10 year business plan examples

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How to write a 10 year plan (with examples) and reach your goals

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What’s a 10 year plan?

Creating personal and professional goals, setting smart goals.

Example goals for a 10 year plan

How to create a 10 year plan

Set yourself up for success.

You’ve probably heard this question in a job interview : “Where do you see yourself in five years?” 

If you came prepared, you probably answered with a quick overview of your professional 5 year plan . But if an interviewer asks about a 10 year plan, you might feel put on the spot. Whether you’re just starting your career path or eager to plan for an extreme life change, 10 years seems like a long time — and it is.

But having goals for the next decade will help you create a 1 year, 3 year, or 5 year plan to build the future you want. Here’s how to start visualizing your long-term goals and turn that vision into an actionable 10 year plan, with examples to inspire you .

A 10 year plan is an outline of the tasks or milestones you need to accomplish to meet your goals for the next decade. It combines your short-term and long-term objectives to create an achievable but exciting life plan. 

If you dream of becoming a doctor, “become a doctor” would be your long-term goal. You need to get into med school first — a short-term goal. Actions like studying for the MCAT and applying to schools would be part of the 10 year plan that helps you achieve both your short- and long-term goals .

But your career isn’t the only thing that you can plan for. Say you want to buy a home within the next 10 years. Homeownership is a goal within your plan. Saving, investing, and building credit would be part of the plan that makes that goal a reality. 

A 10 year plan can be whatever you want it to be, whether it concerns your personal life (get married, write a memoir) or your professional goals (start a successful business, become a supervisor). The only rules are that it has to take place over 10 years and contain smaller steps to help you reach goals in the long term.

You’re more than your career. And you’re more than your relationships, your bank account, and the home you live in. But they work together to help you be the person you want to be, living the life you want to live — and you can represent them all in your 10 year plan.

To start creating a realistic plan, divide your 10 year goals into the categories they relate to. You can create as many as you want, but here are the most common categories and what they might include:

Personal and relationship goals

Even if you’re just daydreaming, you probably have some ideas about what your personal life might look like a decade from now. Maybe you want to start a family or volunteer in the community regularly. Start brainstorming a list that matches your vision of the future life you want.

Professional goals

Ask yourself what it would take for you to feel professionally fulfilled. Maybe it’s as straightforward as finding a job at a certain company, or as bold as joining the C-suite at your current job. A lot can happen in your career in 10 years, so this is your chance to dream big. You might even take the leap and start working for yourself as a freelancer or entrepreneur.

Financial goals

Financial wellness can play a huge role in your overall well-being. In 2022, 66% of Americans said money was a significant source of stress in their lives , and creating (and hitting) financial goals can help reduce this stress. If you won’t be satisfied until your credit score is in the 800s and your emergency fund can carry you for a year, add those to the list. 

Learning goals

Some skills take time to comprehend, like learning a new language or complicated software, which is why they should be part of your 10 year plan. No matter how many diplomas hang on your office wall, your life will be richer if you make learning something new a lifelong goal. Even if it’s just for fun, write it down. 

Fitness goals

Your long-term fitness goals can be as simple or lofty as you want them to be. Just make sure the goals you set are realistic . Give yourself something to work toward without setting yourself up for failure. Running a marathon in the next 10 years is achievable, but you need to find a place to start and create a realistic training routine.

Only 19% of people follow their New Year’s resolutions over two years . That’s because they often set goals that aren’t realistic in the long term. It takes willpower and dedication to follow a 10 year plan and meet the milestones you set, but it also takes a planning process that considers attainability.

You can use the SMART goal framework for any type of goal to create the most realistic pathway for you. Here’s what SMART stands for:

Specific: The goal is specific and leaves no room for confusion

Measurable: The goal is something you can make measurable progress toward

Attainable: The goal is something you can realistically achieve

Relevant: The goal is relevant to the values, dreams, and ambitions that matter to you

Time-bound: The goal isn’t open-ended, and you can put a target completion date on it

Some of the ideas you have for your 10 year plan might not be SMART right away. But with these broader goals in mind, you’ll be able to set short-term SMART goals that bring your 10 year vision into focus.

What makes a goal attainable?

Every letter in SMART plays its own role, but the “A” for “attainable” is especially important to note. It’s about setting goals you can actually achieve — but that doesn’t mean they need to be easy. They just need to be in your control.

Winning the lottery, for example, isn’t an attainable goal. Saying you want it and using up your budget won’t make it a reality. Winning the jackpot will always be outside of your control.

Becoming a doctor, on the other hand, might be attainable, even if it seems far away. How realistic this goal is depends on a variety of factors, like what you studied in college and how much time and money you have to go to grad school . But there are actionable steps you can take to make it happen. 

According to a study in the Journal of Sport and Exercise Psychology, specific and difficult goals lead to better performance . If every goal you set is easy to complete, you won’t perform to your highest potential. Personal development comes from pushing yourself and leaving your comfort zone . Be realistic, but give yourself a challenge, and don’t be afraid to take risks . 

Example goals for a 10 year plan 

A 10 year plan is personal. It’s about you, the people you’re close to, and your personal values , which makes it harder to ask for advice on what your goals should be. But here are some 10 year goal examples to inspire you and give you a sense of what a plan could include:

• Get promoted: Earning a promotion can happen in much less than 10 years, but if you set your sights on a high-level position, the process can take a long time. You need to start from the bottom, prove your worth, and slowly move up the ladder.

Build a tiny home: You’ll first need to decide where and what you want to build. Materials cost money, so start creating a budget and saving up. If you choose to build on your own, you’ll also need to learn construction skills, so make a plan for adding that knowledge to your tool belt.

Move to Europe: Moving abroad doesn’t just require strong finances. You’ll need to decide where you want to go and why. And you’ll likely need a visa, whether it’s for work, study, or residency. Your 10 year plan should include saving up, finding jobs, and starting to create a network abroad.

Join a rowing team: If you’re looking to join a high-level team, you may need to spend some time working on strength and conditioning. If you’re not a strong swimmer, taking lessons and joining a gym with a pool will help get you closer to your goal over a few years.

Reduce blood sugar: To accomplish this goal, you may need to make some big shifts to your diet. And if exercise isn’t already part of your day-to-day, you’ll want to work on making it a habit. A decade is more than enough time to find consistent routines that work for you.

Pay off student loans: You can keep paying the minimum amount on your student loans forever, but if you want them gone within 10 years, you’ll need a plan. Maybe you need to refinance your loan or adjust your payment plan . Do your research and create a realistic budget.

Learn a new language: If you want to become fluent in another language, you might want to consider spending six months or a year in another country. That’s a plan for the future, but for now, you can look into enrolling in language classes.

Once you decide what your goal is, start mapping out a clear year-by-year plan. Remember that it’ll probably change if you go along. If you find something unachievable, find ways around it, and be kind to yourself. 

Here’s what a 10-year plan might look like for someone who’s trying to get a job as a senior project manager:

Year 1: Start applying for master’s degrees and scholarships

Year 2: Get into a program and start studying in September

Year 3: Graduate and network with peers

Year 4: Find an internship working under a project manager

Year 5: Land an entry-level role

Year 6: Thrive on the job and take extra courses to close skill gaps

Year 7: Get promoted to a project management position

Year 8: Attend networking events and go the extra mile at work

Year 9: Continue working hard, letting senior team members know you’re interested in a larger role

Year 10: Land a senior project manager position

You don’t have to create goals for every aspect of your life all at once. Goal-setting can take place over the course of a week, a month, or even several months. And it’s important to remember that goals can (and will) change, especially when they cover a period as long as 10 years.

Your big-picture goals — the things you want to achieve over the next decade — are likely vague. Things like “learn a foreign language” and “have a happy family life” are just a starting point. You’ll work backward from there to create a plan you can act on. Here’s how to break it down:

1. Define your long-term goals

If professional development is your current top priority, start with your long-term career goals. If you have an entrepreneurial spirit , maybe being your own boss is part of your vision. At this stage, your long-term objectives can be as grand as you want, as long as you can break them down into steps.

2. Start researching

Start with research, both internal and external. If owning a business is your main goal but you’re not sure what exactly you want to do, think about your skills and what kind of small business those skills would be suited for. Find people whose career paths you want to emulate and start learning from them.

3. Start planning

Keep working your way backward from your long-term goal until you find your first steps. If getting a business degree will help you find a better job now while preparing you to start your own company, figure out a realistic timeline. How long would a degree take you to complete? When would you like to start?

In this example, your 10 year goal is to own a business. But you need yearly goals to get you there. Your 1 year plan might include enrolling in a GMAT prep class and taking the test. Your 2 year plan might include applying to schools. Your 5 year plan might include completing your MBA, and so on.

4. Get support from your community

There’s one incredibly valuable resource to keep in mind: other people. As you work to create a life plan for the future you, turn to the friends, family, and mentors you trust for support. Connect with wellness experts to achieve your fitness goals. Make professional moves with a career coach by your side. 

The most important thing to remember is that you’re never alone in achieving your goals. No matter where you are in life, you’ll have people cheering you on. And in 10 years, you can pay it forward, share your wisdom, and inspire others .

These 10 year plan examples are just that — examples. The vision you create for your future will look different than anyone else’s. But with research, hard work, and support from your community, you’ll learn and grow. And whether you achieve all your goals or not, working for them will give you a sense of accomplishment.

Invest in your career

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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.

22 workplace goals examples to strive for

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550+ Business Plan Samples To Inspire Your Plan

Inspire your own plan with 550+ business plan samples

Use real business plan examples to jump-start your own plan!

Don’t start from scratch — get a headstart with 550 real business plan examples

How do you know what elements to include in your business plan, if you’ve never written one before? Looking at real business plan samples can help you visualize what a successful plan looks like, so you know what you’re aiming for before you get started. With LivePlan you’ll have access to over 550 free example business plans to use as a starting point.

Access our full library and browse real sample content for a broad range of businesses. You’ll see how others have written effective executive summaries, planned marketing activities, created financial forecasts , and more. Plus we’ll be right there to walk you through it .

Whether you run a dentist office or dog walking service, you’ll find examples of a business plan for every type of business.

Whether you’re a small- or mid-sized business, freelancer, nonprofit, or still figuring that out, we’ve got you covered.

LivePlan’s library of business plan samples has real business plans from 150 industries and growing. You can see the complete list here .

It’s OK if you can’t find an exact match to your business. You don’t need an exact match for a sample plan to be helpful. Instead, look for a plan that’s closely related to the type of business you’re starting. For example, if you want to start a vegetarian restaurant, a plan for a steakhouse will still be a great match.

While the specifics of your actual business will differ, the elements you’ll want to include in your restaurant’s business plan are similar—and they’re all included in LivePlan .

Real business plan examples to save you time

Read through as many sample business plans as you like to see how it’s done and get inspired. And if you really want to, you can even copy and paste sections to use in your own plan.

We’ve collected sample plans over more than 20 years, most through generous donations from happy customers who used our software and wanted to share their successful business plan samples with others.

Get LivePlan in your classroom

Are you an educator looking for real–world business plan examples for your students? With LivePlan, you give your students access to industry–best business plan samples, and help them set goals and track metrics with spreadsheet–free financial forecasts. All of this within a single tool that includes additional instructional resources to work seamlessly alongside your current classroom setup.

With LivePlan, it’s not just a classroom project. It’s your students planning for their futures. Click here to learn more about business planning for students.

Built-in examples and step-by-step help so you won’t get stuck

In addition to complete sample plans, LivePlan includes specific examples for each part of your business plan. Browse through a few examples to get an idea of how other businesses have worded their executive summary, for instance, or other key sections of the business plan. Find an example that works for you and personalize it to fit your business.

You’ll be confident that your numbers are right

In addition to sample business plans, LivePlan includes current industry benchmarks so you can see what the numbers look like for businesses just like yours. Knowing your industry standards helps ensure that your plan is both competitive and realistic.

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Download a free business plan today. You can use it as a template for your own business plan and to see an example of what you’ll find in LivePlan. Download my free business plan .

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How to Create a Profitable Annual Business Plan [+Free Template]

Published: February 09, 2023

The beginning of a new quarter is the perfect time to start planning the next year for your business. Start the next year or quarter off on the right foot by creating an annual business plan for your company.

Q4 often brings a flurry of business-related activity. And while all this activity helps fill the pipeline, it can distract you from reflecting on past performance and preparing for the year or quarter ahead.

Fortunately, you can write an annual business plan at any time of the year. Start your plan now to set your team up for success.

What is an annual business plan?

An annual business plan is just that — a plan for you and your employees to help achieve the company’s goals for the year. Think of an annual business plan as the guide to complete all of your company’s overall goals outlined in your initial business plan.

The first business plan you wrote for your business is the blueprint and the annual business plan is the detailed instructions to keep your business running long-term.

Usually, an annual business plan contains a short description of your company, a marketing analysis, and a sales/marketing plan.

Because an annual business plan is for the year, you’ll want to review your business at the end of four consecutive quarters and revise your plan for the next four quarters.

Why is annual business planning important?

Even though the fourth quarter might be a busy time of year, don’t put off creating an annual business plan.

Not only will your annual business plan keep you on track, it will also help you map out a strategy to keep your employees accountable. You can then more easily achieve the overall goals of your business.

Here are some reasons why it’s well worth creating an annual business plan for your company.

You can measure your success.

An annual business plan is the best way to measure your success. And I’m referring to the collective “you” here because it takes the entire company or all of your employees to make new business efforts effective.

An annual plan not only sets expectations for you but also for others within your company who need to contribute to the business’s success.

You can reflect on the past and plan ahead.

Creating an annual business plan allows you to reflect on the past 12 months.

As you reflect on the previous year, you’ll be able to get a good idea of what your business is capable of doing and set accurate, attainable projections based on previous numbers.

You’ll define your business goals.

Your annual business plan will shed some light on what the heck you do at your company. For those who are not routinely involved in new business, it can seem like a black hole of mystery.

Sharing your plan — whether to an executive committee, department heads, or even the entire staff — adds clarity and gives everyone something to aim for.

You can impress your boss.

If you head a department that could benefit from an annual business plan, don’t wait to be asked before you start writing. Get on your CEO’s schedule to review your outline and discuss your intentions for putting this plan together.

