A business plan can be as informal or formal as your situation requires, but even if you prefer to plan on the back of a napkin, there are some key advantages to starting your plan from an existing outline or template.
There is no blank-page paralysis. Even the most experienced writers can be intimidated by a blank page. Using an established framework and guidelines can help you overcome the inertia of beginning your business plan and save you the time and effort of creating an outline from scratch. You can always modify a template to meet your specific requirements.
Instructions on what to include in each section. If you’ve never taken a business class, you may have never created a SWOT analysis or a balance sheet. Templates that provide guidance on how to fill in each section in plain language can help you navigate sometimes-daunting business jargon and create a complete and effective plan.
Knowing you’ve thought of everything. In some cases, you may not need to fill out every section of a startup business plan template, but its initial structure indicates that you’ve chosen to omit a section rather than forgetting to include it in the first place.
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