long term prospects business plan example

Strategic Plans for Long-Term Growth: Examples and Strategies

This is a comprehensive guide on strategic planning for small to midsize companies.

If you want to:

• Move your organization in the direction you intend for long-term success,
• Implement your plan smoothly for greater growth,
• Use a better platform for developing a truly effective strategic plan,

… then you’ll love this guide. Let’s get started.

What’s Covered in This Guide

Click on each to jump to that section.

What is Strategic Planning?

What does strategic planning mean, what is the goal of strategic planning.

• What is Strategic Leadership?

4 Strategic Planning Strategies

The strategic planning process [11 steps], what does strategic planning involve.

• How to Implement Your Strategic Plan

Examples of Strategic Plans

Get your strategic planning done on ninety.

Strategic planning is the process you use to:

• Establish and document a clear direction for your organization.
• Identify business goals and set priorities that create growth for your company.
• Formulate a long-term plan of action designed to achieve these objectives.
• Determine an internal system tracking and evaluating performance.

When organizations want to, they use a strategic plan to:

• Strengthen their operation.
• Focus on collective energy and resources.
• Enable leaders, teams, and other stakeholders to work toward common goals.
• Make agreements around desired results.
• Refresh direction and prevail over a changing or challenging environment.

Thinking strategically helps companies take the right action for more success and better outcomes. Some even call it an art.

Strategic planning is one of three essential ways to pursue important objectives for your company. When tackling challenges and determining action plans, you can think strategically, tactically, or operationally. These three thought processes often work in concert to help you create a framework that achieves your desired objectives.

• Strategic plans are designed for multilevel involvement throughout the entire organization. Leaders will look ahead to where they want to be in three, five, and ten years and develop a mission.
• Tactical plans support strategic plans. They outline the specific responsibilities and functionalities at the department level so employees know how to do their part to make the strategic plan successful.
• Operational plans focus on the highly detailed procedures, processes, and routine tasks that frontline employees must accomplish to achieve desired outcomes.

The goal of your strategic plan is to determine:

• Where your company stands in relation to the current business environment. Understand how your business operates, how you create value, and how you differentiate from your competitors.
• Where you want to take the business based on long-term objectives such as your company’s vision, mission, culture, values, and goals. Envision how you see the company five or ten years from now.
• What you need to do to get there. You come away from your planning sessions with a roadmap that helps deliver on your strategic objectives. Determine better ways to enable and implement change, schedule deadlines, and structure goals, so they’re achievable.

The main purpose of your strategic plan is to create clearly defined goals for achieving the growth and success of your organization. These goals are connected to your organization’s mission and long-term vision.

What is Strategic Leadership? 

Strategic leadership is how you create, implement, and sustain your strategic plan, so your organization moves in the direction you intend for long-term success. This usually involves establishing ongoing practices and benchmarks, allocating resources, and providing leadership that supports your strategic mission and vision statement.

Strategic leadership, also known as strategy execution, can employ two different approaches:

• A prescriptive approach is analytical and focuses on how strategies are created to account for risks and opportunities.
• A descriptive approach is principle-driven and focuses on how strategies are implemented to account for risks and opportunities.

Most people agree that a strategic plan is only as good as the company’s ability to research, create, implement, evaluate, and adjust when needed. The benefits can be great when:

• Your entire organization supports the plan.
• Your business is set up to succeed.
• Your employees are more likely to stay on track without being distracted or derailed.
• You make better decisions based on metrics that facilitate course correction.
• Everyone in your company is involved and invested in better outcomes.
• Departments and teams are aligned across your company.
• People are committed to learning and training.
• Productivity increases, and performance improves.
• Creativity is encouraged and rewarded.

What are the four main points of strategic planning? You engage in strategic thinking so you can create effective company goals that are:

Purpose-driven

Align your strategic plan with the company’s purpose and values as you understand them.

Actionable strategic goals are worth spending your time and resources on to reach organizational objectives.

It’s critical for you to track your strategy's progress and success, enabling your teams to take action and meet the goals more effectively.

Focused Long-term

A long-term focus distinguishes a strategic plan from operational goals, which involve daily activities and milestones required for success. When planning strategically, you’re looking ahead to the company’s future.

A strategic plan isn’t written in a day. Critical thinking evolves over several months. Those involved in the strategic planning are usually a team of leaders and employees from your company and possibly other stakeholders.

When should strategic planning be done?

You should plan strategically for start-ups and newer organizations from the start. But even if your company is more established, it’s not too late to start working on strategy.

Flexible timing that’s tailored to the needs of your organization is smart. Although the frequency of strategy sessions is up to you, many leaders use these milestones as a guide:

• When the economy, your market, and industry trends change, or a global event occurs (like the onset of a pandemic).
• Following a change in senior leadership.
• Before a product launch or when a new division is added to your business.
• After your company merges with another organization.
• During a convenient time frame such as a quarterly and annual review.

Many organizations opt to schedule regular strategic reviews such as quarterly or annually. Especially when crafting a plan, your strategic planning team should meet regularly. They will often follow predetermined steps in the development of your long-term plan.

What are the 11 steps of strategic planning?

Identify your company’s strategic position in the marketplace. .

Gather market data and research information from both internal and external sources. You may want to conduct a comprehensive SWOT analysis to determine your company’s Strengths, Weaknesses, Opportunities, and Threats against success. Your strengths and weaknesses are directly related to your current competitive advantage within your industry. They are what you use to balance challenges to your success. They also influence the likelihood of increased market share in the future.

Define your unique vision and mission. 

What would success look like for you in three years? Five years? Ten years? Articulate that in a vision statement. How do you intend to realize your vision? That’s articulated in your mission statement. Formulating purpose-driven strategic goals articulates why your company does what it does. Your organizational values inform your mission and vision and connect them to specific objectives.

Determine your company’s value.

Many companies use financial forecasting for this purpose. A forecast can assign anticipated measurable results, return on investment (ROI), or profits and cost of investment.

Set your organizational direction.

Defining the impact you want to have and the time frame for achieving helps focus a too-broad or over-ambitious first draft. This way, your plan will have objectives that will have the most impact. 

Create specific strategic objectives.

Your strategic objectives identify the conditions for your success. For instance, they may cover:

• Value: Increasing revenue and shareholder value, budgeting cost, allocating resources aligned with the strategic plan, forecasting profitability, and ensuring financial stability. 
• Customer Experience: Identifying target audiences, solution-based products and services, value for the cost, better service, and increased market share.
• Operational Efficiency: Streamlining internal processes, investing in research and development, total quality and performance priorities, reducing cost, and improving workplace safety.
• Learning and Growth: Training leaders and teams to address change and sustain growth, improving employee productivity and retention, and building high-performing teams.

Set specific strategic initiatives.

Strategic initiatives are your company's actions to reach your strategic objectives, such as raising brand awareness, a commitment to product development, purpose-driven employee training, and more.

Develop cascading goals.

Cascading goals are like cascading messages : They filter your strategy throughout the company from top to bottom. The highest-level goals align with mid-level goals to individual goals employees must accomplish to achieve overall outcomes. This helps everyone see how their performance will influence overall success, which improves engagement and productivity.

Create alignment across the entire company.

The success of your strategy is directly impacted by your commitment to inform and engage your entire workforce in strategy implementation. This involves ensuring everyone is connected and working together to achieve your goals. Overall decision-making becomes easier and more aligned.

Consider strategy mapping.

