10 critical questions for a business plan growthink

Growthink's Ultimate Business Plan Template

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Impress readers with 10 gorgeous & professional designs.

Anyone who reads your plan — investors, lenders, partners, employees, board members, your spouse, and others — will be amazed by how professional it is, and how much better it looks than other business plans they’ve seen.

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You’ll have your Income Statement, Balance Sheet, Cash Flow Statement, and multiple charts and graphs completed in minutes.

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For instance, leading with your “Unique Success Factors” (easy to do with our simple exercises) can triple your funding success. Our formula works wonders — our clients have raised over $2.5 BILLION!

Gain a Winning Business Strategy

It accomplishes this by asking you critical questions about your company, marketing and operations strategies.

Importantly, it expertly guides you through developing answers to each of these key questions, thus ensuring your business is built to succeed.

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Our Members Area also includes sample business plans and resources to help you grow your business.

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Ultimate Strategic Plan Template

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Strategy – Growthink’s Ultimate Business Plan Template

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135 Business Plan Questions

Embarking on the business journey of your dreams begins with a robust business plan. This plan is not just a document—it’s the roadmap to your success, painting a clear picture of where you’re headed and how you plan to get there.

Whether you’re a seasoned entrepreneur or a hopeful startup pioneer, the questions I’ve compiled are designed as your compass, guiding you through the intricate landscape of business strategy.

From your executive summary to the details of your financial projections, each question serves to dig deep into the essence of your vision, solidifying your plan with precision and care.

Table of Contents

Executive Summary

• What is the core mission of your business?
• How would you describe your company’s business model in simple terms?
• What unique problem does your business solve for its customers?
• What are the short-term and long-term goals of the company?
• Who are the intended clients or customers of your business?
• What is the vision statement for your business?
• Who are the founders and key team members, and what are their roles?
• How does your company set itself apart from the competition?
• What are the main achievements or milestones of your business to date?
• What key opportunities do you see in the market?
• How much funding are you seeking, and how will it be used?
• What are the main products or services your company offers?
• What is the current stage of your business (concept, start-up, growth)?
• How do you see your company evolving in the next five years?
• Can you summarize the financial outlook and projections for your company?

Company Description Considerations

• What is the legal structure of your business (e.g., sole proprietorship, LLC, corporation)?
• How did the idea for the business originate, and how has it been developed?
• Who are the target customers, and why will they choose your business?
• What are the key elements of your business’s operations?
• What are the specific advantages of your location or facilities, if any?
• How does your company’s history and background set it up for success?
• What business sector or industry does your company fall under?
• How does your company contribute to the economy and community?
• What partnerships or collaborations are essential to your business?
• What are the core values and culture of your company?
• How does your business respond to changes in the market?
• What relevant certifications, licenses, or permits does your business hold?
• What are the main risks and challenges your business faces?
• What role does sustainability play in your company’s operations?
• How does diversity and inclusion manifest in your company?

Market Analysis

• Who is your primary target market, and what are their defining characteristics?
• How large is the target market, and what is its projected growth?
• What are the trends and themes currently shaping your target market?
• Who are your top competitors, and what are their strengths and weaknesses?
• What is your market share, or what market share do you project to capture?
• How do your target customers make their purchasing decisions?
• What factors influence the demand for your products or services?
• What barriers to entry exist in your market, and how can they be overcome?
• How does pricing play a role in your market position?
• What is your value proposition to customers in comparison to competitors?
• How might technology impact your market in the future?
• What are the legal or regulatory factors affecting your market?
• How have external factors like the economy affected your market historically?
• How does geography affect your market and business model?
• What are the risks associated with your target market?

Organization and Management Structure

• Who comprises the leadership team, and what are their backgrounds?
• What is the organizational structure of your business?
• How will your management team help achieve the business’s goals?
• What gaps exist in your current team, and how do you plan to fill them?
• What are the roles and responsibilities of your management team members?
• How does the management structure align with your business strategy?
• How does your team make decisions and communicate internally?
• What systems are in place for performance management and accountability?
• What is your plan for recruiting and retaining skilled employees?
• How do you approach leadership development and training?
• How does the current team’s expertise align with the business goals?
• What are the board of directors’ roles, if applicable?
• How do you plan to create a productive company culture?
• What external advisors or consultants does the business use, and why?
• How have you planned for succession in key management roles?

Service or Product Line Inquiry

• What are the main products or services your business offers?
• How do these products or services fulfill customer needs?
• What is unique about your products or services?
• How does product/service quality compare to competitors?
• What is the lifecycle of your products or services?
• How is your product or service produced or delivered?
• Are there any patents, copyrights, or trademarks involved?
• What research and development activities are you pursuing?
• How do you plan to expand your product or service range?
• What customer feedback have you received about your product or service?
• How does your product or service adapt to changes in the market?
• What is the pricing strategy for your products or services?
• How does your product or service contribute to your brand image?
• What are the future plans for developing your product or service?
• How do warranty or guarantee terms play into your offering?

