how to do a 3 year business plan

3 Year Business Plan Template

In today’s fluid business environment, developing a structured and detailed business plan is essential for both small business startups, as well as large corporations. If you’re ready to develop a three-year business plan , you already know it is a thoughtful and essential approach to a sustained plan for growth and movement forward. However, tackling the complete business plan can be slightly overwhelming when you examine the components that go into such a document. We’re here to suggest solutions for a successful outcome in your process of completing a business plan. In this article, you’ll see the framework of a 3-year business plan template , segment by segment, which will create “digestible bites” for your thought processes; one step at a time. The many benefits of creating a three-year business plan are just ahead, so let’s get to work.

Download our Ultimate Business Plan Template here >

Three Year Business Plan Template

Executive summary.

The initial portion of your business plan will offer an executive summary that includes a brief sketch of the essential components of your plan: a business overview, success factors, and a three-year financial plan. This snapshot of your business enables busy executives or other stakeholders an opportunity to quickly review your business and make a quick decision to more fully explore the complete business plan that follows. And, further to consider, many lenders or investors will make a decision regarding your business based on the executive summary alone. As a result, the executive summary is as critical in and of itself as is the remainder of your business plan.

It will detail the type of business you’ve started, the business location, and the industry in which it operates. Detail only the salient facts in this summary and offer your mission statement, as well. Include in a few brief remarks, the success factors already achieved, and outline a clear, concise picture of the financial status of your business. Using the business plan helps to rein in any temptation to oversell your business; keep it concise and clear overall.

Company Overview

Next, the company overview section of the business plan is presented. Start with general statements and refine them as the overview continues. For example, “company name” operates in the “industry” sector, leveraging our expertise in “specific skills/experience.” Started in “date,” our primary products/services include a “list of products/services.” And, we are targeting a “specific target customer”, aiming to meet their needs and surpass expectations.” From this general idea, move to the company’s complete list of products or services, including the legal structure of the business, how the business operates, and the location(s) of business. Crucial information will also include the plans to generate revenue within the current status and a three-year forecast of financial projections.

The company description should also include major milestones already achieved, key customers, long-term contracts in place, and other primary facts; such as number of customers served, prototypes or products built, leases secured and employees hired. Each of these details is an indicator of business health and comparative success within the industry sector.

Industry Analysis

Next, an industry analysis will need to be compiled and shared in the business plan. An industry analysis is a crucial component of any business plan, as it provides an in-depth understanding of the market dynamics, trends, and competitive landscape. Include in your business plan the current and projected market size, including potential opportunities for growth. And, finally, analyze the current trends and dynamics within the industry. This may include technological advancements, regulatory changes, consumer preferences, or shifts in distribution channels. Highlight any emerging trends that may affect your business.

Customer Analysis

A full market analysis of your target audience follows the industry analysis. Identify the target market and its demographics, preferences, and buying behavior. Who are your customers? Do they want speed of delivery, a set price point, or comfort in ordering? Reading the data and responding satisfactorily can make the difference between a company that fails within three years and one that will thrive through it.

Review the data outlining the current target market trends and dynamics within the industry. This may include technological advancements, regulatory changes, consumer preferences, or shifts in distribution channels. Highlight any and all emerging trends that may affect your business. If, at this point, you’re wondering why the analysis of the industry and target audience are so thorough, you’ll be glad to know the results are critically integral to the marketing plan and sales strategies that follow these sections of your business plan.

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Competitor Analysis

The competitors you face in your industry need to be analyzed and thoroughly examined in order to win your target audience over the offers of your competitors. First, Identify your main competitors and evaluate their strengths, weaknesses, market share, and strategies. Determine what sets your business apart and how you can gain that competitive advantage if your business does not hold it already. Remember to support your analysis with relevant data, statistics, and market research. The industry analysis should demonstrate your knowledge of the industry and your ability to navigate its challenges successfully. Also, you’ll want to collect the data from secondary and indirect competitors, as well. Such competitors often take a leap into a larger market position while completely unnoticed.

In this section of the plan, turn the analysis on your business to examine the competitive advantages your business has to outperform both direct and indirect competitors. Expand on the  advantages of the business, such as the products or services offered, operational systems that outperform others, the ideal location of the business, and the intellectual property held by your business. These are salient factors that give your business a boost in terms of relevance and advantage.

Marketing Plan

The marketing strategy for the business is based on the status of current marketing efforts and data collected during the analysis of the industry, customers, competitors and internal processes of the business. It makes sense to pull all the elements together to form a cohesive marketing plan directed exactly to the ideal customer base. Include in this portion of the plan the current products and/or services, pricing and promotions plans. The business to date should identify its capability to generate revenue, resulting in profitability, a quality highly desired by lenders and investors. It proves that you have a solid plan for reaching new customers, you can attain new customers profitably, and the customer acquisition cost is significantly less than the customer lifetime value. Include in the plan sub-sections highlighting products, services and pricing, promotions plan and the product distribution plan.

Operations Plan

The operations plan is where reality meets expectations and, sometimes, it’s not a happy introduction. In a three-year business plan, much of the information is still speculative, while the present picture remains too new to extrapolate and analyze the data. A three-year business plan can, however, offer a healthy look at the present sales and revenue, strategic moves and options, paving the way to an informed look in years two and three ahead. The operations plan is affected by both the revenue collected or outstanding and the strategic moves that could follow.

Contained within the operations plan are the key day-to-day processes that have been accomplished within year one, as listed:

• Established a production facility/office that meets current and future needs.
• Developed strong supplier relationships to ensure a reliable supply chain.
• Implemented efficient inventory management systems to optimize stock levels.
• Hired and trained skilled personnel to handle production, sales, marketing strategy, and customer service.
• Implemented quality control measures to maintain high product/service standards.

The extent to which the key operational plan is detailed, lenders and investors will understand how developed your business is internally and externally, as well as how “hungry” for growth your business may be. These factors can exponentially affect future business.

Management Team

The introduction of the key management team in this plan is also indicative of your attention to detail and the drive you have to move toward years three, ten and twenty. Offer the name, title and background of each management person and include the members of the board of directors or board of advisors, if such exist within the corporate structure. These are the hungry executives, ready to work hard to make the business better for all. As the business owner, be sure to highlight your specific qualifications to run a successful business.

Financial Plan

Finally, introduce the financial plan at the end of the business plan. It is a multi-part framework for making decisions regarding how to parse out, invest, and best use the monies received. Based on the market analysis and sales forecasts, project the following financials for the next three years:

• Year 1: Revenue of [amount], with an operating expense of [amount].
• Year 2: Revenue of [amount], with an operating costs of [amount].
• Year 3: Revenue of [amount], with an operating expense of [amount].

Indicate when achieving profitability will occur, such as “by the end of Year One” and pinpoint when, at what date, the business expects steady revenue growth thereafter. The projections need to be based on conservative estimates and prudent financial management.

Provide a conclusion at the end of the business plan and construct the executive summary after the body of the business plan is complete. Indicate throughout the conclusion the processes that make it a viable document for the years ahead. Update the business plan as needed, during that time and continue to refer to the data and analyses collected, the conclusions formed and the ways in which competitors can be overcome by differentiation and better product positioning. After completing the business plan, you’ll have the confidence to share it as a viable, sustainable document that indicates a healthy foundation, a growing revenue stream and a solid plan for long-term growth and success ahead. Congratulations!

Click here to finish your business plan today.

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How to Write a Business Plan, Step by Step

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What is a business plan?

1. write an executive summary, 2. describe your company, 3. state your business goals, 4. describe your products and services, 5. do your market research, 6. outline your marketing and sales plan, 7. perform a business financial analysis, 8. make financial projections, 9. summarize how your company operates, 10. add any additional information to an appendix, business plan tips and resources.

A business plan outlines your business’s financial goals and explains how you’ll achieve them over the next three to five years. Here’s a step-by-step guide to writing a business plan that will offer a strong, detailed road map for your business.

ZenBusiness

A business plan is a document that explains what your business does, how it makes money and who its customers are. Internally, writing a business plan should help you clarify your vision and organize your operations. Externally, you can share it with potential lenders and investors to show them you’re on the right track.

Business plans are living documents; it’s OK for them to change over time. Startups may update their business plans often as they figure out who their customers are and what products and services fit them best. Mature companies might only revisit their business plan every few years. Regardless of your business’s age, brush up this document before you apply for a business loan .

» Need help writing? Learn about the best business plan software .

This is your elevator pitch. It should include a mission statement, a brief description of the products or services your business offers and a broad summary of your financial growth plans.

Though the executive summary is the first thing your investors will read, it can be easier to write it last. That way, you can highlight information you’ve identified while writing other sections that go into more detail.

» MORE: How to write an executive summary in 6 steps

Next up is your company description. This should contain basic information like:

Your business’s registered name.

Address of your business location .

Names of key people in the business. Make sure to highlight unique skills or technical expertise among members of your team.

Your company description should also define your business structure — such as a sole proprietorship, partnership or corporation — and include the percent ownership that each owner has and the extent of each owner’s involvement in the company.

Lastly, write a little about the history of your company and the nature of your business now. This prepares the reader to learn about your goals in the next section.

» MORE: How to write a company overview for a business plan

The third part of a business plan is an objective statement. This section spells out what you’d like to accomplish, both in the near term and over the coming years.

If you’re looking for a business loan or outside investment, you can use this section to explain how the financing will help your business grow and how you plan to achieve those growth targets. The key is to provide a clear explanation of the opportunity your business presents to the lender.

For example, if your business is launching a second product line, you might explain how the loan will help your company launch that new product and how much you think sales will increase over the next three years as a result.

» MORE: How to write a successful business plan for a loan

In this section, go into detail about the products or services you offer or plan to offer.

You should include the following:

An explanation of how your product or service works.

The pricing model for your product or service.

The typical customers you serve.

Your supply chain and order fulfillment strategy.

You can also discuss current or pending trademarks and patents associated with your product or service.

Lenders and investors will want to know what sets your product apart from your competition. In your market analysis section , explain who your competitors are. Discuss what they do well, and point out what you can do better. If you’re serving a different or underserved market, explain that.

Here, you can address how you plan to persuade customers to buy your products or services, or how you will develop customer loyalty that will lead to repeat business.

Include details about your sales and distribution strategies, including the costs involved in selling each product .

» MORE: R e a d our complete guide to small business marketing

If you’re a startup, you may not have much information on your business financials yet. However, if you’re an existing business, you’ll want to include income or profit-and-loss statements, a balance sheet that lists your assets and debts, and a cash flow statement that shows how cash comes into and goes out of the company.

Accounting software may be able to generate these reports for you. It may also help you calculate metrics such as:

Net profit margin: the percentage of revenue you keep as net income.

Current ratio: the measurement of your liquidity and ability to repay debts.

Accounts receivable turnover ratio: a measurement of how frequently you collect on receivables per year.

This is a great place to include charts and graphs that make it easy for those reading your plan to understand the financial health of your business.

This is a critical part of your business plan if you’re seeking financing or investors. It outlines how your business will generate enough profit to repay the loan or how you will earn a decent return for investors.

Here, you’ll provide your business’s monthly or quarterly sales, expenses and profit estimates over at least a three-year period — with the future numbers assuming you’ve obtained a new loan.

Accuracy is key, so carefully analyze your past financial statements before giving projections. Your goals may be aggressive, but they should also be realistic.

NerdWallet’s picks for setting up your business finances:

The best business checking accounts .

The best business credit cards .

The best accounting software .

Before the end of your business plan, summarize how your business is structured and outline each team’s responsibilities. This will help your readers understand who performs each of the functions you’ve described above — making and selling your products or services — and how much each of those functions cost.

If any of your employees have exceptional skills, you may want to include their resumes to help explain the competitive advantage they give you.

Finally, attach any supporting information or additional materials that you couldn’t fit in elsewhere. That might include:

Licenses and permits.

Equipment leases.

Bank statements.

Details of your personal and business credit history, if you’re seeking financing.

If the appendix is long, you may want to consider adding a table of contents at the beginning of this section.

How much do you need?

with Fundera by NerdWallet

We’ll start with a brief questionnaire to better understand the unique needs of your business.

Once we uncover your personalized matches, our team will consult you on the process moving forward.

Here are some tips to write a detailed, convincing business plan:

Avoid over-optimism: If you’re applying for a business bank loan or professional investment, someone will be reading your business plan closely. Providing unreasonable sales estimates can hurt your chances of approval.

Proofread: Spelling, punctuation and grammatical errors can jump off the page and turn off lenders and prospective investors. If writing and editing aren't your strong suit, you may want to hire a professional business plan writer, copy editor or proofreader.

Use free resources: SCORE is a nonprofit association that offers a large network of volunteer business mentors and experts who can help you write or edit your business plan. The U.S. Small Business Administration’s Small Business Development Centers , which provide free business consulting and help with business plan development, can also be a resource.

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How to make a business plan

Table of Contents

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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Step-by-Step Guide to Writing a Simple Business Plan

By Joe Weller | October 11, 2021

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A business plan is the cornerstone of any successful company, regardless of size or industry. This step-by-step guide provides information on writing a business plan for organizations at any stage, complete with free templates and expert advice. 

Included on this page, you’ll find a step-by-step guide to writing a business plan and a chart to identify which type of business plan you should write . Plus, find information on how a business plan can help grow a business and expert tips on writing one .

What Is a Business Plan?

A business plan is a document that communicates a company’s goals and ambitions, along with the timeline, finances, and methods needed to achieve them. Additionally, it may include a mission statement and details about the specific products or services offered.

A business plan can highlight varying time periods, depending on the stage of your company and its goals. That said, a typical business plan will include the following benchmarks:

• Product goals and deadlines for each month
• Monthly financials for the first two years
• Profit and loss statements for the first three to five years
• Balance sheet projections for the first three to five years

Startups, entrepreneurs, and small businesses all create business plans to use as a guide as their new company progresses. Larger organizations may also create (and update) a business plan to keep high-level goals, financials, and timelines in check.

While you certainly need to have a formalized outline of your business’s goals and finances, creating a business plan can also help you determine a company’s viability, its profitability (including when it will first turn a profit), and how much money you will need from investors. In turn, a business plan has functional value as well: Not only does outlining goals help keep you accountable on a timeline, it can also attract investors in and of itself and, therefore, act as an effective strategy for growth.

For more information, visit our comprehensive guide to writing a strategic plan or download free strategic plan templates . This page focuses on for-profit business plans, but you can read our article with nonprofit business plan templates .

Business Plan Steps

The specific information in your business plan will vary, depending on the needs and goals of your venture, but a typical plan includes the following ordered elements:

• Executive summary
• Description of business
• Market analysis
• Competitive analysis
• Description of organizational management
• Description of product or services
• Marketing plan
• Sales strategy
• Funding details (or request for funding)
• Financial projections

If your plan is particularly long or complicated, consider adding a table of contents or an appendix for reference. For an in-depth description of each step listed above, read “ How to Write a Business Plan Step by Step ” below.

Broadly speaking, your audience includes anyone with a vested interest in your organization. They can include potential and existing investors, as well as customers, internal team members, suppliers, and vendors.

Do I Need a Simple or Detailed Plan?

Your business’s stage and intended audience dictates the level of detail your plan needs. Corporations require a thorough business plan — up to 100 pages. Small businesses or startups should have a concise plan focusing on financials and strategy.

How to Choose the Right Plan for Your Business

In order to identify which type of business plan you need to create, ask: “What do we want the plan to do?” Identify function first, and form will follow.

Use the chart below as a guide for what type of business plan to create:

Is the Order of Your Business Plan Important?

There is no set order for a business plan, with the exception of the executive summary, which should always come first. Beyond that, simply ensure that you organize the plan in a way that makes sense and flows naturally.

The Difference Between Traditional and Lean Business Plans

A traditional business plan follows the standard structure — because these plans encourage detail, they tend to require more work upfront and can run dozens of pages. A Lean business plan is less common and focuses on summarizing critical points for each section. These plans take much less work and typically run one page in length.

In general, you should use a traditional model for a legacy company, a large company, or any business that does not adhere to Lean (or another Agile method ). Use Lean if you expect the company to pivot quickly or if you already employ a Lean strategy with other business operations. Additionally, a Lean business plan can suffice if the document is for internal use only. Stick to a traditional version for investors, as they may be more sensitive to sudden changes or a high degree of built-in flexibility in the plan.

How to Write a Business Plan Step by Step

Writing a strong business plan requires research and attention to detail for each section. Below, you’ll find a 10-step guide to researching and defining each element in the plan.

Step 1: Executive Summary

The executive summary will always be the first section of your business plan. The goal is to answer the following questions:

• What is the vision and mission of the company?
• What are the company’s short- and long-term goals?

See our  roundup of executive summary examples and templates for samples. Read our executive summary guide to learn more about writing one.

Step 2: Description of Business

The goal of this section is to define the realm, scope, and intent of your venture. To do so, answer the following questions as clearly and concisely as possible:

• What business are we in?
• What does our business do?

Step 3: Market Analysis

In this section, provide evidence that you have surveyed and understand the current marketplace, and that your product or service satisfies a niche in the market. To do so, answer these questions:

• Who is our customer? 
• What does that customer value?

Step 4: Competitive Analysis

In many cases, a business plan proposes not a brand-new (or even market-disrupting) venture, but a more competitive version — whether via features, pricing, integrations, etc. — than what is currently available. In this section, answer the following questions to show that your product or service stands to outpace competitors:

• Who is the competition? 
• What do they do best? 
• What is our unique value proposition?

Step 5: Description of Organizational Management

In this section, write an overview of the team members and other key personnel who are integral to success. List roles and responsibilities, and if possible, note the hierarchy or team structure.

Step 6: Description of Products or Services

In this section, clearly define your product or service, as well as all the effort and resources that go into producing it. The strength of your product largely defines the success of your business, so it’s imperative that you take time to test and refine the product before launching into marketing, sales, or funding details.

Questions to answer in this section are as follows:

• What is the product or service?
• How do we produce it, and what resources are necessary for production?

Step 7: Marketing Plan

In this section, define the marketing strategy for your product or service. This doesn’t need to be as fleshed out as a full marketing plan , but it should answer basic questions, such as the following:

• Who is the target market (if different from existing customer base)?
• What channels will you use to reach your target market?
• What resources does your marketing strategy require, and do you have access to them?
• If possible, do you have a rough estimate of timeline and budget?
• How will you measure success?

Step 8: Sales Plan

Write an overview of the sales strategy, including the priorities of each cycle, steps to achieve these goals, and metrics for success. For the purposes of a business plan, this section does not need to be a comprehensive, in-depth sales plan , but can simply outline the high-level objectives and strategies of your sales efforts. 

Start by answering the following questions:

• What is the sales strategy?
• What are the tools and tactics you will use to achieve your goals?
• What are the potential obstacles, and how will you overcome them?
• What is the timeline for sales and turning a profit?
• What are the metrics of success?

Step 9: Funding Details (or Request for Funding)

This section is one of the most critical parts of your business plan, particularly if you are sharing it with investors. You do not need to provide a full financial plan, but you should be able to answer the following questions:

• How much capital do you currently have? How much capital do you need?
• How will you grow the team (onboarding, team structure, training and development)?
• What are your physical needs and constraints (space, equipment, etc.)?