A strategy map is an easy-to-understand diagram, graphic, or illustration that shows the logical, cause-and-effect relationship among various strategic objectives. They are used to quickly communicate how your organization creates value. It will help you communicate the details of your strategic plan better to people by tapping into their visual learning abilities.

Use metrics to measure performance.

When your strategy informs the creation of SMART organizational goals , benchmarks can be established and metrics can be assigned to evaluate performance within time frames. Key performance indicators (KPIs) align performance and productivity with long-term strategic objectives. 

Evaluate the performance of your plan regularly.

You write a strategic plan to improve your company’s overall performance. Evaluating your progress at regular intervals will tell you whether you’re on your way to achieving your objectives or whether your plan needs an adjustment.

Effective strategic planning involves creating a company culture of good communication and accountability. It involves creating and embracing the opportunity for positive change.

Consider these statistics:

• In many companies, only 42% of leaders and 27% of employees have access to a strategic plan.
• Even if they have access, 95% of employees do not understand their organization's strategy.
• 5.2% of a strategy’s potential is lost to poor communication.
• What leaders care about makes up at least 80% of the content of their communications. But those messages do not tap into around 80% of their employees’ primary motivators for putting extra energy into a change program.
• 28% of leaders say one of the main reasons strategic initiatives succeed is the ability to attract skilled personnel; 25% say it’s good communication; 25% say it’s the ability to manage organizational change.

Here’s what you can do to embrace a culture of good communication and accountability:

Make your strategic plan visible. Talk about what's working and what isn't. People want to know where and how they fit into the organization and why their contribution is valuable. Even if they don't understand every element of the plan.

Build accountability. If you've agreed on a plan with clear objectives and priorities, your leaders have to take responsibility for what's in it. They must own the objectives and activities in your plan.

Create an environment for change. It’s much more difficult to implement a strategy if you think there will be no support or collaboration from your coworkers. Addressing their concerns will help build a culture that understands how to champion change.

Implementing Your Strategic Plan

• 98% of leaders think strategy implementation takes more time than strategy formulation.
• 61% of leaders acknowledge that their organizations often struggle to bridge the gap between strategy formulation and its day-to-day implementation.
• 45% of leaders say ensuring employees take different actions or demonstrate different behaviors is the toughest implementation challenge; 37% of leaders say it’s gaining support across the whole organization.
• 39% of leaders say one of the main reasons strategic plans succeed is skilled implementation.

The reality for so many is that it’s harder to implement a strategic plan than to craft one. Great strategic ideas and a clear direction are key to success, no matter what. But so is:

• Turning strategic ideas into an easy-to-implement framework that enables meaningful managing, tracking, and adapting.  
• Getting everyone in the organization on the same strategic page, from creation to execution.

When your plan is structured to support implementation, you're more likely to get it done.

What are examples of good strategic planning? There are lots of templates out there to help you create a plan document with pen and paper.

But Ninety has a better way.

The Vision planner is essentially a strategic planning template on Ninety’s cloud-based platform that allows you to:

• Set goals, establish how you will meet them, and share them with those who need to know.
• Gain visibility around your company values.
• Create core values, a niche, and long-term goals that are accessible to everyone in your company.
• Create a vision of the future that lets you know what needs to happen now.
• Streamline and organize your processes.
• Easily update and track changes.
• Bring alignment to your entire organization.

And you can do all this with only two digitized pages.

In your Vision tool inside Ninety, you can easily access all the things that make strategic plans effective:

• Executive Summary
• Elevator Pitch
• Mission Statement
• Vision Statement
• SWOT Analysis
• Key Performance Indicators (KPIs)
• Industry Analysis
• Marketing Plan
• Operations Plan
• Financial Projections

Vision + Goals is also completely integrated with all other features on Ninety, such as Scorecards, 90-Day Goals, To-Dos, Issues, Roles & Responsibilities Chart, Meetings, One-on-Ones, and more:

• Create a clear vision for each team.
• Determine one- and three-year goals.
• Reference past versions in a Vision archive.
• Share your Vision with all teams, or keep it private.

Now that you’ve learned how to grow your company using strategic planning, it’s time to put your knowledge into practice:

Build your strategic plan on Ninety now.

Do you want more step-by-step guides on strategy, strategic planning, and creating actionable strategic plans?  Subscribe to our blog!

You might also like:

Is Team Health at the Forefront in Your Annual Planning Meeting?

Leadership • 7 Minute Read

Explore 7 Business Strategy Types for Sustainable Growth

Productivity • 17 Minute Read

Setting Business Goals: How to Write, Track and Align Them for Growth

Goals • 16 Minute Read

Dividends Diversify

10 Examples of Long-Term Business Goals to Set Now

December 15, 2023, identify, set, and achieve long-term business goals for success.

Today I want to share examples of long-term business goals with you. Because thinking long-term about your business is key to its success.

One of my former bosses had a good saying. And I think it applies to long-term goals for a business.

My boss used to tell us this. “In the long run, we are only limited by our thoughts. Don’t hold back. Think big!”

So, let’s dive in and think big about our businesses…

Disclosure: At no cost to you, I may get commissions for purchases made through links in this post.

Examples Of Long-Term Business Goals

First of all, here you will find today’s examples of long-term business goals list for your consideration:

• Expand into a new geographic market
• Market through a new channel
• Penetrate a new demographic
• Broaden product and service offerings
• Acquire a competitor
• Expand personnel and facilities
• Migrate to a new technology platform
• Put financing sources in place
• Increase earnings
• Improve profit margins

Next, let’s make sure we are completely aligned on today’s topic.  Identifying, setting, and achieving these 10 examples of long-term goals for a business.

Long-Term Business Goals Definition

First of all, a goal is an outcome you want to achieve. That a person envisions, plans for, and commits to achieve.

Furthermore, goals can relate to many aspects of our lives. For example, self-development, career, health, fitness, and personal finance outcomes .

But today, we are talking about goals related to your business.

More specifically, we are talking about long-term goals for a small business . Or, larger businesses too.

Typically, long-term goals take more planning. And more time to achieve. Normally, it takes 5 years or more to accomplish a long-term goal.

Furthermore, long-term goals are more strategic. And they require a vision of what your business will look like in the distant future.

While ensuring its long-term success, growth, and profitability. As you make the journey.

Finally, business goals can be non-financial . Or, they can be tied to a specific financial outcome.

Long-Term Goals For A Business Versus Other Types Of Goals

Businesses also have short-term goals and medium-term goals. Let’s compare and contrast…

Short-Term Business Goals

Short-term business goals are to be accomplished within 1 year.

Their focus is on solving today’s problems. Or, activities in the near term. That creates a foundation for long-term success.

Examples of short-term business goals include:

• Increase on-time delivery from 95% to 99%
• Reduce overhead costs by 3%
• Prepare a business plan

Medium-Term Business Goals

Medium-term goals should be set and completed within a 1-5 year time horizon.

These goals are intended to move your business forward in a meaningful way. But, are too involved to complete within a year.

Examples of good medium-term goals for business include:

• Increase market share by 5%
• Develop and bring to market a product line extension
• Increase shareholder value by $1 million

Next, before we touch on the examples. A little more talk about long-term goals for a business…

The Big Picture View Of Long-Term Business Goals

Today’s examples of long-term business goals are more strategic. Versus short and medium-term goals.

They are not about solving today’s problems. Or, about improving your business on the margins in the next few years.

