Action Steps for Writing a Business Plan
If you are in the process of writing a business plan, the ASBTDC offers the following suggested Action Steps for Writing a Business Plan. These steps are intended to help guide you through the process and point you towards suggested information and tools.
Step 1: Review the Business Plan Outline and a Sample Business Plan
The business plan outline and sample plan can serve as a guide as you develop your business plan.
Step 2: Attend an ASBTDC Business Plan Seminar or Take the ASBTDC online Crafting a Business Plan Course
Participating in the business plan course will provide you with a good foundation as you begin to develop a plan for your small business. These courses are particularly helpful to those who have little or no experience in writing a business plan.
Step 3: Conduct Market Research
Conducting market and industry research is an important part of the business planning process. Market and industry research are essential to determining the feasibility of your small business.
Step 4: Develop a Draft Business Plan Including Financial Projections and Information
The business plan outline should be the basis for developing a draft of your plan. Sample plans can also be used as a guide. The market research you located in Step 3 should also be incorporated into the business plan.
Arkansas Residents who would like to a request a review of their business plan can contact their local ASBTDC office. The ASBTDC staff can review your business plan and provide suggestions and feedback.
Step 5: Update and Revise as Necessary
It is time to finalize your business plan. It is recommended that you have someone proofread the plan for grammar and spelling issues (the ASBTDC does not proofread business plans). If you are using your plan to obtain financing, it is important to present a polished and professional image.