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Write a clear two-page executive summary. Emphasize the customer need or problem you are satisfying. Understand your own strengths, skills, and time available. Spell out the business model. Include a believable sales forecast.

A business plan is a way to demonstrate that you know what you are doing and that investors will get a return on their investment. However lost of people who start their own business don't need funding. If that's you, then you still need a business plan but you need a business plan for you and not for the bank.

Executive summary. Business description. Market strategies. Competitive analysis. Design and development plan. Operations and management plan. Financial factors.

A business plan is a useful document for any small business owner.Going back to the original question of whether or not you really need a business plan, you may still be able to build a successful business without a plan, but it is most certainly easier to do with a well-constructed business plan in your hands.

Business plans should be reviewed and possibly updated at least once a year, especially for younger companies. Updating your business plan is more focused and fun than the writing the original one. Involve staff in the updating process. It is never too late to create a business plan.

We found that on average, the most successful entrepreneurs were those that wrote their business plan between six and 12 months after deciding to start a business. Writing a plan in this timeframe increased the probability of venture viability success by 8%.

A professional business plan consultant will generally charge between $5,000 and $20,000 for a complete business plan (although there are cases where $50,000 is justified). The low end applies for simple businesses such as a pizza shop, a small retail store, a hairdressing salon, etc.