Business Plans

What Makes a Good Business Plan?

A good business plan is more than a document — it’s a working guide and overview of your business structure, your goals, and how you intend to reach them. Whether you need the basics covered or a detailed information-rich document for investors, a successful business plan should give clear basic information on your company and set out a realistic path to profitability.

Business Plan Template and Free Templates for Every Business

Not every business needs to start from scratch. A business plan template — or a free business plan template — gives you a proven strategy and structure to work from. We offer a range of templates, from a simple, single page business plan through to a comprehensive document covering every section in detail. Think of it as a free tool to save you time while still producing an effective business plan.

Traditional Business Plan vs Lean Startup Business Plan

There are two common approaches to business planning. A traditional business plan is a detailed, multi-section document ideal for established business owners seeking finance or investment. A lean startup business plan — built around lean startup principles — is a shorter, more flexible format suited to entrepreneurs testing a new business idea quickly before committing to a full plan.

Key Sections of an Effective Business Plan

Every effective business plan generally includes:

• An executive summary and company description outlining your business and its objectives
• A market analysis and market research section covering your industry, competitors, and other businesses in your market
• Details of your products and services, including any research and development underway
• A marketing plan, marketing strategy, and marketing and sales approach, including your specific sales strategies and customer segments
• An organization and management overview of your team and structure
• Financial plans, financial forecasts, financial performance, and other financial information, including a profit and loss statement and expected revenue streams

Marketing Plan, Customers and Market Analysis

A strong marketing plan puts your customers first. Understanding who they are, what they need, and how you’ll reach them through market analysis and ongoing market research helps shape a marketing strategy that actually converts, and keeps your business relevant as the market evolves.

Cash Flow, Finances and Financial Forecasts

Cash flow is one of the most important numbers in any business plan. Alongside your broader finances, your financial forecasts and financial performance projections help you and any lender understand your business’s profitability and plan for risk management along the way.

A Step-by-Step Guide for Entrepreneurs

Our step guide to business planning breaks the process down into manageable steps, with practical tips along the way for both new entrepreneurs and existing business owners. Once your plan is ready, you can print it, share it with partners or lenders, or simply email it through for review — whatever suits how you like to work. A well-prepared plan can also help you manage your money with more confidence as your business grows.

Trusted Melbourne Business Advisors

Our dedicated and knowledgeable business advisors will help you develop the best possible business plan, which includes identifying your business’s goals, strengths, and weaknesses in order to improve operations and maximise your business’s potential. Our team is on hand to offer practical advice at every stage of the process.

Why a Solid Business Plan Sets Up Your Success

A good business plan — whether a traditional business plan or a lean startup business plan — brings together your executive summary, company description, market analysis, marketing plan, marketing strategy, financial plans, and cash flow projections into one clear roadmap. Getting the basics right early, from customer segments to revenue streams, gives every entrepreneur and business owner a genuine path to profitability and long-term success.

Whether you’re refining your business structure, testing a new business idea, or growing an established business, our step guide to business planning covers the steps, tips, and detail you need — from basic information through to detailed information on financial forecasts, financial performance, and your profit and loss statement. Once your plan is ready, print it, share it, or email it to your advisors, your bank, or your investors.

Contact us here to arrange a consultation with our business advisors.

Frequently Asked Questions About Business Plan Templates

What Should a Business Plan Template Include?

A good business plan template should cover your executive summary, company description, products and services, market analysis, marketing plan, organization and management, and financial plans, including cash flow and financial forecasts. Many entrepreneurs start with a free business plan template before customising it to their own business idea.

Lean Startup vs Traditional Business Plan: Which Should You Use?

A lean startup approach suits a new small business testing an idea quickly, while a traditional business plan suits an established business seeking finance. Either way, understanding your customers, your market, and your business goals is essential to a successful business plan.

How Do Cash Flow and Finances Affect My Plan?

Cash flow and broader finances shape almost every decision in your plan, from pricing to revenue streams. Tracking your financial performance against your financial information and profit and loss statement helps you stay on top of profitability as your business grows.

Tips for a Successful Business Plan Template

Whether you’re using a free business plan template, a full traditional business plan, or a lean startup business plan, keep these tips in mind:

• Start with a clear executive summary and company description so anyone reading your business plan understands your business idea straight away
• Back up your marketing plan and marketing strategy with real market research and market analysis, not guesswork
• Define your customer segments and products and services clearly, and explain your marketing and sales and sales strategies
• Set out your objectives, your business goals, and a simple organization and management structure
• Include realistic financial plans, cash flow, financial forecasts, and a profit and loss statement — this is where many other businesses fall short
• Keep basic information at the front and detailed information further into the document, so both a quick overview and a deep detail are available

Business Plan Templates and Resources for Every Business Owner

Our business plan templates are designed as a genuine free tool for every business owner, from entrepreneurs launching a new business idea to an established business refining its business model. Combined with research and development, sound risk management, and the right business structure, a good plan gives you the roadmap you need for success.