HOW TO WRITE A BUSINESS PLAN STEP BY STEP + FILL IN THE BLANK BUSINESS PLAN TEMPLATE

new year new business plan no but seriously it's  been exactly 3 years since I walked y'all through   step by step of how to create a business plan  and if you haven't watched that video already   and you're struggling with your business plan go  back through my videos which is this one right   here and watch that video because all of that  information is still valid to this day but when   I rewatched that video and read the comments I  noticed that a lot of people after seeing that   video they still had questions regarding how to  structure their business plan so what I did for   this video is I created a business plan template  to where you can walk through the business plan   step by step and just fill in your business  information because a lot of the times we know   the information but we don't know the correct  way to structure it for our business plans so   with this business plan and you can grab it in  the description setting but with this business   plan you'll be able to go through step by step  line by line section by section and just put in   the information that you need to put in for your  business plan now to make it easier for you I'm   going to walk through the business plan template  step by step so you know exactly what information   you need to put in so let's head over here I  have the fill in the bank business plan all   pulled up now as you can see this document does  start off at 12 pages but once you add in all of   your information it might be 24 pages it might  be 30 pages or you might have yours to even be   15 pages so but the first thing the very first  thing once you download this template you have   to go to file select make a copy and then title  it whatever you want to title it we're just going   to do copy of the filo business plan template and  make a copy this is going to allow you to edit the   document so do not skip this step otherwise you  just going to have a template that you won't be   able to edit so let's go ahead and make our copy  so we can edit this document so with this template   as you can see on the main page it has where you  can insert your logo your business name the title   when you created it and let's go to the table  of content so it includes your executive summary   the business description the market analysis  your competitive analysis sales and marketing   plan ownership and management plan operating plan  financial plan the appendix and exhibit section so   you get everything with this fill in- the blank  business plan and I'm going to walk you through   some of the sections so you know exactly what  you're getting when you download this fillable   business plan template so with your executive  summary so I made it extremely easy for y'all   to just insert your business information so as you  can see it tells you to briefly explain what your   company is and what you plan to introduce to the  market and typically with this you're just doing   a brief summary because you're going to go into  the entire document after this now typically when   people write their business plans from scratch  I recommend you do the executive summary last   because you're going to put everything that you  just did in your complete business plan and then   you're going to summarize it in the executive  summary page so if you want to wait to complete   this page last you can or you can just filling the  sections that you can and continue through with   the filling the blank sections so with this one  I'm just going to go through it it says briefly   explain what your company is and what you plan to  introduce to the market you'll insert that there   then in the next section I put use this section  to write a paragraph describing what products and   or service your business plans to offer so just  tell us like if you're selling hair if you're   selling lashes is you're if you're going to be a  janitor just tell us what products and services   your business plans to offer and then once you  go to the next section you can see where it says   one of our key differentiators is and then you  insert it insert what advantages you have over the   competitors and why your customers will prefer  you over them so as you can see it's nice and   simple to where you're just plugging and playing  with your information and then I even have to   where we pride ourselves on providing exceptional  customer service with a t of experience employees   available to assist customers with any questions  or concerns our goal is to then you insert your   main goal of your business business there's  absolutely no way you can go wrong with this   filling a blank business plan now one of the  things I noticed that people trip over is the   finances so I even included a paragraph that says  we have already invested a significant amount of   our own resources into developing our product and  brand however we are seeking additional funding to   help us expand our product line improve our insert  what you want to improve on or inserch what you   want to request funding for and then you can put  our funding request is for blank amount to cover   these expenses and to help us take our business to  the next level so these are for those people who   are maybe filling out grants or you're entering  different competitions and they're requiring you   to have a business plan set out to where it's  going to include what you need the funding for   so you need to be able to clearly explain why do  you need that funding what it can do to help your   business grow now as we further go through the  fill-in the blank template as you can see we get   we get to the meat imp poates of your business we  got the business description insert your business   name your legal structure so if you have a LLC  if you're a soulle proprietor if you're a escort   insert that there and then put your city and  state now with your missioning statement you   say at whatever your business name we believe that  insert your main belief our mission is to provide   insert what you plan to provide our goal is to  be insert what your goal is for your business   and then in the product and services section of  this section of the business plan this is where   you're going to put the meat and potatoes of  your business you're going to write all of the   different products that you have and all of the  services that you have that you plan to offer to   your customers now once we go down to the market  analysis we're going to talk about your industry   put the blank insert your industry so if you're in  the beauty industry you'll put the beauty industry   is a growing Market that is estimated to reach  and these are numbers that you can grab from   Google which you should know this about your  business choose like once you're searching on   