Sometimes the hardest part is getting started. You can get the ball rolling with the basic template that follows.

Annual Business Plan Template

Each section of your annual business plan will help tell the story of your company and clearly define your company’s goals for the year.

Let’s take a look at each section of the annual business plan template .

Executive Summary

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15+ Business Plan Examples to Win Your Next Round of Funding

By Jennifer Gaskin , Jun 09, 2021

“If you fail to plan, you are planning to fail,” according to words of wisdom dubiously attributed to Benjamin Franklin. While there’s no solid evidence that Franklin actually coined this phrase, the sentiment rings true for any business.

Not having a solid plan makes it unlikely you’ll achieve the goals you seek, whether the goals are getting your to-do list done or launching a successful organization.

In the early stages of a company, that means developing things like pitch decks, business plans, one-sheeters and more. With Venngage’s Business Plan Builder , you can easily organize your business plan into a visually appealing format that can help you win over investors, lenders or partners.

Learn more about  how to create a business plan  so you can hit the ground running after reading through this list for inspirational examples of business plans.

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Click to jump ahead:

Simple business plan example, startup business plan example, small business plan example, nonprofit business plan example, strategic business plan example, market analysis business plan example, sales business plan example, organization and management business plan example, marketing and sales strategy business plan example, apple business plan example, airbnb business plan example, sequoia capital business plan example.

While your business plan should be supported by thorough and exhaustive research into your market and competitors, the resulting document does not have to be overwhelming for the reader. In fact, if you can boil your business plan down to a few key pages, all the better.

CREATE THIS PLAN TEMPLATE

The simple, bold visual aesthetic of this  business plan template  pairs well with the straightforward approach to the content and various elements of the business plan itself.

Use Venngage’s My Brand Kit  to automatically add your brand colors and fonts to your business plan with just a few clicks.

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An essential startup business plan should include a clear and compelling value proposition, market analysis, competitive analysis, target audience identification, financial projections, and a well-defined marketing and operational strategy.

For a typical startup, the need to appear disruptive in the industry is important. After all, if you’re not offering anything truly new, why would an investor turn their attention toward your organization. That means establishing a problem and the ways in which you solve it right away.

CREATE THIS PRESENTATION TEMPLATE

Whether it’s a full-scale business plan or, in this case, a pitch deck, the ideal way for a startup to make a splash with its plans is to be bold. This successful business plan example is memorable and aspirational.

In the Venngage editor, you can upload images of your business. Add these images to your plans and reports to make them uniquely your own.

All businesses start out small at first, but that doesn’t mean their communications have to be small. One of the best ways to get investors, lenders and talent on board is to show that you’ve done your due diligence.

In this small business plan example, the content is spread over many pages, which is useful in making lengthy, in-depth research feel less like a chore than packing everyone on as few pages as possible.

Organizations that set out to solve problems rather than earning profits also benefit from creating compelling business plans that stir an emotional response in potential donors, benefactors, potential staff members or even media.

CREATE THIS REPORT TEMPLATE

Simplicity is the goal for nonprofits when it comes to business plans, particularly in their early days. Explain the crisis at hand and exactly how your organization will make a difference, which will help donors visualize how their money will be used to help.

Business plans are also helpful for companies that have been around for a while. Whether they’re considering new products to launch or looking for new opportunities, companies can approach business plans from the strategy side of the equation as well.

Strategic business plans or strategy infographics should be highly focused on a single area or problem to be solved rather than taking a holistic approach to the entire business. Expanding scope too much can make a strategy seem too difficult to implement.

Easily share your business plan with Venngage’s multiple download options, including PNG, PNG HD, and as an interactive PDF.

One-page business plan example

For organizations with a simple business model, often a one-page business plan is all that’s needed. This is possible in any industry, but the most common are traditional ones like retail, where few complex concepts need to be explained.

This one-page strategic business plan example could be easily replicated for an organization that offers goods or services across multiple channels or one with three core business areas. It’s a good business plan example for companies whose plans can be easily boiled down to a few bullet points per area.

Especially when entering a saturated market, understanding the landscape and players is crucial to understanding how your organization can fit it—and stand out. That’s why centering your business plan around a market analysis is often a good idea.

In this example, the majority of the content and about half the pages are focused on the market analysis, including competitors, trends, pricing, demographics and more. This successful business plan example ensures the artwork and style used perfectly matches the company’s aesthetic, which further reinforces its position in the market.

You can find more memorable business plan templates to customize in the Venngage editor. Browse Venngage’s  business plan templates  to find plans that work for you and start editing.

Company description business plan example

Depending on the market, focusing on your company story and what makes you different can drive your narrative home with potential investors. By focusing your business plan on a company description, you center yourself and your organization in the minds of your audience.

This abbreviated plan is a good business plan example. It uses most of the content to tell the organization’s story. In addition to background about the company, potential investors or clients can see how this design firm’s process is different from their rivals.

With Venngage Business , you can collaborate with team members in real-time to create a business plan that will be effective when presenting to investors.

Five-year business plan example

For most startups or young companies, showing potential investors or partners exactly how and when the company will become profitable is a key aspect of presenting a business plan. Whether it’s woven into a larger presentation or stands alone, you should be sure to include your five-year business plan so investors know you’re looking far beyond the present.

CREATE THIS PROPOSAL TEMPLATE

With Venngage’s Business Plan Builder , you can customize a schedule like this to quickly illustrate for investors or partners what your revenue targets are for the first three to five years your company is in operation.

The lifeblood of any company is the sales team. These are the energetic folks who bring in new business, develop leads and turn prospects into customers. Focusing your energy on creating a sales business plan would prove to investors that you understand what will make your company money.

In this example sales business plan, several facets of ideal buyers are detailed. These include a perfect customer profile that helps to convey to your audience that customer relationships will be at the heart of your operation.

You can include business infographics in your plan to visualize your goals. And with Venngage’s gallery of images and icons, you can customize the template to better reflect your business ethos.

Company mergers and shakeups are also major reasons for organizations to require strong business planning. Creating new departments, deciding which staff to retain and charting a course forward can be even more complex than starting a business from scratch.

This organization and management business plan focuses on how the company can optimize operations through a few key organizational projects.

Executive summary for business plan example

Executive summaries give your business plan a strong human touch, and they set the tone for what’s to follow. That could mean having your executive leadership team write a personal note or singling out some huge achievements of which you’re particularly proud in a business plan infographic .

In this executive summary for a business plan, a brief note is accompanied by a few notable achievements that signal the organization and leadership team’s authority in the industry.

Marketing and sales are two sides of the same coin, and clever companies know how they play off each other. That’s why centering your business plan around your marketing and sales strategy can pay dividends when it comes time to find investors and potential partners.

This marketing and sales business plan example is the picture of a sleek, modern aesthetic, which is appropriate across many industries and will speak volumes to numbers-obsesses sales and marketing leaders.

Do business plans really help? Well, here’s some math for you; in 1981, Apple had just gone public and was in the midst of marketing an absolute flop , the Apple III computer.  The company’s market cap, or total estimated market value,  could hit $3 trillion this year.

Did this Apple business plan make the difference? No, it’s not possible to attribute the success of Apple entirely to this business plan from July 1981, but this ancient artifact goes to show that even the most groundbreaking companies need to take an honest stock of their situation.

Apple’s 1981 business plan example pdf covers everything from the market landscape for computing to the products that founder Steve Jobs expects to roll out over the next few years, and the advanced analysis contained in the document shows how strategic Jobs and other Apple executives were in those early days.

Inviting strangers to stay in your house for the weekend seemed like a crazy concept before Airbnb became one of the world’s biggest companies. Like all disruptive startups, Airbnb had to create a robust, active system from nothing.

As this Airbnb business plan pitch deck example shows, for companies that are introducing entirely new concepts, it’s helpful not to get too into the weeds. Explain the problem simply and boil down the essence of your solution into a few words; in this case, “A web platform where users can rent out their space” perfectly sums up this popular company.

Sequoia Capital is one of the most successful venture capital firms in the world, backing startups that now have a combined stock market value of more than $1 trillion, according to a Forbes analysis .

For young companies and startups that want to play in the big leagues, tailoring your pitch to something that would appeal to a company like Sequoia Capital is a good idea. That’s why the company has a standard business plan format it recommends .

Using Sequoia Capital’s business plan example means being simple and clear with your content, like the above deck. Note how no slide contains much copy, and even when all slides appear on the screen at once, the text is legible.

In summary: Use Venngage to design business plans that will impress investors

Not every business plan, pitch deck or one-sheeter will net you billions in investment dollars, but every entrepreneur should be adept at crafting impressive, authoritative and informative business plans.

Whether you use one of the inspirational templates shared here or you want to go old school and mimic Apple’s 1981 business plan, using Venngage’s Business Plan Builder helps you bring your company’s vision to life.

The 7 Best Business Plan Examples (2024)

As an aspiring entrepreneur gearing up to start your own business , you likely know the importance of drafting a business plan. However, you might not be entirely sure where to begin or what specific details to include. That’s where examining business plan examples can be beneficial. Sample business plans serve as real-world templates to help you craft your own plan with confidence. They also provide insight into the key sections that make up a business plan, as well as demonstrate how to structure and present your ideas effectively.

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Example business plan

To understand how to write a business plan, let’s study an example structured using a seven-part template. Here’s a quick overview of those parts:

• Executive summary: A quick overview of your business and the contents of your business plan.
• Company description: More info about your company, its goals and mission, and why you started it in the first place.
• Market analysis: Research about the market and industry your business will operate in, including a competitive analysis about the companies you’ll be up against.
• Products and services: A detailed description of what you’ll be selling to your customers.
• Marketing plan: A strategic outline of how you plan to market and promote your business before, during, and after your company launches into the market.
• Logistics and operations plan: An explanation of the systems, processes, and tools that are needed to run your business in the background.
• Financial plan: A map of your short-term (and even long-term) financial goals and the costs to run the business. If you’re looking for funding, this is the place to discuss your request and needs.

7 business plan examples (section by section)

In this section, you’ll find hypothetical and real-world examples of each aspect of a business plan to show you how the whole thing comes together. 

• Executive summary

Your executive summary offers a high-level overview of the rest of your business plan. You’ll want to include a brief description of your company, market research, competitor analysis, and financial information. 

In this free business plan template, the executive summary is three paragraphs and occupies nearly half the page:

• Company description

You might go more in-depth with your company description and include the following sections:

• Nature of the business. Mention the general category of business you fall under. Are you a manufacturer, wholesaler, or retailer of your products?
• Background information. Talk about your past experiences and skills, and how you’ve combined them to fill in the market. 
• Business structure. This section outlines how you registered your company —as a corporation, sole proprietorship, LLC, or other business type.
• Industry. Which business sector do you operate in? The answer might be technology, merchandising, or another industry.
• Team. Whether you’re the sole full-time employee of your business or you have contractors to support your daily workflow, this is your chance to put them under the spotlight.

You can also repurpose your company description elsewhere, like on your About page, Instagram page, or other properties that ask for a boilerplate description of your business. Hair extensions brand Luxy Hair has a blurb on it’s About page that could easily be repurposed as a company description for its business plan. 

• Market analysis

Market analysis comprises research on product supply and demand, your target market, the competitive landscape, and industry trends. You might do a SWOT analysis to learn where you stand and identify market gaps that you could exploit to establish your footing. Here’s an example of a SWOT analysis for a hypothetical ecommerce business: 

You’ll also want to run a competitive analysis as part of the market analysis component of your business plan. This will show you who you’re up against and give you ideas on how to gain an edge over the competition. 

• Products and services

This part of your business plan describes your product or service, how it will be priced, and the ways it will compete against similar offerings in the market. Don’t go into too much detail here—a few lines are enough to introduce your item to the reader.

• Marketing plan

Potential investors will want to know how you’ll get the word out about your business. So it’s essential to build a marketing plan that highlights the promotion and customer acquisition strategies you’re planning to adopt. 

Most marketing plans focus on the four Ps: product, price, place, and promotion. However, it’s easier when you break it down by the different marketing channels . Mention how you intend to promote your business using blogs, email, social media, and word-of-mouth marketing. 

Here’s an example of a hypothetical marketing plan for a real estate website:

Logistics and operations

This section of your business plan provides information about your production, facilities, equipment, shipping and fulfillment, and inventory.

Financial plan

The financial plan (a.k.a. financial statement) offers a breakdown of your sales, revenue, expenses, profit, and other financial metrics. You’ll want to include all the numbers and concrete data to project your current and projected financial state.

In this business plan example, the financial statement for ecommerce brand Nature’s Candy includes forecasted revenue, expenses, and net profit in graphs.

It then goes deeper into the financials, citing:

• Funding needs
• Project cash-flow statement
• Project profit-and-loss statement
• Projected balance sheet

You can use Shopify’s financial plan template to create your own income statement, cash-flow statement, and balance sheet. 

Types of business plans (and what to write for each)

A one-page business plan is a pared down version of a standard business plan that’s easy for potential investors and partners to understand. You’ll want to include all of these sections, but make sure they’re abbreviated and summarized:

• Logistics and operations plan
• Financials 

A startup business plan is meant to secure outside funding for a new business. Typically, there’s a big focus on the financials, as well as other sections that help determine the viability of your business idea—market analysis, for example. Shopify has a great business plan template for startups that include all the below points:

• Market research: in depth
• Financials: in depth

Internal 

Your internal business plan acts as the enforcer of your company’s vision. It reminds your team of the long-term objective and keeps them strategically aligned toward the same goal. Be sure to include:

• Market research

Feasibility 

A feasibility business plan is essentially a feasibility study that helps you evaluate whether your product or idea is worthy of a full business plan. Include the following sections:

A strategic (or growth) business plan lays out your long-term vision and goals. This means your predictions stretch further into the future, and you aim for greater growth and revenue. While crafting this document, you use all the parts of a usual business plan but add more to each one:

• Products and services: for launch and expansion
• Market analysis: detailed analysis
• Marketing plan: detailed strategy
• Logistics and operations plan: detailed plan
• Financials: detailed projections

Free business plan templates

Now that you’re familiar with what’s included and how to format a business plan, let’s go over a few templates you can fill out or draw inspiration from.