Step 10: Financial Projections

Apart from the fundraising analysis, investors like to see thought-out financial projections for the future. As discussed earlier, depending on the scope and stage of your business, this could be anywhere from one to five years. 

While these projections won’t be exact — and will need to be somewhat flexible — you should be able to gauge the following:

• How and when will the company first generate a profit?
• How will the company maintain profit thereafter?

Business Plan Template

Download Business Plan Template

Microsoft Excel | Smartsheet

This basic business plan template has space for all the traditional elements: an executive summary, product or service details, target audience, marketing and sales strategies, etc. In the finances sections, input your baseline numbers, and the template will automatically calculate projections for sales forecasting, financial statements, and more.

For templates tailored to more specific needs, visit this business plan template roundup or download a fill-in-the-blank business plan template to make things easy. 

If you are looking for a particular template by file type, visit our pages dedicated exclusively to Microsoft Excel , Microsoft Word , and Adobe PDF business plan templates.

How to Write a Simple Business Plan

A simple business plan is a streamlined, lightweight version of the large, traditional model. As opposed to a one-page business plan , which communicates high-level information for quick overviews (such as a stakeholder presentation), a simple business plan can exceed one page.

Below are the steps for creating a generic simple business plan, which are reflected in the template below .

• Write the Executive Summary This section is the same as in the traditional business plan — simply offer an overview of what’s in the business plan, the prospect or core offering, and the short- and long-term goals of the company. 
• Add a Company Overview Document the larger company mission and vision. 
• Provide the Problem and Solution In straightforward terms, define the problem you are attempting to solve with your product or service and how your company will attempt to do it. Think of this section as the gap in the market you are attempting to close.
• Identify the Target Market Who is your company (and its products or services) attempting to reach? If possible, briefly define your buyer personas .
• Write About the Competition In this section, demonstrate your knowledge of the market by listing the current competitors and outlining your competitive advantage.
• Describe Your Product or Service Offerings Get down to brass tacks and define your product or service. What exactly are you selling?
• Outline Your Marketing Tactics Without getting into too much detail, describe your planned marketing initiatives.
• Add a Timeline and the Metrics You Will Use to Measure Success Offer a rough timeline, including milestones and key performance indicators (KPIs) that you will use to measure your progress.
• Include Your Financial Forecasts Write an overview of your financial plan that demonstrates you have done your research and adequate modeling. You can also list key assumptions that go into this forecasting. 
• Identify Your Financing Needs This section is where you will make your funding request. Based on everything in the business plan, list your proposed sources of funding, as well as how you will use it.

Simple Business Plan Template

Download Simple Business Plan Template

Microsoft Excel |  Microsoft Word | Adobe PDF  | Smartsheet

Use this simple business plan template to outline each aspect of your organization, including information about financing and opportunities to seek out further funding. This template is completely customizable to fit the needs of any business, whether it’s a startup or large company.

Read our article offering free simple business plan templates or free 30-60-90-day business plan templates to find more tailored options. You can also explore our collection of one page business templates . 

How to Write a Business Plan for a Lean Startup

A Lean startup business plan is a more Agile approach to a traditional version. The plan focuses more on activities, processes, and relationships (and maintains flexibility in all aspects), rather than on concrete deliverables and timelines.

While there is some overlap between a traditional and a Lean business plan, you can write a Lean plan by following the steps below:

• Add Your Value Proposition Take a streamlined approach to describing your product or service. What is the unique value your startup aims to deliver to customers? Make sure the team is aligned on the core offering and that you can state it in clear, simple language.
• List Your Key Partners List any other businesses you will work with to realize your vision, including external vendors, suppliers, and partners. This section demonstrates that you have thoughtfully considered the resources you can provide internally, identified areas for external assistance, and conducted research to find alternatives.
• Note the Key Activities Describe the key activities of your business, including sourcing, production, marketing, distribution channels, and customer relationships.
• Include Your Key Resources List the critical resources — including personnel, equipment, space, and intellectual property — that will enable you to deliver your unique value.
• Identify Your Customer Relationships and Channels In this section, document how you will reach and build relationships with customers. Provide a high-level map of the customer experience from start to finish, including the spaces in which you will interact with the customer (online, retail, etc.). 
• Detail Your Marketing Channels Describe the marketing methods and communication platforms you will use to identify and nurture your relationships with customers. These could be email, advertising, social media, etc.
• Explain the Cost Structure This section is especially necessary in the early stages of a business. Will you prioritize maximizing value or keeping costs low? List the foundational startup costs and how you will move toward profit over time.
• Share Your Revenue Streams Over time, how will the company make money? Include both the direct product or service purchase, as well as secondary sources of revenue, such as subscriptions, selling advertising space, fundraising, etc.

Lean Business Plan Template for Startups

Download Lean Business Plan Template for Startups

Microsoft Word | Adobe PDF

Startup leaders can use this Lean business plan template to relay the most critical information from a traditional plan. You’ll find all the sections listed above, including spaces for industry and product overviews, cost structure and sources of revenue, and key metrics, and a timeline. The template is completely customizable, so you can edit it to suit the objectives of your Lean startups.

See our wide variety of  startup business plan templates for more options.

How to Write a Business Plan for a Loan

A business plan for a loan, often called a loan proposal , includes many of the same aspects of a traditional business plan, as well as additional financial documents, such as a credit history, a loan request, and a loan repayment plan.

In addition, you may be asked to include personal and business financial statements, a form of collateral, and equity investment information.

Download free financial templates to support your business plan.

Tips for Writing a Business Plan

Outside of including all the key details in your business plan, you have several options to elevate the document for the highest chance of winning funding and other resources. Follow these tips from experts:.

• Keep It Simple: Avner Brodsky , the Co-Founder and CEO of Lezgo Limited, an online marketing company, uses the acronym KISS (keep it short and simple) as a variation on this idea. “The business plan is not a college thesis,” he says. “Just focus on providing the essential information.”
• Do Adequate Research: Michael Dean, the Co-Founder of Pool Research , encourages business leaders to “invest time in research, both internal and external (market, finance, legal etc.). Avoid being overly ambitious or presumptive. Instead, keep everything objective, balanced, and accurate.” Your plan needs to stand on its own, and you must have the data to back up any claims or forecasting you make. As Brodsky explains, “Your business needs to be grounded on the realities of the market in your chosen location. Get the most recent data from authoritative sources so that the figures are vetted by experts and are reliable.”
• Set Clear Goals: Make sure your plan includes clear, time-based goals. “Short-term goals are key to momentum growth and are especially important to identify for new businesses,” advises Dean.
• Know (and Address) Your Weaknesses: “This awareness sets you up to overcome your weak points much quicker than waiting for them to arise,” shares Dean. Brodsky recommends performing a full SWOT analysis to identify your weaknesses, too. “Your business will fare better with self-knowledge, which will help you better define the mission of your business, as well as the strategies you will choose to achieve your objectives,” he adds.
• Seek Peer or Mentor Review: “Ask for feedback on your drafts and for areas to improve,” advises Brodsky. “When your mind is filled with dreams for your business, sometimes it is an outsider who can tell you what you’re missing and will save your business from being a product of whimsy.”

Outside of these more practical tips, the language you use is also important and may make or break your business plan.

Shaun Heng, VP of Operations at Coin Market Cap , gives the following advice on the writing, “Your business plan is your sales pitch to an investor. And as with any sales pitch, you need to strike the right tone and hit a few emotional chords. This is a little tricky in a business plan, because you also need to be formal and matter-of-fact. But you can still impress by weaving in descriptive language and saying things in a more elegant way.

“A great way to do this is by expanding your vocabulary, avoiding word repetition, and using business language. Instead of saying that something ‘will bring in as many customers as possible,’ try saying ‘will garner the largest possible market segment.’ Elevate your writing with precise descriptive words and you'll impress even the busiest investor.”

Additionally, Dean recommends that you “stay consistent and concise by keeping your tone and style steady throughout, and your language clear and precise. Include only what is 100 percent necessary.”

Resources for Writing a Business Plan

While a template provides a great outline of what to include in a business plan, a live document or more robust program can provide additional functionality, visibility, and real-time updates. The U.S. Small Business Association also curates resources for writing a business plan.

Additionally, you can use business plan software to house data, attach documentation, and share information with stakeholders. Popular options include LivePlan, Enloop, BizPlanner, PlanGuru, and iPlanner.

How a Business Plan Helps to Grow Your Business

A business plan — both the exercise of creating one and the document — can grow your business by helping you to refine your product, target audience, sales plan, identify opportunities, secure funding, and build new partnerships. 

Outside of these immediate returns, writing a business plan is a useful exercise in that it forces you to research the market, which prompts you to forge your unique value proposition and identify ways to beat the competition. Doing so will also help you build (and keep you accountable to) attainable financial and product milestones. And down the line, it will serve as a welcome guide as hurdles inevitably arise.

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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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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!

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 create a 3-year business plan

• March 15, 2024

12 Min Read

Whether you’re a budding entrepreneur or a skilled business owner, anticipating where your business will be in the next few years can be a challenging task.

That’s why it’s very important to have a strategic plan for the next three or even five years from now, which guides you to set big goals and ensures your business thrives in the competitive landscape.

If you feel like you need help or are unsure of how to create a 3-year business plan from scratch, we’re here to help you get started!

Explore our three-year business plan template that covers everything, from deciding on your long-term goals to figuring out how to reach them.

So, ready to begin? Let’s dive in and start by understanding what a 3-year plan is.

What is a 3 Year Business Plan?

A 3-year business plan is a professional document that serves as a strategic roadmap for your company’s future. It outlines business goals, strategies, financial statements, and growth plans for the next three years.

It helps you set clear objectives, define target customers, allocate resources effectively, mitigate potential risks, adapt to changing market conditions, and make informed decisions.

Ultimately, a well-crafted 3-year plan keeps you on track and drives sustainable growth and profitability over the specified timeline.

Why do you need a 3 year business plan?

Writing a solid business plan is one of the most crucial aspects of your entrepreneurial journey.

A 3-year business plan gives you a structural framework to think strategically about your company’s plans over the next few years. It helps you organize your business idea and guide your strategic decision-making.

The following are a few key reasons why it’s necessary to have an actionable business plan:

Highlights your long-term vision

A 3-year plan helps you articulate your long-term vision and define a set of strategic goals for your business over the next three years. This will allow you to stay focused on your objectives and manage your decision-making to navigate the complexities of your business landscape.

Increases investor’s confidence

If you’re looking for investors or stakeholders to fund your business expansion, a well-written 3-year plan is essential. It demonstrates your commitment to long-term growth and assures investors that your business will make profits. So, this will increase their confidence and trust in your long-term strategy.

Mitigates potential risks

Analyzing and identifying potential risks is the key aspect of any business. So, an actionable plan helps you develop strategies to mitigate those risks and ensure your business continuity. If there is economic volatility, regulatory transitions, or technical disruptions, a 3-year business plan helps you anticipate and prepare for business challenges.

Promotes strategic planning

A 3-year strategic business plan encourages you to think about the business and how to attain sustainable growth or success over the next few years. It also helps you make hiring decisions and predict future staffing needs. By identifying market trends, competitors, and internal capabilities, you can enhance strategies to capitalize on opportunities and reduce potential risks.

Now that you know why a business plan is beneficial, it’s time to understand what to include in a detailed 3-year plan.

What to include in a detailed three-year business plan

1. executive summary.

An executive summary is a brief introduction to your 3-year business plan and summarizes each component you will mention in the document.

Though it is the first section, it is written in the last as it provides a high-level overview of the complete business plan.

Since the executive summary is the introductory section of the plan, its primary goal is to quickly attract readers and convince them to delve further into the rest of your plan.

Here are a few details you may consider including in your executive summary:

• A quick overview of your business idea and objectives
• Your company’s vision statement
• Industry analysis and market research
• Sales and marketing strategy
• Key performance indicators
• Introduction of your management team
• Financial forecasts for the next three years

Remember, you should keep your summary simple, concise, and compelling enough to build investors’ or readers’ trust.

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2. Business Overview

As its name indicates, the business overview section provides a detailed description of your company. It includes all the essential information, starting from a business idea to its long-term goals.

Since you’ll give a brief company description in the executive summary, this chapter would be an expansion on it, providing an in-depth understanding of your business.

So, this section makes it easier for readers or potential business partners to quickly comprehend the nature of your business, such as what your company does, who are the targeṭ customers, and how you plan to meet future objectives.

You may include all the following crucial elements in this section:

• The type of small business you operate
• A brief history or background details of your business
• Achievements or milestones you’ve achieved
• Business legal structure(s-corp, LLC, sole proprietorship, etc.)
• Core values and mission statement
• Short-term goals and long-term objectives

3. Market Analysis

Industry and market analysis is a detailed breakdown of the external business environment. It provides a thorough understanding of the specific industry or sector in which your business will operate. 

This section helps your readers or potential investors to easily understand the broader industry, target customers, direct & indirect competitors, emerging trends, and market demands.

Apart from that, it helps you and your team to analyze and identify the untapped key areas in the market and develop strategies to stand out from the competitors.

Here are some specific details you may include:

• Market share and growth potential
• Target market
• Ideal customers along with their preferences
• Key competitors
• Current trends
• Regulatory environment

4. Product and Services

In the product and services section, you may provide details of your product or service range, main features, pricing, and more. It helps you demonstrate the current capabilities of your business and highlight the USPs.

So, you may consider adding the below points in this section:

• Product/service description 
• Pricing details
• Quality standards
• Product line development plan

While you’re planning how to start your own business, you have to explore the market and determine how your offerings will encounter customer problems and satisfy their needs better than competitors.

5. Sales and Marketing Strategies

Your sales and marketing plan outlines the strategies you’ll use to reach the target audience and how you’ll bring more customers by promoting your products/services to them.

A well-written marketing plan will encourage you to create effective campaigns and simplify your marketing efforts while maintaining the marketing budget and maximizing return on investment.

Thus, you may describe a list of sales strategies and promotional tactics to attract new customers and retain existing ones. 

Here’s a list of key components you may include in this section:

• Target audience
• Marketing strategy
• Sales approach
• Sales and marketing goals
• Customer retention program

6. Operations Plan

As you’ve mentioned your business goals in the previous sections, now it’s time to define how you’ll meet those goals.

In your operations plan, you’ll need to outline all the details of everyday business operations and activities. This will help you and your team to define responsibilities, daily tasks, and short-term goals you plan to achieve, keeping track of your future goals.

Well, here is some distinct information you should include in the operations plan:

• Staffing and training
• Operational process
• Supply chain & Inventory management
• Facilities and equipment

Note that your operations plan is a living document, you may adjust and update it as needed.

7. Management Team

A well-trained and experienced management team is crucial for driving your business ahead. 

So, highlight your business owners and key executives in this section, along with their roles & responsibilities, educational qualifications, industry experience, and how you plan to compensate them. 

It allows readers to easily understand your management team’s background, skills, and expertise that help you grow your company and make informed business decisions. 

The following information you may consider including in the management team section:

• Company owner profile
• Resume-styled summary of key members
• Organizational structure
• Compensation plan
• Advisory board members

8. 3-year Financial Projections

A financial plan is the most crucial aspect of your three-year business plan, as potential investors or lenders want to know more about your business’s net profit margins.

It provides a detailed blueprint of your business’s 3-year financial reports broken out both monthly or quarterly for the first year of operation and then annually. 

While creating an in-depth, strategic plan for the next 3-years, you’ll need to highlight all the below factors:

• Revenue forecast
• Operating costs
• Profitability analysis
• Cash flow projections
• Break-even analysis
• Business ratios

In addition, if you’re seeking a business loan or angel investor, you will need to summarize exactly how much money you need, how you plan to use those funds, and how you pay it back.

Well, having realistic financial forecasts at your hand can help you evaluate your business’s financial health and growth potential in the long run.

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Tips for creating a three-year business plan

Now that you understand what to include in a business plan, it’s time to consider how you’ll actually create the document. Here are some tips for drafting a comprehensive three-year business plan.

This will help you prepare a business plan that serves its purpose and can be an easy reference for the years ahead.

1. Conduct potential market research

Conduct a thorough analysis of the market, competition, internal capabilities, and the current financial situation of your business before you finalize your three-year plan. Also, identify your strengths and address weaknesses. This helps you pinpoint potential risks and opportunities that impact your business and strategic decisions for the next few years.

2. Set realistic financial goals

While setting your business objectives, it’s important to define specific, measurable, and achievable goals that you can accomplish in the years ahead. Try to consider a few factors, such as marker conditions, emerging trends, and your business capabilities when setting revenue targets, profit margins, and other financial milestones. This will help you stay focused and motivated.

3. Demonstrate the potential for ROI

A 3-year plan should effectively show the investors and stakeholders that your business has the potential for return on investment(ROI). It will help you outline how your strategic initiatives will generate revenue and profitability over the next three years. So you can provide a clear opportunity for investment and support.

4. Develop contingency plans

Developing a contingency plan is crucial for the potential challenges that may arise over the next few years. You can consider several factors like economic downturns, supply chain disruptions, regulatory changes, or other unforeseen events. This will mitigate the impact of these risks and ensure that your business runs smoothly even in challenging circumstances.

5. Ensure clear communication

A detailed three-year plan allows entrepreneurs and business owners to clearly communicate their business goals, milestones, and strategies. So this will be easy to understand for all the stakeholders, including potential partners, investors, and employees. You can also use charts, graphs, and visuals to share intricate details and make your plan more compelling.

6. Review and update regularly

Once you have created the entire business plan, you should regularly schedule reviews to assess progress, update assumptions, and adjust strategies as needed. Since the business plan is a living document, it evolves over time based on new facts or varying business environments. By revising and updating your plan, you make sure that it will remain relevant and effective.

So, try to keep in mind these few factors while making a three-year business plan. Now, let’s move forward and explore several types of business plan templates.

Examples of 3-year business plan templates

As there are several types of 3-year business plan templates available, no two business owners prepare the same kind of 3-year plan.

This is so because the business plan template that works best for your company depends on the age of your business, objectives, and the purpose behind using the plan.

Here are a few examples that are tailored to different aspects of business planning:

Traditional three year business plan template

This kind of business plan template follows the standard format as you establish a new business or startup, define the target audience, and market your products/services. It includes lengthy sections about company overview, market analysis, sales and marketing strategy, or financial forecasting. So, this will provide a detailed plan for your business over the next 3 years.

Strategic plan for growth and expansion

When you’ve been running the business for a few years and thinking about expansion or growth, a strategic growth plan might be your choice. It will help you approach your growth strategically and provide the best opportunities to identify risks and techniques to mitigate them. So, this type of template helps align your business activities with long-term objectives.

Simple one-page plan

As the name suggests, it is a single-page business plan that helps you provide a high-level overview of your business to the partners, investors, or other stakeholders. Since it is shorter in length, it highlights the most crucial points, and even writing a one-page business plan can be much simpler and quicker compared to the traditional business plan.

Start preparing your business plan

Finally, with the help of details and resources provided in this guide, you’re well-equipped to start an exciting journey of preparing a successful 3-year business plan.

Whether you’re an experienced entrepreneur or a new business owner, you can consider using a business plan app like Upmetrics to streamline your business planning approach.

