How to create a business plan: complete quide & free template

What is a business plan and why do you need one?

A business plan is a strategic document that outlines your business idea, goals, and the steps you’ll take to achieve them. It’s essential for:

• starting a new business
• entering new markets
• launching a product
• negotiating with investors and donors.

A well-structured business plan helps you assess the economic viability of your investment, identify risks, and define your business model.

Business plan structure (with free template)

A standard business plan includes the following sections:

1. Cover Page
2. Table of Contents
3. Executive Summary
4. Company Description
5. Market Analysis
6. Marketing Plan
7. Operational Plan
8. Organizational Plan
9. Financial Plan.

Each section is explained in detail below.

📄 Download the free template and fill it out as you follow this guide.

1. Cover page

Includes basic information:

• your name or your business name
• project title
• purpose of the plan (e.g., applying for subsidies)
• date and place
• contact details.

2. Table of contents

Gives an overview of all the sections with page numbers—especially useful for investors and donors.

3. Executive summary

One of the most important parts! Investors often decide whether to keep reading based on this section. I recommend writing it last, once you have a clear picture of the whole plan.

It should answer:

• What is your business idea?
• What problem are you solving?
• What is your product or service?
• Who is your target customer?
• What is your competitive advantage?
• Who is the team behind the idea?
• How much funding do you need?
• What are your goals for the next 3–5 years?

4. Company description

Present:

• basic information (company name, founders, core activity)
• mission (why you exist)
• vision (what you aim to become)
• values (e.g., innovation, integrity)
• goals (short-term and long-term)
• a description of your product/service and the problem it solves
• business location
• legal structure.

If you haven’t registered your business yet, you can use tools like Chat GPT, Namelix to generate a business name and logo.

5. Market analysis

Analyze the environment in which your business operates:

1. PEST Analysis – Political, Economic, Social, and Technological factors
2. SWOT Analysis – Strengths, Weaknesses, Opportunities, and Threats
3. Competition – Who are your main competitors, and what are your advantages?
4. Brand Positioning Map – How does the market perceive you compared to others?

6. Marketing plan

Defines how you’ll attract and retain customers. Includes:

• Market research (primary and secondary)
• Target audience analysis
• Marketing mix:
  • Product – What are you offering and what makes it unique?
  • Price – How did you determine the price?
  • Promotion – How will you communicate with your customers?
  • Place – Where and how will your product be sold?

Primary market research includes information you collect yourself—such as internet research, visiting competitors, customer surveys, or traffic analysis of a potential location. It involves direct methods like interviews, questionnaires, and observations.
Secondary market research includes existing data from sources like trade organizations, industry reports, government statistics, or agencies such as NIELSEN, IPSOS, STATISTA, etc.

Through market research, you gain insights into:

• total market size
• industry trends
• your ideal customer profile
• market entry barriers
• your potential market share.

Also, prepare a revenue forecast (product specifications, prices, expected sales volume).

7. Operational plan

Covers day-to-day operations:

• location and facilities
• required equipment
• operational processes
• team and skill sets
• suppliers and partners.

Outline realistic costs and show how your capacity aligns with projected sales.

8. Organizational plan

Describes:

• organizational structure (departments, sectors)
• number and profiles of employees
• ownership and management structure (who makes decisions and with what competencies).

9. Financial plan

The most critical part for investors. Includes:

• Balance Sheet – what you own and how it’s financed
• Income Statement – expected revenues and expenses
• Cash Flow Statement – when money flows in and out
• Investment feasibility analysis – will your investment pay off, and when? (including NPV, IRR, ROI indicators).

You will find detailed explanations of these terms in our new article: How to create a financial plan.

Tips for writing a business plan

• Be precise but creative.
• Write clearly and understandably—as if your reader isn’t from your industry.
• Include supporting documents (letters of intent, certifications, patents…).
• Think about an exit strategy—what if your plan doesn’t work out?

Pro Tip: Always prepare both a best-case and worst-case scenario to be ready for unexpected challenges.

Ending note

We hope this guide gave you a clear understanding of how to write a business plan. Download the free template, write with passion and strategy—and feel free to reach out if you need support.
Send me your feedback and questions through the contact form.

Good luck writing your business plan!