They are for taking big steps forward. And transforming your business into something bigger and better in the future. Versus what it is today.

These goals take more than 2-3 years to accomplish without causing business instability.

They require careful thought about the direction you wish your business to take. Then planning, resources, and careful execution.

For more on these strategic topics…

consider this excellent course on business strategy and leadership .

But for now, I think about long-term goals for a business in one of three categories:

1. Extending market reach. Specifically, growing business revenue in different and dramatic ways.

2. Ensuring the ability to scale. Having success with growth means being able to handle it. In other words, scaling operations to service the new markets and customers you are reaching.

3 . Balancing growth and profits. Substantial business growth is good. It certainly beats the alternative.

But rapid growth is hard to execute. And it must be done profitably.

Thus, all 10 of today’s examples of long-term business goals fall into one of these categories.

Now, let’s go through each of the 10 goals on our list. All of them can be good investments to make in your business .

1. Expand Into A New Geographic Market

Plan for and expand into new geographic markets. For example, if you operate in Utah. Expand into the high business growth state of Colorado .

If your business services the Western portion of the country. Extend it throughout the United States.

Finally, consider foreign expansion. But, understand that these are big steps. Require careful thought and planning.

Up next in the long-term goals examples for business: channel strategy…

2. Go To Market Through A New Channel

Identify all the possible channels through which your products and services can be sold. Then delivered to your customers.

Utilize one or more marketing channels that have not yet been tapped.

For example, consider a targeted social media strategy. That drives traffic to an online store on your website.

3. Penetrate A New Demographic

Your current products and services are likely popular with a certain demographic.

So, evaluate your marketing plan. To tap into demand from a different segment of the population .

4. Broaden Product And Service Offerings

Enhance and broaden your product lines. Innovate and develop new products and services.

But, be sure they fit within your company’s mission. And customer service value proposition.

So, don’t stray too far. From your business’s core strengths.

Okay.  It’s time for the 5th in our series of long-term goals for business examples: mergers and acquisitions…

5. Acquire A Competitor

Acquiring a competitor can be the quickest way to extend your business’s market reach. And this brings us to the “buy or build” dilemma.

You have to decide if it’s more effective to extend your market reach on your own. In other words, building out those capabilities internally.

Or doing so. by buying a competitor. Specifically, a competitor that has accomplished what your business has not. This is the reasoning behind strategic acquisitions.

When it comes to the buy or build decisions. There is no right or wrong answer.

Each situation will be different. And every business will be different. Including yours.

Okay. So the first 5 examples of long-term business goals relate to extending your business’s market reach.

Accomplish any one or more of these goals. And your business will experience revenue growth. Sometimes, rapid revenue growth.

And rapid growth requires the ability to scale. This leads us to the next few long-term goals for business…

6. Expand Personnel And Facilities

Ensure you have the team in place to handle the influx of business. Including the quantity and quality of staff. Also, management personnel.

Develop and put a personnel plan in place. Including an employee professional development and onboarding program.

Then make sure you have the appropriate facilities. That solves for the right locations, footprint, and space.

This includes production, warehouse, distribution, and office space. Depending on your specific business needs.

Also, consider business outsourcing. Another buy or build decision. As part of scaling up to meet demand.

7. Migrate To A New Technology Platform

Don’t forget about technology. Because most successful businesses run on an enterprise-wide system.

If your business does not have the appropriate technology in place. Or, its capacity is limited.

Then make improving your technology infrastructure a long-term business goal.

8. Put Financing Sources In Place

If you have one, your CFO should be in charge of this goal.

Because growth by extending market reach. And putting the people, facilities, and technology in place to service it. Requires one very important thing.

What’s that? It is cash.

Because it takes money to make money. And investing in growth doesn’t come for free.

Where your cash comes from . Be it debt financing, equity financing, or internally generated funds. Don’t let access to capital derail your long-term business plans.

Okay now. Our final 2 examples of long-term business goals fall in the third category.

Specifically, balancing growth versus business profit goals . Since growth without profit, or at the very least, profit potential. Is no fun when operating a business.

9. Increase Earnings

So, set a long-term earnings goal. And first, put it into dollar terms.

For example, increase pre-tax income from $250,000 to $750,000. That’s a big jump in profit. And why it’s a long-term goal for a business.

But, make sure you have accurate financial information. To do so, consider outsourcing your financial management. Assuming you aren’t up to doing it yourself.

Now, it’s time for our last example of long-term goals in business. Then I will wrap up…

10. Maintain or Improve Profit Margins

Then, make sure your business’s profit margin is stable or even increasing. When I say profit margin, I’m talking about pre-tax income divided by revenue.

Continuing the example from above. Let’s say you did $250,000 in pre-tax profit on $1 million in revenue. So, your profit margin is 25%

Your long-term goal should be to at least maintain that margin. Therefore the new income target of $750,000. Should be generated from no more than $3,000,000 in revenue.

Your profit goals should be part of your financial planning . And, included in pro-forma financial statements.

Make sure the financials encompass all of the economics. Of whatever goals you choose to set.

Finally, I always recommend that business owners keep their personal finances. Separate from their business finances.

I use Personal Capital to track all of my spending and investments. And keep them separate from my business.

Best of all, Personal Capital is free to sign up and use. You can learn more about Personal Capital here .

Next, a few words about setting business goals. Here’s the best way to go about it…

How To Set Long-Term Business Goals

Business long-term goals should be set using SMART . A SMART goal includes the following 5 attributes…

Specific. Make your goals as detailed as possible. Outlining exactly what you want to accomplish.

Measurable. Determine how you will measure success. Both the interim steps and the completion of the goal.

Achievable. Stretch yourself and your organization. But don’t waste time with goals that can’t be achieved.

Realistic. A goal may be achievable. But it may not be realistic. Determine this by looking at your constraints.

For example, a goal may be achievable. But if it requires an amount of capital that you are unable to obtain. Then it’s not realistic.

In this case, access to capital is the constraint. Other constraints include the ability to attract employees and overall market conditions.

Time-bound. Set a deadline for when the goal will be accomplished. A long-term business goal should be out at least 4-5 years from now.

Finally, be sure to align your goals from short to long term . As a result, they will complement each other.

Since the complexity of long-term goals leads to long time horizons. Achieving these goals is challenging.

So, set yourself up for success…

How To Achieve Long-Term Business Goals

Students of goal-setting use three more steps. After setting goals using the SMART system.

Specifically, businesses that achieve these examples of long-term goals for business do 3 more things.

Specifically, they plan, act, and monitor (PAM) to successfully achieve goals .

Plan. Long-run goals require a plan. Those step-by-step actions, deliverables, and accountability that must be completed on the path to success.

Action. This should speak for itself. But it’s important. Get the planning done. Then, act. Furthermore, involve your employees in goal-setting processes.

Because people tend to delay working on long-term goals in a business. Thus, time management is critical for success.

Monitor. Finally, it’s important to monitor progress against the plan. Every 3-6 months.

Work through the SMART and PAM goal systems. Document as you go. Commit to all your goals and plans in writing.

Research shows that a written goal. Has a much higher success rate. Versus a goal that is not.

Then appoint a person who has the overall task to see the goal through to the end. And give them the resources required to be successful.

Lack of focus and lack of accountability diminishes the chances of success. When pursuing your organization’s goals over a long period.