Bplans’ free business plan template

Bplans’ free business plan template focuses a lot on the financial side of running a business. It has many pages just for your financial plan and statements. Once you fill it out, you’ll see exactly where your business stands financially and what you need to do to keep it on track or make it better.

PandaDoc’s free business plan template

PandaDoc’s free business plan template is detailed and guides you through every section, so you don’t have to figure everything out on your own. Filling it out, you’ll grasp the ins and outs of your business and how each part fits together. It’s also handy because it connects to PandaDoc’s e-signature for easy signing, ideal for businesses with partners or a board.

Miro’s Business Model Canvas Template

Miro’s Business Model Canvas Template helps you map out the essentials of your business, like partnerships, core activities, and what makes you different. It’s a collaborative tool for you and your team to learn how everything in your business is linked.

Better business planning equals better business outcomes

Building a business plan is key to establishing a clear direction and strategy for your venture. With a solid plan in hand, you’ll know what steps to take for achieving each of your business goals. Kickstart your business planning and set yourself up for success with a defined roadmap—utilizing the sample business plans above to inform your approach.

Business plan FAQ

What are the 3 main points of a business plan.

• Concept. Explain what your business does and the main idea behind it. This is where you tell people what you plan to achieve with your business.
• Contents. Explain what you’re selling or offering. Point out who you’re selling to and who else is selling something similar. This part concerns your products or services, who will buy them, and who you’re up against.
• Cash flow. Explain how money will move in and out of your business. Discuss the money you need to start and keep the business going, the costs of running your business, and how much money you expect to make.

How do I write a simple business plan?

To create a simple business plan, start with an executive summary that details your business vision and objectives. Follow this with a concise description of your company’s structure, your market analysis, and information about your products or services. Conclude your plan with financial projections that outline your expected revenue, expenses, and profitability.

What is the best format to write a business plan?

The optimal format for a business plan arranges your plan in a clear and structured way, helping potential investors get a quick grasp of what your business is about and what you aim to achieve. Always start with a summary of your plan and finish with the financial details or any extra information at the end.

Want to learn more?

• Question: Are You a Business Owner or an Entrepreneur?
• Bootstrapping a Business: 10 Tips to Help You Succeed
• Entrepreneurial Mindset: 20 Ways to Think Like an Entrepreneur
• 101+ Best Small Business Software Programs 

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Small Business Trends

How to create a business plan: examples & free template.

This is the ultimate guide to creating a comprehensive and effective plan to start a business . In today’s dynamic business landscape, having a well-crafted business plan is an important first step to securing funding, attracting partners, and navigating the challenges of entrepreneurship.

This guide has been designed to help you create a winning plan that stands out in the ever-evolving marketplace. U sing real-world examples and a free downloadable template, it will walk you through each step of the process.

Whether you’re a seasoned entrepreneur or launching your very first startup, the guide will give you the insights, tools, and confidence you need to create a solid foundation for your business.

Table of Contents

How to Write a Business Plan

Embarking on the journey of creating a successful business requires a solid foundation, and a well-crafted business plan is the cornerstone. Here is the process of writing a comprehensive business plan and the main parts of a winning business plan . From setting objectives to conducting market research, this guide will have everything you need.

Executive Summary

The Executive Summary serves as the gateway to your business plan, offering a snapshot of your venture’s core aspects. This section should captivate and inform, succinctly summarizing the essence of your plan.

It’s crucial to include a clear mission statement, a brief description of your primary products or services, an overview of your target market, and key financial projections or achievements.

Think of it as an elevator pitch in written form: it should be compelling enough to engage potential investors or stakeholders and provide them with a clear understanding of what your business is about, its goals, and why it’s a promising investment.

Example: EcoTech is a technology company specializing in eco-friendly and sustainable products designed to reduce energy consumption and minimize waste. Our mission is to create innovative solutions that contribute to a cleaner, greener environment.

Our target market includes environmentally conscious consumers and businesses seeking to reduce their carbon footprint. We project a 200% increase in revenue within the first three years of operation.

Overview and Business Objectives

In the Overview and Business Objectives section, outline your business’s core goals and the strategic approaches you plan to use to achieve them. This section should set forth clear, specific objectives that are attainable and time-bound, providing a roadmap for your business’s growth and success.

It’s important to detail how these objectives align with your company’s overall mission and vision. Discuss the milestones you aim to achieve and the timeframe you’ve set for these accomplishments.

This part of the plan demonstrates to investors and stakeholders your vision for growth and the practical steps you’ll take to get there.

Example: EcoTech’s primary objective is to become a market leader in sustainable technology products within the next five years. Our key objectives include:

• Introducing three new products within the first two years of operation.
• Achieving annual revenue growth of 30%.
• Expanding our customer base to over 10,000 clients by the end of the third year.

Company Description

The Company Description section is your opportunity to delve into the details of your business. Provide a comprehensive overview that includes your company’s history, its mission statement, and its vision for the future.

Highlight your unique selling proposition (USP) – what makes your business stand out in the market. Explain the problems your company solves and how it benefits your customers.

Include information about the company’s founders, their expertise, and why they are suited to lead the business to success. This section should paint a vivid picture of your business, its values, and its place in the industry.

Example: EcoTech is committed to developing cutting-edge sustainable technology products that benefit both the environment and our customers. Our unique combination of innovative solutions and eco-friendly design sets us apart from the competition. We envision a future where technology and sustainability go hand in hand, leading to a greener planet.

Define Your Target Market

Defining Your Target Market is critical for tailoring your business strategy effectively. This section should describe your ideal customer base in detail, including demographic information (such as age, gender, income level, and location) and psychographic data (like interests, values, and lifestyle).

Elucidate on the specific needs or pain points of your target audience and how your product or service addresses these. This information will help you know your target market and develop targeted marketing strategies.

Example: Our target market comprises environmentally conscious consumers and businesses looking for innovative solutions to reduce their carbon footprint. Our ideal customers are those who prioritize sustainability and are willing to invest in eco-friendly products.

Market Analysis

The Market Analysis section requires thorough research and a keen understanding of the industry. It involves examining the current trends within your industry, understanding the needs and preferences of your customers, and analyzing the strengths and weaknesses of your competitors.

This analysis will enable you to spot market opportunities and anticipate potential challenges. Include data and statistics to back up your claims, and use graphs or charts to illustrate market trends.

This section should demonstrate that you have a deep understanding of the market in which you operate and that your business is well-positioned to capitalize on its opportunities.

Example: The market for eco-friendly technology products has experienced significant growth in recent years, with an estimated annual growth rate of 10%. As consumers become increasingly aware of environmental issues, the demand for sustainable solutions continues to rise.

Our research indicates a gap in the market for high-quality, innovative eco-friendly technology products that cater to both individual and business clients.

SWOT Analysis

A SWOT analysis in your business plan offers a comprehensive examination of your company’s internal and external factors. By assessing Strengths, you showcase what your business does best and where your capabilities lie.

Weaknesses involve an honest introspection of areas where your business may be lacking or could improve. Opportunities can be external factors that your business could capitalize on, such as market gaps or emerging trends.

Threats include external challenges your business may face, like competition or market changes. This analysis is crucial for strategic planning, as it helps in recognizing and leveraging your strengths, addressing weaknesses, seizing opportunities, and preparing for potential threats.

Including a SWOT analysis demonstrates to stakeholders that you have a balanced and realistic understanding of your business in its operational context.

• Innovative and eco-friendly product offerings.
• Strong commitment to sustainability and environmental responsibility.
• Skilled and experienced team with expertise in technology and sustainability.

Weaknesses:

• Limited brand recognition compared to established competitors.
• Reliance on third-party manufacturers for product development.

Opportunities:

• Growing consumer interest in sustainable products.
• Partnerships with environmentally-focused organizations and influencers.
• Expansion into international markets.
• Intense competition from established technology companies.
• Regulatory changes could impact the sustainable technology market.

Competitive Analysis

In this section, you’ll analyze your competitors in-depth, examining their products, services, market positioning, and pricing strategies. Understanding your competition allows you to identify gaps in the market and tailor your offerings to outperform them.

By conducting a thorough competitive analysis, you can gain insights into your competitors’ strengths and weaknesses, enabling you to develop strategies to differentiate your business and gain a competitive advantage in the marketplace.

Example: Key competitors include:

GreenTech: A well-known brand offering eco-friendly technology products, but with a narrower focus on energy-saving devices.

EarthSolutions: A direct competitor specializing in sustainable technology, but with a limited product range and higher prices.

By offering a diverse product portfolio, competitive pricing, and continuous innovation, we believe we can capture a significant share of the growing sustainable technology market.

Organization and Management Team

Provide an overview of your company’s organizational structure, including key roles and responsibilities. Introduce your management team, highlighting their expertise and experience to demonstrate that your team is capable of executing the business plan successfully.

Showcasing your team’s background, skills, and accomplishments instills confidence in investors and other stakeholders, proving that your business has the leadership and talent necessary to achieve its objectives and manage growth effectively.

Example: EcoTech’s organizational structure comprises the following key roles: CEO, CTO, CFO, Sales Director, Marketing Director, and R&D Manager. Our management team has extensive experience in technology, sustainability, and business development, ensuring that we are well-equipped to execute our business plan successfully.

Products and Services Offered

Describe the products or services your business offers, focusing on their unique features and benefits. Explain how your offerings solve customer pain points and why they will choose your products or services over the competition.

This section should emphasize the value you provide to customers, demonstrating that your business has a deep understanding of customer needs and is well-positioned to deliver innovative solutions that address those needs and set your company apart from competitors.

Example: EcoTech offers a range of eco-friendly technology products, including energy-efficient lighting solutions, solar chargers, and smart home devices that optimize energy usage. Our products are designed to help customers reduce energy consumption, minimize waste, and contribute to a cleaner environment.

Marketing and Sales Strategy

In this section, articulate your comprehensive strategy for reaching your target market and driving sales. Detail the specific marketing channels you plan to use, such as social media, email marketing, SEO, or traditional advertising.

Describe the nature of your advertising campaigns and promotional activities, explaining how they will capture the attention of your target audience and convey the value of your products or services. Outline your sales strategy, including your sales process, team structure, and sales targets.

Discuss how these marketing and sales efforts will work together to attract and retain customers, generate leads, and ultimately contribute to achieving your business’s revenue goals.

This section is critical to convey to investors and stakeholders that you have a well-thought-out approach to market your business effectively and drive sales growth.

Example: Our marketing strategy includes digital advertising, content marketing, social media promotion, and influencer partnerships. We will also attend trade shows and conferences to showcase our products and connect with potential clients. Our sales strategy involves both direct sales and partnerships with retail stores, as well as online sales through our website and e-commerce platforms.

Logistics and Operations Plan

The Logistics and Operations Plan is a critical component that outlines the inner workings of your business. It encompasses the management of your supply chain, detailing how you acquire raw materials and manage vendor relationships.

Inventory control is another crucial aspect, where you explain strategies for inventory management to ensure efficiency and reduce wastage. The section should also describe your production processes, emphasizing scalability and adaptability to meet changing market demands.

Quality control measures are essential to maintain product standards and customer satisfaction. This plan assures investors and stakeholders of your operational competency and readiness to meet business demands.

Highlighting your commitment to operational efficiency and customer satisfaction underlines your business’s capability to maintain smooth, effective operations even as it scales.

Example: EcoTech partners with reliable third-party manufacturers to produce our eco-friendly technology products. Our operations involve maintaining strong relationships with suppliers, ensuring quality control, and managing inventory.

We also prioritize efficient distribution through various channels, including online platforms and retail partners, to deliver products to our customers in a timely manner.

Financial Projections Plan

In the Financial Projections Plan, lay out a clear and realistic financial future for your business. This should include detailed projections for revenue, costs, and profitability over the next three to five years.

Ground these projections in solid assumptions based on your market analysis, industry benchmarks, and realistic growth scenarios. Break down revenue streams and include an analysis of the cost of goods sold, operating expenses, and potential investments.

This section should also discuss your break-even analysis, cash flow projections, and any assumptions about external funding requirements.

By presenting a thorough and data-backed financial forecast, you instill confidence in potential investors and lenders, showcasing your business’s potential for profitability and financial stability.

This forward-looking financial plan is crucial for demonstrating that you have a firm grasp of the financial nuances of your business and are prepared to manage its financial health effectively.

Example: Over the next three years, we expect to see significant growth in revenue, driven by new product launches and market expansion. Our financial projections include:

• Year 1: $1.5 million in revenue, with a net profit of $200,000.
• Year 2: $3 million in revenue, with a net profit of $500,000.
• Year 3: $4.5 million in revenue, with a net profit of $1 million.

These projections are based on realistic market analysis, growth rates, and product pricing.

Income Statement

The income statement , also known as the profit and loss statement, provides a summary of your company’s revenues and expenses over a specified period. It helps you track your business’s financial performance and identify trends, ensuring you stay on track to achieve your financial goals.

Regularly reviewing and analyzing your income statement allows you to monitor the health of your business, evaluate the effectiveness of your strategies, and make data-driven decisions to optimize profitability and growth.

Example: The income statement for EcoTech’s first year of operation is as follows:

• Revenue: $1,500,000
• Cost of Goods Sold: $800,000
• Gross Profit: $700,000
• Operating Expenses: $450,000
• Net Income: $250,000

This statement highlights our company’s profitability and overall financial health during the first year of operation.

Cash Flow Statement

A cash flow statement is a crucial part of a financial business plan that shows the inflows and outflows of cash within your business. It helps you monitor your company’s liquidity, ensuring you have enough cash on hand to cover operating expenses, pay debts, and invest in growth opportunities.

By including a cash flow statement in your business plan, you demonstrate your ability to manage your company’s finances effectively.

Example:  The cash flow statement for EcoTech’s first year of operation is as follows:

Operating Activities:

• Depreciation: $10,000
• Changes in Working Capital: -$50,000
• Net Cash from Operating Activities: $210,000

Investing Activities:

•  Capital Expenditures: -$100,000
• Net Cash from Investing Activities: -$100,000

Financing Activities:

• Proceeds from Loans: $150,000
• Loan Repayments: -$50,000
• Net Cash from Financing Activities: $100,000
• Net Increase in Cash: $210,000

This statement demonstrates EcoTech’s ability to generate positive cash flow from operations, maintain sufficient liquidity, and invest in growth opportunities.

