How to write a simple business plan

A business plan provides an essential map to get you to your business destination. This guide outlines the benefits of having a business plan, the key elements, and how you can prepare a simple but effective plan that will function as an ‘action template’ for your business.

Can you prepare a plan yourself?

This guide aims to show how everyone can prepare an effective business plan. The secret is to keep the plan short and simple - some people use bullet points to compress everything into just a few A4 pages. Long, complex business plans too often end up gathering dust on a shelf. Aim instead for a short, practical plan that you can implement, because the only thing worse than acting without any plan is planning without then taking action.

Of course the nature of your business and indeed the market will change with time, which is why any business plan needs to be revisited and updated at least once a year. This is another good reason for brevity: you’ll be more inclined to update your plan if it is four pages rather than 100 pages long.

Sharing and brainstorming

It is always better to include your staff in the business planning process rather than impose a plan upon them. Aim for consensus and ‘buy in’ to the final plan. As well, it makes good sense to brainstorm ideas with your staff. Set time aside for the purpose (perhaps at a different venue) where you can work undisturbed by the distractions of everyday business. If everyone agrees on strategy and targets, the chances of success are heightened.