Blog

What is a startup business plan?

startup business plan
Business

What is a startup business plan?

Startup business plan

You may have heard the word business plan many times, especially if you have searched about how to start a business! You may have seen that a business plan is a term that many people who are willing to start a business talk about it and consider it as one of the significant steps of starting a business. In fact, many people also write a business plan for their startup too but the question is what is a startup business plan and its goal? Do we really need to spend a lot of time writing a business plan to start a startup? In response, I must say that in the path of entrepreneurship, one of the most important steps is to write a business plan, which is necessary to provide the capital needed by the company and move the business towards progress and success. As a member of the team of UniqMaster, an e-learning platform, I will first describe the startup business plan and its goal and then you will learn how to write one! 

Table of contents


What is a Startup Business Plan?
  • What is the purpose of a startup business plan?
    • Different aspects of a business plan goal
  • What is the structure of a startup business plan?
How to write a business plan?
  • What are the elements of a startup business plan?
    • The main elements of the startup business plan
  • Steps of writing a business plan!
Blog at a glance

What is a Startup Business Plan?

<img class="aligncenter wp-image-8312 size-full" title="Illustration by Olha Khomich from Ouch!” src=”https://uniqmaster.com/wp-content/uploads/2021/07/3d-flame-285.png” alt=”startup business plan” width=”500″ height=”500″>
To better understand what a startup business plan is, it is important to know the definition of a business plan itself. A business plan is a 10-100 pages document that contains brief information about a company and its short to long-term goals as well as explanations on how and when to reach those goals. In other words, a business plan is a complete blueprint of the nature of our business and our future plans for the company, usually written for 1-5 years. The industry in which the company operates, its target market and competitors are among the important points that are considered to be written in plans. Items such as business vision and mission, financial reviews, company’s growth and development, sales, marketing, as well as operating plans in general are some of the information that is included in a business plan. A startup business plan follows the same rules as a business plan for other types of businesses as it is written with a single structure and a specific purpose for different types of businesses. But what are the purpose and main structure of a business plan?

What is the purpose of a startup business plan?

Imagine that you are thinking of your future and planning out some goals in your mind, what would you do here? Most probably you’ll write them down in a notebook or somewhere where you can reach them later and review them! Writing the goals down makes it easier for you to remember them, review the path you have taken to obtain them as well as checking out your progression milestone for attaining them! Having a business plan is exactly the same, except that the plan is for a business. In general, if we want to know what the purpose of building a startup business plan is, we come to a single answer, and that is a comprehensive overview of our business and its goals and strategies. Another thing that is needed to be considered about the goal of a startup business plan is that the goals have different aspects and each aspect follows a different goal. To better understand, read about the different aspects of the business plan’s goals in the following.
Different aspects of a business plan goal
  • To attract investor(s), one of the reasons for making a startup business plan is to present it to potential investors to attract them. The business plan sample provided to them will make these people familiar with our company, our plans, and strategies in general in order to make them interested in investing in our startup. 
  • To guide the founders and managers, as you have read so far, a startup business plan is like a roadmap that outlines the 1, 3, or 5 year status of the business. This makes business owners and managers be aware of the work process and progresses. The plan also guides them about the company’s achievements and obtained goals.
  • To guide employees, another significant function of the startup business plan is to guide employees. Because the plan contains the mission and goals of the firm as well as the strategies needed for obtaining them, therefore it can act as a roadmap for managers and leaders in order to guide employees to push the company to attain its goals.

What is the structure of a startup business plan?

<img class="aligncenter wp-image-8313 size-full" title="Illustration by Icons 8 from Ouch!” src=”https://uniqmaster.com/wp-content/uploads/2021/07/3d-flame-109.png” alt=”startup business plan” width=”500″ height=”478″>
To have a better understanding of the structure of a startup business plan, we need to be familiar with the business plan framework. A business plan is written between 10 to 100 pages, depending on the type of business, industry, market, as well as other points in general, and it usually begins with a comprehensive and useful summary of the business. In a plan, most of the concepts are conveyed to the audience through writing, so they are full of written content, although some images, tables, statistics, and figures are used along with it, with a less proportion to text.

How to write a business plan?