Upmetrics is a user-friendly platform that provides easy-to-follow guides, 400+ business plan examples, and AI support to create an actionable plan in manageable steps. It also helps you develop realistic financial projections if needed or when you feel stuck with a financial plan.

So, start writing your plan today and bring your vision to life!

Make your plan in half the time & twice the impact with Upmetrics

Fill-in-the-blanks, AI-assistance, and automatic financials make it easy.

Frequently Asked Questions

Is it good to make a 3-year strategic plan.

Creating a 3-year or long-term plan is highly beneficial for your business. It helps you set clear goals, anticipate potential risks & challenges, develop a realistic financial outlook, demonstrate growth potential to investors, and build their confidence. So, it guides you in the right direction to attain sustainable growth and success over the long term.

How much detail should I include in the financial projections?

The following are a few key elements that you need to include in your financial projections:

• Sales forecast
• Expenses budget
• Cash flow statement
• Profit and loss statement (Income statement)
• Balance sheet
• External funding needs

How long should my 3-year business plan be?

The length of a 3-year business plan typically ranges from 15-35 pages and beyond as it depends on your purpose, business concept, objectives, resources you plan to use, and the strategies you will need to achieve your business goals.

Can I write a business plan myself?

Of course, you can write your business plan by yourself. If you are new to the planning process, you may get help from various resources available, such as business plan software, online guides, templates, strategic planning sessions, and professional writers.

What's the best way to format my 3-year plan?

The best way to format your 3-year plan depends on your specific needs, target market, and business strategy. You may follow the below guidelines to create a professional-looking business plan:

• Write a compelling executive summary
• Provide a detailed company overview
• Conduct thorough market and industry analysis
• Describe the products and services
• Outline sales and marketing strategy
• Summarize operations plan
• Introduce your management team
• Present 3-year financial forecast

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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3 Year Strategic Plan Example PDF: A 3 Year Plan for Business Growth in 2024 and Beyond

By Jessica Wishart

Strategies for Growth

Working on your 3-5 Year Strategic Plan (PDF) is a best practice during your 2-day annual planning session, but what should the outcome of that time look like? What do you need to accomplish in that time? How does it connect to your mission statement?

3-Year Business Plan Foundation:

• 1-3 Targets
• 2-3 Strategic Winning Moves for Revenue.
• 1-2 Strategic Winning Moves for Profit

3 Year Strategic Plan Examples PDF

Obviously, no cookie-cutter plan or template works for every company, but if you are struggling with a place to start or curious about what a plan might look like, here are some examples of each component of your 3 Year Plan. (For these examples, I will focus on the 3-year time horizon. Based on industry standards and your own growth goals, determine whether you want a 3 Year Plan—or 4 or even 5—to double the revenue for your company. Choose a specific time horizon, focus on that period, and choose the appropriate goals for the required team members.  The shorter the time frame, the more detailed the action plan and clarity around SMART goals with Rhythm Systems SMART AI Goal Coach has 20 years of experience behind it.  ( How to Write a Goal ).

Most companies track revenue as a Target in your 3 year strategic plan. Consider if there are other important strategic metrics for your business, and add those to your list. Think about your goal to achieve in 3 years, what the goal is for this year, and what the goal is next year to help you get there. You can't manage what you can't measure.  

• 2024 Goal: $50 m
• 2025 Goal: $70 m
• 2026 Goal: $100 m
• # of Customers
• 2024 Goal: 200
• 2025 Goal: 300
• 2026 Goal: 450
• Gross Margin
• 2024 Goal: 30%
• 2025 Goal: 35%
• 2026 Goal: 40%

Other examples of Targets could be Net Profit, EBITDA, # of Locations, Revenue by Product Line, Revenue/Employee, Net Income, etc. Do individual business units require their own targets and goals? Now is the time to discuss them.

3-Year Strategic Plan Video

You can download our free strategic planning example template by clicking below.

Strategic Winning Moves for Revenue

Most companies grow in a few ways: acquisitions, organic growth, or expanding into new products, services, or markets. Depending on your business, industry, and specific opportunities and challenges, you should think through and determine the right mix of Winning Moves to help you achieve the Targets you set for your 3-Year Plan in your planning session . Your Winning Moves should help you double your revenue in the next 3-5 years. Make sure that the objective is as clear as you can make.  By definition, you won't know all the answers, but the better the team understands the mission - even if the details aren't clear - the more they are connected to the why, the more they can help in strategy development.

Examples of Winning Moves for revenue growth could include strategies like the following:

• Successfully integrated 3 key acquisitions
• Launch our core product to customers in Asia
• Monetize internal database technology solutions (package and sell to companies)
• Increase wallet share by 8%.
• Create additional products and services for our core customers.
• Increase recurring revenue and service contracts by 12%.

Other examples could be things like developing a new product, shifting your business to a subscription model, selling your product or service to a new industry, etc. The best ideas for how to grow your business will come from you and your team. If you have trouble brainstorming and choosing ideas, we have a proven process to help.

Strategic Winning Moves for Profit.

These strategies are all about maintaining profitability as you grow. If your company doubles in revenue over the next 3 years, what do you need to have in place from an infrastructure perspective as you scale (or from a leadership and talent growth perspective)?

Examples of Winning Moves for Profit:

• Expand IT infrastructure to support growth
• Generate a consistent engine to hire, develop, and retain A-Players in management roles
• Increase revenue per employee by 25%
• Reduces employee churn 18%
• Implement Artificial Intelligence to boost productivity 15%

How to Build Your 3-Year Plan:

Once you’ve identified the right mix of Winning Moves (no more than 3-5 total), you should do the following with each:

• Assign an Owner on your team—one person to be accountable for moving the idea forward.
• Set Red-Yellow-Green success criteria for each to create alignment on what success and failure would be on each goal.
• Set Revenue Projections on each Winning Move for the next 3 years. Compare this to the revenue Target you set in your 3-year plan, providing a number one long-term goal. If your revenue projections on your Winning Moves don’t add up to your revenue Targets, you have more work to do.
• Identify and test assumptions for each Winning Move. What has to pan out for your financial model to work? Consider your assumptions, and validate those before you spend time, money, and energy on your strategies.
• Build an execution plan . Your annual and quarterly execution plans should link back to your Winning Moves and advance your strategy with the planning process.
• Discuss opportunities and threats - both short-term and long-term.

Establishing your 3-year strategic plan will help you get closer to achieving your long-term visionary BHAG and give your annual plans a strategic anchor. If you aren’t sure how to get started, let one of our expert facilitators guide you.

We hope you enjoy our strategic plan template; please feel free to  drop us a line if we can help.

Check out these other blogs on three-year strategic plans..

The CEO Strategy-Execution Gap...And How To Fix It

Choose Your 3 Year Strategic Growth Initiatives Wisely With This 4-Step Process

5 Steps to Getting Started on 3 Year Strategic Plans with Winning Moves

Have you been able to validate your 3-Year Strategic Plan?

Robust 3-Year Strategic Plans to Grow Revenue and Stay Competitive

16 Strategic Planning Tips to Keep Your Strategic Plan Alive

Don't Confuse Strategic Thinking And Strategy Execution Plans

9 Steps to a New Revenue Growth Strategy [Infographic]

Photo Credit:   iStock  by Getty Images

Jessica Wishart

Photo Credit: iStock by Getty Images

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Strategic growth initiatives: create your 3 year strategic growth plan wisely, create 3 year strategic plans with revenue growth, two truths and a lie: the sears saga and your 3-5 year strategic plan, strategy validation: have you validated your 3-5 year strategic plan, 3 year strategic plans to grow revenue and stay competitive.

Annual & Quarterly Planning

Annual Strategic Planning: Reflecting and Planning for a Great Year

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

May 24, 2021

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 Start a $1M/Month Tow Truck Business

Did you know that 69 million vehicles need to be towed each year?

That’s nearly 190K people who call up a towing business every day.

We talked to Vanice and Vincent Serrano, founders of ASAP Towing, to find out how to start a tow truck business that makes more than $10M each year. They provide insights on how towing services make money, how to hire employees, how to become a tow truck driver, and more.

[su_note note_color="#dbeafc"] We’ll share insights, strategies, and tips. Click on one of the links below to learn more about starting a tow truck business, or just continue reading.

Tow Truck Business Case Study: ASAP Towing

Learn about the towing industry, step #1. identify your target market, step #2. research local regulations, step #3. create a tow truck business plan, step #4. consider a startup loan, step #5. register your business, step #6. open a business bank account, step #7. get tow truck business insurance, step #8. get the required licenses and permits, step #9. buy equipment and tools, step #10. develop and implement a marketing strategy, step #11. provide great customer service, frequently asked questions, hiring tips, top towing influencers.

• Conclusion [/su_note]

Vincent grew up working in auto repair shops owned by his dad, but he wanted to have a business to call his own. They already owned a tow truck and had land, so they decided to start a new tow truck company.

The business venture was mostly Vanice and one employee during its first year. About 18 months in, Vincent had to quit his day job and work at ASAP full time because it was making $250K per year.

The local tow truck company offers towing services for breakdowns, lockouts, accidents, impounds, and more. Check out our interview with Vincent and Vanice below.

Before we discuss how to start a towing company, it’s important to learn all about towing and how the industry operates. We’ll discuss:

• The cost to start a tow truck business
• The amount towing vehicles makes
• Industry profit margins
• Major players
• Industry outlook
• Legal requirements
• How to get a tow truck driver license

How much does it cost to start a tow truck business?

Vincent told us starting your own towing company requires around $10,000 to get a truck, licenses, and towing equipment. We’ll discuss individual costs more in other sections.

How much do tow truck drivers make?

As of January 26, 2024, the average salary for a U.S.-based tow truck driver is $44,198, with a range of $38,820–$50,211, and an average hourly rate of $18.54.

You’ll normally want to pay yourself this salary in addition to some profits from the business when you are an owner-operator.

Your location, experience, employer, skills, and education may impact the pay for tow truck driver jobs. Some drivers will also get bonuses and tips.

According to Indeed , the tow truck driver salary is highest in the following cities:

• Milwaukee, WI
• Sacramento, CA
• Los Angeles, CA
• Las Vegas, NV

How much profit can a towing business make?

Transportation businesses normally make 30.59% gross margins and 5.91% net margins. Some people who own towing companies make up to 33.65% profit, which means that the Serranos are likely bringing in somewhere between $700K and $4 million in profits.

Who are the major players in the towing business?

Because many tow truck businesses are privately held companies, it is difficult to find accurate revenue numbers for the largest towing businesses. Along with ASAP Towing, some other large tow truck businesses include:

• United Road Towing : Dun & Bradstreet (D&B) estimates United Road Towing’s annual revenue to be $99M .
• Jamie Davis Towing : ZoomInfo estimates annual revenue is under $5M for this towing company.
• Certified Towing: Revenue is estimated at $1M , according to D&B .

What is the towing industry’s outlook?

IBIS World values the U.S. towing industry at $12.5B and expects it to grow around 2.9% in 2024. They expect it to continue growing at a faster rate after inflation settles down.

Any industry that exceeds the GDP growth in the U.S. is a great one to enter as a business owner.

What are the requirements for a tow company?

Before starting a tow truck company, you will need various tools, permits, and licenses. Consult your local small business office, the DMV, or a lawyer who specializes in tow truck businesses.

A tow trucking company will normally need:

• Drivers with class B driver’s licenses
• Business structure as a limited liability company (LLC) or corporation
• Comprehensive auto insurance with uninsured motorist insurance and higher limits than the state minimum (no less than $250K, but $1M is better)
• Business insurance
• High physical damage insurance
• An oversized vehicle permit (depending on what you will be towing)
• Indictment management permit (if towing without consent)

How to Get a Tow Truck License

To drive a truck with below a 26,000-pound towing capacity, you only need a regular driver’s license. You’ll need a commercial driver’s license (CDL) for anything bigger.

That means you’ll need to take a CDL course, which takes about a month. Then you’ll need to pass the DMV test.

Next, we’ll look at how to start a tow truck business.

How to Start a Tow Truck Business

Starting a tow truck business requires special considerations because of the nature of dealing with vehicular accidents and repossessions. You’ll want to follow the process below to start a successful towing business:

1. Identify your target market. 2. Research local regulations. 3. Create a business plan. 4. Consider a startup loan. 5. Register your business. 6. Get the required licenses and permits.

7. Buy equipment and tools. 8. Develop a marketing strategy. 9. Get liability insurance. 10. Open a business bank account. 11. Provide excellent customer service.

Keep reading to learn how to start a towing business.

Tow truck companies use multiple business strategies to bring in revenue. An indispensable strategy is identifying your target market. Potential customers include:

• Insurance companies: Companies like AAA and Roadside America need towing and roadside assistance for their customers.
• Government agencies: These entities impound cars and need someone to tow them. Not that there may be minimum truck requirements.
• Banks and lenders: Repossession services work with banks and lenders. Learn more about repo laws on the American Recovery Agency website .
• Motorists: Towing businesses can also work with civilians to tow vehicles when they break down or are otherwise immovable.
• Subcontracting: Many businesses outsource their towing needs.
• Automotive companies: A towing business might also work with car dealerships and auto auctions to deliver cars to dealerships or customers.

Every towing business needs to understand the local, state, and federal laws that the automobile towing industry operates under. Make sure to check the regulations for all levels of government based on the towing services you provide.

A tow truck operator will normally be governed by federal law in two scenarios:

• Maximum towing capacity for different types of trucks
• Interstate commerce laws, which come into play when commercial vehicles cross state lines

States and local governments will often have laws and regulations that govern the tow truck industry, including minimum tow truck insurance and CDL requirements.

You don’t have to write a towing business plan, but it won’t hurt. It will help you keep track of how your towing company is progressing toward its goals. Tow truck business plans should follow a process similar to this:

• Find customers.
• Get your permits and licenses to drive a tow truck.
• Start your company.
• Buy a tow truck.
• Start towing vehicles.
• Follow a marketing plan to take on more work.
• Buy more trucks.

Download our business plan template, then check out our interview with Mike Andes on how to write a business plan below:

Starting a towing business isn’t cheap. With the cost of a flatbed truck, tow truck insurance, commercial auto insurance, and small business insurance, you can expect to spend $10K to start a towing company. Other sites estimate the tow truck business startup cost can range from $62 to $2M .

• Personal funds or assets
• A loan from family or friends
• Funds from a business partner
• Government programs
• Crowdfunding
• Credit cards
• Home equity loans
• Business loans ( Check out our partners .)
• Rollover for business startups (ROBS)

The Small Business Administration (SBA) offers free courses on financing options and funding programs . For info on using personal funds to start a business, check out this article from The Hartford .

Registering a tow truck business will require you to:

• Choose a business name: You’ll want a tow truck business name that is available as a website domain name, social media handle, and registered business name with your secretary of state and the U.S. Patent and Trademark Office. Check domain availability on GoDaddy .
• Create a business structure: You’ll want to get either an LLC or a corporation when starting a tow company. You do not want to get a sole proprietorship because it will expose your personal assets to a lawsuit if you get in a wreck with the tow truck.
• Apply for an EIN: An employer identification number (EIN) is required to file taxes for business entities on the IRS website. It is also used to associate employee payroll taxes with the correct company.
• Acquire a sales tax permit: Most states have a sales tax, and you need to adhere to their requirements. This blog isn’t the place to discuss the permits for all 50 states, but Avalara has a guide on sales tax permits . Check it out.
• Labor law posters: All employers must display workplace posters that signal they’re following labor laws. You can download them from the Department of Justice website . You must also follow all hiring laws.
• Unemployment Insurance (UI): You’ll have to pay about $420 per employee on a federal level plus any state UI. Check the U.S. Chamber of Commerce for more information.

Having an open bank account for your business is crucial to keeping your personal finances and tow truck business finances separate. If you have a limited liability company or a corporation, you’ll also need it to get business loans and personal liability protection.

If you have a business bank account, you can also get a business credit card and potentially commercial truck financing.

You’ll want a variety of insurance policies when you own tow trucks. You’ll want:

• Auto liability insurance: covers the vehicle owner if one of their tow truck drivers gets in a wreck
• Uninsured motorist insurance: covers your flatbed truck and your employee if an uninsured driver hits the vehicle
• Workers compensation insurance: covers the medical fees and lost work if employees get hurt or killed on the job

When you own tow truck company assets, you’ll also want various types of business insurance, like general liability, a business owner's policy, and commercial property insurance. Try Simply Business to get quotes from many of the best business insurance companies.

As stated, tow trucks may require you to apply for additional permits and licenses. We suggest anyone who wants to tow vehicles reach out to a local business law attorney to verify that they have complied with all laws and regulations.

One of the major business expenses for a successful towing company is the cost of flatbed trucks for hauling wrecked vehicles. Some of the places you can find the different types of tow trucks include:

• A bank repoed tow truck sale
• Auto auctions
• Failing tow truck businesses
• Commercial Truck Trader

You’ll want to focus on marketing when starting a tow truck business. Vincent suggests using the following marketing for tow trucks:

Instagram and Facebook

• Videos platforms

Launch a Website

Creating a website helps people get the information they need about the services you offer, how much they cost, and where your business is located.

Some services you might list on your website include:

• Roadside assistance
• Repossession services
• Impounding and storage
• Vehicle auctions
• Heavy-duty towing services

Tow places should optimize their website for search engines for search engines. For example, adding a Google Map location to their website’s footer can help it show up higher on Google.

Vincent told us he has one company that does his videos, another that does search engine optimization, and a third that does social media. You can find all-encompassing services, as well.

Your business budget should include some expenses for advertising on Google. Vincent told us:

[su_quote] ”We’re spending a little over $1,000 per month on Google right now.” [/su_quote]

Vincent told us that he is fairly new to Instagram, but it is starting to provide some returns. He said he has found success on Facebook.

Like many business owners, Vincent is starting to get into video marketing.

When you start a tow truck business, you can create videos about the common types of calls a tow operator gets. You can also explain how to do things like change a battery, replace a tire, and what to do in an accident—but make sure not to give any legal advice.

How much should a towing business spend on marketing?

Established tow truck companies should spend between 2% and 10% of desired revenue on marketing, depending on whether they are marketing their towing business to businesses or consumers. Business-to-consumer companies normally spend more on marketing.

According to entrepreneur Thomas Minieri , new companies should spend up to 20% of their target revenue on marketing to help them grow faster. You will normally want to spend between 15% and 20% of your budget on advertising costs.

Despite the suggestions, many small business owners spend much less on marketing. For instance, both Kenneth and Vanice spend less than 1% of their revenue on marketing.

Tow companies need to provide great customer service. Whether you’re towing for law enforcement, a business, or people in need of repairs, you should try to be compassionate.

Towing companies often provide emergency roadside assistance, but some partner with other businesses to transport vehicles that are (often unintentionally) parked illegally. When someone gets their car towed, remember they may not have known that their car was parked improperly.

Now that you know how to start a tow truck business, let’s look at some frequently asked questions about the industry.

We’ll start with the question on everyone’s mind:

How much do tow trucks cost?

There are a few different types of trucks:

• Flatbed tow truck for sale
• Ramp trucks for sale
• Wrecker truck for sale
• Integrated tow truck for sale

In most cases, expect to spend $25K or more.

How can I start a successful tow truck business with no money?

