of the chart that you’ve picked. Once again, if your diagram is hierarchical, you'll start with the owner or CEO of the business at the top. Then, you'll create a box below the owner for each person who is an immediate report, and draw a solid vertical line down from the proprietor to each of these supervisees. You'll continue this process for each layer in the company chain of command, and move down the corporate ladder until you’ve placed every employee on the chart.

If your graph is a functional design, you'll fill in the primary boxes with the information for the head of each department and the remainder with the information for every individual they directly manage. You'll follow the same procedure with a matrix chart—with this chart, however, don't forget to include secondary managers to the side of each department, and make dotted lines (or some other distinction) between boxes to represent those additional supervisory relationships.

Last, with a circle chart, you'll add the information employees and duties of each department to the corresponding pie slice, and your diagram is complete.

Once you've completed your small business org chart, you'll want to be sure you save it in a secure location—if you're not utilizing an HR software or another program that allows you to save it within that system. You'll want to keep your organizational chart on hand to update as your business grows and changes.

Along these lines, it's also helpful to store a copy of your org chart on a shared company server, drive, or employee portal so that everyone in your company can see it (but not change it)—this way, everyone in your organization can understand how the company is structured and refer back to the chart as needed.

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Small business organizational chart templates

If you're not ready to invest in a software platform to build your diagram, you may be interested in exploring different small business organizational chart templates. As we mentioned, there are well-known solutions, like Microsoft Office, that offer org chart templates that you can download and use for your business. Let's look at a few examples:

Microsoft Office : Within the templates section of the Office website, you can find various, free business org chart templates that you can download for free and customize within PowerPoint, Word, or Excel. For a simple hierarchical chart option, you might start with this "Minimal organization chart."

24Slides : Among other business template options, 24Slides offers free small business org chart templates that you can copy and edit within Google Slides. They also offer these templates in different types including the classic hierarchical chart, as well as the circle chart.

Canva: Image editing and graphics platform Canva allows you to design and customize your own business organizational chart (for free, you just need to sign up for an account) using their system.

Vizzlo : Although Vizzlo does offer paid plans, with their free version, you can access over 100 different chart types, including small business org templates. Plus, you have the option to edit your template within Vizzlo, or create your chart direct in PowerPoint or Google Slides using a Vizzlo integration.

Of course, these are only a few options—there are numerous additional templates and examples you can find by searching and browsing online.

The benefits of a business org chart

As we've shown through our four-step guide, creating a business organizational chart can be a fairly straightforward and simple process. However, if you're just starting out, or don't have a dedicated employee or department to work on developing this graph, you may be wondering if you really need an org chart. Ultimately, the decision is up to you—but, to this end, it's worth highlighting some of the benefits of one of these diagrams and why they can be so useful for your small business.

Clarify management structure

If you're just starting your business the process necessary to construct a business organizational chart forces you to officially distribute tasks and flesh out the roles of each individual and the purpose of each department in your enterprise. This avoids confusion later, as your business grows. Of course, you can always restructure your business organizational chart down the road—however, if you outline the expectations for each position early on, you’re already a step ahead in the entrepreneurial process.

On the other hand, if your company is more established, a business org chart helps both new and existing employees to understand where they fit within the company’s framework, which clarifies any questions regarding the chain of command. This transparency saves time and increases efficiency, as workers can consult your organizational chart and determine exactly who to speak with when faced with a given issue. Plus, if your business organizational chart is well-structured, your employees will already know not just the name of the proper individual to consult, but also what position they hold and what responsibilities they oversee.

Increase operating efficiency

Another benefit of creating and maintaining a small business org chart is that by doing so, you can examine your company’s current structure and unearth potential ways to improve it. Are certain employees responsible for too many tasks, and others too few? Is there unnecessary overlap between individual workers? Are there any duties that fall through the cracks? Should you reorganize in order to meet those needs, hire additional workers, or possibly even outsource these assignments? You may find that you can better utilize the workers you already have, and thereby increase productivity.

A business organizational chart can also improve cross-functional communication throughout your business, which leads to more effective project management. It’s easier to accomplish tasks that involve multiple workers or teams when the reporting structure is clear, and everyone knows who to talk to about what.

Demonstrate current success

Even if you think that your business wouldn’t benefit from an organization chart, you may find that potential lenders want to see one when you're applying for financing. Similar to a business plan, banks, institutions like the SBA, and potential investors want assurance that you’ve carefully considered the structure of your business, as such preparation is often an indicator of future success.

As financial professionals, they’ll also want to ensure that the business organizational method you’ve chosen is one that they believe is likely to prosper—so that you can pay back your potential business loan on time.

Facilitate future planning

Finally, a small business organizational chart can help you prepare for the evolution and expansion of your business. In this vein, we'd recommend that you create two versions of your organization chart: one that reflects your current company structure and one that shows your growth objectives. You might even consider additional charts that indicate how you might reorganize should unexpected changes occur, like reductions in funding or the sudden departure of a key employee.

Your second business organizational chart, of course, will have a lot of blank spaces—room for all the positions you’d like to fill in the future as implement your business growth strategies. In this way, you can use your chart to find possible holes that exist in your current staffing, and you’ll have a built-in roadmap for future hiring.

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The bottom line

At the end of the day, taking the time to plan and create a business org chart can be extremely beneficial for your small business—now and in the future. Whether you develop this diagram yourself, or work with your team to do so, you can follow our four simple steps to complete the process relatively quickly and easily.

