How do I write a simple business plan template in 2023

Whether you are an entrepreneur or aspire to establish your business, or work within a team for a large company, you must know that you need a professional business plan that enables you to enter the market strongly, enhance the growth of your business in it, and create a competitive advantage for you. 

How do I write a simple business plan template in 2023

I know very well that any successful project, in the beginning, is an idea and the idea is a professional business plan that helps turn it into reality.

A business plan helps you in a comprehensive understanding of all the financial, material, and moral aspects, and enables you to launch the project with less risk, greater effectiveness, and the use of fewer resources.

In this article, we will discuss in detail what a business plan is, what are its components, and how to write a professional business plan template.

What is a plan of action in steps 

A business plan is a road map for what companies will do in the coming period to reach their goals. It represents a tool of guidance and leadership for anyone who wants to establish his business or start launching a new product or project in his company.

What is a plan of action in steps

It shows all aspects surrounding the company, whether internally or externally, as follows:

  • Project idea and objectives to be achieved.
  • Access Strategies.
  • The period of time covered by the plan.
  • Economic situation in the market.
  • Extent of funding need and its sources.
  • Expected strengths, weaknesses, opportunities, and threats.
  • Description of the product or service and its idea.

A business plan is an integral part of the work itself, and it is not a ready-made document or form to be filled out only, but it is a serious activity that must focus efforts towards it, and work on it effectively.

How important is the need for a business plan before starting a project

Have you ever asked yourself why projects and companies need a business plan?

As we mentioned before, it is more like a road map that guides you towards your goals, as it will enable you to deal with the opportunities and obstacles that will meet you throughout your journey in achieving these goals.

The answer to this question is not limited to that, there are many reasons why companies always need to write a business plan template for their projects, such as:

a)Action plan through which the work structure, aspirations and visions, and desired goals are clarified, the ideas and mechanisms available for their implementation, and the actions that will be taken that help in development and improvement.

b)It includes all details of the products and services offered by the project, their pricing and sourcing plans, and the marketing and sales strategies used.

c)A business plan is a prerequisite for obtaining financing and loans for projects from banks because project owners need detailed information about the project and its feasibility.

d)A business plan is a major reason for increasing investments. The successful plan attracts investors to buy its projects, invest their money in the company, or buy part of its shares, and increases its chances of getting investors who add value to its projects or merge into major entities.

e)It discloses all financial statements related to the business, including capital, assets, liabilities, financial needs, and funding sources.

f)It is a working guide that you and those in charge of the project can refer to, as it outlines the steps to be taken in moving towards the goal, and the performance measurement criteria.

g)A business plan helps launch projects with less risk and a greater return on investment because it provides a detailed explanation of the funds, and resources needed for production, and how to provide them and bring products to market.

This importance comes as a result of the integration and interaction of some of the basic elements and components of this plan.

Business plan elements 

A business plan consists of several basic elements, which are:

Element One: Executive Summary

It is an overview of the plan as a whole, the reason for creating the plan, and provides a summary of the products and services offered, the objectives, and an overview of the market, the resources and financing required, and the competitive advantages of the brand or product.

The purpose of preparing the executive summary is to grab the interest of the people involved and give them a snapshot of the content of the plan.

Second Element: Company Description

A second component of the plan is the description of the company. Determine whether the company is a sole proprietorship, investment, or partnership. This item highlights some details, such as:

  • Company's industry type, vision, and objectives.
  • Products and services you provide and describe them in a simple way.
  • Target customers, their personalities, and strategies to reach them.
  • The financial and legal status of the company.
  • Company's management structure.

That includes all information about the company's name, address, and data on the CEOs.

The purpose of describing the company in the plan is to provide an overview of the company, valuable information about it, and to illustrate its real situation.

Third Element: Description Of The Work Environment

It is intended to analyze the work environment or the company and the existing industry, through two axes:

Firstly: The Commercial Market To Which It Belongs

The commercial market is analyzed, its size, the growth rate of the companies inside it, and the extent to which it can accommodate new companies, new products, or services.

