5 year business plan template
Are you an entrepreneur looking to download a free business plan? If so, you have come to the right place. Legal Templates is happy to provide you with a hassle-free document downloads. Click the links below to download 1 a blank document, and 2 a document that is filled in for you to reference. Download blank Business Plan template Word. Download a Business Plan with sample text Word.
Free Business Plan Template
Your Year Strategic Plan can be viewed as a base camp on the way to the summit of your long term goal. This can be used as a tool to align your company around a common purpose and closes the strategy execution gap. Typically, you will determine your year strategic business plan as part of your Annual Planning session , which will include your goals and objective for the year as well as outlining opportunities and threats facing your company. We also have a great blog post on how to facilitate a strategic planning session to get the return on investment from your planning session.
We also have a great virtual strategic planning post that provides great tips on running a virtual planning session. Examples of the types of Targets and KPI dashboards you will want to consider include the following:. You can add or subtract from this list to include the Targets that are most meaningful to your business. The one Target that should apply for all businesses is Revenue. We challenge you to set a Revenue Target that will allow you to 2X your business over the next years.
Be sure to include the year you that believe you will hit those Revenue Targets so that you can hold each other accountable. Strong 3 year strategic plans help you grow revenue and stay competitive and not caught up in the short term day to day management of your company.
Download our 3 year strategic growth initiatives template. Winning Moves are strategic growth initiatives and actions that enable you to double your revenue 2x within years.
It is this business strategy that sets you apart from the competition. These are usually operational in nature or related to your infrastructure and help you while scaling up. You cannot grow your business by cutting costs. It is important to have clear Winning Moves in order to better focus your team on revenue growth to help grow the top line.
Conversely, lack of Winning Moves is the leading indicator that you will hit the growth ceiling and stall. You cannot cut costs to get growth. Start by brainstorming a comprehensive list of at least 20 potential ways your team can think of to increase revenue.
Some ideas to jump-start the revenue brainstorming process are the following:. Have the team consider each idea and vote on the top three they recommend investing time and energy in considering. Choose the top ideas with the most votes. Evaluate and rank each of the top ideas based on two scales, Revenue Impact, and Ease. Decide what to say yes to and what to say no to. Classify each idea:.
These are the steps to identify the Winning Moves you want to include in your year plan. Now you're ready to begin the process of developing and implementing them. Name each winning move idea uniquely in order to communicate the idea clearly with your team. Naming your winning move should intensify team focus and sell the idea internally and externally. Make sure that all team members are aware of the 3-year strategic plan name, how it fits into the overall company strategy and their role in delivering it.
This is often referred to as your target market. Winning Moves must bring you revenue growth. What is your revenue projection for the next three to five years? What are your financial projections? What products and services does your target market need from you and how much revenue can you generate from it?
Identify the assumptions leading you to believe the Revenue Impact and Ease rankings are accurate. Have the team document up to 5 assumptions they are making on each idea, then allow time to use data and experience to test those assumptions.
This process aids to develop Winning Moves based on facts instead of emotion. You need to visit these assumptions at least every 90 days and make adjustments as needed. Strategy planning is a continuous process, not an event so make sure that you continue to put in the work.
Record the change or adjustment to make based on the real-world insights and learnings based on your key performance indicators KPIs associated with your 3-year strategic plan.
Visit our blog with 16 strategic planning tips to keep your strategic plan alive during the year. Determining the right annual initiatives and aligning everyone around them are key to growing the business.
Consider these questions in your next planning session. Watch Demo. Step 2 - Determine Strategic Winning Moves for Revenue Think of strategic revenue growth initiatives that can double your top line. Step 3 - Determine Strategic Winning Moves for Profit Determine strategic profit initiatives to increase productivity. Step 4. Some ideas to jump-start the revenue brainstorming process are the following: What's my competition not willing to do?
What do our customers hate but have to put up with? Do I have an asset or diamond in my backyard? What's the biggest barrier to entry for my prospects and how can I remove it?
Are there opportunities to consider through partnership, acquisition or joint venture? What are some big ideas or opportunities we have discussed in the past, but not acted on? A score of 10 would indicate that this move alone could more than double your current revenue.
A score of 10 would indicate that it would be very easy to execute because you already have all the expertise and resources necessary, and it's synergistic with your other activities. Step 5. Do we have the resources or need help? How does this impact cost, hiring, etc.? Ask these questions before jumping in to execute your year strategic growth initiative: What are my top 5 assumptions on why this move will work?
What are the key obstacles to overcome? What deal breakers must we validate before jumping in? Are there any government policies and regulations to consider? What trends are we banking on for success?