Tips on Writing a Business Plan

1. Be clear and concise: Keep your language simple and straightforward. Avoid jargon and overly technical terms. A clear and concise business plan is easier for investors and stakeholders to understand and demonstrates your ability to communicate effectively.

2. Conduct thorough research: Before writing your business plan, gather as much information as possible about your industry, competitors, and target market. Use reliable sources and industry reports to inform your analysis and make data-driven decisions.

3. Set realistic goals: Your business plan should outline achievable objectives that are specific, measurable, attainable, relevant, and time-bound (SMART). Setting realistic goals demonstrates your understanding of the market and increases the likelihood of success.

4. Focus on your unique selling proposition (USP): Clearly articulate what sets your business apart from the competition. Emphasize your USP throughout your business plan to showcase your company’s value and potential for success.

5. Be flexible and adaptable: A business plan is a living document that should evolve as your business grows and changes. Be prepared to update and revise your plan as you gather new information and learn from your experiences.

6. Use visuals to enhance understanding: Include charts, graphs, and other visuals to help convey complex data and ideas. Visuals can make your business plan more engaging and easier to digest, especially for those who prefer visual learning.

7. Seek feedback from trusted sources: Share your business plan with mentors, industry experts, or colleagues and ask for their feedback. Their insights can help you identify areas for improvement and strengthen your plan before presenting it to potential investors or partners.

FREE Business Plan Template

To help you get started on your business plan, we have created a template that includes all the essential components discussed in the “How to Write a Business Plan” section. This easy-to-use template will guide you through each step of the process, ensuring you don’t miss any critical details.

The template is divided into the following sections:

• Mission statement
• Business Overview
• Key products or services
• Target market
• Financial highlights
• Company goals
• Strategies to achieve goals
• Measurable, time-bound objectives
• Company History
• Mission and vision
• Unique selling proposition
• Demographics
• Psychographics
• Pain points
• Industry trends
• Customer needs
• Competitor strengths and weaknesses
• Opportunities
• Competitor products and services
• Market positioning
• Pricing strategies
• Organizational structure
• Key roles and responsibilities
• Management team backgrounds
• Product or service features
• Competitive advantages
• Marketing channels
• Advertising campaigns
• Promotional activities
• Sales strategies
• Supply chain management
• Inventory control
• Production processes
• Quality control measures
• Projected revenue
• Assumptions
• Cash inflows
• Cash outflows
• Net cash flow

What is a Business Plan?

A business plan is a strategic document that outlines an organization’s goals, objectives, and the steps required to achieve them. It serves as a roadmap as you start a business , guiding the company’s direction and growth while identifying potential obstacles and opportunities.

Typically, a business plan covers areas such as market analysis, financial projections, marketing strategies, and organizational structure. It not only helps in securing funding from investors and lenders but also provides clarity and focus to the management team.

A well-crafted business plan is a very important part of your business startup checklist because it fosters informed decision-making and long-term success.

Why You Should Write a Business Plan

Understanding the importance of a business plan in today’s competitive environment is crucial for entrepreneurs and business owners. Here are five compelling reasons to write a business plan:

• Attract Investors and Secure Funding : A well-written business plan demonstrates your venture’s potential and profitability, making it easier to attract investors and secure the necessary funding for growth and development. It provides a detailed overview of your business model, target market, financial projections, and growth strategies, instilling confidence in potential investors and lenders that your company is a worthy investment.
• Clarify Business Objectives and Strategies : Crafting a business plan forces you to think critically about your goals and the strategies you’ll employ to achieve them, providing a clear roadmap for success. This process helps you refine your vision and prioritize the most critical objectives, ensuring that your efforts are focused on achieving the desired results.
• Identify Potential Risks and Opportunities : Analyzing the market, competition, and industry trends within your business plan helps identify potential risks and uncover untapped opportunities for growth and expansion. This insight enables you to develop proactive strategies to mitigate risks and capitalize on opportunities, positioning your business for long-term success.
• Improve Decision-Making : A business plan serves as a reference point so you can make informed decisions that align with your company’s overall objectives and long-term vision. By consistently referring to your plan and adjusting it as needed, you can ensure that your business remains on track and adapts to changes in the market, industry, or internal operations.
• Foster Team Alignment and Communication : A shared business plan helps ensure that all team members are on the same page, promoting clear communication, collaboration, and a unified approach to achieving the company’s goals. By involving your team in the planning process and regularly reviewing the plan together, you can foster a sense of ownership, commitment, and accountability that drives success.

What are the Different Types of Business Plans?

In today’s fast-paced business world, having a well-structured roadmap is more important than ever. A traditional business plan provides a comprehensive overview of your company’s goals and strategies, helping you make informed decisions and achieve long-term success. There are various types of business plans, each designed to suit different needs and purposes. Let’s explore the main types:

• Startup Business Plan: Tailored for new ventures, a startup business plan outlines the company’s mission, objectives, target market, competition, marketing strategies, and financial projections. It helps entrepreneurs clarify their vision, secure funding from investors, and create a roadmap for their business’s future. Additionally, this plan identifies potential challenges and opportunities, which are crucial for making informed decisions and adapting to changing market conditions.
• Internal Business Plan: This type of plan is intended for internal use, focusing on strategies, milestones, deadlines, and resource allocation. It serves as a management tool for guiding the company’s growth, evaluating its progress, and ensuring that all departments are aligned with the overall vision. The internal business plan also helps identify areas of improvement, fosters collaboration among team members, and provides a reference point for measuring performance.
• Strategic Business Plan: A strategic business plan outlines long-term goals and the steps to achieve them, providing a clear roadmap for the company’s direction. It typically includes a SWOT analysis, market research, and competitive analysis. This plan allows businesses to align their resources with their objectives, anticipate changes in the market, and develop contingency plans. By focusing on the big picture, a strategic business plan fosters long-term success and stability.
• Feasibility Business Plan: This plan is designed to assess the viability of a business idea, examining factors such as market demand, competition, and financial projections. It is often used to decide whether or not to pursue a particular venture. By conducting a thorough feasibility analysis, entrepreneurs can avoid investing time and resources into an unviable business concept. This plan also helps refine the business idea, identify potential obstacles, and determine the necessary resources for success.
• Growth Business Plan: Also known as an expansion plan, a growth business plan focuses on strategies for scaling up an existing business. It includes market analysis, new product or service offerings, and financial projections to support expansion plans. This type of plan is essential for businesses looking to enter new markets, increase their customer base, or launch new products or services. By outlining clear growth strategies, the plan helps ensure that expansion efforts are well-coordinated and sustainable.
• Operational Business Plan: This type of plan outlines the company’s day-to-day operations, detailing the processes, procedures, and organizational structure. It is an essential tool for managing resources, streamlining workflows, and ensuring smooth operations. The operational business plan also helps identify inefficiencies, implement best practices, and establish a strong foundation for future growth. By providing a clear understanding of daily operations, this plan enables businesses to optimize their resources and enhance productivity.
• Lean Business Plan: A lean business plan is a simplified, agile version of a traditional plan, focusing on key elements such as value proposition, customer segments, revenue streams, and cost structure. It is perfect for startups looking for a flexible, adaptable planning approach. The lean business plan allows for rapid iteration and continuous improvement, enabling businesses to pivot and adapt to changing market conditions. This streamlined approach is particularly beneficial for businesses in fast-paced or uncertain industries.
• One-Page Business Plan: As the name suggests, a one-page business plan is a concise summary of your company’s key objectives, strategies, and milestones. It serves as a quick reference guide and is ideal for pitching to potential investors or partners. This plan helps keep teams focused on essential goals and priorities, fosters clear communication, and provides a snapshot of the company’s progress. While not as comprehensive as other plans, a one-page business plan is an effective tool for maintaining clarity and direction.
• Nonprofit Business Plan: Specifically designed for nonprofit organizations, this plan outlines the mission, goals, target audience, fundraising strategies, and budget allocation. It helps secure grants and donations while ensuring the organization stays on track with its objectives. The nonprofit business plan also helps attract volunteers, board members, and community support. By demonstrating the organization’s impact and plans for the future, this plan is essential for maintaining transparency, accountability, and long-term sustainability within the nonprofit sector.
• Franchise Business Plan: For entrepreneurs seeking to open a franchise, this type of plan focuses on the franchisor’s requirements, as well as the franchisee’s goals, strategies, and financial projections. It is crucial for securing a franchise agreement and ensuring the business’s success within the franchise system. This plan outlines the franchisee’s commitment to brand standards, marketing efforts, and operational procedures, while also addressing local market conditions and opportunities. By creating a solid franchise business plan, entrepreneurs can demonstrate their ability to effectively manage and grow their franchise, increasing the likelihood of a successful partnership with the franchisor.

Using Business Plan Software

Creating a comprehensive business plan can be intimidating, but business plan software can streamline the process and help you produce a professional document. These tools offer a number of benefits, including guided step-by-step instructions, financial projections, and industry-specific templates. Here are the top 5 business plan software options available to help you craft a great business plan.

1. LivePlan

LivePlan is a popular choice for its user-friendly interface and comprehensive features. It offers over 500 sample plans, financial forecasting tools, and the ability to track your progress against key performance indicators. With LivePlan, you can create visually appealing, professional business plans that will impress investors and stakeholders.

2. Upmetrics

Upmetrics provides a simple and intuitive platform for creating a well-structured business plan. It features customizable templates, financial forecasting tools, and collaboration capabilities, allowing you to work with team members and advisors. Upmetrics also offers a library of resources to guide you through the business planning process.

Bizplan is designed to simplify the business planning process with a drag-and-drop builder and modular sections. It offers financial forecasting tools, progress tracking, and a visually appealing interface. With Bizplan, you can create a business plan that is both easy to understand and visually engaging.

Enloop is a robust business plan software that automatically generates a tailored plan based on your inputs. It provides industry-specific templates, financial forecasting, and a unique performance score that updates as you make changes to your plan. Enloop also offers a free version, making it accessible for businesses on a budget.

5. Tarkenton GoSmallBiz

Developed by NFL Hall of Famer Fran Tarkenton, GoSmallBiz is tailored for small businesses and startups. It features a guided business plan builder, customizable templates, and financial projection tools. GoSmallBiz also offers additional resources, such as CRM tools and legal document templates, to support your business beyond the planning stage.

Business Plan FAQs

What is a good business plan.

A good business plan is a well-researched, clear, and concise document that outlines a company’s goals, strategies, target market, competitive advantages, and financial projections. It should be adaptable to change and provide a roadmap for achieving success.

What are the 3 main purposes of a business plan?

The three main purposes of a business plan are to guide the company’s strategy, attract investment, and evaluate performance against objectives. Here’s a closer look at each of these:

• It outlines the company’s purpose and core values to ensure that all activities align with its mission and vision.
• It provides an in-depth analysis of the market, including trends, customer needs, and competition, helping the company tailor its products and services to meet market demands.
• It defines the company’s marketing and sales strategies, guiding how the company will attract and retain customers.
• It describes the company’s organizational structure and management team, outlining roles and responsibilities to ensure effective operation and leadership.
• It sets measurable, time-bound objectives, allowing the company to plan its activities effectively and make strategic decisions to achieve these goals.
• It provides a comprehensive overview of the company and its business model, demonstrating its uniqueness and potential for success.
• It presents the company’s financial projections, showing its potential for profitability and return on investment.
• It demonstrates the company’s understanding of the market, including its target customers and competition, convincing investors that the company is capable of gaining a significant market share.
• It showcases the management team’s expertise and experience, instilling confidence in investors that the team is capable of executing the business plan successfully.
• It establishes clear, measurable objectives that serve as performance benchmarks.
• It provides a basis for regular performance reviews, allowing the company to monitor its progress and identify areas for improvement.
• It enables the company to assess the effectiveness of its strategies and make adjustments as needed to achieve its objectives.
• It helps the company identify potential risks and challenges, enabling it to develop contingency plans and manage risks effectively.
• It provides a mechanism for evaluating the company’s financial performance, including revenue, expenses, profitability, and cash flow.

Can I write a business plan by myself?

Yes, you can write a business plan by yourself, but it can be helpful to consult with mentors, colleagues, or industry experts to gather feedback and insights. There are also many creative business plan templates and business plan examples available online, including those above.

We also have examples for specific industries, including a using food truck business plan , salon business plan , farm business plan , daycare business plan , and restaurant business plan .

Is it possible to create a one-page business plan?

Yes, a one-page business plan is a condensed version that highlights the most essential elements, including the company’s mission, target market, unique selling proposition, and financial goals.

How long should a business plan be?

A typical business plan ranges from 20 to 50 pages, but the length may vary depending on the complexity and needs of the business.

What is a business plan outline?

A business plan outline is a structured framework that organizes the content of a business plan into sections, such as the executive summary, company description, market analysis, and financial projections.

What are the 5 most common business plan mistakes?

The five most common business plan mistakes include inadequate research, unrealistic financial projections, lack of focus on the unique selling proposition, poor organization and structure, and failure to update the plan as circumstances change.

What questions should be asked in a business plan?

A business plan should address questions such as: What problem does the business solve? Who is the specific target market ? What is the unique selling proposition? What are the company’s objectives? How will it achieve those objectives?

What’s the difference between a business plan and a strategic plan?

A business plan focuses on the overall vision, goals, and tactics of a company, while a strategic plan outlines the specific strategies, action steps, and performance measures necessary to achieve the company’s objectives.

How is business planning for a nonprofit different?

Nonprofit business planning focuses on the organization’s mission, social impact, and resource management, rather than profit generation. The financial section typically includes funding sources, expenses, and projected budgets for programs and operations.

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How to Write a Business Plan, Step by Step

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money .

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 Write a Business Plan (Plus Examples & Templates)

• 3 years ago

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?