Okay. Let’s wrap today’s article up with a summary…

Summary: Examples Of Long-Term Business Goals

10 Examples Of Long-Term Business Goals include:

In my opinion, any of these 10 objectives are good examples of long-term goals for a new business. Or, a mature business that has been operating for a while.

They are perfect complements to this…

course I really like about business strategy

…it’s full of great lessons on how to take your business to the next level.

Categories Of Long-Term Business Goals

These business goal examples fall into 1 of the 3 broad categories:

• Extending market reach
• Ensuring the ability to scale
• Balancing growth and profit

In the case of the first two categories. A business owner will be confronted with the options to buy, build, or outsource.

Finally, all goals should be set with an eye on the third category. That is balancing growth and profit.

Setting Long-Term Business Goals

Make SMART goals for your company . They should be:

Achieve Your Long-Term Business Goals

Achieve your goals with PAM:

Document your goals and your plan. By committing to them in writing. Then get to work on your long-term goals for a business.

More Reading About Setting And Achieving Goals

• Level up your money game with these articles
• Move your business to this low-tax state
• Avoid these financial problems

Author Bio : Tom Scott founded the consulting and coaching firm Dividends Diversify, LLC. He leverages his expertise and decades of experience in goal setting, relocation assistance, and investing for long-term wealth to help clients reach their full potential.

How to set up and achieve long term goals for a business

What are long-term goals for business?

Long-term goals for business are the high-level goals of your strategy that you aim to achieve in the next 3-5 years or even longer. They are the objectives that, once reached, bring you closer to your vision.

They are the milestones for your vision.

They tend to be resilient to environmental changes like technological, political and others. Long-term goals determine the direction of your company and solidify your strategy regarding your position in the market and the industry. In other words, they outline the high-level objectives you choose to accomplish to bring your vision to life.

Why it’s important to set long-term goals

They provide clarity ..

A business with weak or non-existent long-term goals is like a leaf in the wind.

It moves in no particular direction and is subject to every and any change in the environment. It jumps from trend to trend without understanding what causes them, trying to get as much benefit out of them as possible. Sometimes it succeeds, others not so much. As a result, its performance is a roller coaster and its future unpredictable and uncertain. These kinds of businesses move fast towards nowhere.

A business with no long-term goals is in reactive mode .

On the other hand , organizations with long-term goals deriving from their vision have a more steady course. They have clarity on what they wish to become in the next 3-5 years, which guides their decisions. It’s easier for them to spot meaningful trends and take advantage of them in the short term to succeed in the longer term.

Clarity in the organization’s future state, when combined with a concise view of its current state , is a powerful tool. It enables an accurate gap analysis and the grounding of the strategy in reality.

A business with solid and aligned long-term goals is in proactive mode .

How short-term and long-term goals differ

Long-term goals differ from short-term goals in four key traits:

• Short-term goals are malleable .
• Short-term goals are specific .
• Short-term goals are measurable .
• Short-term goals are sacrificable .

Short-term goals change often. As they should. They correlate to the tactics you choose to pursue your strategic objectives. And your tactics change when the environmental circumstances change, e.g., your competitors launched a new product, a global pandemic came out of nowhere, your country leaves a state union , or a new tech disrupts your industry. All of these changes force you to adapt your short-term expectations and tactics. Your long-term goals are more resilient to these changes.

Short-term goals love specificity. This is goal setting 101. Remove ambiguity and make sure that everybody interprets the goals the same way. Make your language simple and your description longer if you have to. Clarity in goals informs decisions. Of course, long-term goals should be clear, as well, but they don’t have to be so specific. 

Short-term goals have numbers in them. They are not metrics or KPIs because they’re lagging indicators of your progress. But they are indicators nonetheless. They inform you whether you and your people did a good job to achieve them. Long-term goals don’t need numbers if they don’t make sense. For example, “Dominate our category” could be accompanied by a number like “Own 70% of the market”, but that doesn’t exactly sum up what “dominating a category” really is.

Short-term goals are sacrificed for the company’s greater good. We’re past the time where quarterly numbers are the holy grail of strategy. Leadership with a clear vision recognizes that sometimes you have to make short-term sacrifices to achieve long-term success. It’s how you build sustainable and stable growth. The reverse is what creates soaring short-term results but destroys the culture and leads to ethical fading.

How long are short-term and long-term goals

The scale is relative.

A colossus like Amazon can’t really keep up and survive with a strategy shorter than 3 years . The bigger the organization (and its market cap), the longer the span of its long-term goals. Planning for so long ahead allows the company to manage its resources efficiently and direct its effort towards the most promising big move.

In his book “Invent & Wander: The Collected Writings of Jeff Bezos,” Jeff Bezos says that each quarter is baked three years earlier .  Not three months. Not three quarters. Three years. Which means that the numbers of the latest quarter indicate the quality of the company’s 3- year-old strategy. And it makes sense. It’s impossible to coordinate over a million employees if you change the company's direction with every small trend you spot.

Of course, that doesn’t mean the strategy doesn’t adapt to environmental changes.

Complacency is the enterprise killer . Large organizations might be more resilient to threats, but they can become irrelevant very fast, remember Blockbuster and Kodak. However, with size comes one huge advantage. Data. Large organizations have access to huge amounts of data that can generate market insights, spot trends and almost “predict the future.”

Short-term and medium-term goals are decided based on those findings. Due to their dependence on environmental conditions, short-term goals can’t be yearly . Even longer than quarterly is stretching them. In a time of a crisis, short-term goals could be as short as daily and in more peaceful circumstances as long as quarterly.

Long-term goals examples

The further you look into the future, the more uncertain it becomes. The closer your milestones are to your vision, the less specific they become.

Let’s take, for example, The Walt Disney Company . Disney’s vision statement is:

“To be one of the world’s leading producers and providers of entertainment and information.” When Bob Iger took over as Disney’s CEO, his strategy was summed up in three priorities, 3 long-term goals :

• Create content of the highest quality
• Adopt cutting-edge technology to create content & connect with the customers
• Expand globally

These goals are specific enough to guide the decisions of everyone inside the company and are vague enough for everyone to interpret them differently. In other words, they are contextualizing the content of the rest of the strategy.

Other long-term goals examples are:

• Dominate our category
• Create a community-like culture
• Lead the sustainability transformation in our industry
• Create the most comfortable/cheapest/easiest to use [product]
• Digitize our processes

Short-term goals examples

Short-term goals are very specific.

Each department, team and individual has its own short-term goals to meet. What’s important is to have all of them aligned, some shared between teams and people and none isolated. Choosing short-term goals is the last step of your strategy’s implementation and should derive naturally from your strategic priorities.

Here is a list of short-term goals:

• Increase our revenue by 15% by the end of Q1 owned by Jane Doe.
• Reduce safety incidents by 70% by the end of Q1 owned by John Doe.
• Increase customer retention by 30% by the end of Q2 owned by John Doe.
• Hire 5 new salespeople by the end of the month owned by Jane Doe.
• Increase ad conversion by 10% by the end of the next month owned by Jane Doe.

How to set long-term goals

Long-term goals have 3 important components:

• Duration (NOT deadline)
• Specificity to dictate choices
• They are memorable

They don’t have a specific deadline. They have an estimated duration. You don’t “Dominate your category” by Dec 31, 2025. You “Dominate your category” in the next 3 years. If in 3 years you haven’t achieved your goal, then something went wrong. That’s how you should think of your long-term deadline, not as a hard date but as an estimated duration.

