Business Plan
A Business Plan is the perfect tool to give you the direction you need when starting a business.
4.7 (23 reviews)
Last updated January 13, 2025
Under 20 minutes
Suitable for Australia
Written by
Edwin Montoya Zorrilla
Reviewed by
Damin Murdock
Document Overview
A business plan is an important tool for understanding how each element of your business will work together to make it a success. You can use it to monitor progress, hold yourself accountable and control the businesses’ financials. Additionally, it’s a great sales and recruiting tool for courting key employees and future investors. These days venture capital firms, banks and Investors insist that you have a business plan in place before they invest.
The Legal Risk Score of a Business Plan Template
Our legal team have marked this document as low risk considering:
- The document outlines various business goals and objectives without specifying measurable outcomes or detailed timelines, which could lead to ambiguity in tracking business progress and accountability.
- The risk management strategies are briefly mentioned with minimal details on implementation, which might not sufficiently prepare the business for potential challenges.
Business Plan Checklist
Complete your free Business Plan with our checklist
Review and Update Regularly
Ensure the business plan is reviewed and updated periodically to reflect changes in the market, business goals, and operational strategies.
Implement Risk Management Strategies
Actively implement and monitor the risk management strategies outlined in the "Risk and Compliance" section to mitigate potential business challenges.
Engage Key Personnel
Involve key personnel in discussions and updates related to the business plan to ensure alignment and commitment across the organization.
Consult Legal and Financial Experts
Seek advice from legal and financial experts to ensure all regulatory, compliance, and financial forecasting aspects of the business plan are accurate and feasible.
Use this Business Plan if:
- You’re starting a business and want a blueprint for success, in line with your goals and vision;
- You need an organised way to share your business objectives with investors, lenders or other third parties;
- You already have a business and need to pause, reflect and re-align your goals.
What does the Business Plan cover?
- Business Overview
- Products / Services
- Structures and resources
- Business management and operations
- Market analysis and strategy
- Financial analysis
Other names for Business Plan include:
- Business Proposal
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