Brandon Boushy

Brandon Boushy lives to improve people’s lives by helping them become successful entrepreneurs. His journey started nearly 30 years ago. He consistently excelled at everything he did, but preferred to make the rules rather than follow him. His exploration of self and knowledge has helped him to get an engineering degree, MBA, and countless certifications. When freelancing and rideshare came onto the scene, he recognized the opportunity to play by his own rules. Since 2017, he has helped businesses across all industries achieve more with his research, writing, and marketing strategies. Since 2021, he has been the Lead Writer for UpFlip where he has published over 170 articles on small business success.

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8 Business Plan Templates You Can Get for Free

8 min. read

Updated April 10, 2024

A business plan template can be an excellent tool to simplify the creation of your business plan. 

The pre-set structure helps you organize ideas, covers all critical business information, and saves you time and effort on formatting.

The only issue? There are SO many free business plan templates out there. 

So, which ones are actually worth using? 

To help remove the guesswork, I’ve rounded up some of the best business plan templates you can access right now. 

These are listed in no particular order, and each has its benefits and drawbacks.

What to look for in a business plan template

Not all business plan templates are created equal. As you weigh your options and decide which template(s) you’ll use, be sure to review them with the following criteria in mind:

• Easy to edit: A template should save you time. That won’t be the case if you have to fuss around figuring out how to edit the document, or even worse, it doesn’t allow you to edit at all.
• Contains the right sections: A good template should cover all essential sections of a business plan , including the executive summary, product/service description, market/competitive analysis, marketing and sales plan, operations, milestones, and financial projections. 
• Provides guidance: You should be able to trust that the information in a template is accurate. That means the organization or person who created the template is highly credible, known for producing useful resources, and ideally has some entrepreneurial experience.
• Software compatibility: Lastly, you want any template to be compatible with the software platforms you use. More than likely, this means it’s available in Microsoft Word, Google Docs, or PDF format at a minimum. 

1. Bplans — A plan with expert guidance

Since you’re already on Bplans, I have to first mention the templates that we have available. 

Our traditional and one-page templates were created by entrepreneurs and business owners with over 80 years of collective planning experience. We revisit and update them annually to ensure they are approachable, thorough, and aligned with our team’s evolving best practices.  

The templates, available in Word, PDF, or Google Doc formats, include in-depth guidance on what to include in each section, expert tips, and links to additional resources. 

Plus, we have over 550 real-world sample business plans you can use for guidance when filling out your template.

Download: Traditional lender-ready business plan template or a simple one-page plan template .

Brought to you by

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Using ai and step-by-step instructions.

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2. SBA — Introduction to business plans

The U.S. Small Business Administration (SBA) offers two different business plan templates along with a short planning guide. 

While not incredibly in-depth, it’s enough to help you understand how traditional and lean plans are structured and what information needs to be covered. The templates themselves are more like examples, providing you with a finished product to reference as you write your plan.

The key benefit of using these templates is that they were created by the SBA. While they may provide less guidance, you can be assured that the information and structure meet their expectations.

Explore: The SBA’s planning guide and free templates

3. SCORE — Planning workbook

SCORE’s template is more like a workbook. It includes exercises after each section to help you get your ideas down and turn them into a structured plan.

The market research worksheets are especially useful. They provide a clear framework for identifying your target market and analyzing competitors from multiple angles. Plus, they give you an easy way to document all the information you’re collecting.

You will likely have to remove the exercises in this template to make it investor-ready. But it can be worth it if you’re struggling to get past a blank page and want a more interactive planning method.

Download: SCORE’s business plan template

4. PandaDoc — A template with fillable forms

PandaDoc’s library offers a variety of industry-specific business plan templates that feature a modern design flair and concise instructions. 

These templates are designed for sharing. They include fillable fields and sections for non-disclosure agreements, which may be necessary when sending a plan to investors.  

But the real benefit is their compatibility with PandaDoc’s platform. Yes, they are free, but if you’re a PandaDoc subscriber, you’ll have far more customization options. 

Out of all their templates, the standard business plan template is the most in-depth. The rest, while still useful, go a bit lighter on guidance in favor of tailoring the plan to a specific industry.

Explore: PandaDoc’s business plan template library  

5. Canva — Pitch with your plan

Canva is a great option for building a visually stunning business plan that can be used as a pitch tool. It offers a diverse array of templates built by their in-house team and the larger creative community, meaning the number of options constantly grows.

You will need to verify that the information in the template you choose matches the standard structure of a traditional business plan. 

You should do this with any template, but it’s especially important with any tool that accepts community submissions. While they are likely reviewed and approved, there may still be errors.

Remember, you can only edit these templates within Canva. Luckily, you only need a free subscription, and you may just miss out on some of the visual assets being used. 

To get the most value, it may be best to create a more traditional planning document and transfer that information into Canva. 

Explore: Canva’s business plan gallery

6. ClickUp — The collaborative template

Out of all the project management tools that offer free business plan templates, ClickUp’s is the most approachable.

Rather than throwing you into all the features and expecting you to figure it out—ClickUp provides a thorough startup guide with resource links, images, and videos explaining how to write a plan using the tool. 

There’s also a completed sample plan (structured like an expanded one-page plan) for you to reference and see how the more traditional document can connect to the product management features. You can set goals, target dates, leave comments, and even assign tasks to someone else on your team. 

These features are limited to the ClickUp platform and will not be useful for everyone. They will likely get in the way of writing a plan you can easily share with lenders or investors. 

But this is a great option if you’re looking for a template that makes internal collaboration more fluid and keeps all your information in one place.

Sign Up: Get a free trial of ClickUp and explore their template library

7. Smartsheet — A wide variety of templates

I’m including Smartsheet’s library of templates on this list because of the sheer number of options they provide. 

They have a simple business plan template, a one-page plan, a fill-in-the-blank template, a plan outline, a plan grading rubric, and even an Excel-built project plan. All are perfectly usable and vary in visual style, depth of instructions, and the available format.

Honestly, the only drawback (which is also the core benefit) is that the amount of templates can be overwhelming. If you’re already uncertain which plan option is right for you, the lengthy list they provide may not provide much clarity.

At the same time, it can be a great resource if you want a one-stop shop to view multiple plan types.

Explore: Smartsheet’s business plan template library  

8. ReferralRock affiliate marketing business plan

I’m adding ReferralRock’s template to this list due to its specificity. 

It’s not your standard business plan template. The plan is tailored with specific sections and guidance around launching an affiliate marketing business. 

Most of the template is dedicated to defining how to choose affiliates, set commissions, create legal agreements, and track performance.

So, if you plan on starting an affiliate marketing business or program, this template will provide more specific guidance. Just know that you will likely need to reference additional resources when writing the non-industry sections of your plan.

Download: ReferralRock affiliate marketing business plan template

Does it matter what business plan template you use?

The short answer is no. As long as the structure is correct, it saves you time, and it helps you write your business plan , then any template will work. 

What it ultimately comes down to, is what sort of value you hope to get from the template. 

• Do you need more guidance? 
• A simple way to structure your plan? 
• An option that works with a specific tool?
• A way to make your plan more visually interesting?

Hopefully, this list has helped you hone in on an option that meets one (or several) of these needs. Still, it may be worth downloading a few of these templates to determine the right fit. 

And really, what matters most is that you spend time writing a business plan . It will help you avoid early mistakes, determine if you have a viable business, and fully consider what it will take to get up and running. 

If you need additional guidance, check out our library of planning resources . We cover everything from plan formats , to how to write a business plan, and even how to use it as a management tool . 

If you don’t want to waste time researching other templates, you can download our one-page or traditional business plan template and jump right into the planning 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

• Qualities of a good template
• ReferralRock
• Does the template matter?

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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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The Smartsheet platform makes it easy to plan, capture, manage, and report on work from anywhere, helping your team be more effective and get more done. Report on key metrics and get real-time visibility into work as it happens with roll-up reports, dashboards, and automated workflows built to keep your team connected and informed. 

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.

Discover why over 90% of Fortune 100 companies trust Smartsheet to get work done.

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Top Five 10-Year Plan Templates with Samples and Examples

Lakshya Khurana

“To accomplish this goal, we have to have a plan, and then the ability to execute this plan.”

These words from Lindsey Parker, the main character in an independent horror film, Unwanted Presence have timeless business relevance. They might not have any redeeming value as film dialogue, but they fit the role of a corporate mantra exceedingly well. You want an actionable plan where you know that you also have the ability to bring it to fruition.

Ten years is the perfect length of time to focus on not only long-term goals but the short-term objectives. What you need is a medium to present and share this 10-year plan with stakeholders to ensure all (up to individual levels) are updated on their roles and are working toward a common goal.

To help with this need a major pain point that rankles businesses, SlideTeam brings you the Top Five 10-Year Plan Templates that you can use to create an open communication channel among people involved in designing this blueprint of your company’s future.

As always, the 100% editable nature of these templates provides the necessary flexibility, while the content-ready heart gives you the structure you need.

Let’s tour these templates and help you find the one(s) that are right for you!

Template 1: Ten-Year Organization History Timeline for Success

To plan well, you must be aware of the past. Use this PPT Slide to deliver the company’s planning history over a significant timeline. Present the actions that the business has taken in these 10 years such as the planning, design work, creating the product, testing, and more. Keeping to the theme, the slide offers you 10 key phrases to keep in mind as you ponder about the ideal future. The thinking verbs are Plan, Create, Refine, Monitor, Implement, Design, Test, Operations, Feedback, and ultimate Success. With such actionable thought points, you cannot go wrong. Download this template to take a well-thought-out step forward and use it with clarity.

DOWNLOAD NOW

Template 2: Long-Term Financial Plan 10-Year PowerPoint Slides

What should your revenue chart look like in 10 years and how do plan to achieve this target? Use this PowerPoint Layout to answer these questions and present the confident answer before the management with a visual representation of your 10-year financial plan. Download this template to assure your superiors why your plan is bound to be successful. The design is the USP of this template that gives it the much-needed practical utility.

CLICK HERE TO DOWNLOAD

Template 3: 10-Year Roadmap of Corporate Employee Growth

As a business, your work in hiring is not finished once a (talented) candidate is on board with you. Once inducted into your company, HR managers and direct supervisors need to help employees in developing and showcase their value to the organization. To ensure that employees are connected to your business and stay engaged in their jobs, use this slide to showcase how you will use social connectedness, learning, performance improvement, and more to make a difference over the long term. Download this template from the link below.

GET IT HERE

Template 4: 10-Year Planning Gantt Chart PowerPoint Slides

A Gantt Chart is a fabulous visual representation of the 10-year plan for the project you are undertaking. Using this colorful PPT Layout, assign each task to its rightful position on the project timeline. Download this template to keep track of your project progress and keep employees informed about their roles and responsibilities.

Template 5: Investor Funding Elevator Pitch Deck 10-Year Growth Timeline

A company’s growth has varied metrics on which it can be judged. Use this PPT Preset (with the Turo company as the example) to present a 10-year plan and the milestones within it that you wish to achieve to expand your business. Download this template to show your stakeholders and investors that you have the right vision for the company.

EACH STEP COUNTS

As you hit every milestone on your 10-year plan, grand success is inevitable. Use our templates to bring people on board to help you do this. These PowerPoint Slides are content-ready which saves you the effort of researching and 100% editable, which saves you time and gives you a ready-to-use PowerPoint Presentation. What’s more, these are only a click away!

P.S. Do you wish for premium quality templates to present your business plan for the next 30, 60, and 90 days? Check out our blog here to access these templates and run a smooth project.

FAQs on 10-Year Plans

What does a 10-year plan include.

A 10-year plan should include a clear vision of your long-term goals and aspirations, along with specific steps that you will take to achieve these. It’s important to assess your current situation and identify any necessary changes to achieve your goals. This may involve developing new skills or pursuing further education. Your plan should also consider potential obstacles and opportunities, and include contingency plans for sure. Regular review and adjustment of your plan can help ensure that you stay on track and are always on the move toward your desired outcome. It’s important to stay focused and committed to your plan while remaining flexible to adapt to changing circumstances.

Do I need a 10-year plan?

Whether or not you need a 10-year plan depends on your personal goals and aspirations. Having a long-term plan can help provide direction, motivation, and a sense of purpose. It can also help you prioritize your actions. However, if you are comfortable with your current situation and don’t have specific long-term goals, then a 10-year plan may not be necessary. It’s ultimately up to you to determine if having a 10-year plan aligns with your personal values and aspirations.

How do you create a 5- or a 10-year plan?

To create a 5- and 10-year plan, start by defining your long-term goals and aspirations. Consider what you want to achieve in both your personal and professional life. Break down those goals into Specific, Measurable, Achievable, Relevant, and Time-bound (SMART) objectives. Identify the steps you must take to achieve those objectives, including developing new skills, obtaining education or training, and building a network of contacts. Consider likely obstacles and opportunities, and develop contingency plans. Finally, review your plan regularly, and remain flexible to adapt to changing circumstances. Seek guidance from a mentor or coach to help you create and implement your plan.

Related posts:

• How to Design the Perfect Service Launch Presentation [Custom Launch Deck Included]
• Quarterly Business Review Presentation: All the Essential Slides You Need in Your Deck
• [Updated 2023] How to Design The Perfect Product Launch Presentation [Best Templates Included]
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Business Plan: What It Is + How to Write One

Discover what a business plan includes and how writing one can foster your business’s development.

What is a business plan? 

Think of a business plan as a document that guides the journey to start-up and beyond. Business plans are written documents that define your business goals and the strategies you’ll use to achieve those goals. In addition to exploring the competitive environment in which the business will operate, a business plan also analyses a market and different customer segments, describes the products and services, lists business strategies for success, and outlines financial planning.  

How to write a business plan 

In the sections below, you’ll build the following components of your business plan:

Executive summary

Business description 

Products and services 

Competitor analysis 

Marketing plan and sales strategies 

Brand strategy

Financial planning

Explore each section to bring fresh inspiration and reveal new possibilities for developing your business. Depending on your format, you may adapt the sections, skip over some, or go deeper into others. Consider your first draft a foundation for your efforts and one you can revise, as needed, to account for changes in any area of your business.  

1. Executive summary 

This short section introduces the business plan as a whole to the people who will be reading it, including investors, lenders, or other members of your team. Start with a sentence or two about your business, development goals, and why it will succeed. If you are seeking funding, summarise the basics of the financial plan. 

2. Business description 

You can use this section to provide detailed information about your company and how it will operate in the marketplace. 