You have to start somewhere. Kenneth suggested the following solutions:

• Can you finance?
• Can you get a lease on a truck?
• Can you ask friends and family?

He also told us:

[su_quote] I went looking for a loan so I could buy a tow truck and found out that you can’t get a loan to start a business unless you’ve been in business for two years.

I wound up going into it on a lease, rent to own. The truck sold for $50,000. By the time I’m done paying for the truck, it’ll be $106,000. [/su_quote]

He went on to say:

[su_quote] The benefit of leasing is you can get into a vehicle with a limited amount of money. The downfall of it is, if you don’t find the right leasing company, you’re gonna be paying them to double whatever the original amount was. So do a little diligence and find out. If they say there’s no puny penalty for prepayment, make sure that the amount is going to be adjusted. [/su_quote]

There are more ways to fund a towing company.

Common funding paths include:

• Personal funds or personal assets

The SBA offers free courses on financing options and funding programs . For info on using personal funds to start a business, check out this article from The Hartford .

Running the tow truck company is what you will spend most of your time doing. This includes aspects like hiring employees, helping customers, keeping inventory in stock, accounting, and payroll.

Kenneth had a lot to say about hiring drivers. He said the most important aspects of drivers are:

• Do they have the required licensing?
• Do they stay in communication with the owner?
• Do they have mechanical experience, or are they willing to learn?

Without the required licensing, they won’t be able to earn money. But the other aspects are more important to focus on for the bigger picture. Here’s what he had to say about communication:

[su_quote] [An employee is valuable] when they stay in contact with you and they keep you aware of what’s going on with your vehicle. If they’re having any problems, just tell me what your problem is. And I will give you the answer, ’cause my job is to help you. [/su_quote]

He also emphasized the importance of being mechanically inclined:

[su_quote] I’ve hired three people in the last month. I had to fire one quick because I explained to ’em, you know, the truck needs maintenance. I can’t be driving 16 hours a day and work on my truck, your truck, and everybody else’s truck.

It’s just not gonna happen. You have to take care of the truck. So, if you don’t know how to be a car mechanic, that probably is a tough spot to begin with.

I’m even willing to teach you what you need to know. I don’t have a problem with that because we succeed together as a team or we fail as a team. [/su_quote]

Find out what other people in the industry are doing:

• Jamie Davis Towing: Check out his YouTube Channel
• Get Hooked: A towing industry Podcast

We’ve covered how to start a tow truck company; now it’s your turn to get the licenses and permits, find some customers, get a truck, and start towing.

If you’ve already started one, what has been the most challenging part of starting an independent towing service?

How to Start a $9K/Month Carpet Cleaning Business (with $3K Budget)

• Developing the skills to run a carpet cleaning business.
• Choosing a name for a carpet cleaning business.
• Writing a business plan for a carpet cleaning business.
• Registering a carpet cleaning business.
• Funding a carpet cleaning business.
• Preparing for launch
• Operating a carpet cleaning business
• Marketing a carpet cleaning business

Step 1: Developing the skills to run a carpet cleaning business

• Customer Service
• Inventory and Equipment Management
• Technical Skills Required for Carpet Cleaning Businesses

Is carpet cleaning an excellent business to start?

Step 2: Choosing a Name for the Carpet Cleaning Business

Does the name explain the carpet cleaning business, is the carpet cleaning business name easy to spell, does the carpet cleaning business name include your location, does the branding fit the carpet cleaning business.

Register a .com

Give it a go, step 3: writing a carpet cleaning business plan.

• Marketing Plan
• Financial Statements and Financial Projections

Step 4: How to Register a Carpet Cleaning Business

 Licenses, Permits, and Taxes

Options for business structures, sole proprietorship, limited liability corporation (llc), partnerships and corporations, apply for an ein, state/local business licenses, unemployment insurance, step 5: funding a carpet cleaning business.

• What equipment, software, and inventory do I need?
• How much will the carpet cleaning equipment cost?
• Will I need a location where customers can come? If so, how much will it cost?
• What are the costs for marketing and a website?
• Will the company have employees or sub-contractors?
• How much money is currently available to start a carpet cleaning service?
• How many routine customers do I have? Will the current revenue and savings cover costs?
• How much financing do I need?
• How will I get the financing?

How much does it cost to start a cleaning business?

Personal savings, loans or gifts from friends and family, small business loans, crowd funding, credit cards.

• "Isn't this risky? Shouldn't you go get a job?"
• "Can I get your service for free?"

Step 6: Preparing to start a commercial cleaning business

• Getting equipment, inventory, and other supplies.
• Creating a website.
• Setting up social media accounts.
• Signing up for payment processors.
• Setting up a Customer Relationship Management system and other administrative software.
• Establishing a physical location if necessary.
• Getting general liability insurance.

Carpet Cleaning Equipment, Inventory, and Other Supplies

• A truck or van - Just search "dealerships near me." They should have a truck that works.
• A Carpet Cleaning Machine -  Bissell , Janilink , and Hoover are some brands to consider. 
• Carpet Cleaning Tools - Make sure they are compatible with the model of the machine you buy.
• Cleaning products - Make sure they are compatible with the model of the machine you buy. Eco-friendly products can be used as premium or differentiating products.

Create a website

Setting Up Social Media Accounts

• Facebook - Selling products or services to people over 30.
• LinkedIn - Selling products or services to other businesses.
• Twitter - Best for current events.
• TikTok - Best for products and services for kids and teens
• Instagram - Best for products and services targeting people under 35.

Choosing a payment processor

• At different locations
• A combination of the above

Setting up a CRM and other administrative software

Finding a physical location, getting business insurance.

• General liability insurance- Used when a freak accident occurs. Typically $1m/2m coverage is needed, but it varies based on location and type of business.
• Professional liability- Used when the work you are doing causes damage. If a carpet cleaner causes mold, this will cover the mold remediation service.
• Cybersecurity insurance- This insurance protects against cyber attacks. If your systems are hacked, it will help protect your company.

Step 7: How to operate a carpet cleaning business

• Sending emails
• Performing marketing tasks
• Handling payroll
• Doing interviews
• Keep consistent business hours. If customers don't know when you'll be available, they'll go to someone who they know is available.
• Provide estimates you know you can meet. A customer would rather be quoted more and spend less than be approached for more money later. The same goes for time.
• Set time aside for life. Entrepreneurs are notorious workaholics. If you don't make time for the other aspects of life, they will suffer and seep into your work.
• Keep business and personal accounts separate. Depending on your legal structure, this is mandatory.
• Put 50% of the revenue aside for ongoing expenses, tax payments, and business re-investment. If you don't do this, you'll eventually have a scenario where you have to come up with the money you don't have.
• The customer expects their home to be spotless when you leave. Use Industry best practices like wearing booties in their home to protect the customer's property.

Step 8: Marketing Your Commercial Carpet Cleaning Companies

Related reading.

• Strategies for Success Facebook Page
• Flow , by Mihaly Csikszentmihalyi - Free PDF Download
• Mason's Network Facebook page
• The Time Paradox , by Philip Zimbardo. Free Audiobook with Audible Trial.
• Small Business Development Center Courses - Add  Your Zip Code for your SBDC.
• The Structure of Scientific Revolutions , by Thomas Kuhn- 2nd Edition PDF
• Stanley Steemer - Requires a phone call.

How to Start a $4.2M/Year Reselling Business

What is a Reseller Business?

How to make money reselling, is a reseller a home-based business, how much do resellers make, step 1. what can i resell to make money, step 2. research your niche market, step 3. create a reseller business plan, step 4. find resale products, step 5. create your resale business model, step 6. implement your sales strategy, step 7. start marketing your reselling business, step 8. manage your inventory and sales, step 9. expand your reselling business, go resell with your own ecommerce business.

• Buy the products 
• Pay business expenses

How to Become a Reseller Business

• Decide what resale items you’ll sell
• Research your market
• Create a business plan
• Find products to buy and sell
• Start your business
• Create a sales strategy
• Start marketing
• Manage your inventory and sales
• Expand your reselling business
• Consumer Electronics
• Resell Clothes and Accessories
• Software and Digital Product Reselling
• Car Accessories
• Antique Furniture
• Collectibles

Electronics

Clothing and accessories.

Software and Digital Products

• Identify potential customers
• Create a buyer persona
• Analyze your competition

Identify Potential Customers

Create A Buyer Persona

Research your competition.

• Include an executive summary 
• Define the products or services
• Identify your target market
• Explain the pricing strategy and how you will make a profit
• Include a marketing and sales strategy
• Provide financial projections and a break-even analysis
• Search for directories of suppliers online
• Go to places you can purchase products
• Vet suppliers
• Get samples
• Negotiate the terms of the agreement

Search for Supplier Directories Online

• Reference USA : The website claims to have over 400 data points on the majority of businesses in the U.S including which wholesale supplier provides each of their products and when the last shipment was.
• ThomasNet : Search a wholesale database by size of company, compliance standard, types of products, and annual sales.
• Wholesale Centra l : Search their database or check out one of their tradeshows.
• Worldwide Brands : This wholesale supplier directory only lists the highest level of wholesalers and dropshippers. Cut out middle men and get the lowest prices possible.

Go To Places That Sell Items

• Online Marketplaces
• Trade Shows
• Industry Events
• Used Clothing Store
• Social Media Sites
• Other Retailers
• Estate Sales

Vet Potential Suppliers

Request Samples

Negotiate with suppliers.

• Business Structure : LLCs and corporations are popular types of businesses for resellers.
• Resale Permit : Most states have a resale permit (sometimes called a resale certificate). These allow you to buy products without paying tax. Learn more about each state’s resale permits.
• Business License : May be required by state or local governments to operate legally. This permit business license allows you to purchase goods from wholesalers without paying sales tax, as you will collect it from your customers when you resell the products.
• Business Account From Bank : Make sure to get a business bank account to keep your business finances separate.

• Listing on Amazo n: Find out how to sell products on the world’s largest online marketplace by dropshipping products .
• Niche Marketplaces : Selling on specialty platforms can be a great way to sell products fast. With StockX you can resell the product immediately if there is a bid you are willing to accept on the type of product you are selling.
• Your Website : If you don’t get sales through a website, you’re leaving a lot of money on the table because a business grows by collecting data and increasing lifetime customer value. Learn how to create a website.
• Social Media : You can develop a following and sell on social media. Learn to earn on TikTok .
• Retail Store : Sell in your own retail store or provide wholesale orders to other retailers.

Setting Prices

Creating a brand, networking , providing great customer service.

• Amazon Seller Central
• Zoho Inventory

• Upsell customers. A reselling business can do this both in person and in your own ecommerce store.
• Increase your marketing spending.
• Start reselling additional products.
• Create a customer loyalty program.
• Partner with or buy other businesses.
• Add a retail store.
• Expand to other regions.
• Open a reselling business e-commerce store if you don't already have one.

nice work https://binarychemist.com/

My Name is PRETTY NGOMANE. A south African female. Aspiring to do farming. And finding a home away from home for the differently abled persons in their daily needs.

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Mastering the 3 Year Business Plan

• Goals & Strategies

The first thing to consider in the 3 Year Business Plan is the same as in a one year or five year plan – consider what direction your company should be going in. Answer why that direction is important, and it’ll be easier to identify what objectives need to be achieved, understand where there might be some gaps and challenge points ahead, and how your team will work on those issues and opportunities to realize your potential.

Knowing Where You Want To Go in the 3 Year Business Plan

In considering your direction, ask yourself: do you have the capabilities to realize your goal? This could be a function of product offerings, your ability to drive innovations or with your organizational effectiveness, or the ability to drive profitability – among many other considerations.

From a leadership perspective, it’s crucial to truly understand your organization’s strengths, weaknesses, the objectives before you, and what will be required to build a high level roadmap.

Creating the Framework for a Successful 3 Year Business Plan

Some key drivers in almost any organization that you’ll want to measure in achieving your goals include sales, the cost of sales, and overhead investments. These are levers with significant impact, and they influence (and are influenced by) other aspects of your business. These metrics are your first important elements of a framework you can customize to understand progress towards your goals, and might also include products and innovation, organizational excellence, people and leadership. Get input and buy-in from other department leaders or managers as you determine your goals and measurable targets, and make sure there’s alignment on where organizational focus will be.

It’s good to have ambitious goals, but connect them to three or four value drivers you realistically influence. Other “wishlist” items can become part of the framework when and if new resources, like people or money, make them easier to focus on. Focus on winning big with a few select items rather than mediocrity across several.

Staying Disciplined To Your 3 Year Business Plan

Business and marketplace dynamics are always changing, which is why a framework created by key drivers in your business is important. Is your drivers include new products and innovation to help reach your 3 Year Goal, then even as things around your business change that focal point does not. You might find things are taking longer, or less time, or are shifting in ways you didn’t expect – but the key driver remains.

A 3 Year Plan isn’t something you build one year and revisit three years later. It’s a living, breathing thing. The framework and value drivers of your business will adapt and evolve, but if you’re focused on a few big wins you can better stay disciplined to those outcomes and avoid chasing shiny objects or having to essentially build a new plan every year. This is where annual, quarterly, and monthly goals and reports are all key considerations to the whole – those should be driving you towards your long-term vision and achievement, and and course corrections required should be relatively minimal from month to month.

Guiding the 3 Year Business Plan

Guidance, discipline, and vision for the 3 Year Plan needs to come from the functional leaders of your team. It’s their responsibility to cascade functional goals, objectives, mandated performance objectives throughout the organization. A key component of this is the CFO , who has the unique position and understanding of all the departments or people that are managing your key drivers. In addition to real-time guidance on how drivers are performing relative to goals, your CFO should be an active part in helping you create your sustainable long term vision and achieve your 3 Year Plan.

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The 3 year plan: Build a roadmap to success

Jump to section

What’s a 3 year plan?

15 questions to ask yourself before creating a 3 year plan

How to make a plan, 3 year plan examples, plan for success.

Where do you want to be three years from now? 

Perhaps you want to transition to independent contracting or ascend to a C-suite position. Or maybe you want to leave your company and go at it alone. No matter how you imagine your future, a surefire way to inch closer to your career objectives is by mapping it out step-by-step, year by year. 

Creating a detailed 3 year plan is a useful strategy for visualizing short-term professional aspirations and charting a course to achieve them. Tracking your progress helps you work with purpose, find a sense of accomplishment, and prioritize tasks that contribute to your end goal.

What’s a 3 year plan? 

A 3 year plan is a series of strategic and specific actions aimed toward a particular goal or objective. It’s a course designed to help you manage your decision-making and resource allocation to ensure you’re working toward the desired outcome. 

With a clear action plan that centers specific goals in your planning, you’re empowered to make decisions that support your end target and deprioritize work that doesn’t contribute. Developing a plan with structured goals is a great way to work with more intention — plus, it encourages organization and time management in your day-to-day work. 

A 1 year or 2 year plan can help you map out short-term career goals. Maybe you want to learn a programming language or earn a certification to help you stand out from your peers. And for big career transitions or life-altering aspirations, such as becoming a certified actuary or launching a startup, a 5 year plan or 10 year plan may be a more realistic timeline. 

A 3 year plan is useful for starting on long-term goals related to personal or professional development, like implementing a personal brand strategy or enhancing an industry-specific skill. They must be attainable within the three-year timeframe without dragging on for too long. 

Effective goal planning requi res you to reflect on your starting point and future objectives. You don’t want to decide on a 3 year plan impulsively — this time frame is a serious commitment. 

Thinking deeply about your goals encourages you to stay realistic and build a plan that fits into a long-term mission. Here are some questions you should ask yourself to reveal your most pressing aspirations:

What are the ethical values and principles that guide my career path ? 

What’s my long-term personal vision and life plan ? How does a 3 year plan fit into these? 

How can I explain my goal in a concise mission statement? 

What specific goals, expertise, or know-how do I want to develop or improve in the next three years? 

Are there any specific certifications or degrees I want to pursue? 

Does my plan fit into other career milestones, such as an internal promotion , a leadership role, or industry recognition? 

How could I build a networking plan to help me achieve my goal? 

Do I have a community of friends and colleagues who can provide me with emotional support? 

How can I break my final goal down into smaller milestones?

What financial resources do I need to dedicate to my goal? 

How much time do I need to dedicate per day, week, or month to reach my goal? 

Do I need to turn to a mentor or career coach for guidance? 

Which key performance indicators and metrics can I use to measure my progress? 

What obstacles stand in my way? Do I have money or time constraints, a skill gap, or a lack of self-confidence ? 

How regularly will I monitor my progress? Will I set weekly goals, monthly goals, and quarterly goals? 

Three years might sound like a small amount of time in the grand scheme of your career. But, when used effectively, it can be a significant period for setting and achieving professional goals. 

Here’s how to develop a strategic 3 year plan to propel you forward in your profession:

1. Understand the ‘why’

Think deeply about what you really want and why you want it. 

Knowing you hope to improve your communication skills, for example, empowers you to define specific skills to practice, like negotiation or active listening. But understanding the “Why” can help you deepen your development plan. Improving your communication skills to get larger pledges from fundraisers is a more specific goal. With this knowledge, you might join a workshop to improve your storytelling or have a weekly goal to cold call one new high-value donor. 

Likewise, according to self-efficacy theory , setting goals that make you feel in control makes you more likely to achieve them . Let’s return to that fundraising example. If you want to improve your communication skills because you feel pressured to bring in bigger donors, you’ll likely struggle to stay motivated . But when you set your own goals, you’re more likely to take negative feedback in stride and build stronger strategies for success. 

2. Find the one

Goal-setting theory suggests that specific and challenging goals consistently lead to higher performance . But too much of anything — including ambition — can be counterproductive. 

Goal shielding theory suggests the mind naturally sheds goals when you have too many at once . As you successfully advance towards one goal, you tend to ignore or abandon the others . To do your best work, narrow down your objective to one core focal point. It’ll encourage you to maintain clarity and avoid feeling overwhelmed and burnt out . Later in the planning process, you can break down your larger focal goal into several smaller complementary goals, if necessary. 

3. Research, research, research

How realistic is your goal? Do some due diligence before you get started to ensure your objective is within reach. 

Beyond researching any financial, resource, or time commitments, look into the strategies you need to adopt to achieve your objective. A web developer who wants to become proficient in a new programming language may need to connect with a coach and improve their time management to balance work with their learning objectives. 

Likewise, research courses, workshops, and groups to support your efforts. Following people in your industry on LinkedIn or meeting new colleagues at networking events allows you to glean advice from other people’s successes. 

4. Prepare a contingency plan

Lots of things can change over the course of three years. Your 3 year strategic plan should anticipate interruptions, roadblocks, and changes. Here are a few obstacles that might pop up unexpectedly:

Time constraints: Carefully analyze your daily, weekly, and monthly schedules. How much time can you realistically dedicate to your 3 year plan? Are there times in the year when you have more or less time? Maybe your job gets busy at the end of the year, and you’ll need to take a break or work less on your final objective. Or perhaps certain months are always slow — and that’s when you can bulk up your dedication. 

Steep learning curve: A 3 year plan is a big goal. Maybe you’re laying the groundwork for a small business or teaching yourself a new coding language. Reaching your objective may be more complex than you initially anticipated, so look into resources that can support you if things go south. This way you can maintain the energy you need to keep yourself in a growth mindset no matter what challenges arise. 