Marketing and Sales Strategies

• What marketing channels will you use to reach your target audience?
• How will you position your company within the market?
• What promotional strategies will you utilize to attract customers?
• What is your sales forecast for the first year and beyond?
• How will you set sales targets and measure success?
• What sales tactics will you employ to enhance customer acquisition?
• How will your marketing and sales strategies evolve as the business grows?
• What is your approach to online and social media marketing?
• What customer relationship management processes will you put in place?
• How do you plan to establish your brand identity?
• What partnerships or sponsorships will you leverage to enhance marketing?
• What are your strategies for repeat business and customer loyalty?
• What is your process for tracking marketing ROI?
• How do customer service and support fit into your sales strategy?
• How does your marketing strategy cater to different customer segments?

Funding Request Fundamentals

• How much total funding is required to reach your business objectives?
• What specific purposes will the funding be used for?
• What is your proposed timeline for the utilization of funds?
• What types of funding (e.g., equity, loan) are you pursuing?
• How will investors or lenders get a return on their investment?
• What is the current financial position of the business?
• How much equity are you willing to exchange for investment?
• What are the key financial milestones that the funding will help achieve?
• What are the terms you’re seeking for any loans?
• How do you plan to manage cash flow and ensure financial stability?
• What collateral, if any, are you offering to back up your funding request?
• How does the funding impact your business’s financial projections?
• What is the exit strategy for investors?
• How will additional funding influence your strategic business decisions?
• What contingencies do you have in place if you don’t secure the expected funding?

Financial Projections and Feasibility

• What are your financial forecasts for the next three to five years?
• How did you arrive at your revenue and expense estimates?
• What are the key assumptions underlying your financial projections?
• What are the projected cash flow statements for the next few years?
• What is your break-even analysis showing?
• What are your strategies for maintaining a healthy profit margin?
• How do you plan to monitor and manage financial risks?
• What is your approach to pricing and cost control?
• How will you balance reinvestment in the business with profitability?
• What financial metrics will you use to gauge business performance?
• How will you handle unexpected financial shortfalls or emergencies?
• What is your strategy for financial record-keeping and accounting?
• How do customer payment terms and cycles affect your cash flow?
• What financial software or tools do you use for projections?
• How will financial trends and economic conditions potentially impact your projections?

Appendix and Supporting Documents

• What supporting documents will you include in the appendix?
• How will these documents reinforce your business plan’s credibility?
• What resumes or biographies of your team members will you present?
• What legal documents are relevant to include (e.g., licenses, permits)?
• How can we access extensive market studies mentioned in the plan?
• What are your key technical product specifications or service descriptions?
• How do your financial statements and accounting documents get audited?
• What testimonials or case studies from customers can you showcase?
• What press coverage or media mentions has your business received?
• Can you provide industry endorsements or expert opinions?
• How will technology prototypes or demos be made available for review?
• What are your policies and procedures manuals like?
• How do your charts, graphs, and tables support your plan’s data?
• What correspondence or contracts with suppliers/partners are appropriate to include?
• How does your intellectual property documentation reflect on your business’s value?

Frequently Asked Questions

Can i write a business plan myself, or should i hire a professional.

Writing a business plan yourself is possible, especially with the aid of specific questions that cover all business aspects. However, hiring a professional can provide expertise and a polished result, particularly if you seek significant funding.

How often should I update my business plan?

Regular updates are crucial—annually at minimum or more often if your business is rapidly changing. This keeps your business plan relevant and useful as a dynamic, guiding document.

What’s the most critical part of a business plan?

While all sections are important, the Executive Summary is critical as it’s often the first (and sometimes only) part read by potential investors or partners. Clear and compelling financial projections are also vital for potential funders.

Final Thoughts

As your blueprint comes together, remember that the strength of your business plan lies in its details and its ability to represent the vision and practicalities of your enterprise honestly.

The questions outlined will challenge you to think critically, anticipate future hurdles, and prepare for success. With these comprehensive inquiries as your cornerstone, you can turn your business from a dream into an actionable, thriving reality.

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Bea Mariel Saulo

Growthink's Business Plan Template Review Can you write your business plan in 8 hrs or less?

Growthink's Business Plan Template Review  by Marc Kneepkens

Growthink, the company founded by Dave Lavinsky in 1999, has raised billions of dollars for its clients. With products such as 'Angel Investor Funding Formula', 'VC Pitch Formula', 'Grant Guide', and 'Crowdfunding Formula', they have had a huge impact in helping entrepreneurs get funded. More about these products at the bottom of this page . Over 250,000 entrepreneurs have used their products, and over 2000 customized business plans have been written by the company. That is quite an accomplishment.

We decided to check out their Business Plan Template to see if it really came up to the requirements. As professional business plan reviewers , we see investment proposals and business plans every day. More than 50% of these don't even get opened . More than 95% of these have absolutely no chance to ever see any interest and/or funding.

Dave gives three reasons why entrepreneurs never write their business plan:

• Don't know what to write
• Don't know how to do the 'Financials'.