Plus, if you already utilize a payroll or HR software, you can check to see if your platform already includes an org chart builder. If it doesn't, you might decide to use one of the templates we've discussed here. On the other hand, if you don't have an HR or payroll software, you might consider exploring some of the top options out there—Gusto, Zenefits, etc.—as any of these solutions will not only allow you to create a small business org chart, but will also help you efficiently and effectively an important part of your day-to-day operations.

This article originally appeared on JustBusiness, a subsidiary of NerdWallet.

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Blog Beginner Guides How to Create a Small Business Organizational Chart

How to Create a Small Business Organizational Chart

Written by: Letícia Fonseca Jun 09, 2023

No matter the size of your business, whether you’re starting out or already established, creating an organizational chart for small business planning is a necessary exercise.

There are numerous reporting relationships to visualize, especially when you have more than one manager in your small business.

Making an organizational chart can feel challenging, but this guide will make it easier to design an organizational chart that reflects many types of corporate structure.

Or you can customize a Venngage organizational chart template to create a chart that reflects your management structure in just a few minutes.

Click to jump ahead:

What is an organizational chart?

• Organizational charts for small businesses examples

What is the purpose of organizational charts for a small business?

How to make an organizational chart for a small business, faqs about organizational charts.

An organizational chart, or an org chart, provides a visual representation of an organization’s internal structure. It outlines relationships between departments and employees, establishes the chain of command in an organization, and defines the role of each staff member.

You can see how this hierarchical organizational chart example structures the employees of a company.

The most common structure has small business owners, or the chief executive officer, listed on the top.

Other C-suite executives or the vice president are listed below them. Department managers and team leaders are below them, followed by employees.

An org chart helps you navigate your company and can be included in onboarding documents for new employees to familiarize themselves with the organizational structure.

You can make the organizational chart your own by adding your branding to the diagram.

Venngage’s  My Brand Kit  feature imports your brand identity from your website so you can apply it to your designs.

Organizational chart for small businesses examples

There are two basic types of organizational charts for a small business:

• flat organizational structure
• hierarchical organizational structures

Flat organizational structure

A flat org chart or horizontal organizational structure is composed of limited or no middle management between lower-level employees and upper management, like in this  organizational chart example .

This type of organizational chart is common for small businesses and startups in their initial years of operation.

As this structure does away with several levels of management, it enables employees to quickly and independently make choices.

The decision-making power for the business is shared among employees on the same level, and they are held accountable for their decisions.

Hierarchical Organizational Structure

A hierarchical structure or top-down chart is shaped like a pyramid.

It is a traditional reporting structure adopted by most companies.

Hierarchy charts look like this:

A single person or a group is seated at the top, followed by managers in the middle and the rank-and-file employees at the bottom.

The organizational chart is divided into different departments with each employee reporting directly to a supervisor. This is most commonly used by large organizations and government units.

Create the right type of organization chart for your business with Venngage’s real-time collaboration feature. With a  Venngage business account, you can add team members, and share comments and feedback simultaneously.

An organizational chart offers a number of advantages to small businesses. 

We share the biggest benefits of creating org charts below.

An organizational chart improves communication across teams

When a small business starts growing, people’s new job titles can become confusing.

When merging with larger organizations with several teams and departments, in this example, it becomes crucial that the structure is tracked.

Understanding the hierarchy in the workplace is essential, so you know who your immediate supervisor is and whom to approach in case some issues arise.

A matrix organizational chart makes it easier to see which employees are involved in a project, and who the project manager or executive is. This improves efficiency across the entire organization.

Organizational charts enable easy onboarding for new employees

For new hires to find their way around the office can be quite challenging.

But presenting your organizational structure, like the template below, will facilitate the  onboarding process  and orient the employee to the chain of command.

Organizational charts can also help guide new hires through the specific functions and work responsibilities of coworkers.

The diagram serves as a cheat sheet, showing them the person to whom they should go for what information.

Organizational charts boost employee productivity

A matrix organizational structure expedites processes in the workplace as it shows the roles and responsibilities of each employee.

This helps reduce the time spent looking for the right people for the right task.

This organizational chart template also includes assistant managers so employees don’t need to go to the top managers for simple problems.

Instead of wasting time searching for information that would otherwise be found in an org chart, the employee becomes productive and efficient.

The organizational chart also prevents overlapping and duplication of work as it identifies positions and tasks assigned to each individual.

These details in org charts also help forge relationships among other employees.

An organization chart facilitates business growth

Employers can also get a clear view of the organizational structure, like in the template below.

They will know where an employee is positioned and the tasks they undertake. This makes it easier for the employer to determine which part of their organization needs improvement.

By taking a step back, owners can see which department is in need of additional manpower and which is overstaffed.

An org chart helps executives organize their workforce and ensure that managers have enough workforce to achieve company goals and objectives. Additionally, it can assist in tracking the distribution of small business loans across departments, leading to better growth.

Create your small business’ organizational chart by following these simple steps.

Step 1: Determine the structure you want your business to follow

The first thing to do when making an org chart is to determine the corporate structure it will follow.

Choose the one that best suits your business needs from the two types of organizational structure discussed above: the flat org structure or the hierarchical organizational chart.

Step 2: Choose an org chart software

Creating an org chart might come as a challenge to some. But there are numerous free or paid tools online that can help. One of the best solutions is Venngage’s organizational chart maker.

We have plenty of professional smart org chart templates that can be easily edited with just a few clicks. Our library of visuals includes 40,0000+ icons as well as over 4 million high-quality free stock images. 