Do they align with our mission and vision? What strategic objective does this help advance? Do you need to make any adjustments to your mission statement? Have we done a complete SWOT analysis? What can your management team deliver? Will this make a positive impact on your balance sheet? Your Year Targets and your Sandbox are related. You never want to grow slower than your industry or you will be losing market share to your competition. If this is the case, you will need to set a target that is more than 2X your current revenue in 3 years.
Learn how to facilitate a strategic planning session to get the most of your investment. Pull it all together in one cloud-based platform!
A 5-year business plan will help you manage your company and get loans. This term is familiar to most loan officers and small business investors. Learning how. The Five-Step Process to Create Your 3 Year Strategic Business Plan. 3 Year Strategic Plan Example and 5 Year Business Plan with Template. Step 1: Set 3.
Having a road map helps you reach your journey's end successfully. Business plans do the same for small businesses. They lay out the milestones you need to reach on your way to building a profitable small business. From finance to marketing, operations to sales, each part of a business plan helps you reach your goals.
Think you have a great idea for a business? The simple business plan template presented here will get you started.
It's definitely not the most exciting part of starting a business. In fact, if you're like a lot of entrepreneurs, you're probably going to find yourself pulling a few all-nighters to get one done before heading into your first pitch for funding. Because that's the thing--your business plan is a pretty important.
Free Strategic Planning Templates
Tasks, to-do lists, meetings, and more. Amidst that rush, the idea of writing a business plan—much less following a business plan template—often feels time-consuming and intimidating. In fact, a wealth of data now exists on the difference a written business plan makes. Especially for small or growing companies. Bplans worked with the University of Oregon to compile and analyze research around the benefits of business planning. For sources and links, see footnotes at the bottom of this article.
Business Plan Template for a Startup Business
The success of your organization — no matter what size or industry — depends on the thoroughness of your planning and vision. A strategic plan can provide a roadmap for accomplishing specific goals, and will increase your chances of reaching objectives on time and budget. Additionally, we've provided customizable strategic planning templates in Smartsheet, a collaborative, real-time work execution platform that empowers you to better plan, manage, and report on strategic initiatives. Strategic planning may be utilized on a large scale, such as planning for business growth over several years or to help a nonprofit or governmental organization reach its stated mission. A strategic plan can also be used on a smaller scale, such as crafting a marketing plan or developing strategy for the goals of one department within a business or organization. It is important to note that strategy is distinct from planning: While strategy looks at why certain steps should be taken, a plan outlines how to enact those steps. The purpose of strategic planning is to provide a thoughtful, deliberate approach to reaching objectives based on an in-depth analysis of both internal and external factors affecting an organization. A strategic plan often covers multiple years, addressing both short- and long-term goals.
Your Year Strategic Plan can be viewed as a base camp on the way to the summit of your long term goal. This can be used as a tool to align your company around a common purpose and closes the strategy execution gap.
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Simple Business Plan Templates for Entrepreneurs
No matter how successful your business is now, developing a strategic plan for your business can help take your company to even greater heights. When was the last time you wrote a plan for your business? If it was before you started your company, how long has it been since you looked at that business plan? Maybe you never wrote one at all. With change happening faster than ever, industries being disrupted and technology transforming the world of business, creating a strategic plan looking five years in the future might seem hopelessly antiquated. But contrary to what you may think, the rapid pace of business change is the best reason of all to develop a strategic plan. And by considering a variety of scenarios, you can prepare options for how your business will react to them. Whether you are creating a five-year, year, or year strategic plan, the basic process is the same. Gather your business mission and vision statements, your business plan no matter how outdated it might be , your sales data and your financial records. How big do you want your business to grow? Do you want to expand your product or service line, your target market, your staff, your distribution channels? Would you like to start selling nationally or even worldwide? Be very specific. Do you want to be working fewer hours? Do you want to be in charge of a staff of 50?
How to write a business plan (template): 10 steps, 5 tips, and examples to guide you
I often find that at the end of the year my sense of perspective is heightened and I generally feel a lot more motivated and excited about the future. Part of this feeling comes from knowing that a new year is just around the corner, which means a fresh start at tackling any personal or business-related challenges. As it turns out, there is a very effective strategy for setting and hitting your growth goals, and by following this strategy you can accurately predict what is possible to accomplish. You can also take a look at some other process infographic templates that could help you map out different growth strategies in more detail. Or create a business plan using our online drag and drop tool—no design experience required. Step 1: Identifying and setting your high-level goals. Step 2: Understanding which inputs and outputs impact those goals. Step 3: Running experiments to impact those inputs.