And no matter what some may think: if you don't have a solid business plan, you won't get any funding.

Now how can you deal with that? Entrepreneurs are bright people with wonderful ideas, however, they are not accountants, presenters, copywriters, editors and legal experts, all at the same time.

"Going around in circles?"

Dave came up with an efficient and practical solution : an interactive business plan template, in which the essential questions are asked, the actual information that investors want to know first. Information and guidance are provided. The answers can be put right on the template, and can be chosen from several different options, and then be adapted to your personal situation. Of course, it is a whole lot more than that, but by starting and dealing with the essential questions first, in the right way and in the right order, a very readable and to the point business plan gets created.

For example: Any business plan should start with the 'one liner description of the company'. When investors or business plan reviewers scan through many investment proposals, they don't want to have to read the whole business plan to find out what it's about. They want to see quickly, systematically, easily... what you have and what you want.

If I, the Investor or Business Plan Reviewer, have to read through the first 2-3 pages of a business plan trying to establish what in the world you want and need, I stop. Period. You need to be able to do this in the first line, then give an essential overview in the 'Executive Summary', the first page or two. Then, and only then, you must have caught my attention: is this a sector I am looking for? Is this in the investment range I want to work with? Does this look professional? Do they have an interesting and competitive product, and do they have a professional team to execute it? I don't need to read any more than that to know these first points.

In the 'Ultimate Business Plan Template', Dave covers the 10 essential questions that investors ask. In the following 15 minute introductory presentation he covers the first 4. Dave always gives something of value in every presentation he makes. The value in this one covers the first 4 essential points that you have to include and deliver with your business plan. To see what I am talking about, check the presentation here . Take out 15 minutes of your time, it's worth it.

Check the 'Ultimate Business Plan Template' presentation here. Watch Dave explain how it works.

Growthink's business plan template addresses all of these issues very efficiently. They go straight to the point, not wasting your own time, or the investor's. Dave even claims that you can do this in 8 hrs or less. Really? Not weeks or months? 8 hrs, get it over with, say what needs to be said, nothing more, and say it the right way.

Executive Summary, Industry Analysis, Customer Analysis, Competitive Analysis, Marketing Plan, Operations Plan, Management Team, Financial Plan... it's all there, nothing more, nothing less.

"But wait a minute, what about the financials" you might say! The financials, the usual big hurdle, how to deal with that? Dave says real simply, "Just type in the numbers". The projections and all necessary projections will be presented nicely and neatly in a 'Word' document and on an 'Excel' spreadsheet. Easy.

Conclusion of our review of Growthink's Ultimate Business Plan Template ? They pass with flying colors, first class, exactly what is needed to get the job done.

What about the claim to do it in 8 hrs or less? Absolutely, it's possible. Of course, you need to know the potential of your business and everything about it. Do you? I'm sure, you're the only one who can. It's all yours, and it's in your hands to push the button. You may get, like Dave says, 'investors lining up to have a part of it'.

We, the business plan reviewers, are very happy to receive business plans made this way. What a pleasure to deal with them and pass them on to the right investors.

Growthink products:

• Free business plan template
• The Ultimate Business Plan Template
• The Truth about Funding
• 'Angel Investor Formula': complete information on how to find and deal with 'Angel Investors'
• 'VC Pitch Formula': complete information on how to find and deal with Venture Capital firms.
• 'Crowdfunding Formula': complete information on how to fund your startup with Crowdfunding.
• 'The Grantguide': How to obtain business grants

And you can receive free regular emails every week with really cool tips on funding, marketing and sales, together with a free copy of "The 10X Blueprint, 10 Steps to Start, Grow and Sell your Business."

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30+ Business Plan Questions & Step-By-Step Business Plan Guide

Last Updated:  

30 May 2024

Table Of Contents

• 30+ Business Plan Question s

8 Steps to Creating a Full-Proof Business Plan

• SurveySparrow: The Best Business Plan Tool

Whether in business, marketing, or sales, you know how crucial a solid business plan is to your success. It’s not just about getting started—it’s about setting a clear direction for growth and innovation. This blog is your first step toward clarity and strategy.

Creating a comprehensive business plan is critical for entrepreneurs and business owners. It serves as a roadmap for your business and helps secure funding from investors and banks.

A well-crafted business plan should address key areas of your business, providing a detailed overview of its objectives, strategies, and financial projections.

Here’s a guide structured around crucial categories, each followed by pertinent business plan questions that will help in developing a robust business plan

30 Critical Business Plan Questions to Ask

Whether you’re steering a startup toward uncharted territories, aiming to elevate an established brand, or driving relentless sales growth, your business plan is the compass that guides your strategy, operations, and financial foresight.

Understanding this, we’ve compiled 30 questions designed to ignite your planning process and refine your business strategy.

Here we go.

Executive Summary

• What is your business’s mission statement?
• What products or services does your business offer?
• Who are the founders, and what is their background?
• What is the current stage of the business (concept, start-up, expansion)?
• What are the key financial highlights?