They dictate choices. Long-term goals outline the company’s strategy and inform every employee’s decision-making process. Ideally, when a team leader needs to make a decision, crucial or not, they can easily align it with the company’s strategy simply by visiting the long-term goals. That’s why they can’t be overly specific because they will only inform certain types of decisions and be useful to only a limited part of the organization. Thus, creating a big risk of internal misalignment.

They are easy to remember. If your people need to check the company’s long-term priorities every time they make a decision, they won’t. Make sure everyone understands and is on board with your priorities by simply making them memorable. In the end, you want the priorities to provide context, not represent all of your strategy’s details.

Benchmark the duration of your goals externally

Take as much guessing as possible out of the process. Have a hard look at your industry’s history and how long it took certain players to achieve their long-term aspirations. Find out what were their strengths, weaknesses and mistakes . Contrast them to yours and then make an educated estimation of your goal’s duration.

Do better than “best”

Shy away from generic goals like “be the best/first/most innovative.” Nobody perceives these the same way. For example, specify your ideal customer so your people know who NOT to target. Specify your product’s niche , e.g., “perfect scale models” instead of “just toys.” In essence, provide a context to decisions that will dictate a clear set of choices on every organizational level.

Write them for 5-year-olds

If a young child can’t understand your long-term goals, chances are your people will have a hard time remembering them. Simplify the language, avoid jargon, use verbs and be specific in your adjectives . Go beyond 3 goals and you risk giving your people contradicting priorities. Clarity unifies collective effort towards one direction .

How to achieve long-term goals in business

With shorter-term goals.

When you write your strategic plan , start from the end and work your way backward from your vision towards your current state. Here’s how to think about your plan:

• Your vision is your destination.
• Your long-term goals are your milestones.
• Your shorter-term goals are your odometer.

Your strategic plan also contains your Focus Areas and your strategic objectives . They break down your direction even further. 

Starting with the end in mind gives your shorter-term goals a predictive power

So basically, your strategic plan works like a roadmap towards your long-term goals. Here’s how to think about tracking your progress: if you complete all of your strategic objectives, will you have achieved your long-term goals? If you haven’t achieved at least an 80% progress towards them, your tracking is off. You need to revisit your strategic objectives.

This tracking process cascades from the top of the strategic plan to the bottom. Check out how Cascade brings this strategic model to life and aligns your people’s day-to-day work with your company’s vision as a goal management software .

Popular articles

Porter's Five Forces: Complete Guide, Examples & Template

Viva Goals Vs. Cascade: Goal Management Vs. Strategy Execution

What Is A Maturity Model? Overview, Examples + Free Assessment

How To Implement The Balanced Scorecard Framework (With Examples)

Your toolkit for strategy success.

Examples of Effective Short-Term, Mid-Term, and Long-Term Business Goals

By Kate Eby | September 7, 2023

• Share on Facebook
• Share on LinkedIn

Link copied

Setting effective goals is vital to your business’s success. Good goals help organizations move forward and keep employees on track. We’ve talked with experts and gathered examples of solid short-term, mid-term, and long-term business goals.

Included on this page, you’ll find examples of long-term , mid-term , and short-term business goals and how they work together. Plus, check out an easy-to-read chart on which framework is best for setting time-based goals and a free, downloadable goal-setting worksheet that can help your team create your goals.

Common Time Ranges for Different Business Goals

Companies set large overarching goals to achieve in two to five years. To attain long-term goals, set goals with shorter time frames that work toward the long-term objective. Depending on the type of goal, some experts might refer to it as a strategy or an objective . However, there is a difference between a goal, an objective , and a strategy. 

Examples of Long-Term Business Goals

Long-term goals focus on the big-picture vision for the future of the organization, generally covering two years or longer. They typically don’t cover more than five years, since the business and technology environment can change drastically after that time frame.

Long-term goals are more aspirational and might not have the specificity of short-term and mid-term goals. “These goals ought to be aligned with the overall vision of the company,” says Izzy Galicia, President and CEO of global professional services firm the Incito Consulting Group and an expert in Lean enterprise transformation.

The long-term goals also must be realistic. “We know from the literature and practical experience that you want goals that are challenging, but they're also achievable. You don't want to have a goal that people don't buy into at all, or it's just so outrageous that you can't possibly achieve it,” explains Lee Frederiksen, managing partner of Virginia-based Hinge Marketing and former Director for Strategy and Organizational Development at Ernst & Young.

Here are four examples of long-term business goals:

• Increase Sales: A common long-term goal is to increase sales significantly. A company might establish a long-term goal of increasing total sales by 40 percent in three years.
• Become Niche Leader: Another company might have its sights on becoming dominant in its industry. It would set a long-term goal of becoming the leader in its market niche in four years.
• Expand Company Locations: Adding storefronts over the next few years is also a common long-term goal. A company with that aim would set a long-term goal of expanding its one restaurant location to four locations in four years.
• Create and Develop a Non-Profit Entity: An organization or group of people can also establish a long-term goal of establishing a successful nonprofit organization focused on environmental conservation.

Examples of Mid-Term Business Goals

Mid-term goals help an organization meet a long-term goal. They can take an organization six months to two years or so to reach. 

Here are examples of mid-term goals that will help a company reach a specific long-term goal: 

A company’s long-term goal is to open three more restaurants in the next four years. These examples are some of the mid-term goals they would need to achieve first:

• Systematize Standard Operating Procedures for Running the Restaurant: The mid-term goal would be to document and systematize its standard operating procedures to efficiently operate its original restaurant within a year.
• Develop a Hiring Process That Attracts Talented Employees: The company sets a goal of developing and implementing a hiring process to attract committed employees in the next 14 months. 
• Research and Evaluate the Best Locations to Open the New Restaurants: The company would set a goal of continually scouting and evaluating possible locations for new restaurants over the next two years.

A group of people have the goal of creating a successful nonprofit organization in five years. Here are some examples of mid-term goals they would set and meet first:

• Establish Partnerships with Local Environmental Organizations: The group of people would like to start a nonprofit focused on environmental conservation. A mid-term goal would be to develop and establish partnerships with key local environmental organizations within the next two years.
• Develop and Implement a Solid Fundraising Strategy: The nonprofit needs funding to be successful. The organization would set a mid-term goal of developing an effective fundraising strategy within the next 18 months.
• Build a Dedicated Team of Volunteers: To help it reach its long-term goal of establishing a successful nonprofit focused on environmental conservation, the organization would set a goal of building a system to attract and retain volunteers for the organization within the next year.

Examples of Short-Term Business Goals

Short-term business goals encompass work that helps an organization reach its mid-term goals. These goals are often meant to be reached in a month or a quarter. Some might take six months or so to accomplish. Only one department — or even only one worker — might work on some short-term goals.

Some experts call short-term goals objectives. They might call the shortest short-term goals tactics . (Learn more about the differences between business goals vs. business objectives and strategies vs. tactics .)

“If one of my goals is to develop a content strategy — so that more people are aware of my company — I can't jump into Year Three and say, ‘I have a content strategy,’” shares Keith Speers, CEO of Consulting Without Limits , which provides business consulting, leadership coaching, fractional leadership, and other consulting services. “Part of that one- to three-year plan is developing my audience, curating them, creating content, and establishing myself as someone who's a thought leader in a specific field. All of that requires establishing short-term goals or objectives.”