Mission statement: What drives your desire to start a business? What purpose are you serving? What do you hope to achieve for your business, the team, and your customers? 

Revenue streams: From what sources will your business generate revenue? Examples include product sales, service fees, subscriptions, rental fees, licence fees, and more. 

Leadership: Describe the leaders in your business, their roles and responsibilities, and your vision for building teams to perform various functions, such as graphic design, product development, or sales.  

Legal structure: If you’ve incorporated your business, include the legal structure here and the rationale behind this choice. 

3. Competitor analysis 

This section will assess potential competitors, their offers, and marketing and sales efforts. For each competitor, explore the following: 

Value proposition: What outcome or experience does this brand promise?

Products and services: How does each solve customer pain points and fulfill desires? What are the price points? 

Marketing: Which channels do competitors use to promote? What kind of content does this brand publish on these channels? What messaging does this brand use to communicate value to customers?  

Sales: What sales process or buyer’s journey does this brand lead customers through?

4. Products and services

Use this section to describe everything your business offers to its target market. For every product and service, list the following: 

The value proposition or promise to customers, in terms of how they will experience it

How the product serves customers, addresses their pain points, satisfies their desires, and improves their lives

The features or outcomes that make the product better than those of competitors

Your price points and how these compare to competitors

5. Marketing plan and sales strategies 

In this section, you’ll draw from thorough market research to describe your target market and how you will reach it. 

Who are your ideal customers?   

How can you describe this segment according to their demographics (age, ethnicity, income, location, etc.) and psychographics (beliefs, values, aspirations, lifestyle, etc.)? 

What are their daily lives like? 

What problems and challenges do they experience? 

What words, phrases, ideas, and concepts do consumers in your target market use to describe these problems when posting on social media or engaging with your competitors?  

What messaging will present your products as the best on the market? How will you differentiate messaging from competitors? 

On what marketing channels will you position your products and services?

How will you design a customer journey that delivers a positive experience at every touchpoint and leads customers to a purchase decision?

6. Brand strategy 

In this section, you will describe your business’s design, personality, values, voice, and other details that go into delivering a consistent brand experience. 

What are the values that define your brand?

What visual elements give your brand a distinctive look and feel?

How will your marketing messaging reflect a distinctive brand voice, including tone, diction, and sentence-level stylistic choices? 

How will your brand look and sound throughout the customer journey? 

Define your brand positioning statement. What will inspire your audience to choose your brand over others? What experiences and outcomes will your audience associate with your brand? 

7. Financial planning  

In this section, you will explore your business’s financial future. Suppose you are writing a traditional business plan to seek funding. In that case, this section is critical for demonstrating to lenders or investors you have a strategy for turning your business ideas into profit. For a lean start-up business plan, this section can provide a valuable exercise for planning how to invest resources and generate revenue [ 1 ].  

Use past financials and other sections of this business plan to begin your financial planning, such as your price points or sales strategies. 

How many individual products or service packages do you plan to sell over a specific period?

List your business expenses, such as subscribing to software or other services, hiring contractors or employees, purchasing physical supplies or equipment, etc.

What is your break-even point or the amount you must sell to cover all expenses?

Create a sales forecast for the next three to five years: (No. of units to sell X price for each unit) – (cost per unit X No. of units) = sales forecast

Quantify how much capital you have on hand.

When writing a traditional business plan to secure funding, you may append supporting documents, such as licences, permits, patents, letters of reference, resumes, product blueprints, brand guidelines, the industry awards you’ve received, and media mentions and appearances.

Business plan key takeaways and best practices

Remember: Creating a business plan is crucial when starting a business. You can use this document to guide your decisions and actions and even seek funding from lenders and investors. 

Keep these best practices in mind:

Your business plan should evolve as your business grows. Return to it periodically, such as quarterly or annually, to update individual sections or explore new directions your business can take.

Make sure everyone on your team has a copy of the business plan, and welcome their input as they perform their roles. 

Ask fellow entrepreneurs for feedback on your business plan and look for opportunities to strengthen it, from conducting more market and competitor research to implementing new strategies for success. 

Start your business with Coursera 

Ready to start your business? Watch this video on the Lean approach from the Entrepreneurship Specialisation on Coursera: 

Article sources

Inc. “ How to Write the Financial Section of a Business Plan ,   https://www.inc.com/guides/business-plan-financial-section.html.” Accessed April 15, 2024.

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10-Year Goals: 101 Examples

10-year goals are generally considered long-term goals . This means that they should be some of your bigger-picture ambitions for your life.

These goals could represent your hopes and dreams over the next decade for your career, relationships, family, personal ambitions, travel, finances, or anything else you truly desire and are fundamental to your core value set.

Generally, after identifying these 10-year future goals , I recommend creating shorter milestones, like 5-year goals and even short-term goals that align with your 10-year vision and will help give you the motivation to get there.

But for now, let’s think big. Have a browse through the following examples and pick out one or two goals that really resonate with you. Then, scroll to the end of the list to get your SMART Goals Template that will help you to build out your plan to go after your life’s ambitions.

10-Year Goals Examples

Career goals.

1. Leadership Position: Attain a senior executive role, such as C-suite or director-level, in your field within a decade by consistently showing exceptional performance and fostering strong alliances with key personnel (for more, read about leadership goals here ).

2. Expertise Recognition: Be recognized as an industry expert, invited as a keynote speaker at major professional events or contributing regular editorials to prominent industry publications, achieved within the 10-year period.

3. Professional Change: Pivot to a different, more fulfilling industry over the decade by undertaking further studies, engaging in related volunteer work, or starting from entry-level roles in the desired field.

4. Business Expansion: If you started a business, aim to expand it internationally or across multiple cities (For example, a locally successful restaurant owner might aspire to franchise his business in different states.)

5. Significant Contribution: Make a substantial contribution to the organization or the industry as a whole through conceptualizing and implementing a game-changing initiative or strategy that alters the status quo by the end of the 10-year period.

6. Skill Mastery : Develop a comprehensive grasp of a highly specialized skill set, such as project management or data analysis, with examples like earning a Six Sigma Black Belt certification or mastering coding languages like Python and R.

7. Influence Decision-Making : Strive to influence major decisions in your organization over a decade. This means having your opinions considered seriously by decision-makers, reflecting the high regard they hold for your expertise and perspective.

8. Equity Stake : Aim for creating an equity stake in the business you work for, subscribing to the startup culture where employees often have shares or options.

9. Entrepreneurship : Embark on an entrepreneurial journey. This could involve leaving your current employment situation and starting your own venture, whether it’s a brick and mortar shop, an e-commerce platform, or a tech startup.

10. Job Satisfaction : Attain work-life balance and job satisfaction within a decade. This could include the ability to work remotely, flexible hours, or achieving a balance between your professional and personal development.

11. Networking : Build an extensive professional network that includes mentors, industry leaders, peers, and younger professionals within a decade.

12. Intellectual Property : Develop a novel piece of technology, a novel process, or a replicable business system that secures a patent within ten years.

13. Social Impact : Create or be a part of substantial social impact projects through your career in a decade. For instance, a software developer might aim to create applications that improve the quality of life for disabled people.

14. Higher Education : Aspire to achieve a higher level of education, such as a master’s degree or a doctorate, that is relevant to your career path within a decade.

15. Financial Stability : Aim for financial stability and set a 10-year target for savings, investments, or even a retirement fund.

See Also: Long-Term Career Goals Examples

Relationship Goals

16. Cohabitation: Aim to live together for a few years within the decade to understand each other’s routines, habits, and coping mechanisms (For example, learning how each of you deals with household chores or bill payments).

17. Marriage: If you are currently dating or engaged, set a goal to get married and form a legally recognized union within this 10-year period.

18. Building a Family: If you’re in a committed partnership, consider expanding your family by having or adopting kids within a decade, only if it aligns with both partners’ desires.

19. Mutual Respect: Work towards cultivating an environment of mutual respect, where each individual values the other’s perspectives, feelings and choices, throughout the decade.

20. Emotional Understanding: Strive for deep emotional understanding where each partner is adept at identifying the other’s emotional needs and providing comfort or stability as needed.

21. Financial Stability: Pool your resources towards achieving a specific financial goal within a decade. This could be buying a house, making a significant investment, or even starting a business together.

22. Traditions: Create personal traditions that cater to your collective interests, such as annual camping trips or visiting a particular place on each anniversary (For example, visiting the place where the proposal was made every anniversary).

23. Conflict Resolution: Develop efficient methods to resolve disagreements or conflicts that consider each other’s feelings and the goal of finding a positive resolution.

24. Shared Goals: Have a list of shared objectives, such as traveling to a specific number of countries together, completing a marathon, or learning a new language over tie next decade.

25. Decade-long Commitment: Aim to stay committed to each other, consistently making efforts to improve the quality of your relationship throughout the ten-year span.

26. Celebration of Milestones: Celebrate major milestones together such as anniversaries, career accomplishments, or any other significant achievements.

27. Advocate Equality: Define and maintain a partnership where both parties enjoy equal rights and privileges, advocating equality in all decisions, chores, and responsibilities.

28. Clear Communication: Maintain clear communication lines throughout the 10 years, making sure each partner feels heard and understood in every conversation. ( See more Communication Goals Examples Here )

29. Personal Growth: Encourage each other’s personal growth, whether it’s learning new skills, pursuing hobbies or advancing in careers.

30. Unwavering Support: Provide unwavering support for each other, irrespective of the situation, pointing out positives, providing constructive criticism , and lifting up whenever needed.

Financial Goals

31. Revenue Streams: Diversify your revenue streams over the decade by exploring opportunities such as investment portfolios, real estate, or starting your own side business.

32. Retirement Planning: Invest and save wisely to fortify your retirement fund and aim for a specific amount by the end of the decade.

33. Debt Clearance: Zero out any outstanding debts, including student loans, mortgages, or credit card bills, within the next 10 years.

34. Home Ownership: If you don’t already own, set a goal to purchase your own house within the decade.

35. Savings Account: Build a substantial savings account, buffering for emergencies or unexpected expenses. For example, aim to save a year’s worth of living expenses.

36. Investment Mastery: Master the art of investing, learning the intricacies of stock market, mutual funds, or cryptocurrency within a decade.

37. Child’s Education Fund: If you have kids or plan to, start building a solid education fund for them within the next 10 years.

38. Charitable Contributions: Set a goal to regularly donate a set percentage of your income to causes you care about, growing to a significant amount over a decade.

39. Insurance Coverage: Lock in comprehensive insurance coverage that includes health, life, and possibly disability insurance within this period.

40. Financial Literacy: Educate yourself in financial literacy, mastering budgeting, investing, reading financial documents, and understanding tax laws.

41. Passive Income: Develop passive income sources that generate a certain amount each year, like rental income from a second property or profits from a low-involvement business.

42. Estate Planning: Plan your estate within this period, including making a will and arranging for assets distribution.

43. College Fund: If it’s applicable, set a goal to fully fund your children’s college fees within this period.

44. Financial Independence: Reach a state where your investments, savings, and passive income can cover your living expenses, making you financially independent.

45. Business Ownership: If you have entrepreneurial aspirations, aim to own a profitable, self-sustaining business within the next 10 years.

Personal Dreams

46. Global Travel : Aim to visit every continent or a certain number of countries within the next decade (For instance, consider visiting all the countries in Europe).

47. Skill Acquisition : Learn a new skill that you’ve always found interesting, such as playing a musical instrument, coding, painting or scuba diving, by the end of the decade.

48. Fluency in a Foreign Language : Choose a foreign language and attain fluency in it by studying intensively for the next 10 years.

49. Home Ownership : Achieve the dream of owning your own home, defined by your own terms. It doesn’t have to be a mansion; it could be a cozy cabin in the woods or a small city apartment.

50. Book Authorship : Fulfill your dream of writing and publishing a book, whether it’s your life story, a novel, or a non-fiction piece.

51. Physical Fitness : Work towards a specific fitness goal, like running a marathon, achieving a certain body weight, or mastering a tough yoga pose in this 10-year span.

52. Culinary Skills : Become a pro at making your favorite cuisine. Set a goal to learn and perfect 100 recipes within the decade.

53. Learn Survival Skills : Spend the next 10 years learning and practicing survival skills such as building a fire, identifying edible plants, basic medical care, and so forth.

54. Master a Game : Be it chess, poker, or the latest video game, make a personal goal to achieve mastery level over the next decade.

55. High-altitude Trek : Add completing a high-altitude, long-distance trek, like Machu Picchu or Kilimanjaro, to your 10-year vision.

56. Animal Rescue : If you’re an animal lover, aim to organize or participate in rescue missions for abandoned or injured animals.

57. Sustainable Living : Commit to a goal of sustainable living, reducing your carbon footprint by using renewable resources, going vegan or minimizing use of plastics.

58. Tradition Initiation : Begin your own tradition or event, like an annual neighborhood block party or a family gathering on a specific day each year.

59. Docuseries Completion : Choose a genre you love and commit to watch all the classics or critically acclaimed films/series in that genre in a decade.

60. Mindful Living : Incorporate mindfulness into your lifestyle. Commit to meditating daily or practicing mindful exercises to reduce stress and enjoy a mindful life over the next decade.

See Also: Long-Term Personal Goals Examples

Educational Goals

61. Undergraduate Degree: If you have not yet achieved this milestone, set a goal to earn your bachelor’s degree within the next 10 years.

62. Master’s Degree: Consider pursuing a master’s degree that aligns with your career path or personal interest within the next decade.

63. Doctorate Degree: If you aspire to a high level of expertise in a specific field, set a goal to complete a PhD within this 10-year span.

64. Certification Courses: Aim to complete certification courses relevant to your profession or interest. For example, Project Management Professional (PMP) certification for project managers or CompTIA Security+ for IT professionals.

65. Foreign Language Proficiency: Target achieving proficiency in a foreign language through formal education or language immersion programs over the next 10 years.

66. Thought Leadership: Strive to publish research papers or articles in prestigious journals or magazines, contributing new ideas or insights to your field of study.

67. Vocational Training: If academically-focused education isn’t for you, aim to complete vocational or trade school training. This could be anything from HVAC repair to culinary arts.