Market Analysis

6. Who is your target market, and how large is it? 7. What are the current trends and growth in your industry? 8. Who are your competitors, and what are their strengths and weaknesses? 9. How does your business fit into the market? 10. What is your unique value proposition?

Wait, wouldn’t you need a survey to run these questions and gather feedback? What if I told you that you can do that easily with Surveysparrow .

If you’re ready to chart your business path, grab our Free Business Plan Questionnaire Template . Begin your journey to success now.

Sign up for free with your email and start using it right away.

 Marketing and Sales Strategy

11. How will you reach your target market (marketing channels)? 12. What is your pricing strategy? 13. How do you plan to sell your product or service? 14. What is your sales forecast for the first year? 15. How will you measure the success of your marketing efforts?

Operations Plan

16. What is the location of your business, and why? 17. What facilities and equipment do you need? 18. Who are your suppliers, and what are your supply chain logistics? 19. What is the production process? 20. How will you ensure quality control and customer service?

Management and Organization

21. Who makes up the management team, and what are their roles? 22. How does your organizational structure look? 23. What are the backgrounds of your team members? 24. What gaps in expertise or knowledge exist in your team? 25. How will you fill these gaps (hiring, advisors, etc.)?

Financial Plan

26. What are your startup costs? 27. What is your break-even analysis? 28. What are your projected profit and loss statements for the first 1-3 years? 29. What are your cash flow projections? 30. What are the assumptions underlying your financial projections?

By carefully answering these questions, you can construct a thorough business plan that addresses all the critical components needed for your business’s success. Remember, a business plan is not a static document; it should evolve as your business grows and adapts to market changes.

• A Journey Begins: Identifying the Problem
• The Voyage of Discovery: Defining Your Customers
• The Battle Plan: Reaching Your Customers
• Understanding the Landscape: Identifying Your Competitors
• The Strategy Map: Outlining Your Operational Plan
• Charting the Course: Defining Your Business Structure
• The Guardian of Your Venture: Creating a Risk Management Plan
• Calculating the Costs: Budgeting and Financial Projections

1. Identify the Problem

Just as any memorable journey starts with a step, every successful business starts with identifying a problem.

The burning question to answer here is: what problem is your business attempting to solve? Remember, the more specific the issue, the better your chances of designing a unique solution that customers will flock to.

2. Define Your Customers

Identifying your target customer is crucial in the business planning process. This involves understanding and defining your potential customers’ specific demographics, psychographics, behaviors, and needs.

By doing this, you can tailor your products, services, and marketing strategies to meet their specific needs. The more precisely you can define your target audience , the more effectively you can serve them and set your business up for success.

3. Reach Your Customers

Now that You’ve discovered your target customers. Now comes the next challenge: How do you reach them?

Consider all possible marketing channels. Will it be social media? Email newsletters? Influencer partnerships? The choice is yours, but ensure it aligns with where your customers spend their time. After all, there’s no point in sending smoke signals if your customers are tuned into the radio.

 4. Identify Your Competitors

Now you have your bearings; it’s time to study the lay of the land. This means understanding your competition. The question is: Who are they, and how do they solve the same problem?

Understanding your competitors will help you differentiate your business and position it uniquely in the market. After all, in the quest for customer loyalty, your unique selling proposition (USP) is your Excalibur.

 5. Outline Your Operational Plan

So, you’ve identified the problem, defined your customers, planned your marketing, and sized up the competition. You’re almost ready to set sail. But first, there’s another significant piece of the business puzzle to put in place: your operational plan.

Your operational plan should include a detailed plan for sourcing deals. Using the Grata data deal sourcing platform can further help streamline this process and ensure you have access to the most relevant and up-to-date information.

How will your business function day-to-day? What resources will you need? Answering these business plan questions will help you create a clear blueprint of your business operations, ensuring your venture runs as smoothly as a well-oiled machine.

6. Define Your Business Structure

One question that’s often overlooked in the excitement of crafting business plans is this: What is your business structure? Sole proprietorship, partnership, corporation, or LLC ?

Your business structure will significantly affect taxation, liability, and other legalities. It’s like choosing the right ship for your journey – you need one that will safely weather the storms of your entrepreneurial voyage.

7. Create a Risk Management Plan

In the entrepreneurship journey, bumps and detours are part of the course. Having a risk management plan is essential. The business plan question is: What potential obstacles might you face, and how will you mitigate them?

A well-thought-out risk management plan ensures you’re prepared for the challenges ahead.

8. Create Budget and Financial Projections

Now, onto the numbers. What will be the cost of starting and running your business? How soon before you break even? Financial forecasts might seem as daunting as navigating uncharted waters, but they’re vital in answering the essential business-related question : Will your venture be financially viable?

How Can SurveySparrow Help You in Critical Business Planning

With SurveySparrow by your side, you’re never alone in your business planning journey. Its extensive suite of customer and employee experience tools offers invaluable insights to help answer all these key questions in your business plan.