The short-term goals or objectives are “more about the measurable steps or actions to take in order to reach that (mid- or long-term) goal,” states Marco Scanu, a business coach and CEO of Miami-based Visa Business Plans , a consulting firm providing attorneys and investors with business planning services.

Here are examples of short-term goals to build toward achieving the mid-term goals associated with expanding a company’s restaurant count from one to four: 

• Assemble a Team to Develop a Standard Operating Procedures (SOP) Document for Current and Future Locations: To help reach the goal of systematizing its SOP for running its original restaurant, the company would set a short-term goal of developing a SOP document for the company’s original and future locations by the end of the next quarter.
• Work With an HR Consultant to Attract and Retain Qualified Staff: To reach the mid-term goal of developing a hiring process that attracts talented workers who will stay with the company, the business would set a goal of hiring and working with a human resources consultant to find ways to attract and retain employees within the next month.
• Create an Internal Team to Improve Compensation and Increase Retention: To reach the goal of developing a prosperous hiring process, the company would set a short-term goal of forming an internal team to assess ways to improve employee compensation and retention within the next two months.
• Research Demographic/Economic Trends in the Metro Area: To achieve the goal of researching and evaluating the best locations for new restaurants, the company would set a short-term goal of researching demographic and economic trends within neighborhoods where they want to add new restaurants.
• Work With a Real Estate Agency to Find Potential Buildings: To complete the mid-term goal of researching and evaluating the best locations for new restaurants, the company would set a goal of hiring and working with a real estate agency within the next two weeks. The real estate agent would continually search for good locations for possible new restaurants.

Here are examples of short-term goals necessary for a group of people to create a successful environmental conservation nonprofit:

• Research and Identify Potential Partner Organizations and Establish Connections: To reach the mid-term goal of establishing partnerships with local environmental organizations, the founding group would set a goal of identifying specific organizations that might be good partners and connecting with their representatives in the next six weeks.
• Research Grant Applications, Methods for Individual Donations, and Fundraising Events: To reach the goal of developing a solid fundraising strategy, the organization would set a short-term goal of researching the elements of  a fundraising plan that includes grant applications, individual donations, and fundraising events.
• Identify and Collect Contact Details of Potential Volunteers: To build a dedicated team of volunteers, the organization would set a goal of meeting and collecting contact details of potential volunteers over the next four months.

Examples of Short- and Mid-Term Business Goals Contributing to Long-Term Goals

These examples break down how to strategically set short- and mid-term goals to achieve a company’s long-term more visionary goals. “I think of short-term and mid-term goals as stepping stones to your long-term goals, things you have to accomplish to be able to get to the next goal,” Frederiksen explains.

• Short-Term Goal: Use customer relationship management (CRM) software to gather better information about potential and existing customers.
• Short-Term Goal: Increase production of website content.
• Short-Term Goal: Create and implement a new Google ad strategy.
• Short-Term Goal: Establish an engineering and product team to tweak product features.
• Short-Term Goal: Hire a new vice president of sales. 
• Short-Term Goal: Add three new members to the overseas sales team.
• Short-Term Goal: Hire a rebranding consultant.
• Short-Term Goal: Hire a contractor to lead the website redesign.
• Short-Term Goal: Find more opportunities for the new CEO to speak at industry events.
• Short-Term Goal: Become a key sponsor of an annual industry conference.
• Short-Term Goal: Empower the marketing vice president to pursue other sponsorship opportunities.

Business Goal-Setting Frameworks

When setting goals, it helps to use an established framework. Experts point out that, in setting business goals, people most often use one of five goal frameworks . Those frameworks are SMART, management by objectives (MBO), objectives and key results (OKR), key results areas (KRA) , or big hairy audacious goals (BHAG). Here are details on each of these business goal-setting frameworks and which goal length they work best for:

Which Business Goal-Setting Framework to Use

Learn more about goal-setting frameworks and use goal-setting and goal-tracking templates to get started working on your goals.

Business Goals Worksheet Template for Excel

Download the Business Goals Worksheet Template for Excel

Use this free template to guide your team in setting long-, mid-, and short-term business goals. Identify long-term goals, and then the mid-term and short-term goals that serve them. You have room to add any tasks and actions that must be completed to reach those goals. The downloadable worksheet is fully customizable.

Improve Your Goal-Setting With Real-Time Work Management in Smartsheet

Empower your people to go above and beyond with a flexible platform designed to match the needs of your team — and adapt as those needs change. 

The Smartsheet platform makes it easy to plan, capture, manage, and report on work from anywhere, helping your team be more effective and get more done. Report on key metrics and get real-time visibility into work as it happens with roll-up reports, dashboards, and automated workflows built to keep your team connected and informed. 

When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time.  Try Smartsheet for free, today.

Discover why over 90% of Fortune 100 companies trust Smartsheet to get work done.

11 Tips for Creating a Long-Term Strategic Plan

7 min. read

Updated October 29, 2023

Strategic planning is a management tool that guides your business to better performance and long-term success.

Working with a plan will focus your efforts, unify your team in a single direction, and help guide you through tough business decisions. A strategic plan requires you to define your goals, and in defining them, enables you to achieve them—a huge competitive advantage.

In this article, we’ll discuss 11 essentials for creating a thorough and effective strategic plan. Each tip is a critical stepping stone in leading your business toward your goals.

• 1. Define your company vision

You should be able to define your company vision in 100 words. Develop this statement and make it publically available to both employees and customers.

This statement should answer the key questions that drive your business: Where is your company headed? What do you want your company to be? If you don’t know the answer to these questions off the top of your head, then you have some thinking to do! If you have the answers in your head, but not on paper—get writing.

If you have them written down, congrats! You’ve completed the first and most critical step in creating a long-term strategic plan.

• 2. Define your personal vision

While your personal vision is just as important to your strategic plan, it does not need to be shared with your team and customers.

Your personal vision should incorporate what you want your business to bring to your life—whether that’s enormous growth, early retirement, or simply more time to spend with family and friends.

Aligning your personal vision with your company vision is key to achieving your personal and professional goals. Just as with your company vision, have your personal vision written down in a 100-word statement. Know that statement inside and out and keep it at the forefront of your decision making.

• 3. Know your business

Conduct a SWOT (strengths, weaknesses, opportunities, and threats) analysis. By knowing where your business is now, you can make more informed predictions for how it can grow.

Questions such as “Why is this business important?” and “What does this business do best?” are a great place to start. A SWOT analysis can also help you plan for making improvements.

Questions such as “What needs improvement?” and “What more could the business be doing?” can help guide your strategic plan in a way that closes gaps and opens up opportunities.

For more on completing a SWOT analysis, see our SWOT analysis guide.

Brought to you by

Create a professional business plan

Using ai and step-by-step instructions.

Secure funding

Validate ideas

Build a strategy

• 4. Establish short-term goals

Short-term goals should include everything you (realistically) want to achieve over the next 36 months.

Goals should be “S.M.A.R.T.” (specific, measurable, actionable, reasonable, and timely).

An example of S.M.A.R.T. goals include “building out a new product or service within the next year” or “increasing net profit by 2 percent in ten months.” If you’ve already conducted a SWOT analysis, you should have an idea of what your business can reasonably achieve over a specified period of time.

• 5. Outline strategies

Strategies are the steps you’ll take to meet your short-term goals. If the short term goal is “build out a new product or service,” the strategies might be:

• Researching competitor offerings
• Getting in touch with vendors and suppliers
• Formulating a development plan
• Outlining a marketing and sales plan for the new offering
• 6. Create an action plan

An action plan is an essential part of the business planning and strategy development process. The best analysis, in-depth market research, and creative strategizing are pointless unless they lead to action.