In addition to studying the types of variables that occur to it, the opportunities and threats available to it, and its needs.

Determining the nature of its consumers, their demographic features and lifestyle, and who are the customers of that market, whether companies, individuals, or government institutions.

You must also identify social changes and technological factors in it, and you must take into account the legal and political factors in this market so that you are not surprised by barriers and obstacles that prevent you from entering the market.

Secondly: Competitor’s Analysis

In this axis, competitors in the market who offer the same or similar products to you will be analyzed, and their strengths, weaknesses, market share, marketing strategies, and the threat posed to you by these competitors will be determined through market research.

In the end, the purpose of your good understanding and analysis of the market and competitors makes you able to create a product in line with the needs of customers and consumers, benefit from competitors' experiences and avoid the weaknesses and threats they have experienced.

Fourth Element: Description Of Products And Services

In this item the company's products are explained, their description and use, the volume of production, cost of production, profits and expected sales, how the product or service works, and their pricing are explained.

Fifth Element: Operations Plan (Operation)

The operations plan is the series of activities at the end of which we will have outputs, which is the product or service, and it includes:

  • All details of how the work is going and who is responsible for it.
  • Objectives to be achieved.
  • Strategies used in the sales and marketing processes established.
  • Marketing mix, which consists of.

  • Price: Different pricing strategies for a product.
  • Producer: The one that solves your customer's problem.
  • Promotion: Marketing channels you use to market and communicate your message to an audience.
  • Place: The place where marketing and sales take place.
  • Factors affecting the marketing and sale of products.

Through the sales plan, the break-even point is also clarified, which is the number of sales to be sold in order to achieve revenue equal to the cost of production.

That is, the minimum sales to be achieved to ensure a profit, which one is sold after the established break-even point, after which profits are made.

Make sure to make the operations plan a dynamic plan that highlights all of the company's steps toward achieving its goals.

Sixth Element: Financial Forecasts (Financial Plan)

The financial forecast element is one of the most important elements or parts of the business plan that shows the financial requirements of the project, such as:

Available assets and liabilities, costs incurred from production, supply, and other costs, development expenditures, projected expenses, expected profit margin, revenues, available financing sources, and cash flows.

In addition to the turnover of capital and liabilities, all of this can be clarified by placing the initial budget for the project in the plan.

Seventh Element: Work Team

The plan template should show the work-based team and the tasks of each team member, founders, and managers.

Clarify whether external labor or Freelancer will be used to perform some tasks, what tasks they perform, and what needs and skills your team needs, in addition to:

  • The company's operating hours.
  • The number of employees and their expected salaries.
  • Expected rewards and incentives.

Eighth Element: Attachments

Part includes all documents and additional information supporting the plan such as partnership and lease contracts, permits, commercial records, bank accounts, and all forms and documents that support your position.

It helps to analyze the understanding of these elements and their contents and the relationship between them in creating an effective and distinct plan model and helps to achieve an idea effectively and excel.

How to write a step-by-step business plan template

At the outset, some important points should be clarified about the plan, namely:

It is common knowledge that not all companies and brands are alike in preparing a business plan template and that the template is not the same in its components.

Every business has its requirements, so the model and components differ from one company to another. Some companies, for example, integrate the marketing and sales plan into the operations plan, and some make the are separate components.

We point out that some companies prepare the plan template manually, according to the needs of the components of the plan that they prepare, and others use ready-made forms or programs that help companies write them.

Also, the time period for each plan varies according to the duration of the project, some need to prepare a work plan for 6 months, others for a year, and the time period it covers may extend for 5 years, during which it explains all the operations and goals that it seeks, as it is a specific period.

A business plan also has a key role in the establishment and success of any business, so this plan must receive deep attention from the business team during its preparation.

Add to your information that developing the plan requires effort from the team as a whole, not an individual or one person who is responsible for it. 

