You can find a variety of business plan templates on the Internet. If you’re planning to start a business, or if you’re just learning how to write a business plan, a template can be a useful—but not complete—checklist. If it’s in the template but not in your plan, you should know why.
But it’s generally not a good idea to rely on a template. First, your business is, or will be, unique—a “one size fits all” cookie-cutter template won’t display the strength of your ideas to best advantage. Second, a template encourages a “fill in the blanks” mentality. There are many things, including concrete numbers and conservative projections, that should be part of small business plans, but no template will include them all.
Third, and most important, a template treats the business plan as a “do-it-yourself” project—and no business plan should ever be DIY! Before you run your business plan past a banker, make sure that it’s been looked at by someone who’ll give you an objective, no-holds-barred opinion—preferably someone who knows their way around a business plan! An experienced consultant like Ron Sturgeon, Mr. Mission Possible, can quickly show you what works and what doesn’t before you walk into the bank! Ron covers this subject in his peer benchmarking groups, in consulting assignments, and as a frequent speaking topic.