Use SurveySparrow to conduct comprehensive market research, understand customer behavior, and even keep tabs on employee satisfaction. With this trusty tool, you’re well-equipped to answer all your business plan questions, ensuring your entrepreneurial journey is successful.

Here’s how you can do it.

Market Research : SurveySparrow allows you to design and distribute surveys to gather insights about your market. You can explore potential customer needs, preferences, and pain points and evaluate market trends and size, all of which are critical inputs for your business plan.

Customer Segmentation and Profiling : Using SurveySparrow, you can categorize your potential customers based on their preferences, behavior, demographics, and more. This can help you define your target market, tailor your offerings, and devise effective marketing strategies.

Competitor Analysis : By surveying consumers, you can gain insights about your competitors – their strengths, weaknesses, and what customers think of them. This data can be vital in positioning your business uniquely in the market.

Pricing Strategy : You can use surveys to understand what customers are willing to pay for your product or service, helping you devise a suitable pricing strategy.

Risk Assessment : Use surveys to gather feedback about potential risks or barriers to your business. Understanding these risks in advance can help you form strategies to mitigate them.

Employee Engagement : If you plan to have employees, understanding their needs and expectations is crucial for crafting your operations plan and culture. SurveySparrow can assist with gathering employee feedback and gauging engagement .

Product Testing : Before launching, you can use SurveySparrow to get feedback on your product or service. This can help you fine-tune it according to your target market’s needs and preferences.

Financial Projections : The data you gather from customer and market surveys can help inform your sales forecasts and financial projections, key business plan components .

In short, SurveySparrow can offer a wealth of information, helping you answer the critical questions in your business plan. You’re better equipped to create a robust, data-driven business plan by leveraging these tools.

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That’s All of It.

Remember, every successful business starts with a comprehensive business plan. And every comprehensive business plan starts with answering the right questions. So, go ahead and take the plunge. Your entrepreneurial journey awaits, and with SurveySparrow as your co-pilot, you’re set for an exciting voyage.

After all, the sky’s the limit regarding what you can achieve in the business world. Onwards and upwards, future tycoons!

Growth Marketer at SurveySparrow

Passionate, eidetic, and a writer at large.

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Best for: Entrepreneurs, startups, and small to medium-sized businesses.

Pricing: Custom

Top Features & Services

• 4.3  Business Plan Templates
• 4.5   Business Planning
• 4.3   Budgeting & Forecasting
• 0   Collaboration
• 4.4   Support

Other Users Choose

• 4.8   Business Plan Templates
• 4.6   Business Planning
• 4.7   Budgeting & Forecasting
• 4.5   Collaboration

Growthink is a management and business plan consulting firm that has been helping entrepreneurs and executives plan, execute, and achieve transformative success since 1999.

It has been considered one of America’s best management consulting firms by Forbes magazine and Statista.

Their extensive service list includes business plan consulting, business plan writing, investment banking, management consulting, capital raising, industry research, competitor analysis, and more.

Among its extensive services, Growthink is best known for its business plan template and business planning-related services.

Growthink’s business plan template is a quick and easy way to create a winning business plan. The best part about this business plan template is its simple fill-in-the-blank process, automatic financials, expert answers, 10 gorgeous designs, and lifetime access.

Overall, Growthink, with its services, can surely be an incredible companion for executives and entrepreneurs to help them grow their businesses. Still, their fees and pricing structure may not be affordable for all.

Hence, choosing a best business plan software would be a wise decision. Anyways, Let’s move ahead and discuss its ratings and reviews.

Top-Rated Growthink Alternatives

Growthink Rating

Growthink Reviews

• The amount of professional research available to support a business plan gives a solid foundation to build entrepreneurs' businesses.
• Once you purchase Growthink’s business plan template, you have lifetime access to use it for any business.
• There’s no software, so no learning curve . Simply download the template, personalize it, and print your plan.
• Their member’s area includes sample business plans and resources to help grow your business .
• Purchase is risk-free as Growthink provides a 365-day 100% money-back guarantee .
• Simply type in some number, and the template automatically calculates your 5-year financial projection .
• This business plan template subscription includes free access to “Insider Secrets to Raising Capital” and “Productivity Secrets”.
• Growthink’s business plan template might not ideally represent the unique value proposition of your business due to its restrictive customization options.
• They only offer a lifetime subscription model , so not every entrepreneur may consider using this service.
• The template has not been updated regularly, so it may contain outdated information and no longer relevant strategies.
• It can be challenging to have a business plan written by someone who doesn't understand your business completely.
• This generic template may not include comprehensive and latest market research data.
• This template may offer a structured business-planning outline but lacks sufficient guidance and educational resources .
• Opting for their business plan writing or consulting services can be way too expensive for startups and small business owners.

Growthink Pricing

Growthink does not have structured pricing plans for the extensive range of services they provide. So, entrepreneurs often need help figuring out how much they can expect to spend if considering hiring Growthink as their business consulting or writing service provider.