Step 3: Fill out the organizational chart template with your information

With the necessary data you have compiled, you can start filling out the chart templates from Venngage’s online org chart maker.

Collaborate with your team in real-time with a  Venngage business account . And once you’re done, you can download the chart as a high-quality PNG or PDF.

How can you create a small business organizational chart with Venngage?

Sign up for a free Venngage account using your email, Google, or Facebook profile.

Choose one of Venngage’s wide array of organizational chart templates for small businesses. To add information, titles, and visuals to your org chart, use Venngage’s drag-and-drop smart editor.

Then customize your org chart easily. Add or remove nodes in your org chart by clicking on the ‘+’ or ‘-‘ buttons. When you change the text or images, the nodes automatically resize to fit the content. Then you can download your organizational chart as a PNG or PDF file. Or share your design directly with your team through a private link.

What is a good organizational structure?

An organizational structure is deemed good when it helps a business reach its objectives. It should also be designed to aid individual employees’ growth. Additionally, org charts should reduce conflicts between individuals and team members, and remove duplication and overlapping of work.

Make your org chart for your small business today

Streamlining communication and driving efficiency has never been easier than with the help of organizational charts. It is an effective management tool that can help improve team performance for planning purposes. Org charts also act as a visual personnel directory.

To help you organize your teams and ultimately lead them to success, use the organizational chart examples that we’ve shared in this post. These Venngage templates will help your company’s overall performance in the long run.

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Gantt Chart Examples, Templates, and Styles

By Diana Ramos | October 31, 2022

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Gantt charts are the bread and butter of project scheduling. We’ve assembled dozens of example images and templates to help you make the best Gantt charts possible. 

Included on this page, you’ll find 30 downloadable Gantt charts, with helpful examples for marketing , software development , project management , product development , and human resources . Plus, read expert tips on making Gantt charts for various formats , including Google Sheets, Excel, Microsoft Word, and more.

What Does a Gantt Chart Look Like?

A Gantt chart is a simple bar chart that shows all the tasks, events, and milestones in a project. The x-axis depicts the project timeline, and the y-axis depicts project phases. Each horizontal bar represents a project task. 

In most Gantt charts, the current date is represented by a vertical line, which looks like a progress bar. 

Other common symbols are diamonds or stars, which represent milestones. 

Many Gantt charts use color-coding to separate project phases.

“When creating a Gantt chart, each task is represented by a bar that extends over the duration of the task,” says Danny Trichter, Co-Founder of AccessibilityChecker.org . “The length of the bar indicates the duration of the task, and the placement of the bar indicates when the task will begin and end. In addition, Gantt charts often include information such as task dependencies, milestones, and resources.” 

For some projects, especially those with tight deadlines, it can be helpful to include project dependencies in your chart. These are typically represented with arrows. You can use arrows to distinguish between the four types of dependencies: finish-to-start, start-to-start, finish-to-finish, and start-to-finish.

You can also use Gantt charts to represent lead time, lag time, predecessor tasks, and successor tasks when necessary. 

“Gantt charts should be created in a way that is easy to read and understand. I believe if it's not simple, people won't use it,” says Chad Sibila , Sales Manager at VT Industries. “I really like to see a left-to-right, start-to-finish for one project, with the steps to complete along the way.”

For more detailed information about making and using Gantt charts for your upcoming projects, see this basic Gantt chart guide with how-to videos.

Gantt Chart Examples by Format

The format you choose for your Gantt chart depends on the type of project, accessibility needs, and preference. For example, if your team conducts most of their work in Microsoft Suite, then PowerPoint, Excel, and Microsoft Word are better options.

Gantt charts are popular because they are easy to use and adaptable. You can create them in any spreadsheet, word processing, or presentation software. For projects where collaboration and access are key, Google formats such as Google Docs and Google Sheets are the most useful.

Jan Schiller, Partner and Chief Project Officer at Berkshire Consulting, LLC , recommends that you select a tool that can create a Gantt chart from source data, such as Excel or Google Sheets. “The Gantt chart can be lifted into any format that is meaningful to stakeholders,” she explains. “I recommend using one format consistently. Why? For information integrity and transparency that supports informed decision-making. Seamlessly switching between source data and the Gantt chart improves trust and credibility while greatly reducing the effort of maintaining an accurate Gantt chart.”

Gantt Chart Example Template for Excel

Download the Sample Construction Project Gantt Chart Template for Excel Download the Blank Construction Project Gantt Chart Template for Excel

Microsoft Excel is a popular software for creating and designing Gantt charts. For example, streamlined formulas allow you to keep all of your data in a centralized location, while generating Gantt charts automatically. Download the sample or blank template to see an example Gantt chart in Excel for a new home construction project.  

“I prefer using Excel for creating Gantt charts because it is easy to use and provides a lot of flexibility,” says Trichter. “I can easily add more information, such as task dependencies, milestones, and resources. Also, I can easily format the chart to make it look more professional.”

Find a how-to video, a step-by-step guide, and helpful tips for creating your own Gantt chart with this comprehensive guide to creating Gantt charts in Excel .

Gantt Chart Example Template for PowerPoint

Download the Sample Architecture Project Gantt Chart Template for PowerPoint Download the Blank Architecture Project Gantt Chart Template for PowerPoint

Download a detailed example of a Gantt chart or a blank version in PowerPoint for an architecture project. This easy-to-use Gantt chart PowerPoint is the perfect solution for anyone looking to create or present a dynamic project schedule in a presentation format. 

“If I were creating a Gantt chart to share with a large group of people, I might choose to use PowerPoint so that I could include more visuals and make the chart easier to understand,” explains Trichter.