68. Professional Networking: Utilize educational settings to build a robust network of professionals in your field.

69. Teaching: If you are passionate about your field, consider making an impact by teaching or becoming a guest lecturer at an institution within a decade. (For more, see: goals for teachers ).

70. Continuing Education: Engage in lifelong learning by committing to taking at least one continuing education course every year for the next 10 years. This can range from advanced courses in your field to expanding your repertoire with varied subjects of interest.

71. Study Abroad: Plan for a study abroad program to diversify your educational experience and gain exposure to different cultures, teaching styles , and points of view.

72. Internship or Co-op: Especially for current students or young professionals, aim to secure internships or co-op positions in companies that align with career goals. These ‘real-world’ experiences can be invaluable educational tools (see also: a list of internship goals ).

73. Scholarships or Grants: Strive to earn scholarships or grants, either to ease the financial burden of your education or as recognition of your skill, talents, or academic prowess.

74. Library Exceptionalism: Make regular use of libraries over the next 10 years and try to read a specific number of important books, journals, or papers related to your field.

75. Leadership in School Activities: If you are in a school or college, aim to lead an extracurricular activity or a club in the next decade.

See Also: Long-Term Goals for Students

Business Goals

76. Business Expansion: Grow your business to serve a broader geographic region, such as expanding nationally or internationally within the next decade.

77. Market Domination: Aspire to dominate the market in your industry sector by becoming the top-selling, most recommended, or otherwise highest-rated entity.

78. Unique Offering: Develop or patent a unique product, service or process that sets your business apart from the competition and increases its value proposition.

79. Revenue Increase: Aim to increase your company’s revenue by a specific percentage or amount by the end of the decade.

80. New Venture: If you have an entrepreneurial mind, consider starting a new business aligned with evolving market trends and demands.

81. Customer Service Excellence: Undertake initiatives to improve your business’s customer service, aiming for recognition for excellent customer service in your industry in the next 10 years.

82. Community Involvement: Leverage your business to contribute to your community, like funding local education initiatives or reducing environmental impact.

83. Sustainable Operations : Transform your business to operate sustainably, minimizing its environmental footprint and incorporating green practices into operations.

84. Team Building: Cultivate a talented and committed team that supports your business’s vision and contributes significantly to its growth.

85. Automation of Processes: Implement automation of manual processes using technological advancements, improving productivity and reducing operational costs.

86. Workplace Culture: Create a positive and empowering workplace culture that promotes creativity, inclusivity, and employee satisfaction.

87. Net Worth: Aim to grow your company’s net worth to a specific valuation within a decade.

88. Strategic Partnerships: Build strategic partnerships or alliances with other businesses that can leverage mutual growth and market reach.

89. Industry Authority: Strive to become an authoritative figure in your industry, invited as a speaker for industry events, or contributing to industry trends and regulations.

90. Public Listing: If you own a private company, set the goal of preparing your business for an initial public offering (IPO) on the stock exchange within a decade.

Fitness Goals

91. Weight Management: Aim to reach and maintain your ideal weight within a decade, focusing on a healthy lifestyle rather than short-term diets.

92. Marathon: Train to participate in, and successfully complete, a marathon within the next 10 years.

93. Strength Training: Develop a consistent strength training routine with a goal to be able to lift a specific amount of weight by the end of the decade.

94. Flexibility : Increase your flexibility by incorporating regular yoga or Pilates practice into your fitness routine, with a target to achieve challenging poses in 10 years.

95. Mental Well-being : Integrate mind-body workouts like yoga, tai chi, or mindful walking into your routine for improved mental health.

96. Triathlon: Train to complete a triathlon. This challenging goal requires training in swimming, cycling, and long-distance running.

97. Routine Exercise : Aim to exercise for at least 30 minutes each day, making physical activity a consistent habit over the next decade.

98. Body Fat Percentage: Set a goal to reduce your body fat percentage to a healthy range and maintain it through balanced diet and regular exercise.

99. Health Indicators : Aim to improve your health indicators – blood pressure, cholesterol, blood sugar levels, resting heart rate – to optimal levels within a decade.

100. Sports Proficiency : Choose a sport you enjoy, such as tennis or basketball, and aim to perfect your skills and possibly compete in amateur leagues or tournaments within 10 years.

101. Personal Trainer Certification : If you are passionate about fitness, consider becoming a certified personal trainer within the next decade, helping others achieve their fitness goals while meeting your own.

Make them 10-Year SMART Goals!

Once you’ve selected your 10-year vision from the list above, it’s time to flesh it out by turning it into a SMART goal (Doran, 1981).

This is a framework that helps you refine and fully explain your goal, which research finds makes you more likely to stick to the goal you set and achieve success (Milne, Orbell & Sheeran, 2002).

Here’s what the S.M.A.R.T. acronym stands for:

• Specific: Be specific in order to ensure you are very clear about what success looks like.
• Measurable: Ensure that you can measure progress so you know when you’ve obtained success.
• Achievable: Make sure the goal can be achieved – but remember, for longer-term goals, set your sights high. You can achieve more than you think!
• Relevant: Select goals that are relevant to you, your family, your personality, and your overall life goals .
• Time-Based: Obviously, your end-goal will be a decade from now. But do you have milestones along the way – say, every two years, where you can assess your progress?

To help you to create your SMART Goals, I’ve provided this template that you can save, edit, and print:

Get the Google Docs Template Here

Davis, W. D., Mero, N., & Goodman, J. M. (2007). The interactive effects of goal orientation and accountability on task performance.  Human Performance ,  20 (1), 1-21. doi: https://doi.org/10.1080/08959280709336926

Daw, N. D. (2015). Of goals and habits. Proceedings of the National Academy of Sciences, 112 (45), 13749-13750. doi: https://doi.org/10.1073/pnas.1518488112

Doran, G. T. (1981). There’s a S.M.A.R.T. Way to Write Management’s Goals and Objectives. Journal of Management Studies , 70-75.

Latham G.P., Locke E.A. (2018) Goal Setting Theory. In The SAGE Encyclopedia of Industrial and Organizational Psychology . London: SAGE.

Milne, S., Orbell, S., and Sheeran, P. (2002). Combining Motivational and Volitional Interventions to Promote Exercise Participation: Protection Motivation Theory and Implementation Intentions,  British Journal of Health Psychology,   7 (2): 163–184. Doi:  https://doi.org/10.1348/135910702169420

Chris Drew (PhD)

Dr. Chris Drew is the founder of the Helpful Professor. He holds a PhD in education and has published over 20 articles in scholarly journals. He is the former editor of the Journal of Learning Development in Higher Education. [Image Descriptor: Photo of Chris]

• Chris Drew (PhD) https://helpfulprofessor.com/author/chris-drew-phd/ 5 Top Tips for Succeeding at University
• Chris Drew (PhD) https://helpfulprofessor.com/author/chris-drew-phd/ 50 Durable Goods Examples
• Chris Drew (PhD) https://helpfulprofessor.com/author/chris-drew-phd/ 100 Consumer Goods Examples
• Chris Drew (PhD) https://helpfulprofessor.com/author/chris-drew-phd/ 30 Globalization Pros and Cons

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One-Year, Five-Year, and Ten-Year Goal Examples for Long-Term Goal Planning

Sudarshan Somanathan

Head of Content

April 18, 2024

One-, five-, and ten-year goals are important personal and professional milestones. They help you plan for the future and work toward your aspirations. In your personal life, these goals provide clarity and direction; in your professional life, they guide you toward building your career. 

Goal planning is a great way to set targets for yourself and create a system to reach them. It’s a way to motivate yourself and stay focused on what matters the most. 

With goal planning, you create well-defined metrics that propel you forward, offering a sense of purpose. 

Short- and long-term goals enable you to prioritize tasks, monitor progress, navigate challenges, and keep you motivated throughout your journey.  Thoughtfully structured goals aid decision-making, ultimately leading you toward growth and fulfillment.

In this article, we’ll explain the concept of goal-setting, discuss the differences between short-term and long-term goals, and discuss the relevance of SMART objectives. Finally, we’ll share some 1-year, 5-year, and 10-year goals examples to help you identify your own.

The Concept of Goal Setting

Financial goals, health and fitness goals, personal goals, career goals, educational goals, crafting one, five, and ten-year goals, role of an action plan in achieving goals, tools and resources for goal planning, emotional aspects in goal setting, overcoming obstacles in goal achievement, the benefits and challenges of goal planning, setting goals for remote work, build your future with efficient goal-setting, common faqs.

Goal setting is the deliberate process of defining specific and measurable objectives you wish to achieve within a time frame. This involves identifying the desired outcomes, establishing a plan of action, and tracking progress. 

Your goals may be:

• Short term: Milestones that can be achieved within a year or less as they act as stepping stones toward larger objectives
• Long-term: Goals within a timeframe of five, ten, or more years 
• SMART: ‘ Specific, Measurable, Attainable, Relevant, and Time-bound Goals .’ This framework ensures that your goals are well-defined, achievable, and aligned with your overall vision

You can have different goals with varying time horizons for different areas of your life. 

Goal Categorization

Identify the areas of your life that you want to improve and set goals for each. Here are a few categories to consider:

For financial independence, setting goals to manage debt, create an emergency fund or a college fund, save for a down payment, or build a diversified investment portfolio for passive income can lead to increased financial stability and security. 

By prioritizing financial goals, you can safeguard your assets by strategizing wealth creation, retirement funding, and estate planning.  

Your health goals should focus on enhancing your overall fitness levels. This includes adopting a healthier diet, implementing weight management techniques, or achieving a physical fitness challenge. 

When you prioritize your well-being, you create a sustainable lifestyle for yourself. 

Personal goals are aspirations that are unique to you. Whether you want to travel the world, learn a foreign language, create a personal brand, or volunteer for a cause, setting personal goals allows you to pursue activities that align with your interests and wishes.

These personal project goals help you achieve the work-life balance that is essential for your overall health and wellness. 

Just like personal goals, your professional goals are also unique. These could include working toward a promotion or a dream job, starting a business, moving toward entrepreneurship, transitioning to remote work, or acquiring a new skill relevant to a leadership position in your field. 

These productivity goals help you set achievable benchmarks for gaining employment opportunities and navigating your career path effectively. 

Lifelong learning is key to staying ahead of the curve. By creating goals that focus on education and innovation, you can thrive personally and professionally. 

Your educational SMART goals could include enrolling for further formal education, completing a certification course for skill development, pursuing a higher degree, or mastering a new software program.

Having examined the different categories of goals, let’s now look at the importance of customization in goal-setting. 

There’s no one-size-fits-all approach to goal setting. A personalized approach keeps you motivated and engaged in the process and helps you identify your preferences and capabilities.  

Customized goals are more realistic and attainable as they consider your circumstances and resources. 

Let’s explore some examples!

One-year goals

These are short-term goals that focus on immediate priorities and achievable milestones. Your one-year goals can help you measure progress and celebrate significant achievements more frequently. 

Whether you wish to master a new recipe or save specific amounts of money, these short-term goals will help you focus on what needs to be accomplished soon. 

The easiest way to set short-term goals is by reflecting on your current situation and identifying areas you want to improve or change within the next year. 

Goal-setting strategies for one-year goals include:

• Breaking down large goals into smaller, actionable steps, making your goals seem less daunting
• Creating a clear timeline with deadlines for each step helps you stay motivated and on track

You can use ClickUp’s Personal Development Goal Setting Template to shape your short-term goals. This template will help you develop an action plan to manage your tasks and stay productive.

Some of its best features include:

• The SMART Goals view : Create specific, measurable, attainable, relevant, and time-bound objectives
• The Goal Effort view : Balance resource and effort allocation for each goal 
• The SMART Goal Worksheet view : Break down your goals into actionable steps and track progress
• The Company Goals view: Align your personal goals with company objectives for a win-win at both personal and professional levels
• The Getting Started Guide view : Get valuable insights and tips for effective goal-setting
• Custom statuses : Organize goals into six custom statuses, including Complete, Crushing, Off Track, On Hold, On Track, and To Do, to monitor progress effectively

Five-year goals

These goals should align with your broader life vision and long-term aspirations. The longer time horizon allows for more strategic and ambitious planning.

Assess your values, interests, and priorities to determine your goals in the next five years. You can achieve significant milestones by staying dedicated to your objectives. 

You may aim to travel to several countries, finish writing a book, or launch your own business. Long-term planning will provide you with direction and purpose toward achieving your dreams.  

Popular strategies include:

• Combining long-term vision with short-term action plans. Think about your ideal outcome in five years, then create smaller, achievable goals
• Conducting regular reviews—quarterly or annually—to assess progress and adjust the goals, if needed. You may need to adapt your goals if your circumstances or priorities change
• Breaking down mid-term goals into milestones or checkpoints to track progress and celebrate achievements to get a sense of accomplishment

Does that sound daunting? It needn’t be. You can use the ClickUp Yearly Goals Template to track and manage your progress toward yearly objectives. 

This template will help you:

• Set clear, measurable goals and objectives
• Stay organized and keep track of progress
• Easily adjust timelines and tasks to reach targets

You can start using the template in four quick and easy steps:

• Use a Doc in ClickUp to brainstorm and record your goals
• Break down your goals into manageable tasks for the year with ClickUp Task
• Set deadlines and milestones using Milestones in ClickUp . Track progress and stay focused and motivated to keep working towards your goals
• Use Dashboards in ClickUp to get a quick overview of the progress being made on your goals anywhere and anytime

Ten-year goals

Your decade-long objectives help you envision your long-term aspirations. These goals are focused on your legacy or significant life achievements.

Envision the person you want to become and the impact you want to make over the next decade. You may wish to create a retirement fund, become an industry leader, or become a motivational speaker. 

You should identify the skills, resources, and mindset needed to reach these goals and create a roadmap.

Whatever you aspire to achieve within the next decade, setting realistic metrics and diligently working toward them can increase your chances of success. Revisit and refine these goals every few years to ensure they remain relevant and aligned with your evolving priorities.