So let’s take a look at Growthink, their business planning products & services, and how much you can expect to spend on these:

Business Plan Template: Growthink’s ultimate business plan template costs $97 , which includes an easy-to-use business plan template with automatic financials, 10 design options, lifetime access, and other relevant features. As this template comes with lifetime access, you can use it for any business you’re involved in. Business Plan Consulting: Growthink has been providing business plan consulting services for a few decades now. Depending on your needs, these consultants can help you conduct market research, create a strategic plan, and prepare a business plan. Though they do not provide any pricing plan, consultants usually charge somewhere between $50 to $300 per hour, depending on their expertise and the complexity of your plan. You can book a free consultation call and learn more about their consulting services and fee structure. Business Plan Writing: Growthink provides business plan writing services to entrepreneurs, mid-large-sized organizations, and nonprofit organizations. Professional business plan writers usually charge between $2,000 to $25,000 depending on your business plan’s quality, complexity, and length.

Price Comparison

Having discussed Growthink’s pricing recently, we can say it may not be the right fit for new entrepreneurs and small business owners starting out on a tight budget.

The cost of hiring a business plan consultant or writer can add up to hundreds and thousands of dollars, which certainly isn’t ideal for an early-stage startup.

Instead, choosing business planning tools like Upmetrics could be an affordable, reliable, and beginner-friendly growthink alternative .

See how cost-effective Upmetrics can be compared to Growthink.

Business plan consulting Custom (Appx. $50 to $300 per hr.)

Business plan template $97 (Lifetime Access)

Money-back guarantee Yes

Free Demo No

Starter $7/per month

Premium $14/per month

Features & Services

1. business plan template.

With Growthink’s business plan template, users can easily create professional business plans and turn their ideas into reality. This template comes with lifetime access and doesn’t require any recurring fees. Here are a few key highlights of Growthink’s ultimate business plan template:

• Simple fill-in-the-blank exercises to help you get started.
• Simply type in some numbers, and the template automatically calculates 5-year financial projections.
• Comes with 10 professionally-designed templates.
• No learning curve.
• 365-day money-back guarantee.

2. Business Plan Consulting

Business plan consulting is one of Growthink’s primary services. They have a team of consultants with world-class academic, entrepreneurial, and financial backgrounds. As mentioned earlier, these consultants can help you conduct market research, create a strategic plan, and prepare or customize a business plan depending on your specific requirements.

3. Business Plan Writing

In addition to consulting services, Growthink has an efficient team of writers helping entrepreneurs and executives write professional business plans. Business plan writers can help you fully customize your plan, conduct thorough market & competitor research, forecast financials, and can offer strategic consulting for growth and funding. If you don’t have time to write a business plan or need assistance getting started, professional business plan writers can help. However, it may not be ideal for someone starting on a tight budget.

4. Industry Analysis

A complete market research or industry analysis can provide a direction about your company’s path. To help you start and grow your business, Growthink provides in-depth industry analysis, data, trends, market share, and forecasts. An understanding of market conditions will ultimately contribute to the development of marketing and growth strategies. Growthink’s market research capabilities span every major industry in the US, including Fashion, Entertainment, Automotive, Healthcare, Real Estate, and others.

5. Customer Research

Entrepreneurs and business owners must understand customer requirements to serve them successfully, and conducting customer research is the best way to do that. Through Growthink’s customer research services, you can better understand your customers’ needs, how these needs are currently being met, and what else can be done to enhance the experience. You can contact their support team to learn more about their customer research services.

Growthink is a great business planning and management consultant helping entrepreneurs and executives grow their businesses through service offerings.

With an expert team of business consultants and writers and their industry expertise, hiring Growthink for business plan writing or consulting makes the perfect sense.

However, its business plan template lacks many advanced business planning features compared to business plan software like Upmetrics .

Now that we have thoroughly reviewed Growthink, including their services, reviews, and pricing, deciding whether or not you need to go for it will be much easier for you.

Say No to Expensive Business Planning Software!

Get Affordable and Feature-Packed Business Planning with Upmetrics

Frequently Asked Questions

What is growthink used for.

Growthink is a business and management consulting firm helping entrepreneurs and executives grow their businesses through their service offerings. Their key offerings include business plan writing and consulting services, as well as their ultimate business plan template.

What are some good alternatives to Growthink?

Here’s the list of the top alternatives to Growthink :

• Pro Business Plans
• Optimus Business Plans
• Wise Business Plans
• Cayenne Consulting
• Other top business plan writing services

Is Growthink business plan software?

No, Growthink is not a business plan software but a business and management consulting service provider offering a business plan template, among other services. As it’s not a business plan software, their services may seem too expensive compared to available business plan software in the market.

What is the pricing of the Growthink business plan template?

Growthink’s business plan template costs $97. This easy-to-use business plan template comes with automatic financials, 10 design options, lifetime access, a 365-day money-back guarantee, and other relevant features. One of Growthink’s competitors, Upmetrics, offers a more affordable business planning solution than Growthink, which starts at just $7.

Does Growthink’s template provide financial projections?

Yes, Growthink’s template provides automatic financials that can automatically calculate your 5-year financial projections.