Blows to motivation: Staying motivated and consistent throughout a three year career journey isn’t easy for anyone. Consider what keeps you motivated and work that into your 3 year plan. Join a professional community that will celebrate your milestones with you. And break your goal into small, achievable initiatives to keep your enthusiasm high and visualize your progress. 

Burnout: Hitting your goal shouldn’t sacrifice your well-being. Take breaks when you need them, practice self-care, and maintain a work-life balance. Prioritizing yourself helps you respond better to stress that could otherwise derail your progress.

5. Break your plan down

Using the SMART goal-setting framework , break your 3 year objective into smaller steps. Each step should be:

A helpful way to envision each step is to move backward. Break your final objective down into progressively smaller achievements and milestones. Setting yearly, monthly, and weekly goals encourage you to consistently check in on your progress. 

T o stay motivated, consider sitting down each Monday and reviewing your goals for the week. Establishing a routine can transform a hard-to-imagine 3 year pl an into a more attainable daily habit. 

Let’s look at two examples of 3 year plans and explore them in more depth. You can use these plans as inspiration or as templates and edit them based on your goal. 

Transition to freelance work: year-by-year

Imagine a data analyst who works full-time for a marketing agency and wants to fully transition to independent contracting. Here’s a possible 3 year plan template with yearly goals: 

Year 1: Create a financial plan to comfortably leave a full-time salary, identify weaknesses and improve your skill set, and define a target market to improve your professional network. 

Year 2: Create a professional website and revamp your personal brand, establish an LLC, and use a professional network and portfolio to line up new clients.

Year 3: Schedule out projects for the remainder of the year, transition out of your full-time job, and continue professional learning and self-promotion.

Transition to freelance work: month-by-month

Let’s break this plan down further. Here’s what monthly goals might look like for year one:

January: Research and evaluate finances, including your desired income, and budget a savings buffer.

February: Audit your current skill set and define areas for improvement. Research relevant courses and workshops to upskill and re-skill. 

March: Attend industry events and actively engage with professionals to identify the best target market. 

April: Sign-up for a two-month intensive course in artificial intelligence for qualitative and quantitative research. 

May: Practice verbal presentation skills for the Q2 quarterly meeting and ask colleagues for feedback while completing your course. 

June: Speak with your manager about opportunities to take on more client-facing roles and gain hands-on experience as you finish the course.

July: Evaluate progress in the first six months of year one. Review financial plans and evaluate changes for the rest of the year. 

August: Continue attending industry events and expanding your professional network. 

September: Begin a three-month Google Analytics certification course. Set aside 10 hours per week to dedicate to coursework. 

October: Continue the Google Analytics certification course. 

November: Complete the Google Analytics course. Evaluate your progress in year one, review your financial plan, and make necessary adjustments to the year two plan. 

December: Take a break to focus on end-of-year work responsibilities and the holiday season. 

Break down each year like this as you progress to continue moving toward your overarching objective. 

Some of your career dreams might feel lofty. After all, you’re pushing yourself past your comfort zone and imagining a new and different professional future. But you can get there — all you need is a good map. 

Depending on your goal, a 3 year plan may be the right time frame to make significant changes to your career path. Think carefully about the ‘what,’ the ‘why,’ and the challenges you may face. Take stock of your current resources and note what you’ll need to get from A to B. And don’t forget to set a concrete plan for maintaining your wellness along the way.

All if this careful attention to detail will help you build a strong and impactful plan to turn your dream into a reality. The next step? Getting started.

Transform your life

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Elizabeth Perry, ACC

Elizabeth Perry is a Coach Community Manager at BetterUp. She uses strategic engagement strategies to cultivate a learning community across a global network of Coaches through in-person and virtual experiences, technology-enabled platforms, and strategic coaching industry partnerships. With over 3 years of coaching experience and a certification in transformative leadership and life coaching from Sofia University, Elizabeth leverages transpersonal psychology expertise to help coaches and clients gain awareness of their behavioral and thought patterns, discover their purpose and passions, and elevate their potential. She is a lifelong student of psychology, personal growth, and human potential as well as an ICF-certified ACC transpersonal life and leadership Coach.

Dare to daydream: How to overcome lack of ambition

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How do I Write a Three-Year Business Plan?

• Small Business
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How to Write a Business Plan for Starting a Day Care Center

Final summary for a marketing plan, what is a business plan template.

• How to Write a Business Plan for a Salon
• How to Write a Description for a Business Plan

Although some small businesses manage to grow successfully without a formal business plan, creating a business plan for the short term serves two valuable purposes. The first is internal: A three-year or five-year business plan helps you focus on the steps you need to take get your business up, running and growing. Second, the plan communicates to outsiders the nature and seriousness of your undertaking. This is especially important for fundraising purposes. A lender is unlikely to extend credit to a new business without reviewing a plan for the first few years of operation.

Writing your three-year business plan is relatively straightforward and revolves around several major themes.

Describe Your Business

Include a compelling description of what it is, exactly, you plan to do. This is more than a simple statement of goods or services, like, "I want to sell office supplies" or "My company will make bicycles." Lay out the features of your business that will help it to stand out in a crowded market and draw in customers who usually have plenty of other options to choose from. Make clear, to yourself as well as to others, what the competitive advantage of your business is (or will be).

Include timing in your description. Your first year startup operations will look different from a more mature venture during your third year. Lay out the key steps to your transition over time.

Include your product line in the business description. But if your product is unique – a new invention, say, for which you hold the patent, or the world's best cupcakes – then create a separate section to highlight your product line.

Analyze Your Potential Market

Who will be your customer base? A store opening in the financial district of a city will have a very different set of customers than one across the street from the city zoo, and an online operation will have a very different clientele than any brick-and-mortar stores.

Be as specific as you can. If you plan to sell a product to schools, for example, describe the number and types of schools in your area and provide information on the amount of money they spend on external supplies and services.

How You Will Handle Marketing and Selling

Getting the word out is an important part of any business strategy. Perhaps you plan on hiring an expanding team of salespeople. Advertising, social media marketing, local print and radio – there are almost endless variations of how marketing is carried out. Again, lay out your time sequence. First-year marketing of a brand new business will look different from third-year marketing for a more mature operation.

Financial Ins and Outs

A fact of life for most new businesses is that you have to spend money before you begin to make money. Your plan should carefully and realistically account for the anticipated expenses to start up and then operate your business, as well as the income you expect as sales begin and then grow over time. Your financial projections will form the basis of any requests you make to funders for loans or investments in your operations.

Business Management and Organization

Explain how your business will be organized and who the principle players are. This is an opportunity to really polish the resumes for yourself and your key managers: Describe what expertise they bring to the business, years of experience and so on. Don't be shy – you have to sell yourself just as ambitiously as you plan to sell your products.

Your business plan can get lengthy, but try to keep it concise and add an Executive Summary for those who prefer a quick read.

• "Entrepreneur": Business Plans
• SBA.gov: Write Your Business Plan
• SBA: Business Plan Template
• When seeking capital investment, it may be wise to offer two financial sections: a conservative growth section and a best-scenario section. This shows the potential of growth but provides a realistic alternative should things not go ideally.

David Sarokin is a well-known Internet specialist with publications in a wide variety of business topics, from the best uses of information technology to the steps for incorporating your business. He is the author of The Corporation, Its History and Future (Cambridge Scholars, 2020) on the role of big business in the modern world, and Missed Information (MIT Press, 2016), detailing how our social systems like health care, finance and government can be improved with better quality information.

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Strategic Business Planning: Create a Powerful 3-5 Year Business Plan

Business owners need  strategic business planning  to maintain a competitive and profitable company. A three to five-year business plan will help you get there.

Having no plan is planning to fail. Without a well-thought-out business plan, you’ll run the risk of generating few results for your customers. You want to be productive, not just busy. 

A three to five-year business plan tells investors where you currently are, where you want to go, and how you’ll get there. 

Our #1 tip for getting started with a business plan

When you write your  business plan , be sure to use bullets and subheads outlining your topics and ideas. Breaking up the text will help people follow your train of thought and your goals. Remember to include SWOT analysis, a mission and vision statement, and  KPIs . 

Start your business plan with an executive summary. 

Lead with your executive summary. The executive summary aims to give readers a birds-eye-view of what your three to five-year business plan contains. You’ll provide more details on the key points in the executive summary throughout the rest of the plan.

Although you’ll start the business plan with the executive summary, you want to save writing it last. That gives you the best chance of leading with the most critical points in the rest of the plan and ensures the summary is concise and on-point. 

Give your mission statement.

A mission statement is a succinct description of the main objectives of your business and what you hope to achieve. It won’t be long — just a few sentences. But despite its brevity, a mission statement will take some time to craft. 

Clearly explain what your business is all about, why it exists, whom it serves, and where it wants to be in the future. The mission statement should fully encapsulate and communicate your vision. 

Conduct a SWOT analysis. 

SWOT stands for:

• Opportunities

Take an honest look at your team leaders and your company. What are you doing great? What needs some improvement? 

List the opportunities you see in the market and any threats that may stand in your way of capitalizing on those opportunities. 

List your strategic goals in the business plan next. 

Lofty aspirations have their place. But in a strategic business plan, you want to list specific, actionable, and measurable goals you wish to achieve. 

A goal may require more than one specific action, a fluctuating budget, or changing personnel resources. Goals you hope to achieve over several years will also require you to outline the smaller goals and action plans they’ll need to get you from point A to B. 

Outline your KPIs. 

Strategic plans need measurable goals. Your KPIs or key performance indicators will help you communicate how you’ll measure your success. Start with the result you want to achieve, and then work backward to communicate KPIs to your readers adequately.

Get started with strategic business planning today. 

At C&A, we work closely with business owners to create strategic business plans and organization planning for achieving long-term goals.  Contact us today  for a free consultation.

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Crafting a Three-Year Strategic Plan: The Roadmap to Success – “Strategy is something that comes before tactics.” – Simon Sinek 

by Guy | Oct 5, 2023 | Board & Governance , Business - General , BusinessFitness , Excellence , Leadership , Strategy , Success | 1 comment

In today’s rapidly changing business landscape, strategic planning is the roadmap that defines where a business is headed and how it intends to get there. A well-crafted three-year strategic plan not only sets the direction but also aligns the entire organisation toward a common purpose. It’s the blueprint for your success.

This month’s theme is “Strategy and Planning” as we start to prepare for the year ahead, with this article focused on the crucial topic of crafting a three-year strategic plan. A three-year timeframe provides a balance between short-term agility and long-term vision. It allows you to set ambitious yet achievable goals and provides a roadmap for growth and successfully achieving these goals.

We’ll explore the significance of setting or updating your BHAG (Big Hairy Audacious Goal) and breaking it down into SMART (Specific, Measurable, Achievable, Relevant, and Time-bound) near-term goals that people can better identify with.

It’s important to emphasise the need to start the planning process early if you’re to have the time to do it properly: setting meeting dates with the board and your team to formulate the direction and plan, culminating in board approval and effective communication to your staff, so they can start the new year with their goals firmly in mind.

Let’s embark on this strategic journey together.

First: Your Business Analysis

Before diving into strategic planning, it’s essential to conduct a thorough analysis of your business and its environment – you can refer to some of last month’s articles on “Assessing Your Situation” for this (links to these can be found at the end of this article).

A SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) helps you identify internal strengths and weaknesses, as well as external opportunities and threats. By understanding these factors, you can make informed decisions and capitalise on your strengths while mitigating potential risks.

Start by assessing your internal strengths. What are your core competencies? What unique value do you bring to the market? Identify areas where you excel and can differentiate yourself from competitors. Simultaneously, be honest about your weaknesses and areas that need improvement. This analysis will help you identify opportunities for growth and areas where you need to allocate resources for improvement.

Next, evaluate the external landscape. What market trends and opportunities exist? Are there any emerging technologies or changes in consumer behaviour that could impact your business? Additionally, consider potential threats such as new competitors or regulatory changes. By understanding the external factors that influence your business, you can proactively adapt and position yourself for success.

Then update your Competitor Analysis – by understanding what they have done well and poorly, you can gain insights into how they are likely to behave in the future. The analysis also provides a benchmark against which you can measure your performance and identify areas for improvement, giving you the information necessary to develop your own strategies and tactics to stay ahead of the competition.

With this background analysis complete, identify 3-5 priority areas to focus on. These initiatives will help you respond to your current business context and move towards your long-term vision.

Examples may include expanding into new markets or segments, enhancing technology capabilities, improving customer experience, implementing sustainability practices, or developing leadership bench strength.

The Foundation: Your BHAG

Having updated your background information and priorities, setting or updating your BHAG is the next step in crafting a three-year strategic plan. Coined by Jim Collins and Jerry Porras in their book “Built to Last,” a BHAG (Big Hairy Audacious Goal) is a visionary and ambitious goal – daring, yet achievable – that stretches the organisation’s limits and provides a clear focus for the future; it inspires and unifies your team.

Revisiting and refining your BHAG is the first step in the strategic planning process. Ask yourself, and/or brainstorm with your team:

• Has our BHAG evolved with changing market dynamics and our growth trajectory?
• Does it still resonate with our staff and other stakeholders?
• Is it ambitious enough to fuel our passion and determination for the next three years?

A well-defined BHAG should be inspiring, challenging, and specific to your organisation’s mission. It’s not just about achieving a financial target but creating a meaningful impact on your industry or community.

For example, consider Merck’s stated BHAG from the 1930s, “ Transform this company from a chemical manufacturer into one of the preeminent drug-making companies in the world.”

And remember that it’s essential that your BHAG is aligned with your vision, mission and values.

Breaking Down the BHAG: SMART Near-Term Goals

With your BHAG established or refined, the next critical step is to break it down into more relatable way points. This is crucial for progress and momentum as it prevents people stalling when the climb appears too great.

For example, working back from a financial BHAG, determine where you would need to be after year 2 to achieve this, and then what your financial picture should look like at the end of the 1 st year. Then, break this first year down into quarters, and the first two quarters into months. By doing this, you’re testing the achievability of the goal and can then modify it, or the steps to it, as necessary.

As a different example, if you had set a more embracing BHAG, along the lines of Merck’s (longer term) one referenced above, you might break it down in the following way:

Year 1: Focus on foundational goals that lay the groundwork for future growth. These goals might include market research, product development, or operational improvements.

Year 2: Build on the achievements of the first year and pursue more ambitious milestones. This is the time to expand into new markets, enhance customer experience, or invest in talent development.

Year 3: Consolidate previous progress and set the stage for further expansion and innovation. This could involve scaling operations, exploring strategic partnerships, or launching new products or services.

Once you’ve broken down the BHAG into more relatable steps, you need to ensure these steps can be captured in a measurable form. You need SMART goals: Specific, Measurable, Achievable, Relevant, and Time-bound. These provide clarity and ensure everyone understands their role in achieving the larger vision.

• Specific : Goals should be precise and clear. Avoid vague objectives that leave room for interpretation. Define exactly what you want to accomplish.
• Measurable : Establish criteria for measuring progress. Metrics are your best friends here. Define how you’ll measure success, whether it’s revenue growth, market share, or customer satisfaction.
• Achievable : While it’s essential to aim high, ensure that your goals are realistic. Stretching your capabilities is admirable, but setting unattainable targets can demotivate your team.
• Relevant : Goals should align with your organisation’s values and mission. They should resonate with your team and stakeholders, creating a sense of purpose.
• Time-bound : Set clear deadlines. A goal without a timeline is merely a wish. It should be evident when you expect to achieve each milestone.

Let’s consider an example: Suppose your BHAG is to become a market leader in your industry. A SMART near-term goal could be: “Increase our market share by 15% within the next 12 months by launching two new product lines and expanding into two new geographical markets.” This goal is specific, measurable, achievable, relevant, and time-bound.

Use this to build a set of goals that map you path to the BHAG, just as directions on your navigation system will tell you which roads to use and when to turn at each point.

Moving From Desire to Success: Execution Plans

Of course, all the BHAGS and SMART goals in the world amount to little more that wishes unless you know how you are going to do it, so the next step is to develop your execution plan.

As Sun Tzu said, “Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.” (Sun Tzu)

Your SMART goals can easily be translated to OKRs (Objectives and Key Results), from which you will set KPIs (Key Performance Indicators), defining specific actions, owners, resources required, budgets, timelines, and risks/mitigation plans, initially for the leadership team, and having these cascade down by the leaders setting KPIs for their teams, and so on.

This cascade approach will be done in conjunction with those at each successive level, so allowing them to participate in the process and buy into the goals. By enhancing ownership in this way, the likelihood of success is greatly increased.

The Early Start: Being Ready for the New Year

One common mistake in strategic planning is starting too late. Waiting until the end of the current year to begin planning for the next can hinder your ability to make informed decisions and implement changes effectively.

To set your organisation up for success, consider starting the strategic planning process well in advance. Begin as early as September or October to ensure you have sufficient time to:

• Gather Data : Collect and analyse data from the current year. Review performance, market trends, and customer feedback. Identify areas of strength and weakness.
• Engage Your Team : Involve key stakeholders in the planning process from BHAG, through SMART goals, OKRs to KPIs. Your leadership team, department heads, and even front-line employees can provide valuable insights and perspectives and this participation encourages accountability.
• Set Meeting Dates : Schedule regular meetings with your board and leadership team. These meetings should be planned from the beginning of the process and extend through November. This timeline allows for thorough discussions, revisions, and alignment.

Board Approval and Communication: The Final Steps

As you near the end of your strategic planning process, the involvement of your board becomes paramount. Their approval and support are essential to ensure the successful execution of your plan.

• Board Approval : Schedule a dedicated meeting with your board in late November or early December. Present your strategic plan, including your BHAG, SMART goals, and the rationale behind them. Address any questions or concerns and seek their approval.
• Communication to Staff : Once your strategic plan has board approval, it’s time to communicate it to your staff. Transparency is key here. Share the plan’s highlights, emphasising the organisation’s vision, goals, and their role in achieving them. Encourage questions and feedback to foster a sense of ownership.
• OKRs (Objectives and Key Results) & KPIS (Key Performance Indictors) : To ensure alignment and accountability, establish OKRs for each department or team within your organisation, and KPIs at an individual level. OKRs provide a framework for tracking progress and measuring success, while KPIs give each person a clear idea of their role in achieving the goals. Ensure all teams have their OKRs and KPIs defined before the start of the new year.

The Path Forward: Transformation and Growth

Crafting a three-year strategic plan is a journey of transformation and growth. It aligns your organisation’s efforts, propelling it toward a shared vision of success. Remember, your strategic plan isn’t a static document; it’s a dynamic roadmap that should adapt to changing circumstances and market dynamics.

By setting or refining your BHAG, breaking it down into SMART near-term goals, setting the execution plan with OKRs and KPIS clearly defined, starting early, and engaging your team, board, and staff, you’ll be well-prepared to navigate the challenges and opportunities that lie ahead.

As you embark on this strategic journey, keep in mind that it’s not just about the plan itself, but the process of creating it. Involve your team, foster collaboration, and adapt as needed. Strategy is not a one-time event; it’s an ongoing commitment to excellence.

Crafting a three-year strategic plan is a journey of transformation and growth, aligning your organisation’s efforts towards a shared vision of success.

Have you started your planning for the new year? Share your experiences in the comments below.