To learn how to create, import, and customize your own Gantt chart for a presentation, see this comprehensive guide to creating Gantt charts in PowerPoint .

Gantt Chart Example Template for Microsoft Word

Download the Sample Clinical Trial Project Gantt Chart Template for Microsoft Word Download the Blank Clinical Trial Project Gantt Chart Template for Microsoft Word

Get started with a blank Microsoft Word template, or download the sample template for a prepared version that shows real data for a research project. In this case, the example is for a clinical trial of a new product. Microsoft Word is a great format option if you need a simple, printable Gantt chart. Use this template to track daily project tasks in a single document. Assign start and end dates, responsible team members, and statuses for each task in the chart. 

“Microsoft Word and Google Docs are formats that I typically use for more static content, such as reports or articles,” says Tricther.

To learn how to make and customize a Gantt chart, use this step-by-step guide to creating Gantt charts in Microsoft Word .

Gantt Chart Example Template for Google Sheets

Download the Sample Business Plan Gantt Chart Template

Excel | Google Sheets

Download the Blank Business Plan Gantt Chart Template

Download the sample template in Google Sheets to see how a project manager might use a Gantt chart to make a business plan. Google Sheets is hard to beat for a collaborative, accessible option with lots of helpful formulas and features. Use this template to track every task in your project in one shareable, web-based document. 

For additional templates, guides, and helpful tips, see this comprehensive article on creating a Gantt chart for Google Sheets .

Gantt Chart Example Template for Google Docs

Download the Sample Sales Plan Gantt Chart Template

Microsoft Word | Google Docs

Download the Blank Sales Plan Gantt Chart Template

Google Docs is another easily shareable and printable format option for making a Gantt chart. Try this Gantt chart template to track the phases and milestones of any project. Download the sample template for a version of a Gantt chart for a sales plan.

Gantt Chart Examples for Marketing

Whether it’s a social media, print, email, or other type of marketing campaign, Gantt charts can help you account for every step along the way. We’ve gathered a helpful list of example images and templates for your next marketing project.

“I started using Gantt charts for mobile project development, as they were taking over two to three months and involving dozens of people,” says Benjamin Poirrier, Founder and CEO of the marketing agency Prodima . “Nowadays, I use them to manage smaller digital marketing campaigns with various stakeholders (developers, designers, content writers, account managers), so I can follow up on the progress of their tasks.”

Marketing Campaign Gantt Chart Example Template

Download a Sample Marketing Campaign Gantt Chart Template for Excel | Microsoft Word

Download a Blank Marketing Campaign Gantt Chart Template for Excel | Microsoft Word

This downloadable example template provides a roadmap for a basic marketing project. From project conception and initiation to launch and measurement, this template has you covered. Assign task owners, set deadlines, and track statuses of every step in the project.

Gantt Chart Example for Market Research

Download the Sample Market Research Gantt Chart Template for Excel Download the Blank Market Research Gantt Chart Template for Excel

Use this straightforward Gantt chart template to map all the phases of your market research project, from planning and developing a mission statement to conducting client surveys, focus groups, environmental studies, and more.

Gantt Chart Example for Video Production

Download a Sample Video Production Gantt Chart Template for  Excel | Microsoft Word

Download a Blank Video Production Gantt Chart Template for Excel for Excel | Microsoft Word

Use a Gantt chart for your next video production project to ensure that you account for all important tasks, from pre- to post-production. Download the blank template to begin mapping your project. For more guidance, try the completed template with sample text to see how someone might use a Gantt chart to schedule a video production project.

Digital Marketing Campaign Gantt Chart Example

Download a Sample Digital Marketing Campaign Gantt Chart Template for Excel | Google Sheets

Download a Blank Digital Marketing Campaign Gantt Chart Template for Excel | Google Sheets

A successful digital marketing campaign can significantly expand the reach and impact of your brand or product. Use this template to monitor the various components of a digital marketing campaign. Track the timelines of your local marketing, content marketing, social media, web, and sales campaigns all in one convenient Gantt chart.

Example Gantt Chart for an Email Marketing Campaign

Download a Sample Email Marketing Campaign Gantt Chart Template for Excel | Google Sheets

Download a Blank Email Marketing Campaign Gantt Chart Template for Excel | Google Sheets

Email marketing campaigns are an effective way to inform existing and potential customers of upcoming sales, events, initiatives, and more. Follow the steps and phases in the customizable sample Gantt chart template for an example of how to effectively design, write, review, and release an email marketing campaign. Download the blank Gantt chart template to start from scratch.

Social Media Campaign Gantt Chart Example

Download a Sample Social Media Campaign Gantt Chart Template for  Excel | Google Sheets

Download a Blank Social Media Campaign Gantt Chart Template for  Excel | Google Sheets

Use a Gantt chart to streamline your multiplatform social media campaign to ensure that posts are consistently on-brand, timely, and polished. In this example, the chart separates tasks by platform making it easy for your team to give the appropriate amount of attention to each advertisement, whether it’s on Facebook, Instagram, TikTok, Snapchat, or another platform.

Virtual Event Planning Gantt Chart Example

Download the Sample Virtual Event Planning Gantt Chart Template for Excel | Google Sheets

Download the Blank Virtual Event Planning Gantt Chart Template for Excel for Excel | Google Sheets

Event planning can be stressful and complicated. Use a Gantt chart to keep hiring staff, planning music and activities, and booking locations simple and organized. This Gantt chart demonstrates a timeline for planning a successful virtual event.