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6 Critical Questions Your Business Plan Must Answer If you want to lay the groundwork for a stable business and attract investors, make sure you're hitting these points.

By Larry Alton Edited by Dan Bova Mar 18, 2015

Opinions expressed by Entrepreneur contributors are their own.

Never underestimate the importance of your business plan . It is the backbone of your company, a foundational pillar from which your enterprise will be built. It's going to serve as the first impression for countless potential partners and investors, and it's going to serve as a roadmap for your whole business -- at least for the first several years.

In some ways, writing a business plan is easy -- there are no rules or requirements for length, format, presentation, or even subject matter. But finding the right answers to the right questions is critical if you want to lay the groundwork for a stable business and attract sufficient attention from investors.

Related: 25 Common Characteristics of Successful Entrepreneurs

1. What need are you addressing?

This is an important question because it extends beyond the simple "What does your business do?" It's one thing to outline your business in general, describing what products you make or what services you offer, but if you want a solid business plan you have to take it to the next level.

It's nice to imagine your business as providing something useful, and if you're excited about the idea, it's that much easier to think about people buying it. But you need to be logical and critical when you consider the driving force behind your customers' purchasing decisions: what fundamental customer need is your business addressing? You'll want to back this up with research that shows the need actually exists.

2. What makes you different?

It's a big world out there, and startups are constantly coming on and off the radar. Chances are, there are multiple businesses out there who are already serving the crucial need you outlined from question one. That doesn't mean you can't serve it better, or serve it in a different way, but therein lies the challenge—figuring out what makes you different.

First, you'll need to acknowledge all the major players in your space, and this is going to require some research. Acknowledge what they're doing right, what they're doing wrong, and how they're going about their business. Identify the differentiating factor that will allow you to stand out, and emphasize it.

Related: Struggling to Define Your Business Goals? Ask Yourself These Questions.

3. Who is your audience?

Here's a hint: the answer can't be "everybody." No matter how useful or practical your product or service is, there's no way you're going to be able to sell to everyone in the world. Think about factors like age, sex, education, geographic location, working status, marital status, and perform some preliminary market research to determine the best path forward.

Your key demographic may evolve over time, so don't stay too committed to one niche. Also remember, that it's easy to expand to other markets once you've established yourself in one, so if you have multiple key demographics, it may be wise to focus on one to start things off.

4. How is your business going to make money?

This seems like an obvious question to answer, but you'd be surprised how many entrepreneurs fail to elaborate on their plan. The brief answer to this question is "sell products/services," but how are you going to sell? Where are you going to sell? How much are you going to sell for?

The other side of the question is what are your operating expenses? Who are you going to pay? What services or partners will you need to pay for? And ultimately, will the amount you sell be able to surpass the amount you owe? When will you break even?

5. How will you promote your business?

Promoting your business is just as important as creating it. Otherwise, people will never know who you are. Your marketing strategy should start off based on what similar businesses before you have done. Do they rely on traditional advertising or online marketing? Do they attend tradeshows and local events, or use technology to spread the word about their existence?

Related: The Ultimate Guide to Writing a Business Plan

6. What do you need to get started?

For many potential partners and investors, this is the bottom line. All businesses have to start somewhere, but that starting line varies dramatically from industry to industry and from entrepreneur to entrepreneur. Do you need any advanced equipment? Who will you need to hire? How much will you need for an initial run? These questions should give you an idea exactly how much capital and what resources you need initially.

It may seem counterintuitive, but answering these questions isn't a one-time process. Your business plan should be a living, changing document that evolves along with your company. Throughout your course of entrepreneurship, you're going to encounter new challenges, new opportunities, and hundreds of factors you never considered as significant to your business when you were writing the initial plan. To survive, you're going to have to revise your answers to these questions and update your business plan accordingly.

Related: The Essential Ingredients to Startup Success

Freelance Writer & Former Entrepreneur

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More From Forbes

15 critical questions to ask before starting a business in uncertain times.

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Entrepreneurship always carries a degree of risk, and it’s even riskier during uncertain times. Whether you’re facing industry-wide changes or a global economic downturn, outside factors can further complicate the process of starting a business.

Of course, it is possible for businesses to launch, grow and thrive in the face of uncertainty. However, this success is often a combination of luck, opportunity and careful consideration.

While you can’t always control the first two factors, you can make informed predictions and decisions about your future business before jumping into entrepreneurship. Below, the members of Forbes Business Council share 15 questions you should consider before starting a business in uncertain times.

Members of Forbes Business Council detail what key questions to ask yourself before starting a business in an uncertain market.

1. What's My Reason?

Are you starting a business for the right reason? Are you passionate about the business or just looking to get rich? If your only purpose is more money, you won’t have the passion needed to survive the hard times when you can’t pay yourself. Find a good company and get a good job! However, if you are passionate and truly believe in your mission and would work on it for free, then go for it! - Jonathan Holmes , LuxDeco

2. Am I Ready For The Risk?

First, take a moment to ask yourself if you are truly ready to take on risk. In uncertain times, it’s more important than ever to be prepared for any consequences. You may decide against starting a business in order to keep stress out of your family life or to make sure you don’t lose your savings. If you are ready, more power to you as uncertainty may lead to growth opportunities! - Vasiliy Ivanov , KeepSolid

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Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?