An action plan needs to be a working document; it must be easy to change and update. But, must also be specific about what you’re doing, when you will do it, who will be accountable, what resources will be needed, and how that action will be measured.

Action plans put a process to your strategies. Using the previous example, an action plan might be: “CMO develops competitor research packet for new offerings by 9/1. Review packet with the executive team by 9/15.”

When The Alternative Board, Bradford West  Director Andrew Hartley was responsible for designing and delivering a three year, $10m environmental business support program, a full and detailed action plan was required for funding.

“That action plan allowed me to 1.) manage and measure the evolving program, 2.) ensure resources and staff were where they needed to be, and 3.) track whether the design of the program was working and delivering the level of results we were contracted to deliver,” says Hartley.

“Even I was surprised about how helpful that action plan was,” he says. “I cannot image approaching any significant project or business without one.”

• 7. Foster strategic communication

To align your team, you must communicate strategically. Results-driven communication focuses conversations and cuts out excessive meetings. Every communication should be rooted in a specific goal.

Include the how, where, when, and most importantly why every time you deliver instructions, feedback, updates, and so on.

• 8. Review and modify regularly

Check in regularly to make sure you’re progressing toward your goals. A weekly review of your goals, strategies, and action plans can help you see if you need to make any modifications.

Schedule time in your calendar for this. Weekly check-ins allow you to reassess your plan in light of any progress, setbacks, or changes.

• 9. Hold yourself accountable

Having a business coach or mentor is great for this. If you have a hard time sticking to your plans, you’ll have an equally hard time meeting your goals.

According to The Alternative Board’s September 2015 Business Pulse Survey, the number one reason business owners choose to work with mentors is accountability.

“Having a close—but not too close—space for advice and accountability is really valuable,” says TAB Member Scott Lininger, CEO of Bitsbox. “Someone who is too close to your business (such as board members) often have a perspective that’s too similar to your own. Over time, your coach comes to know your team, your product, and your business, and they help you work through all kinds of challenges in a way that’s unique.”

“All too often I find that leaders accept underperformance against their strategic plan too easily,” adds Hartley. “A coach can rekindle the resolve and ambition of the leader, resulting in a recovery of lost margins, sales, or output.”

According to Hartley, a coach can build accountability by questioning what’s working, making sure everything’s on track, pointing out areas of underperformance, and asking what corrective action needs to be pursued.

• 10. Be adaptable

Remember: You can’t plan for everything. Just as challenges will arrive, so too will opportunities, and you must be ready at a moment’s notice to amend your plan. Weekly reviews will help enormously with this.

“A strategic plan will likely need to be changed very soon after approval because nobody can accurately predict anything but the very near term future,” says Jim Morris, owner and President of The Alternative Board, Tennessee Valley. “You stay adaptable by monitoring the plan every day. The wise leader will be constantly looking for opportunities to exceed the strategic plan by being opportunistic, creative, and by exploiting weaknesses in the competitive market.”

By doing this, Morris was able to exceed forecast results of every strategic plan he ever approved. “The times when I needed to be flexible were when we met strategic plan goals ahead of time and had to rewrite the plan to keep it current and relevant.”

It’s important to be adaptable because nothing stays the same. “It’s more important to be agile and take advantage of opportunities that weren’t foreseen and make adjustments,” says Morris. “This and a continuous improvement mindset is the best way to exceed plan goals.”

• 11. Create a strategic planning team

As a business owner, you should never feel like you have to do everything alone.

A strategic planning team can help with every phase of the process, from creating a company vision to adapting your strategy week-to-week. Compose your team of key management staff and employees—some visionaries and some executors.

If you think you’re “too busy” for start strategic planning, then you need strategic planning more than you know. Having a focused plan allows you to focus your energies, so you’re working on your business, rather than in it. As a business owner, it is your responsibility to steer the ship, not put out day-to-day fires.

Yes, creating a strategic plan is challenging, and it’s certainly time-consuming, but it will make all the difference in achieving your long term goals. You’ll avoid making bad decisions and expending more effort than you need.

Try these 11 tips to get started, and then be flexible in your ongoing approach. You’ll be amazed at how much more streamlined your business processes will become when you are working with a long-term strategic plan.

Jodie Shaw is The Alternative Board (TAB)’s Chief Marketing Officer. She brings over 20 years of B2B marketing and 10 years in franchising to the role. Prior to to her work with TAB, Jodie served as the CEO and Global Chief Marketing Officer of an international business coaching franchise, serving more than 50 countries.

Table of Contents

Related Articles

10 Min. Read

How to Set Business Management Standards for Your Small Business

5 Min. Read

How to Implement a Zero Waste Strategy for Your Business

4 Min. Read

Signs That It’s Time to Pivot Your Business and How to Do It

7 Min. Read

3 Questions to Help Build Your Business Strategy

The Bplans Newsletter

The Bplans Weekly

Subscribe now for weekly advice and free downloadable resources to help start and grow your business.

We care about your privacy. See our privacy policy .

The quickest way to turn a business idea into a business plan

Fill-in-the-blanks and automatic financials make it easy.

No thanks, I prefer writing 40-page documents.

Discover the world’s #1 plan building software

Is Your Website Killing the Planet?

The Financial Industry's Role in Reaching Net Zero

The Challenges of Transitioning to Electric Vehicles

How is Big Data Changing the Way Businesses Operate?

Planning a Financial Presentation: What Do You Need to Cover?

What are the Most Common Diversity Issues in the Workplace?

What Industries are Considered to be the Most Damaging to the Environment?

Companies Helping Clean the World's Most Polluted Rivers

The Growing Use of Blockchain Technology

How Can Your Business Gain from Levelling Up?

Creating a Long-Term Business Plan: What Should You Consider?

• By Lynne Pratt
• on 28th June, 2023

71% of the fastest growing companies have a written business plan, and those who actually complete their business plan are twice as likely to succeed in growing their business (compared to those with no plans). Over time and with experience, you’ll find yourself having more things to plan for, and aren’t just looking at having one single long-term business plan to last your business a lifetime.

When creating business plans, you’re going to need to look at the short, mid, and long-term objectives of the company, and determine where you want to go, what you want to do – and how you plan on getting there to do it.

The long-term business plan can be one of the most daunting to piece together, as it often involves objectives and goals rather than specific timeframes or immediate actions that can be completed.

When putting together your long-term plan, there are a number of elements you need to carefully consider, and areas that need to be covered to make the plan useful, useable, and flexible enough to adapt over time.

Define Your Vision

Whether this is a plan for the entire company, or a single project – you need to start at the beginning. What is the vision for this plan? What are the big goals that you want to achieve with the plan?

At this stage, they don’t necessarily need to be data-driven or realistic, these are the best-case scenario and ultimate objectives that you’re identifying here, later on you may need to streamline them or remove them from the plan if they prove to be unobtainable, but for now you want to create your wish list of results.

Identify and Agree on Your Goals

Now is when you shortlist your goals and look at what is achievable – you need to evaluate what is going to have the biggest benefits, what will take the most time (and the least) and what are the priorities for success.

Determine a Preliminary Budget

It is unlikely that your budget will remain static throughout the process, but you need to at least have a general idea of what you are prepared to spend, and how much of the budget will be allocated to each part of the process.

