Too many business owners skip writing a business plan or create one only to never look at it again.
But a business plan isn’t just a box-ticking exercise — it’s a tool to guide your business forward and help others understand how it operates if you ever need to step away.
Whether it’s a side hustle or a major venture, every business needs a plan. Here’s what yours should include:
Table of Contents
1. Describe Your Products or Services and Target Audience
What exactly are you offering, and who are you offering it to? Clarify whether you’re selling to businesses or consumers, and whether your offering appeals to a niche group or has broad market potential.
2. Competitor Analysis
How much of your target market is already being served by competitors? What will it take to win them over? A clear understanding of the competitive landscape helps you refine your offer and positioning.
3. Marketing Strategies
Outline how you plan to attract customers. Will you rely on digital ads, social media, email marketing, events, or referrals? Be specific about the tactics and platforms you’ll use to build awareness and generate leads.
4. Sales
How will your product or service be sold? Will customers purchase online, or will face-to-face interactions be required? Identify your sales channels and the role you or others will play in the process.
5. Budget and Expenses
In this section, map out your expected financials. Think about:
- Your revenue and profit goals
- Your break-even point
- Start-up and setup costs
- Ongoing operational expenses
- Insurance and compliance costs
- Contractor and supplier fees
Planning for these upfront helps reduce surprises and gives you a clearer path to sustainability.
6. Human Resources
Who will be responsible for running the business? Start by listing the roles you’ll fill yourself, and which roles (like bookkeeping or IT) you plan to outsource. Thinking this through early helps you plan your resourcing and budget effectively.
7. Key Milestones
Set realistic goals for customer acquisition, revenue, hiring, or expansion over the next 6 to 12 months. These benchmarks help you track progress and stay accountable as your business grows and evolves.
Additional Inclusions to Strengthen Your Business Plan
Executive Summary & Appendix
Summarise the key points of your plan at the top, and add supporting notes or data at the end — this helps keep your plan concise and easy to reference.
SWOT Analysis
List your Strengths, Weaknesses, Opportunities, and Threats. This is a quick way to understand where your business stands and where to focus your energy.
Vision, Mission & Values
Even a short outline of what your business stands for and why it exists can keep you aligned and build stronger connections with your team and customers.
Keep Your Plan Visible and Up to Date
Your business plan shouldn’t live in a drawer. Share it with your team or business partner and keep it somewhere visible. Reviewing it regularly — especially around the end of the financial year — helps you stay focused and adjust based on what’s changed.
Need Help Writing or Reviewing Your Business Plan?
It’s easy to have a clear idea in your head, but harder to get it down on paper. If you want an outside perspective, a small business accountant can help you put together a solid plan and flag things you might not have considered.
Ready to build a business plan that works? Book a free 45-minute call with a small business accountant from JVP Advisory today.