3. Am I Focused On Profit Or People?

It depends on the business's purpose. Is it to make a profit or to serve people? In the digital age and in times of uncertainty especially, value delivered to the customers differentiates demanded brands from failures. A business will succeed and bond with its customers in the long term if it delivers according to the specific needs of customers and helps them in times of uncertainty. - Alex Kreger , UX Design Agency (UXDA)

4. What Do People Need Right Now?

This is often overlooked, not just during uncertain times but a lot of the time when people want to take a new idea or business to market. Entrepreneurs simply need to ask themselves what people are in desperate need of at the moment. What is currently on the market that needs improvement? - Deniz Doganay , Digital Debut

5. What Does Industry Supply And Demand Look Like Right Now?

In certain or uncertain times, there is always an opportunity to start a business. Identify the demand and supply situation. If the demand for certain commodities or services is high, then it's the right time to start the business. If there is less demand for certain goods or services but you have the knowledge or know-how on reducing the cost or increasing efficiency, then there is still an opportunity. - Ashok Krish , Kaizen Technologies, Inc

6. Will I Be Okay With Any Outcome?

Be okay with the outcome regardless of whether it's successful. As an entrepreneur, there will always be ups and downs, but you need to push yourself and continue to strive through all the downfalls and during trying times to make sure you come out on top with your business. - Steven Ridzyowski , Ridz Media LLC

7. Can My Business Still Thrive Post-Pandemic?

In these uncertain times, starting a business may seem overwhelming and dismal. One question that entrepreneurs should consider before starting a business is can your business thrive during and after the pandemic? Are you solving a problem? Will it help a lot of people? Entrepreneurs should use these questions as a permanent gauge for measuring the health of the business. - Anissa Jones , Total Health Chiropractic and Wellness Center

8. Do I Have A Niche Offering?

Do you have a niche product or service and are you an expert at it? Simple. If the answer is no to either of those questions, don't become an entrepreneur. If the answer is yes, then you have a business. Starting a business is all about passion. No passion and you have no business. Passion manifests itself in you becoming an expert in your field and from there you can sell it. - Chris J "Mohawk" Reed , Black Marketing

9. How Will I Put The World Back In Balance?

While brand strategy can get way too complicated at times, I believe two fundamental questions entrepreneurs should ask themselves before starting a business in uncertain times are, "How does your new company believe the world is out of balance?" and, "How will your company put it back in balance?" Former startup brands like Whole Foods and The Honest Co. asked these questions before they launched. - Kevin Ervin Kelley , Shook Kelley

10. How Long Can I Afford To Carry The Business?

Everyone has a plan until you get punched in the face. Businesses always start with unknown hiccups which will drain money from your balance sheet. Do you have the ability to weather this storm as you work to get your business on the right course? Everyone always thinks of the positive results; I always say plan for the worst. - Robert Depalo , National Financial Network

11. Who Am I Serving?

The economic landscape can shift all the time and new problems will exist due to those shifts. Your job as an entrepreneur is to solve problems and your solution becomes the answer. If you can't identify who it is that you are serving, then it doesn't matter how great your solution is if it's just not catered to the right demographic. - Wilson K Lee , Profitable Restaurant Owner Academy 

12. What Is My Motivation And Why Is That Important For Me?

"Why do I truly want to start a business?" should be the first question to ask. If you are motivated by money and lack the true passion for what you wish to pursue, your initial enthusiasm will dissipate fast. Once you find the first answer, ask, "Why is that important for me?" to get to the root cause. If the answer is inspiring, you are on the right path. - Andreea Vanacker , SPARKX5

13. What Value Will My Business Bring To Society Right Now?

Starting a business in times where there is uncertainty is an even greater challenge than usual. The audience may be focused on other priorities. Therefore, asking what value the business will bring to people at that time is the most appropriate way to ensure that it can truly scale up in the midst of a crisis. - Kevin Leyes , Leyes Media 

14. Can My Business Provide A Needed Escape For People?

In uncertain times, people are uncertain about their lives and want to escape. Providing happiness isn't enough. You should ask yourself whether your product will provide an escape. When a product helps people leave reality for just a little bit, they will never give that up. We're really happy that our bongs help people relax, so I don't see us going anywhere! - Harrison Baum , Daily High Club

15. Do I Have The Right Team To Solve A Real, Unique Problem?

It’s encouraging to start a business when you think about the freedom of being your own boss or vice versa, but you need to consider a few things. First, do you have the right team? Second, does your business idea solve real problems? Last, have you identified a unique opportunity that others don’t see? This pandemic really is an opportunity for us to learn how to manage risk and to be creative. - Abigail Aboitiz , 247 Health Solution LLC

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