Gantt Chart Example for Event Marketing for Excel

Download the Sample Event Marketing Gantt Chart Template for Excel Download the Blank Event Marketing Gantt Chart Template for Excel

For an event to be successful, teams need to devote resources to promoting it, reaching out to donors or potential guests, and ensuring there is media in place so that the event will be adequately covered. Track every part of your event marketing campaign simultaneously with this comprehensive color-coded Gantt chart.

Examples of Gantt Chart for Software Projects

For software projects, opt for Gantt charts that support Agile methodology. These charts break down projects into sprints, allowing you to track requests from stakeholders and clearly depict key dependencies. 

“Gantt charts are used in both the Waterfall and Agile project management approaches,” says Rafał Gatkowski, Senior Python Developer at STX Next . “They perform especially well with Waterfall since a linear plan is developed to match customer expectations after gathering them at the beginning of a project. At STX Next, we mostly use the Agile approach to set our goals and use continuous customer feedback to update our plan in real time.”

Agile Gantt charts are a popular option for project managers leading software development projects. Assign various development teams to tackle different features, and trace dependencies using arrows. 

For projects with only one development team, you can use a simpler Gantt chart that tracks the status and dependencies of each individual task.

Gantt Chart Example for a Software Development Project for PowerPoint

Download the Sample Software Development Project Gantt Chart Template for PowerPoint Download the Blank Software Development Project Gantt Chart Template for PowerPoint

This presentation-ready, Agile Gantt chart will help you map out, schedule, and share your software development project roadmap. Diamond symbols represent key milestones, while arrows indicate the dependencies among tasks.

Gantt Chart Example for Website Development

Download a Sample Website Development Gantt Chart Template for  Excel | Google Sheets

Download a Blank Website Development Gantt Chart Template for  Excel | Google Sheets  

A user-friendly, functional website is key to the health of any company or brand. Account for every detail in the website development process by downloading a Gantt chart template for Excel or Google Sheets. Track due dates for design, features, development, and launch.

Gantt Chart Example in Software Engineering for Excel

Download the Sample Agile Software Engineering Gantt Chart Template for Excel Download the Blank Agile Software Engineering Gantt Chart Template for Excel

Track each phase in a software engineering project with an Agile Gantt chart. This Gantt chart tracks the development of each feature, separating each into sprints. Download and customize the blank Gantt chart template to create a dynamic timeline for any Agile project.

External IT Project Gantt Chart Template for Excel

Download the Sample IT Project Gantt Chart Template for Excel Download the Blank IT Project Gantt Chart Template for Excel

Use this sample template as a comprehensive tool to help you plan and schedule an external IT project. Customize the project name, task names, and start and end dates in the left-hand column to populate the Gantt chart on the right. Select and move the milestone markers to indicate the various stages or milestones of your IT project. 

Download the blank version to get started mapping your project timeline, or download the version with sample data to see how an IT project progresses from planning graphics to testing, rollout, and documentation.

Mobile App Development Agile Gantt Chart Example Template

Download the Sample Mobile App Development Agile Gantt Chart Template for Excel Download the Blank Mobile App Development Agile Gantt Chart Template for Excel

Gantt charts that incorporate Agile methodology are perfect for software projects such as mobile app development. In this sample template, you can see how to use an Agile Gantt chart to map the sprints in a mobile app development project, from research and analysis to launch.

See this comprehensive guide on using Gantt charts for Agile with a template and examples to learn more.

Project Management Gantt Chart Examples

Gantt charts are a fundamental tool in project management. These blank and example Gantt chart templates cover various areas of project management. Find samples that you can use as a guide for creating a proposal, planning, consulting on a roadmap, and more. 

“Once properly created and maintained, a Gantt chart brings clarity to a lot of information, which improves the success of the project manager and, therefore, of the organization,” says Schiller. “Gantt charts help to improve project performance by improving coordination, decision making, and communication.”

Whether you’re consulting, drafting a project proposal, or leading a construction project, Gantt charts will help you stay on schedule. Try Gantt charts that incorporate the critical path method.

Gantt Chart Example for a Project Proposal for PowerPoint

Download the Gantt Chart Project Plan Timeline for PowerPoint

Incorporate a Gantt chart into your project proposal presentation with this Gantt chart project plan timeline. This presentation-ready format is a great option for project managers who want to give a broad visual overview of the project timeline to stakeholders or company executives. Simply add this slide to your project proposal presentation to get the most out of this straightforward Gantt chart. 

For more resources and information on project proposals, see this article on writing a winning project proposal .

Project Plan Gantt Chart Example with Template

Download the Sample Gantt Chart Project Plan With Dependencies for Excel Download the Blank Gantt Chart Project Plan With Dependencies for Excel

A project plan is a more detailed version of a project proposal. Use a Gantt chart to allot your team enough time to research and write every section, including overview, scope, schedule, budget, and more. By doing so, you can rest assured that your project plan will be successful. Download the blank version to get started identifying your project plan phases, or download the version with sample data to see how much time to allow for each phase.

To learn best practices and find expert tips on creating project plans, see this guide to writing a winning project plan .

Gantt Chart Example for a Consulting Project Roadmap

Download a Sample Consulting Project Gantt Chart Roadmap Template for  Microsoft Word | PowerPoint | Google Slides  

Download a Blank Consulting Project Gantt Chart Roadmap Template for Microsoft Word | PowerPoint | Google Slides  

Create a consulting project roadmap as a Gantt chart to produce a clear and visually dynamic graphic of your timeline. In this example, every part of a consulting project, from developing partner strategy to reviewing the partnership development process, has a phase with individual tasks to which you can assign an owner, deadline, and status.