In order to know how to write a business plan, in addition to its goals and structure, we need to know what are the elements of a startup business plan. Just like the structure and the goal of a plan, its elements are also similar for different types of businesses.

What are the elements of a startup business plan?

A startup business plan can contain a lot of information that can vary from one plan to another. However, there are a number of key elements that are important to have in any business plan. These elements are in fact the main pillars of the business plan building. But what are those key elements? 
The main elements of the startup business plan
  • A general summary of the business plan
  • Business description
  • Market research
  • The management structure of the organization
  • Sales strategies
  • Funding
  • Financial forecasts
Did you know?
Entrepreneurs planning for their business idea are 152% more likely to start their own business and 129% more likely to lead their startup to growth and progress.

Steps of writing a business plan!

By having a startup business plan we are not only able to make investors interested in investing in our company but we will be able to use it as a roadmap both for checking the company’s progress to each goal as well as using it to guide the employees toward our business milestones! Therefore, learning about how to write a business plan can be useful for us, especially in the early days of starting our business. In the following, I have provided practical guides about the steps of writing a business plan. Once we are familiar with the purpose, structure, and core elements of a business plan, we can have a better understanding of how to write a startup business plan. The steps for writing a business plan are:
<img class="aligncenter wp-image-8314 size-full" title="Illustration by Olha Khomich from Ouch!” src=”https://uniqmaster.com/wp-content/uploads/2021/07/3d-flame-done.png” alt=”startup business plan” width=”500″ height=”500″>
1- A General Summary of the Plan, This is the first part of a business plan that is usually written after the entire section has been written and is placed at the beginning of the plan. This section gives a brief overview of all the information in the business plan. In this section, be sure to try to write all the key points of the plan. This is actually the part that can get the audience interested in your business or vice versa (this is important for the time you are presenting it to investors).
2- Business Description, This section is placed after the general summary of the startup business plan. In this section, you introduce your business and describe things like the business name, established date, structure, location, the mission of the organization, and the competitive advantage. In fact, this is the part where the audience gets fully acquainted with your company, so you need to write down important information about your startup in this part.
3- Market Analysis, In this section your target market and everything about your market will be described. Here you should provide clear information about your target market, including details of the target audience, an in-depth description of the market segment, and a complete summary of your market growth plans.
4- The Management Structure, One of the most important members of any organization is their managers. It is their skills and experiences that lead the whole team and give the organization the right direction. In this part of the startup business plan, you will introduce the company’s managers and provide information such as the main managers and their experiences, their responsibilities and duties, and their salaries, along with some other important points about them. 
5- Sales Strategies, Here you should clearly describe the ways you supply and methods and strategies you will use for your sales. Remarkable points in this section are your pricing, the way your business brings in profit, methods and location of selling, marketing strategies, etc.
6- Budget, This part of the plan is actually asking for the required amount from potential investors. In this section, items for which capital is required, the required time for each activity, profit margin, required capital are mentioned along with other related points. The clearer and more complete the information, the more likely investors will invest in your startup.
7- Financial Forecasts, after requesting the required amount from investors in the previous part of the startup business plan, you will explain your plans on the growth of the capital. This is usually the last section of a business plan, which contains information about the growth of revenue, the profitability of the business, the cash flow of the business, the specified time for paying dividends, etc. In other words, the outcome of the business is written in this part.

Blog at a glance

Having a business plan can be useful for any kind of business especially startups as they go along a path with so many risks and unknowns. A plan allows you to raise capital for your business as well as helping you to identify the missions and goals of your company and it also enables you to move your business in the right way to obtain those goals. For starting a startup, we need to know what a startup business plan is, what are its goals and structure, and what are the elements for it. After reading about how to write a business plan, if you wanted to learn more about the details of a business plan and the skills to write an effective plan you can participate in the courses related to starting a startup here at UniqMaster!

Leave your thought here

Your email address will not be published. Required fields are marked *

Select the fields to be shown. Others will be hidden. Drag and drop to rearrange the order.
  • Image
  • SKU
  • Rating
  • Price
  • Stock
  • Availability
  • Add to cart
  • Description
  • Content
  • Weight
  • Dimensions
  • Additional information
  • Attributes
  • Custom attributes
  • Custom fields
Click outside to hide the compare bar
Compare