———-

If you’d like learn more on this topic, the following articles and posts might be of interest.

More in this month’s focus on Strategy and Planning :

• The Role of OKRs and KPIs in Strategic Planning
• Boards Shape Strategy – The Critical Role of Governance in Business Success
• Developing a Strategic Roadmap 

Tracking and Updating Your Plan – Ensuring Your Business’s Agility in an Ever-Changing World

Related Posts

• The Power of a SWOT Analysis – “Know yourself and you will win all battles.” – Sun Tzu
• Performing a Competitor Analysis – “Study the past if you would define the future.”  – Confucius
• You’re Driving, But Does Everyone Know The Destination?
• “The best way to predict your future is to create it.” – Abraham Lincoln
• Is Your Strategy Fit for Purpose?
• 6 Secrets to Business Success This Year
• Leading Your Business Successfully in a VUCA World
• 4 Ways Your Strategy Plans Could Be Derailed Next Year
• CEOs – 6 Important Questions to Ask Yourself Before Next Year
• Pointers to a Successful Future for Your Business
• Is This the Most Important Leadership Skill for Success?
• “Lack of direction, not lack of time, is the problem. We all have twenty-four hour days.” – Zig Ziglar

Backgrounders:

From Forbes: Why A Successful Business Strategy Depends On Listening To Your Employees

Fortune: What Every CEO Should Admit When Planning For The Future

Harvard Business School: Why Is Strategic Planning Important?

Harvard Business Review (HBR): How to Do Strategic Planning Like a Futurist

Brian Tracy: Reach Your Goals With Strategic Planning

Working together to take your business to new heights!

With over 50 years of experience in the technology industry, spanning three continents, and three decades in CxO roles driving exceptional growth in revenue and profitability, I now work with and coach other business owners and CxOs to reach even greater heights.

Let’s talk about your business goals and challenges, strategy, culture, leadership, board dynamics, emerging trends, joining a peer advisory group and anything else that can accelerate your business growth. Book a complimentary 30-minute call with me today!

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From MIT-Sloan, something to think about when doing your strategic planning: How Ghost Scenarios Haunt Strategy Execution – https://sloanreview.mit.edu/article/how-ghost-scenarios-haunt-strategy-execution

Trackbacks/Pingbacks

• The Role Of OKRs And KPIs In Strategic Planning - "What Gets Measured Gets Managed" - Peter Drucker - Business Fitness - […] the previous article on Crafting a Three-Year Strategic Plan we looked at the importance of starting the planning process…
• Boards Shape Strategy - The Critical Role Of Governance In Business Success - Business Fitness - […] Crafting a Three-Year Strategic Plan: The Roadmap to Success […]
• Developing A Strategic Roadmap - Guiding Your Business Towards Success - Business Fitness - […] Crafting a Three-Year Strategic Plan: The Roadmap to Success […]
• Tracking And Updating Your Plan – Ensuring Your Business's Agility In An Ever-Changing World - Business Fitness - […] Crafting a Three-Year Strategic Plan: The Roadmap to Success […]

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A 3-year plan template is a strategic tool that outlines your company's vision, objectives, and strategies for the next three years. It includes key elements such as the year, quarter, objective, strategy, action items, responsible person or team, status, deadline, and comments. This template allows you to plan and track your business goals, strategies, and action items, ensuring that all team members are aligned and working towards the same objectives.

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- Efficiency: It saves time and effort by providing a structured format for planning and tracking your strategic initiatives.

- Collaboration: It facilitates collaboration by providing a shared view of the company's strategic plan, enabling all team members to work together effectively.

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Professional references, organize and manage your professional references with ease, create mla citations with ease.

Create engaging blog posts with ease

Recipe book, create your own recipe book with ease.

Binder Cover

Create personalized binder covers for your projects, letter of authorization, authorize parties and grant specific authorities with this letter of authorization template.

Acting Resume

Create a professional acting resume with ease, graph paper, create custom graphs and charts with ease, cease and desist letter, send professional cease and desist letters to protect your intellectual property rights, terms and conditions, create a comprehensive terms and conditions template for your website, free monthly budget, organize and track your board game collection, permission slip, create permission slips for student activities, attendance sheet, track employee attendance and manage work hours.

Business Contract

Create professional business contracts with ease, reading log, keep track of your reading progress and insights, create and manage scripts for your film or theater production.

Thesis Statement

Create effective thesis statements for various topics, create professional case study reports with ease.

Manage your bill of lading (BOL) with ease

Generate professional check stubs for your employees, employment letter, create personalized employment letters for your employees, debt verification letter, verify and dispute alleged debts with ease, shopping list, stay organized and never forget your shopping list again.

Door Hanger

Efficiently distribute messages and promotions with door hangers.

Baseball Lineup

Create and manage your baseball lineup with ease, plan and track your work projects with ease, demand letter, demand payment for outstanding invoices and unpaid fees, puzzle piece, organize and track your puzzle pieces with ease.

Notebook Paper

Organize your biology class with this notebook paper template.

Keep track of tree information and conservation status

Create a professional price list for your products or services.

Check Register

Track your financial transactions with ease.

Place Setting

Create personalized place settings for your event.

Gantt Chart Templ

Track project progress and manage tasks with this gantt chart template.

Needs Assessment

Assess your organization's needs and prioritize projects.

Mental Status Exam

Conduct comprehensive mental status exams with ease, checkbook register, keep track of your expenses and manage your finances with ease, customer journey map, visualize and understand your customer journey with ease, free org chart, visualize your organization's structure with ease.

Simple Monthly Budget

Letter of employment, generate professional letter of employment templates, problem statement, streamline problem identification and resolution.

Collect signatures for your petition with ease

Create personalized personas for your target audience.

Bill Of Sale

Create professional bill of sale documents with ease, research proposal, streamline your research proposal process with this template, create and analyze surveys with ease, buyer persona, create personalized buyer personas for your marketing strategy, certificate of appreciation, recognize and appreciate outstanding achievements with personalized certificates, social security card, create professional and secure social security card templates, one on one meeting, streamline your one-on-one meetings with this template, story board, visualize your story with a storyboard template.

Literature Review

Organize and analyze research literature for your literature review.

Bill Tracker

Track and manage your bills with ease, consulting contract, create a comprehensive consulting contract with ease, create your own screenplay with ease.

Exit Ticket

Gather feedback and assess student understanding with this exit ticket template, interview thank you email, express gratitude and follow up after an interview.

Bill Of Sale Word

Create a captivating story with our story map template.

Cleaning List

Keep your space clean and organized with this cleaning list template, police report, efficiently manage and track police reports with this template, succession planning, plan for the future of your organization with a comprehensive succession planning template, blank check, create professional and customizable blank checks.

Streamline user registration and account management

Reference List

Create a professional reference list for your research papers and publications, simple will, create a simple will to distribute your assets.

Grant Proposal

Streamline your grant proposal process and increase your chances of securing funding, essay format, format your essays with ease using this template.

Budget Tracker

Track your expenses and income with ease, letter of support, show your support with a letter of endorsement, college essay, streamline your college essay writing process with this comprehensive template, thank you letter, express gratitude and follow-up with personalized thank you letters, create your own game board with ease.

Collection Letter

Streamline your collection letter process with this customizable template, bullet journal, stay organized and productive with a bullet journal template, news article, create professional news articles with ease, birthday calendar, never miss a birthday with this customizable birthday calendar template.

Monthly Bills

Stay on top of your monthly bills with ease.

Visualize your data on a bubble map

Create an elegant gala event booklet

Stock Certificate

Create professional stock certificates for your shareholders.

Exit Interview

Streamline your exit interview process and gather valuable feedback from departing employees, financial plan, manage your personal finances with ease.

Value Proposition

Create compelling value propositions for your target customers, event proposal, create professional event proposals with ease, verification of employment letter, verify employment details with ease.

Doctor Excuse

Generate doctor excuse notes for patients, policies and procedures, manage and track your organization's policies and procedures, job posting, create professional job postings with ease, movie script, create a movie script with ease, food journal, track your daily meals and nutritional intake with ease.

Memo Format

Create professional and organized memos with ease, corrective action plan, track and manage corrective actions for identified issues, mission statement, craft a compelling mission statement for your organization.

To Whom It May Concern Letter

Create professional recommendation letters with ease.

Keep track of your calls and follow-ups with ease

Waiver of liability, create a waiver of liability for your activities, track your business financial performance and growth.

Monthly Work Schedule

Manage your team's work schedule with ease.

Block Schedule

Organize your school's block schedule with ease, birthday list, keep track of birthdays and gift ideas for your friends and family.

Journey Map

Visualize and analyze customer journey with ease, create a comprehensive site map for your website, notary acknowledgement, create professional notary acknowledgement templates with ease, job proposal, create professional job proposals with ease.

Rent Ledger

Track rent payments and balances with ease, cleaning checklist, efficiently manage cleaning tasks with this comprehensive checklist template.

Potluck Sign Up Sheet

Organize your potluck event with ease.

Birth Certificate

Create personalized birth certificates for newborns, questionnaire, create engaging and interactive quizzes with our questionnaire template, certificate of origin, create professional certificate of origin documents with ease, envelope address, create professional envelope addresses with ease, notarized letter, create professional notarized letters with ease.

Stakeholder Analysis

Analyze and manage project stakeholders effectively.

Instagram Carousel

Create engaging instagram carousels with ease.

Decision Matrix

Make informed decisions with the decision matrix template.

Create stunning mood boards with a variety of visual elements

List of references, create a comprehensive list of references for your research projects, bill of lading, create professional bill of lading documents with ease, monthly expenses, track and manage your monthly expenses with ease, reference sheet, organize and manage your references with ease, efficiently manage household chores with this chore list template, happy birthday, plan and organize birthday celebrations with ease.

Blank Bingo

Create your own customized bingo game, bank statement, track your financial transactions and balance with ease.

Create a personalized birth plan for a smooth delivery

Free itinerary, create a personalized travel itinerary with ease.

Custody Agreement

Create a comprehensive custody agreement for co-parenting, visualize your data with a colorful bar graph.

Policy And Procedure

Standardize your company policies and procedures with this template.

Track and manage handovers between team members

Create professional and customizable quotes for your clients

Contractor estimate, estimate the cost and materials needed for your construction project, itinerary temp, plan your travel itinerary with ease, create a personalized will with ease, free work schedule, efficiently manage employee schedules with this free work schedule template, manage your cloud resources with ease.

Rent To Own Contract

Create a rent-to-own contract for tenants and landlords, sales funnel, track your sales pipeline and manage deals effectively, budget proposal, create a budget proposal for your projects.

Create professional doctor's note templates for patients

Script Format

Create professional scripts with ease, gift letter, create personalized gift letters for donors and recipients.

Letterhead Word

Create professional letterheads with ease, missing person, track missing persons and their case details.

Contractor Agreement

Create a comprehensive contractor agreement with ease, recommendation letter, create personalized recommendation letters with ease, wanted poster, create a professional wanted poster for fugitives, monthly budget, track your monthly budget and manage your expenses with ease, letter of recommendation, create professional and compelling letters of recommendation, doctors note, keep track of patient visits and medical recommendations with this doctor's note template, create a professional newspaper with ease, vision board, visualize your goals and dreams with a vision board, create professional and personalized envelopes for your business, business plan, create a comprehensive business plan with ease, project plan, plan your projects with ease.

Create professional newsletters with ease

Account Based Marketing

Manage your account-based marketing strategies effectively.

Price Matrix

Track and compare product prices, bulk prices, and vendor details.

Content Calendar

Organize and plan your content strategy with ease.

Product Roadmap

Track and manage your product features with ease.

Gantt Chart

Track your project progress with a comprehensive gantt chart.

Availability

Manage your resources and schedule with ease, inventory sheet, manage your inventory with ease and precision, income statements, streamline your request for quotation process with this rfq template, manage your projects efficiently with a clear overview of all activities, project status report, track your project's progress, budget, and health with ease.

Requirements Gathering

Streamline your project requirements with a comprehensive overview.

Staff Availability

Manage your staff's availability with ease and efficiency.

Weekly Stand Up Meeting

Streamline your weekly stand-up meetings and keep track of team progress.

Release Management

Manage your software releases efficiently and effectively, networking spreadsheet, manage your professional contacts and networking activities effectively, process documentation, streamline your business processes with a comprehensive documentation, account planning, streamline your account management and planning process.

Action Item

Track and manage your team's tasks efficiently.

Business Requirements Document

Streamline your project requirements with a comprehensive and organized approach, communications plan, streamline your communication strategy with a comprehensive plan.

Post Mortem

Analyze your projects, identify successes and failures, and improve future endeavors.

Party Planning

Organize your party planning with ease and efficiency.

Vacation Itinerary

Plan your dream vacation with ease, business model canvas, visualize, design, and reshape your business model with ease, track your company's financial health with a comprehensive p&l statement, manage your marketing campaigns effectively and efficiently.

Production Schedule

Streamline your production process with a comprehensive schedule, sprint planning, streamline your sprint planning with a comprehensive overview of tasks, assignments, and deadlines, construction daily report, track your construction project progress daily.

Product Backlog

Manage your product backlog with ease and efficiency, release plan.

10 Year Plan

Plan your personal and professional life for the next 10 years.

Event Run Of Show

Efficiently plan and manage your event schedule, order tracker, track your orders and deliveries in real-time, grant management, manage your grants effectively and efficiently, trade show planning, streamline your trade show planning process.

Manage your customer relationships with ease

Training plan, streamline your training sessions with a comprehensive plan.

Project Outline

Streamline your project management with a comprehensive outline, organize your meetings effectively with a comprehensive overview, interview guide, streamline your interview process with a comprehensive guide, manage and organize your team's profiles in one place, vendor management, manage your vendors, contracts, and services in one place, real estate schedule, manage your real estate showings, agent details, and property status in one place.

Jira Checklist

Streamline your project management with a comprehensive checklist, class schedule, organize your class schedule with ease, marketing campaign, plan, track, and analyze your marketing campaigns in one place, design brief, streamline your design projects with a comprehensive brief, manage and analyze your product reviews in one place.

Compare and contrast different products with ease

Project milestone, track your project milestones with ease and precision, track your events, responsibilities, and status with ease, manage your projects efficiently with a clear overview of tasks, deadlines, and priorities.

Holiday Schedule

Manage your team's holiday schedule with ease.

Interior Design Schedule

Manage your interior design project with ease, legal case management, manage your legal cases efficiently and effectively, grant calendar, track and manage your grant applications with ease, sales training plan, streamline your sales training with a comprehensive plan.

Key Policy For Employees

Manage and track your employees' key issuance and return with ease, track your project milestones, dependencies, and status with ease, book of business, manage your client's financial portfolio with ease, long term planning, strategize your long-term goals and track progress with ease, action plan for students, track your goals, actions, and progress with ease.

Story Mapping

Map your user stories and prioritize tasks with ease, social media content calendar, plan, schedule, and manage your social media posts effectively, hourly calendar, organize your day with precision using the hourly calendar template, marketing strategy, strategize your marketing efforts with clear objectives, target audience, key messages, and more, personal budget, performance evaluation, streamline your employee performance evaluations with ease, contact list, organize your contacts in one place, invoice tracker, track your invoices and payments with ease, schedule of real estate, manage your real estate activities with ease, media brief, organize your media briefs with ease and efficiency, manage your it assets efficiently and effectively, vacation coverage plan, ensure smooth operations during employee vacations with a comprehensive coverage plan.

Msp Client Onboarding Checklist

Streamline your client onboarding process with a comprehensive checklist.

Product Testing

Track and manage your product testing with ease, talent planning, track and plan your employees' career development, volunteer spreadsheet, manage your volunteers and their contributions effectively, intern onboarding, streamline your intern onboarding process with ease, product training, streamline your product training process with a comprehensive schedule, retrospective, track and improve your team's performance with a retrospective template.

Risk Matrix

Manage and mitigate risks effectively with our risk matrix template, project overview, manage your projects effectively with a comprehensive overview, google calendar, manage your events, meetings, and appointments with ease, organize your tasks, groceries, work, and home maintenance with ease.

Sprint Retrospective

Track and improve your team's sprint performance, event program, streamline your event planning with a comprehensive schedule, staff schedule, efficiently manage your staff's schedule and roles, track and improve your employees' performance with ease, product comparison.

Track your project tasks and employee hours with precision

Activity calendar, organize your team's activities with a comprehensive calendar.

Product Design

Streamline your product design process with a comprehensive overview, project portfolio management, manage your projects, track progress, and align with strategy.

Free Pay Stub

Manage your employee payroll with ease and accuracy, manage your project tasks, deadlines, and deliverables effectively, operations plan, streamline your operations with a comprehensive plan.

Goal Tracking

Track your personal and professional goals with ease, training schedule, organize and manage your training sessions effectively.

Lifecycle Powerpoint

Manage your project lifecycle with ease and precision.

Grant Tracking

Track your grants, deadlines, status, and more with ease.

Conference Itinerary

Organize your conference itinerary with ease.

Subscription

Manage your subscriptions with ease and never miss a renewal date, sprint demo, track and manage your sprint demos with ease.

Consultant Timesheet

Track your consultants' work hours and billable status with ease, project scope, define your project's boundaries with clarity and precision, track and achieve your personal and professional goals with ease, project management plan, manage your project tasks, resources, and timelines effectively, manage your project estimates with ease and precision, manage your sales and purchases with a comprehensive proforma invoice, hourly weekly schedule, organize your week with precision and ease.

Request For Quote

Streamline your procurement process with a comprehensive rfq template, strategic roadmap, strategically plan your company's future with a comprehensive roadmap.

5 Whys Root Cause Analysis

Identify, analyze, and solve problems effectively, manage your volunteers and their tasks efficiently, purchase order, streamline your purchase order process with ease.

Donation Tracker

Track your donations and donors with ease, requirements document, manage your project requirements with ease and efficiency, marketing brief, plan and execute your marketing strategies effectively, monthly goals, track and manage your monthly goals effectively, track, manage, and resolve issues efficiently, travel planner.

Board Meeting Agenda

Streamline your board meetings with a comprehensive agenda.

Fundraising

Track your donors, donations, and follow-ups with ease, project retrospective, analyze your project's success and areas for improvement, conference planning, effortlessly plan and manage your conferences.

Product Launch Plan

Efficiently plan and track your product launches, manage your project backlog with ease and efficiency, sprint planning meeting, streamline your sprint planning meetings and keep track of your team's progress.

Reporting Specifications

Streamline your reporting process with a comprehensive overview, 24 hour planner, plan your day hour by hour with this 24 hour planner template, workback plan, streamline your project management with a comprehensive workback plan, template management, manage your templates effectively and efficiently, event schedule, organize and manage your events with ease, resource planning, efficiently manage your resources and tasks with a comprehensive view, construction proposal, manage your construction proposals efficiently, project kickoff, kickstart your projects with a comprehensive plan.

Organize and analyze your data with ease

Best Practices Documentation

Document and implement best practices across various business functions.

Supply Request Form

Streamline your supply requests with a simple and efficient form, legal case management spreadsheet.

