Plan the Work, Work the Plan: Writing a Simple Business Plan for Entrepreneurs

You’ve probably heard people talk about the importance of having a business plan—but maybe it’s felt like something only big companies or startups chasing investors need. In reality, a business plan is simply a way to get clear on what you're building. Think of it as a roadmap that forces you to step back, define your goals, and detail how your business will actually function. Whether you're starting from scratch or already operating, a good plan will help you make better decisions, avoid costly mistakes, and stay focused when things get busy or uncertain.

1. Clarify Your Purpose (Executive Summary)

This section is a high-level overview of your business. It explains what you do, who you serve, and what makes your business worth paying attention to. If you’re writing this for yourself, keep it concise and to the point. If it’s for a bank or investor, you may need to go into more detail.
Tip: Write this last. It’s much easier to summarize once the rest of the plan is complete.

2. Describe Your Business

Outline the basics: your business structure (e.g. sole proprietorship, corporation), the industry you’re in, where you operate, and the specific niche or market you’re targeting. Be honest about where you’re starting from and what you’re trying to build.
Tip: Use plain language. This section should be easy to understand, even by someone outside your field.

3. Understand Your Market

Good business planning requires research. Who are your customers? What are their needs or frustrations? Who else is serving them, and how are you different? You don’t need to overdo this, but a basic understanding of your market helps avoid major missteps.
Tip: If you don’t have data, start with conversations. Talk to people you’d like to serve. You’ll learn more than any online report can tell you.

4. Outline What You’re Offering

Clearly describe your products or services. What are you selling, and how will people buy it? Include details about pricing, delivery (online, in-person, subscription), and anything unique about how you operate.
Tip: Focus on what’s ready now or in the near future. Avoid planning too far ahead—you’ll adjust as you learn more.

5. Do the Math (Financial Overview)

You don’t need to be an accountant, but you should have a handle on your numbers. Estimate your startup costs, monthly expenses, and how much you expect to earn. If you're already operating, include past financial performance.
Tip: Keep it simple. A basic spreadsheet is enough at the beginning. If you’re unsure, this is a good place to get advice from a bookkeeper or accountant.

6. Set Clear Priorities (Goals & Next Steps)

Define what success looks like in the short and medium term. Set 3-month, 6-month, and 12-month goals, and outline the steps you’ll take to reach them. This helps keep your efforts focused, especially when there are lots of moving parts.
Tip: Don’t try to do everything at once. Choose a few meaningful goals and give them your full attention.

Final Thoughts

A business plan is not about getting everything perfect on paper. Neither does it have to be long or complicated—it just needs to make sense to you. The clearer your direction, the easier it becomes to make big decisions, stay focused, and build something sustainable.

Now go work that plan!