Construction Project Gantt Chart Example with a Critical Path

Download the Sample Construction Project Gantt Chart Critical Path Template for Excel Download the Blank Construction Project Gantt Chart Critical Path Template for Excel

By combining Gantt charts with the critical path method (CPM), project managers can optimize their schedules and minimize unexpected delays. Although CPM is appropriate for any project, it is particularly useful for those with many strict dependencies, such as construction projects. 

Try this free, customizable template that combines Gantt charts with critical path methodology. Download the blank version, and enter your tasks, start and finish dates, assignees, and statuses. The template will populate the Gantt chart at the bottom of the spreadsheet as you enter your data. You can also download the version with sample data for a construction project Gantt chart example. 

Learn about Gantt charts and the critical path method in this CPM guide with templates and examples .

Product Development Management Gantt Chart Examples

A Gantt chart can help simplify even the most ambitious product development project. From ideation and research to costing and commercialization, these Gantt chart examples can help set you and your team up for success.

“Gantt charts outline the proper order for completing tasks, as well as the amount of time required,” says Gatkowski. “Having this knowledge is useful while managing projects, as you can monitor the progress, plan the whole project, and manage resources. Project managers can check to see if specific activities are finished on time and modify the project plan accordingly.”

New Product Development Gantt Chart Example for Microsoft Word

Download the Sample New Product Development Gantt Chart Template for Microsoft Word Download the Blank New Product Development Gantt Chart Template for Microsoft Word

A new product development project requires careful planning. Try this simple Gantt chart to break down your project into manageable segments, such as developing a prototype, setting up materials acquisition, and creating a marketing plan.

Gantt Chart Example for Product Roadmap

Download a Sample Product Roadmap Gantt Chart Template for Excel | Google Sheets

Download a Blank Product Roadmap Gantt Chart Template for Excel | Google Sheets

Create a product roadmap using this comprehensive Gantt chart tool. Track every product feature as you move through the development process, from grouping management controls and notifications to drafting product segment reports.

Product Launch Gantt Chart Example for Excel

Download the Sample Product Launch Gantt Chart Template for Excel Download the Blank Product Launch Gantt Chart Template for Excel

This Gantt chart design for Excel allows you to track tasks and phases of a product launch. Copy and paste statuses from the color-coded key on the right-hand side of the template to ensure that anyone can take a quick look at your Gantt chart and understand the status of your product launch. Download the version with sample text to use as a guide to get started or the blank version to enter your own details.

Gantt Chart Example for the Manufacturing Process

Download a Sample Manufacturing Process Gantt Chart Template for Excel | Google Sheets

Download a Blank Manufacturing Process Gantt Chart Template for Excel | Google Sheets

Try this simple Gantt chart template to keep track of every phase in the manufacturing process. In this example, see how the manufacturing process moves from planning and product development to inspection, shipment, and delivery. Enter start and end dates for each task, and watch the Gantt chart populate with color-coded bars.

Gantt Chart Examples for Human Resources 

Human resources (HR) departments can use Gantt charts for varying projects. Download a sample template to help get you started on your HR Gantt chart, or use a basic Gantt chart template to plan your project schedule from scratch. 

“Gantt charts can be used for a variety of HR-related projects, such as onboarding new employees, planning company-wide training events, and tracking employee performance goals,” says Linda Shaffer, Chief People and Operations Officer at Checkr . “They are particularly useful for projects that involve multiple teams or individuals, as they provide a clear way to track progress and identify potential risks and issues.

“For example,” Shaffer continues, “if you're planning a company-wide training event, you can use a Gantt chart to track the progress of each team as they complete their training. This way, you can see at a glance which teams are on track and which ones are behind schedule.”

Gantt Chart Example for Interview Process

Download a Sample Interview Process Gantt Chart Template for Excel | Google Sheets

Download a Blank Interview Process Gantt Chart Template for Excel | Google Sheets

Hiring a new employee takes time, resources, and careful consideration. Stay organized throughout the process, from pre-interviewing to hiring, with a comprehensive and visually dynamic Gantt chart. Complete each section of the pre- and candidate-interview phases, candidate selection, and hiring. This interview process Gantt chart example sets a timeline that ensures everyone who needs to talk to a potential new hire does before you send the offer.

Employee Onboarding Gantt Chart Example

Download a Sample Employee Onboarding Gantt Chart Template for Excel | Google Sheets

Download a Blank Employee Onboarding Gantt Chart Template for Excel | Google Sheets

Well-organized employee onboarding processes help improve an employee’s long-term experience at a company and decrease overall employee turnover. This Gantt chart illustrates the path to preparing for a perfect first day on the job. 

Download these onboarding templates and checklists for more HR tools and advice.

Gantt Chart Example for Human Resources Planning

Download the Sample Human Resources Planning Template for Excel Download the Blank Human Resources Planning Template for Excel

Use this Gantt chart to ensure that your organization has all the required team members available to complete your next project. Follow the sample template for an Agile software development projec t, or enter your own data to manage human resources for any upcoming project or initiative.

Easily Track and Manage Your Projects with Gantt Charts in Smartsheet

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The Smartsheet platform makes it easy to plan, capture, manage, and report on work from anywhere, helping your team be more effective and get more done. Report on key metrics and get real-time visibility into work as it happens with roll-up reports, dashboards, and automated workflows built to keep your team connected and informed. 

When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time.  Try Smartsheet for free, today.