Legal Case Tracking

Track and manage your legal cases efficiently, track and manage your project tasks efficiently, account plan, manage your client relationships effectively with a comprehensive account plan, employee task list, manage your team's tasks efficiently and effectively, weekly goals, track and manage your team's weekly goals with ease, daily task employee task list, streamline your daily tasks and improve productivity, deliverables, track and manage your project deliverables with ease, project pipeline, manage your projects efficiently with a clear overview, streamline your order management process with ease, track and evaluate participant performance with ease, manage your request for information (rfi) process with ease, professional development plan, track your professional growth and plan for future skills with ease, competitive analysis, analyze your competition with a comprehensive overview, google sheets calendar temp, manage your personal and professional life with a comprehensive calendar.

24 Hourly Schedule

Organize your day with a 24-hour schedule, create a new database from the time card, track your employees' work hours and tasks efficiently, case management, manage your cases efficiently and effectively, risk benefit analysis, analyze the potential benefits and risks of your business decisions, business case, streamline your business case creation process, manage your projects efficiently with a comprehensive overview, gap analysis, identify and address gaps in your business operations, workforce planning, streamline your workforce planning with a comprehensive overview of your employees, streamline your project management with clear roles and responsibilities, streamline your testing process with a comprehensive test case template.

30 60 90 Day Plan

Streamline your first 90 days in a new role with a clear plan, performance review, streamline your performance review process with a comprehensive template, strategic planning, strategically plan and track your company's goals with ease.

Software Comparison

Compare and choose the best software for your needs, interview notes, streamline your interview process with a comprehensive overview of each candidate, success plan, track your goals and measure your success with ease, risk register, manage and mitigate potential risks with a comprehensive overview, creative brief, streamline your project management with a comprehensive creative brief.

Student Progress Tracker

Track and analyze student progress with ease, construction budget template goog, track your construction budget with ease and accuracy, employee availability, manage your team's availability and shift preferences with ease, sprint backlog, manage your project tasks efficiently with a sprint backlog.

Google Docs Timeline

Track your project's progress with a comprehensive timeline, elevator pitch, craft compelling elevator pitches with ease, strategize your business goals and objectives with ease, event budget, track and manage your event expenses effectively, team charter, streamline your team's mission, roles, and norms with a comprehensive team charter, social media calendar template goog, streamline your social media posts and track engagement metrics.

Travel Itinerary Template Go

Plan your travel itinerary with ease and precision, project deliverables, work breakdown structure, streamline your project management with a detailed work breakdown structure, implementation plan, streamline your project implementation with a clear and concise plan, organize your meetings effectively with a detailed agenda.

Manage your projects, tasks, and deadlines with ease

Expense Report

Track and manage your team's expenses with ease, weekly schedule, organize your week efficiently with a clear schedule, time blocking, organize your day efficiently with time blocking.

Standard Operating Procedure

Streamline your operations with our standard operating procedure template, google docs itinerary, plan your business trips with ease and precision, root cause analysis, analyze, track, and prevent incidents with a comprehensive root cause analysis, performance improvement plan, track and manage employee performance improvement plans, market analysis, analyze your market with precision and ease, 12 week year, plan and track your goals and actions for each week of the year.

Profit And Loss

Track your company's financial performance with ease, action plan, streamline your project management with a comprehensive action plan, cost benefit analysis, analyze the cost and benefits of your projects with ease, products list, manage your product inventory with ease, organize your events, meetings, and activities with ease, cost analysis, analyze and manage your company's expenses effectively, project charter, streamline your project management with a comprehensive project charter, income statement, travel itinerary.

Streamline your project management with a comprehensive workflow

Manage your project risks, assumptions, issues, and dependencies with ease, vendor list, manage your vendors efficiently and effectively, mutual action plan, streamline your business objectives and action plans with mutual action plan templates, daily schedule, organize your daily activities with a clear and concise schedule, track your expenses and savings with ease, go to market strategy, strategize your market entry with comprehensive planning, risk assessment, manage and mitigate risks effectively with a comprehensive overview, raci matrix, workback schedule, streamline your project management with a detailed workback schedule, action items, track and manage your team's action items effectively.

Business Plan Temp

Craft a comprehensive business plan with ease.

Proof Of Concept

Track and manage your innovative projects with ease, free business plan, streamline your business planning process with a comprehensive template, timeline template go, track your project's progress from start to finish, smart goals, track and achieve your goals with precision and clarity, process mapping, streamline your project process with a clear roadmap, gantt chart template goog, manage your project timelines and tasks efficiently, vacation planning, staff roster, manage your team's information and hours with ease.

Sales Tracker

Track your sales, analyze trends, and maximize profits.

Uat Sign Off

Track and manage your user acceptance testing (uat) with ease.

Technical Debt Register

Track, manage, and resolve technical debts efficiently, marketing calendar, plan and track your marketing campaigns with ease, sample rollout plan, streamline your product rollout with a comprehensive plan, photo directory, create a comprehensive photo directory for your organization, process flow chart, visualize and streamline your sales process, investment agreement, track and manage your investment agreements with ease.

College Schedule

Organize your college life with a comprehensive schedule, meeting tracker, track your meetings, attendees, and action items with ease, business travel itinerary, organize your business travel details in one place, plumbers invoice, manage your plumbing services invoices with ease.

Employee Daily Activity Report

Track and manage your team's daily activities efficiently, work breakdown, streamline your project management with a comprehensive work breakdown.

Html Report

Create comprehensive html reports with ease, plan and manage your events with ease, end of day report, track your team's daily progress with ease, cna report sheet, track and manage patient care with ease, rank tracker report, track your keywords and their performance across different search engines.

Classroom Seating Chart Whiteboard

Organize your classroom seating with ease and efficiency, delegation of authority matrix, streamline your task delegation and authority levels with ease, executive project status report, track your projects' progress, budget, risks, and more in one place, decision log, track and manage your team's decisions with ease, simple payment agreement, manage your payment agreements with ease and precision, medical chart, manage your patient's medical records efficiently, level 10 meeting, streamline your team meetings with the level 10 meeting template, capability matrix, track and manage your team's skills and certifications, benchmark analysis, analyze your competitors' strengths, weaknesses, and opportunities, content plan, streamline your content planning and execution with ease, seo competitor analysis, analyze your competitors' seo strategies and improve your own.

Campaign Brief

Streamline your marketing campaigns with a comprehensive brief.

Streamline your deal management process with a comprehensive overview

24 hours schedule, organize your day efficiently with a 24-hour schedule, weekly planner, organize your tasks and deadlines with a weekly planner, software change log, track and manage software changes efficiently, construction gantt chart, track your construction project progress with a gantt chart, termination of contract letter, manage your contract terminations effectively and efficiently, manage your projects, tasks, and deadlines efficiently, daily to do list, organize your day efficiently with a comprehensive to-do list, seo project management, manage your seo tasks efficiently and effectively, project management decision log, track and manage your project decisions with ease, content management, manage your content effectively across different platforms, organize your legal memos with ease.

Marriage Contract

Simplify your marriage contract creation process.

Approval Matrix Whiteboard

Streamline your approval process with the approval matrix whiteboard template, company contact list, organize and manage your company's contacts with ease, data analysis report, analyze and present your data effectively.

Shift Schedule

Manage your team's shifts efficiently and effectively, project roadmap, track your project's progress with a comprehensive roadmap, commission sheet, track and manage your sales team's performance with ease, report requirements, streamline your report creation process with this comprehensive template, weekly report, track your team's weekly progress with ease.

Camp Schedule

Organize your camp activities with ease and precision, policy memo, streamline your policy memo creation and management, leader standard work, streamline your leadership tasks and priorities, employee schedule, streamline your employee scheduling process, it incident report, track, manage, and resolve it incidents effectively.

User Acceptance Testing Checklist

Streamline your user acceptance testing (uat) process with this comprehensive checklist, 5050 partnership agreement, create fair and balanced partnership agreements, contractor invoice, manage your contractor invoices with ease and efficiency, plan of record, track your project tasks, deadlines, and progress with ease, governance plan, streamline your governance plan with a comprehensive overview of tasks, roles, and deadlines, meeting minutes, track your meetings, attendees, agendas, and action items with ease, urgent important matrix, prioritize your tasks effectively with the urgent important matrix template, customer success plan, track and manage your customer success journey, business development plan, strategize your business growth with a comprehensive plan, out of office coverage plan, manage your team's leaves and ensure smooth task delegation with our out of office coverage plan template, staffing matrix, manage your staffing needs efficiently and effectively, college pros and cons list, compare and contrast different colleges with ease.

75 Hard Wellness Challenge

Track your daily wellness activities and progress with ease, social media posting schedule, schedule and manage your social media posts effectively, test report, track and manage your software testing process, scheduling matrix, streamline your tasks and manage your team efficiently, user story mapping, map your user stories, track progress, and manage tasks with ease.

Monthly Planner

Organize your work and personal life with a monthly planner, investigation report, track and manage your investigations with ease, budget report, track your budget, income, expenses, and net profit/loss with ease, change of shift report, streamline your shift changes with a comprehensive report, request form, streamline your request management process with a comprehensive request form, workshop agenda, streamline your workshop planning with a comprehensive agenda.

For Dummies Book

Streamline your book writing process with a structured approach, organizational chart, visualize your company's hierarchy with our organizational chart template, llc annual meeting minutes, streamline your annual meetings with our llc annual meeting minutes template, pto calendar, manage your team's time off with a comprehensive pto calendar, addendum to a contract, track and manage your contract amendments with ease, minutes of meeting mom, streamline your meetings and keep track of decisions with the minutes of meeting (mom) template.

Identify the root cause of problems and devise effective solutions

Profit and loss statement, streamline your standard operating procedures with this comprehensive sop template, website migration project plan, streamline your website migration process with a comprehensive project plan, inventory report, action register, trip report, track your business trips, objectives, expenses, and insights, event brief, kinship diagram whiteboard, visualize and understand your family tree with ease, alignment chart, align your team's goals and strategies with clear execution steps, end of day cash register report, track your daily sales and cash register status with ease.

Communication Matrix Report

Streamline your project communication with a comprehensive matrix, streamline your standard operating procedures with this sop template, meeting agenda, streamline your meetings with a comprehensive agenda.

Organize your tasks efficiently with a clear view of priorities and deadlines

Project timeline, manage your project timeline efficiently and effectively.

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3 Year Business Plan

How long does it usually take for a person to start out a successful business? Many of you may have been asked this kind of question, or you yourself have been asking this question to successful business owners. Many of them may answer in a span of a year or two or even annually . Which will also depend on the type of business you are planning on opening or planning on making. If you opt for a kind of business that can give you the best results in a span of 3 years, you will have to do your research on what business that may be. Some will opt to open a school or a university, while others a company. Regardless of what you may choose, you must also learn to stick to the business plan you made for that three year mark. For more ideas, let’s check out the examples of a 3 year business plan.

10+ 3 Year Business Plan Examples

1. free simple 3 year business plan template.

• Google Docs

2. 3 Year Business Plan Template

3. 3 Year Charity Business Plan

Size: 586 KB

4. 3 Year Business Plan in PDF

5. Standard 3 Year Business Plan

6. 3 Year Business Plan Form

Size: 95 KB

7. Formal 3 Year Business Plan

Size: 447 KB

8. 3 Year Partnership Business Plan

Size: 224 KB

9. 3 Year Business Development Plan

Size: 578 KB

10. Draft 3 Year Business Plan

Size: 192 KB

11. General 3 Year Business Plan

What Is a 3 Year Business Plan?

A 3 year business plan is a type of business strategic plan that you write with the steps and strategies with a timeline of three years. This kind of plan helps the business owner focus on what should be done, what can be done and how you can avoid roadblocks and risks that go with the kind of business you plan to do, basically outlining the entire business plan. In addition to that, a 3 year business plan focuses on how you can grow your business and consider the necessary things to do in order to set up the goal of your business. Lastly, the number of years that may take in order for you to achieve in a possible way of the business.

How to Make a 3 Year Business Plan

Making a 3 year business plan takes patience , effort, time and understanding. It is not something that can be done simply by writing something down. With a 3 year business plan ahead, your thoughts on the business should also be about how you are going to outline your plan and what you can do about it. With that being said, the following steps will provide you a way to write your 3 year business plan.

1. Write an Overview for Your Business Plan

Make the overview of your business plan. The overview of your business plan will have the vision, mission, general information and of course the name of your business. The overview’s purpose is to introduce what your business plan is about, what you can perceive it to be and lastly, how you will want your business to be in the timeline of three years.

2. Define Your Goals and Objectives

Redefining your goals and objectives also helps out with your business plan. Your main goal will be about setting up your upcoming business. The objectives should also be made in a specific time frame, as well as the goal in question. In addition to that, your goals and objectives should be based on the 3 year business plan that you made.

3. Set an Estimation for Your Finance

Another thing to consider is to set an estimation for your finances. The estimation of your finances are also important to set up your business or your company. Without having any idea of the estimation of your finances, your business plan is incomplete. Everything has to be settled and everything has to be written. That includes the estimation of your finances. How much is necessary or needed in order to set up your business.

4. Update Your Business Plan Ever So Often

Lastly, update your business plan ever so often. Updating and giving some milestones are a part of your business plan composition. You can update it every quarter if possible. Making changes to see whether these strategies work or not is part of it.

What is a 3 year business plan?

A three year business plan is a type of strategic business plan that outlines a 3 year timeline.

What is expected of a 3 year business plan?

Just like writing any other kind of business plan, you can expect from it the time frame, the outline and the strategies that can help you out with starting up your business or your company.

What should not be in a 3 year business plan?

Avoid this when you are making a business plan: Avoid not adding an overview, an estimation and strategies. These are important factors that make up your business plan.

You may have heard of  30 60 90 day business plans . You may also have heard of 1 year business plans, or even 2 years business plans. It is the same with a 3 year business plan except the only difference is the number of years. When you make  a business plan , the most common thing that you will notice is the timeline. How long are you planning on getting your business to start up or to make it into a reality. Others may perceive it in a different manner, but the most important is how you perceive it and how you are going to make it happen. With that, from the example templates above and the steps to making your business plan, you are now ready to start out your 3 year business plan and make it successful.

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How to Start a Business From Scratch in 6 Easy Steps

10 min. read

Updated April 30, 2024

Did you know that most of the world’s new businesses are bootstrapped ? 

That’s right, most business owners do not launch with loans or outside investment but instead use their personal resources and savings to get up and running. They start from scratch and reinvest in the business as it gains traction.

And you can do the same. 

Key Takeaways:

• Start with an idea that uses your experience, knowledge, or passion.
• Determine if there’s a need for your product or service.
• Create a plan and financial forecasts.
• Treat it like a side hustle until you get traction.
• What does it mean to start from scratch?

“Starting a business from scratch” does not mean:

• Using no money to launch your business.
• Getting no outside assistance.
• Inventing a business idea no one has done before.

Starting from scratch is about building a business from the ground up, using personal resources and minimal external financial support. The goal is to establish a sustainable business you control that satisfies a need in the market. 

• Why start a business from scratch?

Here’s why starting from scratch might be the right approach for you:

• Risk reduction: Control your initial investment and expenses and scale gradually, allowing you to avoid overspending.
• Full control: With no outside investment or stakeholders to please, you can shape your business how you see fit.
• Proves your idea has real customers: Test your concept with customers early to help refine your offering and validate market demand.
• Fast decision-making: Quickly pivot to meet changing market demands without the red tape of larger organizations.
• Potentially makes future funding easier: You take the time to prove your business model and profitability before seeking funding. Your track record reduces investor and lender risk and can lead to better funding terms.

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• 6 steps to start a new business from scratch

For this article, we will focus on the steps that take you from a budding business idea to generating sales. 

For additional resources, check out our starting a business guide .

1. Start with an idea

Do some self-reflection and choose an idea you’re passionate about or one that uses your existing skills and experience. 

This will make it far easier to execute and often requires less research, training, and upfront investment to get up and running than an idea completely new to you.

For example, service-based businesses, like accounting or consulting, often need just your time and expertise. If any cash is needed, it should be a small enough amount to fund yourself, giving you full control over the speed at which you grow your business.

As you explore possible ideas, create a one-page business plan to document how it could work. 

It doesn’t have to be an official plan at this stage; just fill in what you can, mark any assumptions, and keep adding details throughout the rest of this process.

What businesses can you typically start from scratch?

While not an exhaustive list, here are a few potential ideas that can be started from scratch:

• Freelance Writing or Content Creation: Offer writing skills to businesses and online publications.
• Consulting Services: Share your professional management, marketing, or tech expertise.
• Handmade Crafts and Art: Sell your unique creations on platforms like Etsy or at local fairs.
• Tutoring: Offer either in-person or online.
• Web Design and Development: Build websites for small businesses or individuals.
• Virtual Assistant: Provide administrative support to businesses remotely.
• Landscaping and Gardening Services: Turn your love of plants into a business with basic gardening tools.

For more business options and a process to generate ideas, check out our guide on developing good business ideas .

2. Find product-market fit

Landing on an idea is not enough to create a viable business. You need to determine if you have initial product-market fit—that your business satisfies and is demanded by a large enough group of people. 

This involves identifying your potential customers, understanding their motivations and needs, and determining whether they are willing to pay for your product or service. Additionally, spend time researching the market and understand who your competitors are. 

At this stage, you don’t need a fully fleshed-out business. You just need enough of an idea to start speaking to potential customers.  

This is where your one-page plan can be incredibly useful, as it helps you formalize enough information to have the working framework of a business. You can even add notes from your customer interviews to help adapt your plan.

Your goal, in this instance, is to:

• Hone in on pain points your potential customers have
• Verify that you can solve them
• Identify any gaps or issues with your idea
• (Bonus) Make initial sales 

Keep in mind that you may find none of that. Your solution may not be needed or is missing key components. You may even be targeting the wrong audience and need to change course.

That’s completely okay! Most businesses don’t get things right the first time. Be willing to refine and iterate on your initial idea. Verify what works and what doesn’t, and make the right adjustments to create a sustainable business that customers really want.

3. Examine your resources

While I have this as the third step, you’ll likely be doing this throughout every stage of starting a business.

Start by evaluating your funding sources. Personal savings are ideal as they keep you in full control of your business. If needed, consider asking friends and family for small contributions, as they’ll likely be much more flexible about repayment than traditional lenders.

Next, consider if a partner could benefit your venture. Do they bring complementary skills, share the workload, or offer additional resources? 

The right partner can fill crucial roles – like marketing or operations – allowing you to focus on your core strengths. They may even fill a necessary gap to get customers in the door.

Finally, don’t underestimate the power of your network. Reach out to former colleagues, industry peers, and mentors for advice, services, or referrals.

Why you need to know your available resources

Taking stock of your resources is the first step in understanding what is feasible for your business. It helps you determine whether you have enough cash, expertise, and support to meet your customers’ expectations.

For example, let’s say you want to launch an eCommerce website and have enough cash on hand to fulfill orders but require customers to pay for shipping. If you’re competing with similar businesses that offer free shipping, your lack of it could turn customers away.

Similarly, you have a solid understanding of product development and have already gotten pre-orders. But you have no idea how to set up an eCommerce site , keep track of orders, and ensure they actually ship.

In both circumstances, your resources fall short of the needs of your customers. You may have to explore funding ( it doesn’t have to be a loan ) and find a partner with the right skill set to get your site up and running. 

4. Write a business plan and develop financial forecasts

At this point, you need to finalize your business plan and create initial forecasts . 

