Money 

Matters

Skip to main content
Home
HOME
SPENDING PLAN
SAVE & INVEST
CREDIT & DEBT
PLANNING FOR COLLEGE
ENTREPRENEURSHIP
GAMES & TOOLS
test
Skip navigation links
Working For Yourself
It's Your Business
Make a Business Plan
A Business Budget
Business Budgeting
Business Risk
College Checklist > Scholarship Worksheet > Financial Aid Checklist > GAMES & TOOLS > My Business Plan

My Business Plan 
Entrepreneurship 

Even if you don't have THE big idea for a business right now, it might be fun to create a business plan for a fantasy business. Whether you have a concrete idea or just want to see how a business plan works, be as specific as you can when you answer each question. If you want to borrow money to get started from friends and family, you should have your plan ready to show them.

Every successful company has a business plan. Most of them are revised and updated regularly.


MY BUSINESS PLAN
What is the business you want to start?

(Be specific about the product or service you will offer and the clients you are targeting.)
What are your goals for the business? (Consider both your short-term goals, for the next year or so, and your longer-term expectations.)
What skills do you need to be successful? (Think about the personal as well as technical and management skills your particular business requires.)
Who is your target audience?

(Include the advantages you will have over local competitors.)
Who will your major competition be?

(Some businesses must compete for clients. Others have little or no competition when they start.)
Where will it be located?

(Will your business be in your home or in another location?)
When will your business begin to operate?

(Explain why you´ve chosen that date.)
What kinds of employees will you need? What skills should they have?

(Most entrepreneurs need employees who are skilled in areas where they themselves are not.)
What are your estimated earnings for the first year, five years, 10 years?

(Provide estimates and explain where the numbers come from.)
What are your start-up costs, where will the money come from, and what will your ongoing costs be?

(Provide dollar amounts and the specific sources that will make up the total in each of these areas.)

Print Business Plan

Back to Make a Business Plan

Name, Please

Don´t forget that your business needs a name. Finding the right one isn´t as easy as you might think. But the right name can make a real impact.