Long-term goal-setting strategies include:

• Setting ambitious yet realistic goals that align with your long-term vision. Have a long time frame to set aspirational goals that are grounded in reality and fit with your overall vision for the future
• Seeking guidance from experienced individuals—who’ve achieved similar goals—to mentor you throughout your journey
• Considering potential challenges and developing contingency plans , which help you anticipate potential roadblocks that might come up over the next decade and brainstorm solutions for overcoming them

No matter what your goal horizon is, you’ll need a solid action plan to make progress and achieve the outcomes you want. 

An action plan breaks down your goals into smaller, manageable tasks. It also assigns timelines and identifies resources needed for each step. Think of it as an instruction manual you can use at every step toward achieving your goal. 

Here’s how you can create an action plan:

• Divide your goals into smaller steps , making them less daunting and easier to track
• Assign realistic deadlines for each task to maintain momentum and ensure progress
• Identify the tools, information, or support systems you need to accomplish your tasks
• Block calendar time for working on your goals and prioritizing tasks based on importance and urgency
• Adjust your action plan as circumstances change or obstacles arise, ensuring that you stay focused on your goals while navigating challenges effectively

Suppose you’re working with a team or collaborators. In that case, an action plan ensures everyone is on the same page regarding the goals, tasks, timelines, and individual responsibilities, fostering better coordination and communication.

Creating a comprehensive action plan transforms your goals from abstract ideas into concrete, actionable steps. This structured approach increases your chances of achieving your goals and helps you develop valuable planning, time management, and problem-solving skills along the way.

Technology can be your ally in goal setting. Project management platforms like ClickUp offer a user-friendly interface for creating, organizing, and tracking goals. You can set deadlines, assign priorities, define team goals , break larger goals down into smaller tasks, and monitor progress visually. 

You can also use ClickUp Goals to:

• Create trackable project goals with clear timelines and measurable targets
• Organize goals and objectives with easy-to-use folders
• Schedule tasks within your calendar, ensuring your goals stay integrated with your daily life
• Categorize goals for your team, personal productivity, educational milestones, and more

Your emotional well-being significantly impacts your work-life balance, personal relationships, motivation, and perseverance. Here’s how to keep your emotional compass on track:

• Cultivate a growth mindset: Believe in your ability to learn and grow, and embrace setbacks as opportunities for improvement
• Acknowledge your progress, big or small: This reinforces positive behavior and keeps you motivated
• Be kind to yourself: Don’t get disheartened by setbacks, and don’t let them derail your journey. Learn from them and keep moving forward 

The path to achieving your goals won’t be a straight line. Prepare yourself in advance to encounter roadblocks and challenges, such as

• Procrastination: Develop time management techniques to tackle procrastination, such as timeboxing or the ‘five-minute rule’ (committing to just five minutes of work on a task)
• Fear of failure: Reframe failure as a learning experience and an opportunity to refine your approach
• Lack of motivation: Maintain momentum by focusing on the ‘why’ behind your goals. Connect your goals to your core values and passions

Looking back at the end of the year and wishing you’d accomplished more is a common experience. But with effective goal planning, you can easily overcome that apprehension. 

You chart a course for personal development and success by setting clear aspirations. Goals provide direction and keep you focused on what truly matters. They motivate you to stay committed throughout your journey. 

Ultimately, well-defined goals pave the way for achievement, transforming your desires into successful realities.

But goal planning isn’t without its challenges. Procrastination can set you off course, leaving your goals unaccomplished. Lack of clarity can also make it difficult for you to stay focused on your objectives. 

You can overcome these obstacles with the right goal-setting strategies and ensure your plans translate into action.

Without the structure of a traditional office environment, it’s easy to lose focus or get bogged down by distractions. Setting specific objectives for your time management during remote work helps you stay productive and accountable.

Here is what you can do:

• Factor in personal commitments and desired work hours when setting goals to avoid burnout
• Use the SMART goals framework to craft well-defined goals and derive a sense of direction
• Block dedicated time slots on your calendar to work on specific goals. Prioritize tasks based on importance and urgency to ensure you’re working on the most important things first
• Establish a clean and organized workspace that minimizes distractions, as this helps you stay focused 
• Inform friends or family about your work hours and set boundaries to minimize distractions during dedicated work periods
• Be flexible in your approach, as unexpected situations can hamper your remote work schedule 
• Review your goal progress regularly. Don’t feel afraid to adjust your goals to keep them relevant and challenging
• Use ClickUp’s Project Management tool to stay on track

Setting one-, five–, and ten-year goals enables you to chart a well-defined course towards a fulfilling future. Remember, the journey itself is a transformative experience. 

Make the best use of the tools and strategies outlined in this guide. Even when faced with challenges, remind yourself of the long-term objectives and that your long-term aspirations will fructify with proper planning of your short-term aspirations. 

You can start by using the ClickUp platform to streamline your goal organization. With its diverse functionalities and templates, ClickUp can support you in staying committed to achieving your goals, even in the face of challenges. 

Sign up to ClickUp today and accomplish your goals with confidence and clarity!

1. What is an example of a 5-year goal plan?

This 5-year goal plan example highlights a focus on both career advancement and personal growth:

• Career : Take online courses or network with industry professionals
• Personal : Join a gym or fitness class, learn a new language, or read two non-fiction books every quarter
• Career : Aim to achieve a promotion to a managerial position or strive to achieve a better work-life balance  
• Personal : Travel to a new country, take a weekend hobby course, or start a gratitude journal
• Career : Pursue an advanced education course or host industry conferences or workshops on the latest trends and innovations
• Personal : Set a goal to achieve a specific fitness goal or create strategies to achieve financial stability 
• Career : Become a subject matter expert or a thought leader to share your knowledge and experience
• Personal : Save up for a larger purchase you’ve been planning, such as buying a car or a house
• Career : Solidify your position as a valuable asset within your company or launch your business venture if entrepreneurship is your long-term goal
• Personal : Plan a dream vacation to a country you’ve always wanted to visit or develop a strong network of personal connections who support you

2. What is a 10-year goal?

A 10-year goal is a long-term objective you aim to achieve within a decade. It represents your long-term aspirations and guides your decision-making. 

Here are some examples of 10-year goals across various categories:

• Financial : Become financially independent and retire early
• Health : Prepare for a long marathon by achieving optimal physical fitness
• Career : Become a partner at your current firm or launch a successful startup
• Education : Earn a PhD in your field of interest and become a leading researcher

Personal : Travel to all seven continents and experience diverse cultures

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Politics latest: Fresh bid launched to get rid of Humza Yousaf as he battles to stay on as Scotland's first minister

Scotland's first minister Humza Yousaf has cancelled a planned speech as he fights to stay in his job; listen to the latest Electoral Dysfunction podcast while you scroll.

Friday 26 April 2024 10:15, UK

• Scottish Labour to lay down motion of no confidence in government as fresh bid to get rid of Yousaf launched
• First minister cancels speech as he fights for his future
• Sky News was told last night he will not be resigning
• Connor Gillies: The optics are tricky for Yousaf
• Rwanda bill causing migrants to head for Ireland, country's deputy PM says
• 'When they start caring about us, maybe we'll care back': Politics Hub special explores breakdown in trust between voters and politicians
• Serena Barker-Singh:  Stark and bleak view from Target Towns voters
• Latest  Electoral Dysfunction podcast explores what the local elections will bring
• Live reporting by Charlotte Chelsom-Pill

Scotland's Labour leader Anas Sarwar is to lay a motion of no confidence in the Scottish government later today, Sky News understands.

This would be separate to the existing no-confidence motion which is in Humza Yousaf as leader.

A motion of no confidence in the first minister himself would not compel him to resign. 

However, if there is a vote of no-confidence in the government he would be forced to step down.

Labour's rail plan is a landmark moment.

Unlike many aspects of the party's policy offers to date, it is detailed, comes with a blueprint for what will happen on day one, and Whitehall will understand how to implement it.

It is, after all, winding back the clock.

Even the rail companies themselves say change to the train network is needed - though they inevitably don't like this version of their future - and it is not without controversy.

But the row is a fight Labour want to have.

After months of a pro-business love-in from Rachel Reeves and the Labour leadership, it is the single most concrete measure worrying business so far, according to figures from FTSE 100 firms I talked to this week.

They are watching closely to see whether the tendency to squeeze and bash business, evident under ex-leader Jeremy Corbyn, remains in the party's DNA, even if it is well hidden.

Sir Keir Starmer's plan allows the railway companies to come back into public ownership within five years.

But will it leave the railways better off?

Read the full analysis here:

Labour have promised to renationalise nearly all passenger railways within their first term if they win the next election.

On the Sky News Daily, Niall Paterson speaks to Sky's political correspondent Sam Coates to discuss the actualities of Labour's plan and assess if a Great British Railway would be more efficient and cost-effective than the current privatised system.

Paterson also speaks to the editor of Rail magazine, Nigel Harris, to discuss the current state of our railways and what he believes needs to change.

Elsewhere in politics, the Scottish government has ended its power-sharing agreement with the Greens.

Sky's Scotland correspondent Connor Gillies discusses the implications of this for both parties – including a motion of no confidence in First Minister Humza Yousaf. 

The Scottish MSP who may well have the deciding vote in a motion of no confidence in the first minister says she has written to him requesting a "reset". 

But she says she remains "open to any discussion".

Ash Regan, once a rival to Humza Yousaf for SNP leader, defected to Alex Salmond's Alba Party last year.

With the SNP now a minority administration and the rest of the opposition confirming they are plotting to oust the beleaguered first minister, Sky's  Scotland correspondent Connor Gillies says  Ms Regan finds herself as possibly the most powerful woman in Scotland.

In a post on X, Ms Regan said: "I have written to Humza Yousaf this morning requesting a reset, and a return to competent government, where we prioritise independence and protect the dignity, safety and rights of women and children. 

"I remain open to any discussion where we progress the priorities of the people of Scotland."

You can read more from Connor's analysis on Ash Regan here:

The optics are "tricky" for Scotland's first minister as he cancels a major event while embroiled in a fight for his political future, Sky's  Scotland correspondent Connor Gillies says .

Humza Yousaf has cancelled a speech he was due to deliver on independence in Glasgow this lunchtime ( see previous post ).

Connor says it has been an "incredibly troubling time" for Mr Yousaf after the Scottish Greens said they would join opposition parties in backing a no-confidence motion in him next week ( see post at 6.30am ).  

It comes after Mr Yousaf ended a power-sharing agreement with the Greens yesterday in a move Connor says "backfired, potentially sensationally".

"No one predicted what would happen in the last 24 hours," Connor says. 

"What will happen in the coming 48 hours? Who knows..."

Scotland's First Minister Humza Yousaf is to cancel a speech he was due to deliver on independence in Glasgow this lunchtime, Sky News understands.

The first minister's future is in the balance after the Scottish Greens said they will join other opposition parties in backing a motion of no confidence in him next week ( see that post at 6.30am ). 

However, he will not be resigning today, Sky News understands.

A source close to Mr Yousaf told  Scotland correspondent Connor Gillies  last night that he will not be quitting and is "coming out fighting" ( see post at 8.38am ).

The government "wants the credit" for falling inflation, but "didn't want to take the blame" for rising inflation, Labour's shadow business and trade secretary tells Sky News

"I think that inconsistency is fair to point out," Jonathan Reynolds says. 

He was responding to a question on whether, when blaming the government for rising costs of energy, food and fuel, his party can really say it wouldn't have been the same under a Labour government. 

He says Labour would look at why inflation was higher in the UK than in comparable countries and what it can change in future. 

He says the UK's "very significant exposure to fossil fuels, particularly gas prices," was partly to blame.

"That's why Labour's plan is for that sprint to clean, renewable energy and more nuclear energy to make sure we are never as exposed as that again."

People in Scotland "need change", shadow business and trade secretary Jonathan Reynolds tells Sky News, after Scottish Labour said they will back a motion of no confidence in First Minister Humza Yousaf. 

"It really does take something to make the Conservative group in Westminster look stable and organised, but the SNP have managed to provide that," he says. 

He says when he is in Scotland people tell him "they don't have one failing government, they've got two".

" They desperately want governments in both jurisdictions working together in a way which is about tackling the real problems people face," he says. 

He was responding to a question on whether Labour in Scotland were "putting party above country" by backing the tabled no-confidence motion and calling for new elections in Scotland.  

He says people across the UK are facing a choice between a "changed Labour Party focusing on growing the economy, or more chaos is under the Conservative Party across the UK or the SNP in Scotland".

"People want a chance ....  to have their say on those things," he says.

"The sooner they get it across all of the UK, but particularly in Scotland, the better it will be."

Mr Yousaf's political future hangs in the balance as the Scottish Greens, Labour and Lib Dems all say they will back the motion put forward by the Conservatives ( see post at 6.30am ). 

However, Sky News understands the first minister will not be resigning today ( see post at 8.38am ).

Scottish First Minister Humza Yousaf will not be resigning today, Sky News understands.

A source close to Mr Yousaf told Scotland correspondent Connor Gillies last night that he will not be quitting and is "coming out fighting".

It comes after speculation late last night that he could on the verge of going.

Connor says it is unclear though whether a speech on independence will go ahead as planned later.

Mr Yousaf is facing a political crisis after the Scottish Greens said they would vote against him in a motion of no confidence.

The first minister had decided to bring the power-sharing deal between his party the SNP and the Scottish Greens to an end this morning, sparking the dramatic row.

The government's Rwanda bill "can't be justified," the shadow business and trade secretary tells Sky News as he is asked whether Labour would still scrap the scheme if it is shown to be effective. 

Jonathan Reynolds says he "strongly disagrees" that the law is already acting as a deterrent after Ireland's deputy prime minister said the threat of deportation to Rwanda is causing migrants to head for Ireland instead of the UK ( see post at 7.10am ).

"This is not really a deterrent, this is all about politics," Mr Reynolds says.

"We don't think the scheme can be justified. We don't think it can be justified on cost. We don't think it is effective. 

"We think there are proper, serious things you can do with that resource that would make a real impact on the problem of illegal migration."

He adds: "Just look at how this affects the perception of Britain around the world as well - a huge cost to our reputation as a serious country.

"So no, I'm afraid I cannot justify the Rwanda scheme at all in any way."

The controversial Safety of Rwanda Bill, which declares the African nation a safe country to deport asylum seekers to, became law yesterday after it was passed by parliament earlier this week. 

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