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Money blog: How many households already have heating on - and what temperature should you set your thermostat?

The average date of the big heating switch on will be almost a week earlier than last year - and Pumpkin Spice Lattes are back, but where's the cheapest place to get one? Read these and the rest of today’s personal finance and consumer news below - and leave a comment.

Tuesday 17 September 2024 18:14, UK

• Inflation data released tomorrow - here's what economists are predicting
• How many households already have heating on - and what temperature should you set your thermostat?
• Council tax hike on second homes triggers surge in sell-offs

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Tips and advice

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Ask a question or make a comment

By  Sarah Taaffe-Maguire , business reporter

It's a busy week for central bankers in the UK and abroad as interest rate-setters in London, Washington and Tokyo meet to decide on the cost of borrowing in their countries. 

They all have the same goal: to bring down inflation and keep it low at 2%. 

The key numbers guiding the Bank of England in their decision come tomorrow when official inflation data for August is released. 

The consumer price index (CPI) measure of inflation is expected to stay at 2.2%, according to economists polled by Reuters - the same rate as July. 

A CPI reading of 2.2% would mean that prices are on average 2.2% more expensive than a year ago and the inflation rate remained higher than in June and May.

Other measures of inflation, such as core which excluded volatile food and energy, are projected to tick up from 3.3% to 3.5%,  which will likely move members of the Bank's Monetary Policy Committee (MPC) to hold rates at 5%.

Traders currently bet there's a 36% chance of the Bank cutting interest rates when they meet on Thursday, odds that could change. 

Just 6% of Britons who took a staycation this summer planned to use an electric vehicle (EV), a new survey has found.

"Range anxiety" is the main factor, with more than a third (38%) worrying the vehicle will not have enough battery charge to reach its destination and more than half (52%) have concerns about the lack of charging points.

It means that drivers, despite knowing it is the greener option, are reluctant to use EVs on longer journeys.

Ovo Energy, which runs Charge Anywhere within its Ovo Charge app for all EV drivers – not just Ovo customers – directing users to 34,000 public chargers across the UK and 400,000 across Europe, acknowledges there is more to be done to boost confidence in the system.

Alex Thwaites, director of EVs at Ovo, said his firm's app attempted to provide drivers with "peace of mind", with access to live updates and availability of chargers.

A new YouGov poll for the Energy and Climate Intelligence Unit (ECIU) has found petrol car drivers have a limited understanding of how electric cars are currently charged, mistakenly assume that EV drivers regularly run out of charge and underestimate the savings that EVs generate over running a combustion engine car.

More than five in 10 petrol car drivers (54%) think EV drivers run out of charge at least once a year but in reality, 82% of EV drivers report never running out of charge.

The energy secretary has been urged to tackle the UK's "dire" smart meter rollout.

In a letter to Ed Miliband, MoneySavingExpert (MSE) founder Martin Lewis warns that "too many smart meters don’t work" and "word of mouth is often saying 'don’t bother'."

He suggests firms shift their targets away from overall installations to looking at how many "working" smart meters there are.

In a blog on his website, Mr Lewis wrote: "Complaints about smart meters are through the roof. Too many people tell me theirs are broken. Others refuse to have them and feel companies are forcing them.

"I'm generally in favour of the concept of smart meters, though I think the way they've been rolled out since the start has been dire."

He said many who don't have a smart meter are willing to pay more to avoid getting one.

A survey by MSE also found 19% of households with a smart meter said theirs did not work - this included problems with in-home displays, incorrect data on tarrifs or prepay top-ups not working correctly.

Mr Lewis wrote: "Too many resources are focused on installations, not repairs, leaving more existing meters not working properly. Repairs can be slow, if they happen at all, leaving consumers frustrated and at risk of mis-billing and further problems."

Earlier this year, Citizens Advice warned that millions of households were missing out on the benefits of their smart meter due to faults and poor service from their supplier.

Nearly 1,400 OVO customers will receive compensation after the energy firm was hit with a £2.37m penalty for complaint handling failures.

Energy regulator Ofgem said the firm, one of the UK's largest energy companies, will pay more than £378,000 directly to affected customers.

Due to the "severity of consumer detriment", OVO has also paid £2m to the Energy Industry Voluntary Redress Scheme - a fund supporting customers and developing energy projects.

Jacqui Gehrmann, from Ofgem, said OVO "failed to adequately protect and respond to their customers when it was needed most".

"This is not acceptable," she added.

OVO is Britain's fourth-biggest household energy supplier and has about four million customers.

Read the full story from our business reporter Sarah Taaffe-Maguire here:

More than 1.7 million households do not plan on turning on their hearing this winter - nearly double the amount who said they did not heat their homes last year.

More than half of those polled for Uswitch (55%) blamed rising living costs while 25% of over-65s said their decision followed the loss of winter fuel payments.

Another one million households will wait until December to turn it on, the survey also found.

The average date of the big switch on this year (according to the people polled) will be 6 October, almost a week earlier than last year's 12 October (which was the most common date in 2023 the 2,000 people surveyed said they were turning it on).

But almost six million have already started warming their homes after last week's cold snap.

What temperature should you set your thermostat?

The survey suggests households will set their thermostat at an average 19.4C this winter, up from 19.3C a year ago.

The Energy Saving Trust estimates that people can save 10% on their heating bills for every degree they turn down their thermostats, although it is recommended that people do not set them lower than 18C.

More than one in six households (17%) are planning to set their thermostats below 18C to save money, while 8% plan to heat their home to 17°C, and 11% to 16C or lower.

