A business plan is a must-have for any successful business. Yet, many business owners either avoid writing one or believe they don’t need it. Some think it’s a waste of time, while others find the idea of planning too far in advance overwhelming.
The good news? Business planning doesn’t have to be complicated. I have a simple and effective tool that can help: the Business Model Canvas—a one-page PDF with nine sections. If you can answer each section, you’ll have a working business plan.
The Simplicity of the Business Model Canvas
Yes, it can be that simple! The Business Model Canvas allows you to outline the key elements of your business without getting lost in excessive details. It helps you determine if you have a viable product or service and gives you a clear roadmap to get started—arguably the most important thing when launching a business.
When You Need a Traditional Business Plan
If you’re seeking funding or applying for a business loan, you will likely need a standard business plan template. This includes additional sections that aren’t part of the Business Model Canvas, such as:
- Financial Projections
- SWOT Analysis
- Competitor Analysis
- Executive Summary
But don’t worry! If you’ve already completed the Business Model Canvas, much of that information can easily be transferred into a traditional business plan.
Get Started Today
Don’t let business planning hold you back. The Business Model Canvas is a great starting point to clarify your vision, map out your strategy, and take action.
Click the link below to view, download, or save the file to your desktop. My template defines each section and provides examples to make the process easy to understand.
Start today and set your business up for success!
Are you finding the tips helpful? Click the link to support the blog and keep helpful content coming your way.
What's Trending Sage 