Everyone participates in developing it, and sits at the brainstorming table to be fully aware of the work plans, goals, and responsibilities, and believe in its success.

After you have enough information about what the plan is, its importance to the projects, and the elements it consists of, you are able to easily prepare it.

Now all you need is:

1-Writing the executive summary: Start by writing the summary, explaining all the details and objectives in a concise manner.

2-Describe the company and work: Try to describe your work environment in a distinctive way in order to increase the chances of your company's success in being an attractive place for investment and the goals you seek.

3-Describe your products and services in detail: their characteristics, target audience, materials you need to produce them, pricing plans, and product launch strategy in the market.

4-Analyze the markets and competitors: In this part, think and answer some of the following questions:

  • What is the number of competitors, the size of their entity, and the degree of their closeness?
  • What are their strengths and weaknesses?
  • What is their expected reaction to your entry as a competitor?
  • What are the chances of other competitors entering the market?

Full knowledge of these answers will initially determine your strategic position in the market.

5-Plan the operations: to be implemented during the time period and clarify the details of the marketing and sales plan.

In addition, develop scenarios that answer the following questions:

  • What if the prices of raw materials went up?
  • What if the machines break down in the factory?
  • One of its directors left the company?
  • Fees and energy prices rose?
  • Problems in neighboring countries?
  • Unavailability of production resources, and no suppliers?

An answer gives solutions to the expected crises, develops plans and strategies to deal with and manage them, and there is no element of surprise during the implementation of the operations plan.

6-Develop financial analysis: Clarify all the information about the financial amounts represented in the capital, costs, revenues, the amount, and source of the required financing.

Answer these questions:

  • When should the raw materials be purchased and their cost?
  • How much time do you need to attract clients?
  • What is the cost of attracting and retaining customers (marketing costs)?
  • The size of the financial investment to buy assets?
The purpose of the financial analysis of the project is to know its financial feasibility and financial needs and to know the flows it needs for expansion.

Note: The person responsible for preparing this part of the plan is the Finance Director in collaboration with the department heads.

7-The work team: In this part, you must clarify the skills that your work needs, and that the work team must possess (both personal and technical skills), and the roles are distributed to each member of the team and identify the people responsible for each task.

8-Attach the required accessories: which you need when presenting the plan to the relevant people and that will support your financial and moral situation.

9-Use ready-made templates and forms: and review them well, spelling and financially, more than once before submitting them.

Some tips that will help you prepare a professional business plan

  • The plan must be realistic, workable, and not based on unexamined assumptions and expectations.
  • It should be clear and uncomplicated so that it is easy to understand.
  • The product or service of the established plan must have unique features and specifications in order to help it be launched in the market.
  • It should be tested and all its details discussed before working on it by the relevant experts.
  • Before starting, you must make sure that you have all the financial, production, and functional information that you need to prepare it.
  • Making an initial draft before you start presenting it to the concerned authorities helps you in writing any urgent changes and developments on the project.
  • Make sure to prepare a professional-looking plan that initially includes an introduction and a table of internal contents, after the executive summary page. This table contains the plan’s parts and page numbers and is on the cover with the facility’s name, address, and year of incorporation.
  • Try not to exceed the 30-page plan, and focus in writing it on the quality and feasibility of the information, not the quantity.
  • Avoid spelling errors, review financial numbers accurately, be accurate and concise in information with clarity and credibility in all parts of the business plan.
  • You can use tools like Canva to help you prepare your business plan.


A business plan template is essential to the growth of companies, as it gives you an illustrated view of the situation of your company or project in the future from several angles, whether financial, marketing, and others.

It also shows you where you are now, where you will be after a certain period of time, what is the purpose of this journey and, and the ways you take to reach your goal and represents an expanded picture and a future vision for your project.

In this article, we have given you everything you need to know in order to write your own business plan. We hope that you liked the article, and we welcome any inquiries by contacting us.

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