A business plan explains what a business does, how it plans on making money, and why other people should care. Investors aren’t your only audience. Business plans can help you keep track of why you created your business in the first place. Having data, goals, and a clear vision all in one place can help you make important decisions later on.

You can’t provide services or products without the right resources. This is the place to list out what you have: locations, workers, physical supplies, and previous investments. Prove that you’ve thought through every step of the process and know how to get the job done.

What about the things you need? New locations? Hiring new employees? Provide as many details as possible. After listing the expected expenses, focus on the exciting stuff: profits. How much do you expect your business to earn by the end of the year? And how can your investors benefit from your success?

Every business plan needs to end with a clear statement about why your business is worth investing in. A big part of this is showing your expectations for the future. How will your business expand in five years, or ten? How big can it grow? Be realistic, but also hopeful. This is the place to lay out your vision and really emphasise why the chance to be part of your business is a can’t-miss opportunity.

Think about how you’ll present your plan and what works best for you. Sometimes business plans are sent through email, and other times they’re shared in a meeting. Either way, get familiar with every part of it. Be prepared to answer questions and share your passion. And in the future, come back to your business plan to make more decisions and remember where you started.

Learn how to showcase your business.

The first section of a business plan explains what exactly the business does. Opening a restaurant? Creating a travel agency? Be clear about what you do. Now explain why! Why are you passionate about this business? How did you get started? A few sentences about your story can go a long way in convincing someone to invest. Passion goes a long way. Be sure to share it.

Learn what a business plan is and why you need one.

Ready to achieve your business goals? A business plan is your secret weapon to get everyone excited about what’s next.

Now that you’ve got the world’s best business plan, learn how to share it in a meaningful way.