At the other end of the spectrum, almost four million households are setting their thermostats at or above 22C.

A priest has avoided jail after he was caught on CCTV stealing from his own church's donation pot.

Fortunato Pantisano, 44, took around £200 cash from Our Lady of Perpetual Help Catholic Church in Fulham, west London, on 7 January.

He had been suspended from service at the time of the offence.

He was seen on footage entering an office at the church around lunchtime and taking two plates of money that had been donated, Westminster Magistrates' Court heard.

Pantisano pleaded not guilty but was convicted after a trial last month.

He has continued to deny the offence. A pre-sentence report said it is likely he will not be able to practise as a Catholic priest again.

Pantisano, of Harewood Avenue in Westminster, was sentenced to 20 weeks' imprisonment suspended for two years at the same court on Tuesday.

The judge said a suspended sentence was appropriate given the defendant had no previous convictions, presented no real risk to the public and had a "strong prospect of rehabilitation".

Amazon has told its office workers they may no longer work from home except in extenuating circumstances.

It comes as Jonathan Reynolds, the UK's business secretary, said flexible working contributes to productivity, employee resilience, and staff retention.

Workers need to be judged on outcomes and "not a culture of presenteeism," Mr Reynolds told The Times.

What is Amazon doing?

Amazon has described the policy change as returning to the way it worked before the COVID-19 pandemic - being in the office five days a week except for special circumstances.

A letter from Amazon chief executive Andy Jassy said those situations included when staff or their children were sick, house emergencies, travelling for work or coding "in a more isolated environment".

Some staff who had been given exceptional permission to work remotely will remain able to do so.

The changes will take effect on 2 January next year as Mr Jassy said the company understands staff have "set up their personal lives in such a way that returning to the office consistently five days per week will require some adjustments".

Forget CPI for measuring inflation, as brat summer fades into a demure and mindful autumn, we bid farewell to iced coffees and hello to their spicy seasonal counterparts.

But even fan favourite, the Pumpkin Spice Latte, is not immune to inflationary pressures.

Card payment experts SumUp have analysed this year's autumnal menus from the four leading coffee shops (Starbucks, Costa, Greggs and Pret) to find out which offers the best value for money.

It may have started with Starbucks, but Greggs took the crown with the cheapest Pumpkin Spice Latte, bucking national trends and actually decreasing the cost by 20p since last year. Their offering is 53% cheaper than Pret and Starbucks. 

Greggs has also added 10 new menu items - including Pumpkin Spice Latte doughnuts.

With the price for a regular Pumpkin Spice Latte now at £4.65, Pret a Manger had the largest increase year-on-year - with a 37% markup. 

Costa has rejected the Pumpkin Spice Latte entirely, with the comparison instead looking at their Maple Hazel Latte. 

However, this Pumpkin Spice alternative is still 6% more expensive than Starbucks and Pret a Manger’s offerings and a whole £1 more from last year's starting price - a 25% markup.

With the exception of Pret, the coffee giants began launching their autumn menus in August, despite starting in September just two years ago. 

Why are seasonal drinks so expensive?

Bart Visser, from SumUp, says high operating costs, quality of ingredients and supply chain issues are to blame for rising coffee prices.

"Seasonal menus frequently see a markup in price due to their special ingredients and limited availability," he said.

"Customers are willing to pay a premium for these items, and seasonal menus often come with targeted marketing campaigns, themed decorations, and special promotions. 

"These efforts can be costly, and businesses may recoup these costs through higher prices."

By Sarah Taaffe-Maguire , business reporter

Regular Sky News readers will have had this morning's news yesterday. 

Today Flutter Entertainment, the owner of Paddy Power, confirmed Mark Kleinman's story that it is buying the consumer operations of Playtech, the gambling technology group. 

Flutter's share price was up 0.59% following the announcement. 

The biggest riser on the UK's benchmark stock index (the FTSE 100 list of most valuable companies on the London Stock Exchange) was Kingfisher, the owner of B&Q and Screwfix. 

The 6.3% increase in its share price is part of the overall FTSE 100 0.76% rise. 

The more UK-based FTSE 250 index, of the 101st to 350th most valuable London-listed firms, rose 0.5%. 

With the looming US interest rate cut tomorrow, the dollar has remained weak - good news for people heading to the US from the UK and for people paying for goods in dollars. A pound is back buying $1.32. 

Against the euro, sterling buys €1.187.

Oil has remained around the $72 mark. A barrel of the benchmark Brent crude oil costs $72.50 - not much more than the $70 low that, until last week, was not seen since 2021.

Metro Bank is set to axe hundreds of jobs as it pushes ahead with an £80m cost-cutting plan, according to reports.

The beleaguered lender will announce 300 roles are going within the business operations, IT and support divisions, according to the Daily Mail .

It comes just months after the bank said it would axe 1,000 roles (equivalent to 22% of the workforce) and scrap seven-day trading in all its branches. These latest cuts come in addition.

The bank has been hit by a series of blunders, including accounting errors and leadership changes.

It has struggled to recover from a blunder in 2019 that saw £900m in loans misclassified, sparking an investor and deposit outflow at the time.

Since then, its share price has plunged from £287 down to £65.50 today, a dip of 77%.

In July it sold its £2.5bn residential mortgage book to NatWest after a deal with Barclays fell through last year.

The bank, which was founded in 2010, has about 2.7 million customers and 75 branches in the UK.

It has looked to capitalise on public anger over high street branch closures by mainstream banks since the financial crisis by focusing purely on branch services - opening seven days per week.

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