Google or even if you're using chat GPT say how  much does this industry plan to grow within the   next 5 years and you'll put whatever amounts  so if it's billions you'll write billions by   year let's say if it's year 2030 then according  to a report by site your references this growth   is driven by increasing demand from consumers and  thoroughly explain why your industry continues to   grow grow in this potential this is going to  speak to if your business is able to grow in   the market potential that you actually have so  now we're going to go to our target market so   I have fully explained your target audience  and your customer and why they will benefit   from your product so you want to explain who  your target audience is their age gender race   location everything you can about your customer  and you want to explain in detail how will that   customer and that demographic benefit from your  product now you want to look at the market trends   for this business plan I put three market trends  but you you can add as many marketing Trends as   it relates to your industry so I have marketing  Trend one then you fully explain the trend and   how it benefits your industry so let's say you  were in the hair industry and you were talking   about clip in extensions so you will explain the  trend then explain how clip-in extensions can help   Ben benefit the industry and you'll do that for  Trend 1 2 3 4 five how many Trends you want to   add because I know this is going to be different  based on which Market you're in now I'm not going   to go over everything step by step but one of the  things that I do want to go over in this plan is   the financial plan and the break even analysis  and the funding request because these are some   of the things that get people stuck when it comes  to their business so I have it in here to where   you can just insert your sales forecast so you can  put insert your business name so the whatever your   business name is sales forecast for the next 3  years you do quarter 1 quarter 2 quarter three   quarter 4 now if you're stuck on this part and  knowing these numbers take a look at my chat   GPT business plan video and it's going to walk  you through what template you need to add to get   these correct numbers or if you want to say you  want to gain maybe 10 to to 20 to maybe 100,000   each quarter you can put those numbers in so that  way whoever you're presenting this business plan   to they can at least see the business growth over  the next couple years but for Best Practices you   at least want to know what percentage you plan to  see your business grow every year now you can see   where it says this sales forecast is based on  the assumption that the whatever your business   name is Will steadily grow its customer base and  increase it sales over time factors that could   impact sales include Market competition changes  in Comm consumer demand and changes in economic   environment the sales forecast will regularly be  reviewed and updated to ensure that it reflects   changes in the business environment and accurately  predicts the future so the reason I have this   clause in there is because as you know like with  2020 2021 2022 the pandemic happened and a lot of   people sales dropped during 2023 so we want to  make sure that we have that disclaimer in that   just in case the economic environment changes  that might change the our sales predictions but   you want to make sure you're always going in and  adjusting this readjusting your numbers to keep   it up to date and now we have our break even  analysis and with this one as well you can use   the templates from the chat GPT video that's going  to walk you through step by step of using the chat   GPT calculator to calculate out this information  so we have you we're having you include your   average selling price per unit your very variable  cost per unit your fixed cost per year and then   the break even calculation so once you plug in  these numbers if you can just do the basic math   based on the numbers that you put in you'll be  able to get the correct information and also with   the funding request now the funding request is  one of my favorite sections of this business plan   because if you're requesting funding this is going  to break it down to a t for you so it says we have   been in operation for 5 years or however long  you've been in business and have seen consistent   consistant growth and customer satisfaction  we are now seeking additional funds to expand   our business and take it to the next level we are  requesting let's say you're requesting $10,000 to   to and then you insert the three things you want  to do that's going to help your business grow so   I have insert request one so request one could  be a new website and it says we plan to invest   maybe 5,000 to purchase a new website and we  plan to use the funds for and then you write   how will purchasing a new website benefit your  business you can invest in photography you can   best invest in inventory which a lot of people  are ask for money for inventory because that's   one way that you can grow your business and then  the bottom section it says we believe that these   investments will allow us to continue to grow  our customer base and increase sales our current   revenue is X and we are projecting a growth  rate of whatever percentage that you have in   your financial statement over over the next year  we are confident that we have the team experience   and resources to successfully Implement these  initiatives and drive strong returns for our   investors and now you have a completed business  plan all you have to do is add the appendix and   the exhibits and you're all done simple enough  and now you have a complete business plan so   if you feel that your business will benefit from  this click the link in my description setting to   go ahead and download you a copy so you be all set  and when it comes time to request funding or just   have a business plan in general you'll already  have one done thank you so much for watching   this video and if you haven't already go ahead and  subscribe to my channel if you have any questions   comments concerns drop them in the comment  section below and stay tuned to my next video peace

Channel: Destiny Adams

Views: 31,906

Keywords: how to write a business plan, how to write a business plan step by step, business plan template, how to write a business plan with chatgpt, iamdestinyadams.com, destiny adams, destiny adams business plan, fill in the blank business plan, fillable business plan template, business planning, 1 page business plan, easy business plan, business plans for beginners, simple business plan, business plan sample, why you need a business plan, business 101, writing a business plan

Id: XK9XYa5-MCw

Length: 13min 9sec (789 seconds)

Published: Fri Jan 05 2024