The beginning of the year provides the perfect opportunity to pause and reflect on what you want to achieve for your business. Maybe you want to grow your team and streamline processes. Maybe you’re preparing to launch a new product or service line. Or, perhaps you’re thinking about opening a new location in a different city or state. Whatever your goals are, it’s important to understand your vision and put steps in place to actualize that vision. Our free business plan template is one tool that can guide you down the right path.
First Things First: Understand the Why Behind Your Business
When you understand the why behind your business, it’s much easier to develop a business plan and stick to it. Have you written a mission statement for your business? What are your brand’s core values?
- Your mission statement is the way you communicate your unique value proposition to the marketplace.
- Your core values describe the tenets by which you will conduct your mission.
If you’re having trouble defining your mission statement and core values, make sure to take some time and complete these sections in our business plan template (download below). You’ll find that when you understand why you started your business and what it stands for, writing the rest of your business plan will come naturally to you.
Then, Determine Your Business Objectives
As entrepreneurs, it’s easy to want to achieve every goal on our lists in just a year’s time. While the sky’s the limit, try focusing on a maximum of five key goals as you develop your plan. Here are some thought starters to help you zero in on your objectives for your business plan:
Products and Services:
- What specific products or services do you provide?
- Are there new products and services you would like to provide in the future?
- Which products and services would you like to phase out in the future?
Customers:
- Who are your specific customers? Do they vary by product or service?
- Who is your ideal customer?
- Will you be targeting new customers in the future with new products or services?
- Are there customers or customer types you would like to phase out in the future?
Free Resource: Business Plan Template
Now that you’ve explored these questions and given them some thought, it’s time to download and complete our free business plan template. The 12-page resource incorporates the 5 Pillars of Sound Business to align your financials with your business goals — a critical component of any business plan.
Download Free Template
Completed Your Business Plan Template and Ready to Take the Next Step?
Our experienced business attorneys and strategists are ready to help you execute your business plan, even if you aren’t sure where to start. No matter what stage of business you’re in, we recommend checking out our Chief Legal Suite™ and Business Accelerator programs. You can also contact us for a consultation — we love supporting entrepreneurs like you.
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