If you’ve been using the one-page plan throughout the last few steps, then this shouldn’t be a time-consuming process. Your goal at this point is to clearly define:

• Business Model: Value proposition, customer segments, distribution channels, and revenue streams.
• Milestones: Set realistic goals (landing your first customer, scaling, etc.) with specific timelines and action steps to track progress.

For your forecasts, start by estimating your:

• Startup costs and ongoing expenses
• Revenue in the first year of operation
• Cash flow — how much money will be moving in and out of your business each month as you collect revenue and pay expenses

These numbers do not have to be perfect. You’ll likely be making educated guesses or using industry estimates. The point is to have something that you believe represents your business. It will help you maintain a healthy cash flow and understand what it will take to be profitable.

Remember, you don’t need to create an overly lengthy plan or complex financial statements. They’re your tools, so focus on usability – they should be flexible and evolve with your business, helping you make informed decisions.

Dedicate time ( at least monthly or quarterly) to reviewing and updating your plan and forecasts as you gather data to ensure your strategy aligns with real-world performance.

5. Protect your business

As a business owner, you must make your business legal and guard against liabilities. To keep things simple, we’ll assume you’re starting as a sole proprietorship for this article.

Check out our full guide to learn more about the specifics of each legal structure .

Necessary legal components for a simple startup:

• Business Registration: As a sole proprietor, you may not need to register your business with the state government if you do business under your legal name. However, if you operate under a name that’s not yours, you must file for a “Doing Business As” (DBA) name. This is often required to set up a business bank account.
• Licenses & Permits: Research local requirements for your specific business type. You may need a general business license, professional licenses, or specific permits (e.g., health and safety). Contact your city or county business office for details.
• Tax Registration: Report business income on your personal tax return. If you plan to hire employees, you’ll need to apply for an Employer Identification Number (EIN) from the IRS. Even without employees, an EIN can protect your personal information and may streamline certain business transactions. Check if you need to register for state sales tax collections.
• Insurance : Consider general liability insurance for accidents and negligence claims. Get professional liability (errors and omissions) insurance if you offer professional services.
• Contracts: Use written agreements for business partners and supplier or contractor transactions. This clarifies expectations, prevents disputes, and protects both parties. Contact a lawyer to review or help you write this documentation if needed.

6. Promote and run your business

At this point, you just need to run your business. You don’t need to go all in, either. Launch it as a side hustle until you hit the point where it can become your full-time focus.

Don’t overcomplicate it: Set up a simple website, payment system, and essential operational tools. You want to serve customers immediately and learn from real-world experience.

But unless you locked in pre-orders earlier in this process, you’ll need to market your business to do it. 

Select marketing channels you believe will reach your target customers. Start small — you want to avoid overspending while you determine the right mix of marketing tactics. If you’re unsure where to start, paid social media ads (Facebook and Instagram), email campaigns, and local partnerships can be inexpensive options.

Stick to the budget you created, run small, easily measured marketing tests, and look for a positive return on investment (i.e., bringing in more revenue from sales than you spent on advertising). 

Only consider increasing spending after you start bringing in customers.

• Continue to review and revise

You are on your way to running a sustainable business and may even have your first customers already! 

Just don’t get too far ahead of yourself. You’re still proving that there is traction that can be repeated with multiple customers. 

As you operate, review your plan and forecasts. Pay close attention to your cash flow and be willing to pivot if things aren’t working. 

That’s the benefit of starting from scratch: You are in full control and can scale and spend at a pace that improves your chances of success.

If you haven’t yet, download a free one-page business plan template to document your idea. The earlier you begin developing the plan, the more useful it will be throughout the startup process.

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Kody Wirth is a content writer and SEO specialist for Palo Alto Software—the creator's of Bplans and LivePlan. He has 3+ years experience covering small business topics and runs a part-time content writing service in his spare time.

Table of Contents

Related Articles

5 Min. Read

How to Start a Side Hustle

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8 Min. Read

How Much Does it Cost to Start a Business?

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7 Steps to Successfully Start a Business With No Money

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Money latest: Billie Eilish fans furious at 'outrageous' ticket prices

Billie Eilish fans are complaining about "outrageous" ticket prices for her Hit Me Hard and Soft tour. Read this and all the latest consumer and personal finance news below, plus leave a comment in the box.

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• OECD warns UK shouldn't cut interest rates yet
• UK ranks bottom in G7 economic growth forecast
• 'Outrageous': Billie Eilish fans complain about ticket prices
• Aldi's market share falls as people head back to traditional supermarkets (except one)
• New ISA rules were supposed to help savers - right now they've just made everything more complicated

Essential reads

• How to nab yourself a free upgrade on a flight
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• Money Problem : 'Builders won't repair dodgy work - what are my rights?'
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Ask a question or make a comment

If you earn significantly more or less than your partner, how do you split payments for things like housing, food, household essentials, entertainment and holidays? 

Do you both pay equally, do you split costs according to income, or do you have another method? 

Get in touch with an outline of your situation in the  box above or:

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• WhatsApp us  here .

Pint-sized bottles of wine will be allowed on UK shelves from autumn under new post-Brexit trade rules - although doubts have been raised over their demand.

Seven changes to pre-packaged wine sizes are due to come into force on 19 September.

The move to introduce the 568ml size of wine, to sit alongside 200ml and 500ml measures already available, was announced in December and hailed by ministers as a Brexit "freedom".

Pint bottles of Champagne were sold in the UK before Britain joined the European Common Market and were on shelves until 1973.

Read more here ...

JD Sports has told head office staff they must return to the office at least four days a week .

The new amendment to the hybrid working policy will be effective from 1 July and will impact employees at the retail chain's head office in Bury, Retail Gazette reports.

However, the chain will still allow flexibly depending on individual roles.

Pubs could stay open late during the Euros this summer, according to The Sun .

Home Secretary James Cleverly hinted he was looking into extending pub opening hours for the tournament on The Sun show Never Mind The Ballots.

He said: "I will certainly look into it."

We've been bringing you news of plenty of bank switch deals offering free cash these past few months, but Virgin Money has a different kind of incentive for switchers - a 12% interest rate. 

People who switch to its M Account, M Plus Account or Club M Account will be able to get bonus interest rates of 10% gross/10.47% AER (fixed). 

This is on top of the 2% gross/2.02% AER (variable) interest rate already offered on current account balances up to £1,000 - meaning customers can get an interest rate of 12%. 

No other savings accounts offer interest rates this high, and the bonus applies for a year.

TikTok will restore millions of songs to its app after settling a royalty dispute with Universal Music Group. 

Users had been unable to make videos featuring songs from the likes of Billie Eilish and Ariana Grande due to a row over how much TikTok was paying. 

The fight had led to Universal withdrawing music from some of the world's most famous singers. 

The dispute appears to have been settled as the companies announced "improved remuneration" for artists.

More than 10,500 black cab drivers in London have launched a £250m legal case against Uber. 

They accuse the app of breaking the capital's taxi booking rules and deliberately misleading authorities to secure a licence. 

Transport for London (TfL) rules state drivers cannot take bookings directly from customers and must instead use a centralised system. 

The drivers, who are being advised by law firm Mishcon de Reya, argue they have faced unfair competition from Uber and that it knowingly broke these rules. 

Uber has denied these allegations and said the claims are unfounded.

The company has faced numerous challenges in London, including refusals from TfL to renew its licence which were later successfully appealed. 

Billie Eilish fans are complaining about "outrageous" ticket prices for her Hit Me Hard and Soft tour.

The 22-year-old singer unveiled an 81-date tour programme this week, sending fans rushing to secure tickets.

But some expressed disbelief on social media at the prices.

"I know I moan about this all the time, but look at the price of Billie Eilish tickets," one fan called Marianne wrote on X, sharing a screenshot of seated tickets priced at £398.50. 

"Something seriously needs to be done about ticket prices, it's f*****g outrageous!" 

Another complained they had paid less for Taylor Swift's Eras Tour, which was also criticised for high ticket prices.

A fan called Liv tagged Eilish, Live Nation and Ticketmaster, writing: "Are you ok? £145 for standing tickets is atrocious."

Thousands of people who receive government benefits, including Universal Credit, will be paid as early as tomorrow.

This is because there's a bank holiday coming up on 6 May which will affect benefits paid by both the Department for Work and Pensions (DWP) and HMRC (they don't pay benefits on bank holidays).

A statement on the government website reads: "If your payment date is on a weekend or a bank holiday you'll usually be paid on the working day before. This may be different for tax credits and child benefit."

Here are the 11 different government benefits that are expected to be paid early:

• Universal credit;
• State Pension;
• Pension Credit;
• Disability Living Allowance;
• Attendance Allowance;
• Carer's Allowance;
• Child Benefit;
• Income Support;
• Jobseekers Allowance;
• Personal Independence Payment;
• Tax credits (such as Working Tax Credit)

Will your benefit payment change?

No, you'll be paid the same amount you usually receive.

Benefits are usually paid straight into your bank, building society or credit account.

Goldman Sachs is removing a cap on bonuses for London-based staff, paving the way for it to resume making multimillion pound payouts to its best-performing traders and dealmakers.

Sky News can exclusively reveal the Wall Street banking giant notified its UK employees today that it had decided to abolish the existing pay ratio imposed under European Union rules and which the government recently decided to scrap.

In a video message to staff, Richard Gnodde, chief executive of Goldman Sachs International, which comprises its operations outside the US, said it had decided to bring its remuneration policy in Britain in line with its operations elsewhere in the world.

"We are a global firm and to the extent possible we adopt a consistent global approach across everything we do," Mr Gnodde said in the message, which has been relayed to Sky News.

"The bonus cap rules were an important factor preventing us from being consistent in the area of compensation."

Aldi's market share has fallen - as people seemingly head back to traditional supermarkets for their shopping.

Aldi's share of the grocery market slipped from 10.8% to 10.4% in the 12 weeks to 20 April.

NIQ data shows sales rose just 1.3% in the period - for Morrisons it was 4.4%, Tesco 5.8% and Sainsbury's 6.6%.

Asda was the laggard with sales falling 0.9%.

Ocado is the fastest growing retailer with sales up 12%.

Aldi's rival discounter, Lidl, saw sales surge 9.5%, bumping its market share up to 8.2%. Media campaigns highlighting new ranges helped, NIQ said.

A Santander online outage is affecting thousands of UK customers.

Over 2,000 reports have been made on Downdetector - indicting the issue is widespread.

Customers have been met with messages like this...

Santander wrote on X: "We are aware some customers are experiencing issues accessing online services, we apologise for any inconvenience this has caused.

"We're working hard to resolve this as soon as possible."

Following on from our previous post, and the OECD also says the UK will grow more slowly next year than any other major advanced economy.

It puts this down to stealth taxes and high interest rates squeezing the economy.

The organisation, which is based in Paris, downgraded its forecasts for GDP to 0.4% this year and 1% in 2025.

In February, the UK had been in the middle of the rankings with forecast growth of 0.7% this year and 1.2% next.

The OECD pointed to the fact "tax receipts keep rising towards historic highs" - with National Insurance cuts not offsetting the additional burden Britons are feeling due to tax thresholds not rising along with inflation due to a government freeze.

Some good news is expected for UK workers as the OECD said there will be "stronger" wage growth when inflation is factored in against pay.

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Majority of US couples do not have an estate plan, study finds

Ameriprise survey finds couples overwhelmingly tend to trust each other, but many have serious details to work out when it comes to retirement.

Diners weigh in on retirement as new study shows what it would take to retire comfortably

FOX Business' Ashley Webster talks to diners at The Villages in Florida about retirement after a Northwestern Mutual survey claims it will take $1.46M to retire comfortably.

American investors in committed relationships overwhelmingly say they trust their partners and share the same retirement goals , but most have not put an estate plan in place, new data suggests.

Ameriprise Financial's "Couples, Money & Retirement" report released Wednesday found 95% of couples agree they are honest and transparent with one another when it comes to their finances, and 91% said they share the same financial values. 

A new survey by Ameriprise found most American investors in committed relationships have some significant details to work out with their partners when it comes to retirement. (Annette Riedl/picture alliance via Getty Images / Getty Images)

But many have not reached a consensus on a number of emotionally-charged decisions about money .

The survey, which polled more than 1,500 American couples with $100,000 or more in investable assets, focused primarily on those between the ages of 45-70 who have retired within the last decade or plan to do so in the next 10 years.

TAX REFUNDS ARE NOT FREE MONEY: RACHEL CRUZE

While it found that 93% of couples share similar goals for retirement and agree on when to retire, 24% of respondents said they have not come to an agreement on how much money they will need to save or how much they should spend on children and grandchildren, both today and as part of their estates. 

Most couples do not have an estate plan in place, according to a new study by Ameriprise. (iStock / iStock)

In fact, more than half (52%) of couples surveyed said they have not yet set up an estate plan.

Marcy Keckler, senior vice president of financial advice strategy at Ameriprise Financial and a certified financial planner, offers the following advice for couples who still need to set up an estate plan:

1. Don't be intimidated by the concept of estate planning

"Estate planning is for everyone, no matter their wealth or complexity of their financial situation ," Keckler told FOX Business. "At some point, all of us will need an estate plan."

She explained that, at its core, estate planning is about making decisions about what you want to happen after you die or in the event you’re incapacitated and can’t make health-related or financial decisions on your own, even temporarily.

SHOULD YOU TELL YOUR KIDS ABOUT THEIR INHERITANCE?

2. Engage professionals

"A qualified financial adviser and estate planning attorney can help you initiate important, yet often emotional conversations and ensure you have decisions documented to cover a variety of potential scenarios that may arise,' Keckler said.

"Guidance from professionals can ensure your wishes for the legacy you want to leave your heirs and other loved ones are carried out."

Financial advisers can provide expert-led guidance for individuals or couples who have complex finances. (iStock / iStock)

Keckler recommends selecting professionals willing to collaborate, noting that one of the biggest mistakes couples can make is creating a will that specifies beneficiaries and then forgetting to update their accounts to actually identify the correct beneficiary. 

She added that financial advisers and attorneys can work together to help ensure you’ve taken all the steps necessary to have your plan executed according to your wishes.

3. Once you complete your estate plan, be proud of yourself

" Estate planning is an important part of protecting your family and financial legacy," Keckler said. "It’s a big accomplishment that should be celebrated once it’s completed."

She recommends ensuring you know where the original documents and any physical or digital copies are, so you can refer to them in the event they become needed. 

"If you have a doctor or hospital of choice, send them a copy, so they can keep it on file," Keckler suggested. "This can save valuable time and stress you or a loved one would otherwise spend trying to find them in an emergency."

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4. Revisit your estate plan at least every five years, and more frequently if a big life event happens

"Estate plans need to be updated as your life evolves to ensure they reflect your wishes," Keckler added. "Moments in life such as the birth of a child or grandchild, major shifts in income, a divorce, acquisition of new property and a child reaching the age of 18 are a few examples of when your estate plan may need to be revisited."

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I grew up in Athens. Here are 8 things I wish tourists would stop doing when they come here.

• I was born and raised in Athens , and I believe many mistakes tourists make here are avoidable.
• Travelers should embrace the city's quirks while respecting public spaces and unwritten laws.
• Ask the locals where to eat, but don't flush your toilet paper, and never fully rely on the buses.

I was born and raised in Athens, so I've seen a lot of tourists.

After all, Athens had a record-breaking year for tourism in 2023 — and it's one of the most-searched summer destinations this year , according to Delta.

But while visiting our famous archeological sites and enjoying the delicious Greek food , tourists often make mistakes that could easily be avoided.

Here are things I wish people would stop doing when they visit Athens.

Stop falsely assuming Athens has year-round hot weather

Tourists often arrive here in tank tops and shorts no matter what time of year it is. But you should really check the weather before packing your bathing suit.

Although the weather in Athens is mild, temperatures vary from 16 degrees Celsius, or 61 degrees Fahrenheit, to 28 in spring and summer, with only a few days in July and August reaching the dreaded 30 to 35 degrees.

You can also expect colder fall temperatures (14 to 18 degrees), and particularly chilly winters (-5 to 10 degrees). Athens has seen its fair share of snow over the years, too.

Don't ignore dress codes

Athens is a pretty casual city — you can pretty much wear whatever casual outfit you'd like on strolls or in most museums and restaurants.

But stop entering churches in crop tops and tiny skirts — it's often deemed disrespectful. Long pants or dresses are much more appropriate.

Moreover, you're not even allowed to wear high heels at ancient sites, which is a rule created in part to protect their marble. And I suggest bringing flat shoes or sneakers with a good grip when visiting the Acropolis to avoid brutal falls.

While making your plans, remember taking a bus is rarely the best option

Buses in Athens are notoriously late and unreliable . Most people drive cars or use the metro instead.

Even if you've got a new, super-cool app that shows when the next bus will arrive at your stop, rest assured that Athenian buses defy all laws of GPS-based technology, and you will be disappointed — and late for your dinner reservations.

If you insist on riding the bus, ask someone at the stop when your specific bus passed last. If it was less than 20 minutes ago, I wouldn't bother waiting for the next one.

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Take the metro or call a taxi (using the FreeNow app).

Don't just stick with gyros and Greek salad

The country's cuisine does not end with the classic Greek salad or with gyros. Definitely be open to trying more food and wandering off the beaten path.

When in Athens, swap crowded areas like Monastiraki for less touristy ones such as Exarcheia, Petralona, and Koukaki, where you'll find some of the best food in town.

I encourage you to try zucchini fritters, stuffed tomatoes, rooster with pasta in red sauce, pastitsio (Greek lasagna), moussaka (this casserole's famous for a reason), and plenty more flavorful nibbles and dishes.

When in doubt, ask a local for the best restaurants in Athens rather than blindly following travel guides.

You shouldn't flush toilet paper down the toilet

Clogged toilets are a nightmare, which is why you should avoid flushing toilet paper down them while in restaurants, hotels, museums — or just about anywhere in Athens.

The city's sewage system is quite old with narrow pipes, meaning they can't handle much. Use the bin to the side of the toilet to dispose of your used tissue instead.

There's no point in complaining about cicadas

Greek summers go hand in hand with two often-annoying insects: mosquitoes and cicadas.

You can use mosquito repellents to deal with the former, but not much can be done when cicadas are singing their lungs out at night.

Accept that their song will be the soundtrack to your Athens vacation and try to mentally block it out at night. Or, even better, let it lull you to sleep.

Never cross the street without looking

This may sound like a primary-school-level rule, but you'll need it if you want to make it back home in one piece: Never cross the street without checking for cars first.

Crosswalks are rarely seen by Greek drivers as a sign to stop, so crossing one whenever you want is unwise. Wait for the light for pedestrians to turn green and double-check for any drivers on the loose before crossing.

To be fair, cars in Greece are obligated to stop at a crosswalk, no matter the traffic light — but safety trumps proving your point.

Leaving your table without tipping is bad manners

When paying for a meal here, you may notice your bill does not include the mention of a tip.

Although tipping culture here is far from what it is in the US, where many feel tipping 20% is mandatory, it's considered especially rude not to tip servers if you're a tourist here.

In restaurants and cafés in Athens, it's good practice to leave at least a 10% tip.

Watch: Garbage and floodwater fill up streets in Italy, disrupting tourist season

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