Determining your budget may also see you returning to your goals and making changes to the priorities and whether you intend to go ahead with parts of the plan.

Create an Outline Strategy

Once you have the goals and tasks agreed, you need to work out how they’re going to be done – what needs to be done first, what is reliant on other parts of the process to proceed, and what needs to be implemented to ensure accurate monitoring and evaluation of the strategy as it rolls out.

Set Up Communication and KPIs

Long-term strategies often rely on other tasks being completed over time, or certain actions being taken at certain periods. You must set up a system to monitor the activities and actions and ensure that regular reports contain the right data – you need the right KPIs to ensure you know exactly what the current standing of the project is, and whether any changes need to be made. You also need to ensure you have a robust communication network ready, so action can be taken when needed, whenever it’s needed.

SIGN UP TO OUR NEWSLETTER

We do not sell our lists, and you can easily unsubscribe if you so wi​sh.

Assign Responsibilities

You might be planning on a company wide task, where everyone is involved – but there should always be a main point of contact, and someone who has the responsibility of overseeing the project. This will help to make sure goals and milestones are met, that the right tasks are being done in the right order, and that the long-term goal is still obtainable.

When you create a long-term strategy, you need to think about the present and the future of the company – it is essential that you monitor the industry and your competitors and are flexible in your approach to achieving the best results.

The longer period of time you stretch your plan across, the more likely it is that there will be changes or alterations needed along the way, and it is also important to recognise that some plans, through no reason other than industry change, are not going to reach completion – knowing when to stop, and being able to absorb the risk involved in starting the plan is equally important.

Your business will grow, evolve, and change as time goes by – you need to ensure your goals within your long-term business plan remain accurate and relevant to your business needs.

Related Articles

FutureBusiness leads you through the evolution of sustainability, diversity, leadership, and helps you shape your future business

Keep in touch

Our weekly newsletter has news on the latest business thinking to help make your business fit for the future, subscribe to our newsletter.

Sign up to our weekly newsletter and keep on top of the latest current and future business thinking

We do not sell our lists, and you can easily unsubscribe if you so wish

• Build your business

Business Tools

• Profit Margin Calculator
• Business Name Generator
• Slogan Generator
• Traffic Calculator
• Ecommerce Statistics
• Ecommerce Wiki

Free business tools

Start a business and design the life you want – all in one place.

• © 2015-2024 Oberlo

The 7 Best Business Plan Examples (2024)

As an aspiring entrepreneur gearing up to start your own business , you likely know the importance of drafting a business plan. However, you might not be entirely sure where to begin or what specific details to include. That’s where examining business plan examples can be beneficial. Sample business plans serve as real-world templates to help you craft your own plan with confidence. They also provide insight into the key sections that make up a business plan, as well as demonstrate how to structure and present your ideas effectively.

Example business plan

To understand how to write a business plan, let’s study an example structured using a seven-part template. Here’s a quick overview of those parts:

• Executive summary: A quick overview of your business and the contents of your business plan.
• Company description: More info about your company, its goals and mission, and why you started it in the first place.
• Market analysis: Research about the market and industry your business will operate in, including a competitive analysis about the companies you’ll be up against.
• Products and services: A detailed description of what you’ll be selling to your customers.
• Marketing plan: A strategic outline of how you plan to market and promote your business before, during, and after your company launches into the market.
• Logistics and operations plan: An explanation of the systems, processes, and tools that are needed to run your business in the background.
• Financial plan: A map of your short-term (and even long-term) financial goals and the costs to run the business. If you’re looking for funding, this is the place to discuss your request and needs.

7 business plan examples (section by section)

In this section, you’ll find hypothetical and real-world examples of each aspect of a business plan to show you how the whole thing comes together. 

• Executive summary

Your executive summary offers a high-level overview of the rest of your business plan. You’ll want to include a brief description of your company, market research, competitor analysis, and financial information. 

In this free business plan template, the executive summary is three paragraphs and occupies nearly half the page:

• Company description

You might go more in-depth with your company description and include the following sections:

• Nature of the business. Mention the general category of business you fall under. Are you a manufacturer, wholesaler, or retailer of your products?
• Background information. Talk about your past experiences and skills, and how you’ve combined them to fill in the market. 
• Business structure. This section outlines how you registered your company —as a corporation, sole proprietorship, LLC, or other business type.
• Industry. Which business sector do you operate in? The answer might be technology, merchandising, or another industry.
• Team. Whether you’re the sole full-time employee of your business or you have contractors to support your daily workflow, this is your chance to put them under the spotlight.

You can also repurpose your company description elsewhere, like on your About page, Instagram page, or other properties that ask for a boilerplate description of your business. Hair extensions brand Luxy Hair has a blurb on it’s About page that could easily be repurposed as a company description for its business plan. 

• Market analysis

Market analysis comprises research on product supply and demand, your target market, the competitive landscape, and industry trends. You might do a SWOT analysis to learn where you stand and identify market gaps that you could exploit to establish your footing. Here’s an example of a SWOT analysis for a hypothetical ecommerce business: 

You’ll also want to run a competitive analysis as part of the market analysis component of your business plan. This will show you who you’re up against and give you ideas on how to gain an edge over the competition. 

• Products and services

This part of your business plan describes your product or service, how it will be priced, and the ways it will compete against similar offerings in the market. Don’t go into too much detail here—a few lines are enough to introduce your item to the reader.

• Marketing plan

Potential investors will want to know how you’ll get the word out about your business. So it’s essential to build a marketing plan that highlights the promotion and customer acquisition strategies you’re planning to adopt. 

Most marketing plans focus on the four Ps: product, price, place, and promotion. However, it’s easier when you break it down by the different marketing channels . Mention how you intend to promote your business using blogs, email, social media, and word-of-mouth marketing. 

Here’s an example of a hypothetical marketing plan for a real estate website:

Logistics and operations

This section of your business plan provides information about your production, facilities, equipment, shipping and fulfillment, and inventory.

Financial plan

The financial plan (a.k.a. financial statement) offers a breakdown of your sales, revenue, expenses, profit, and other financial metrics. You’ll want to include all the numbers and concrete data to project your current and projected financial state.

In this business plan example, the financial statement for ecommerce brand Nature’s Candy includes forecasted revenue, expenses, and net profit in graphs.

It then goes deeper into the financials, citing:

• Funding needs
• Project cash-flow statement
• Project profit-and-loss statement
• Projected balance sheet

You can use Shopify’s financial plan template to create your own income statement, cash-flow statement, and balance sheet. 

Types of business plans (and what to write for each)

A one-page business plan is a pared down version of a standard business plan that’s easy for potential investors and partners to understand. You’ll want to include all of these sections, but make sure they’re abbreviated and summarized:

• Logistics and operations plan
• Financials 

A startup business plan is meant to secure outside funding for a new business. Typically, there’s a big focus on the financials, as well as other sections that help determine the viability of your business idea—market analysis, for example. Shopify has a great business plan template for startups that include all the below points:

• Market research: in depth
• Financials: in depth

Your internal business plan acts as the enforcer of your company’s vision. It reminds your team of the long-term objective and keeps them strategically aligned toward the same goal. Be sure to include:

• Market research

Feasibility 

A feasibility business plan is essentially a feasibility study that helps you evaluate whether your product or idea is worthy of a full business plan. Include the following sections:

A strategic (or growth) business plan lays out your long-term vision and goals. This means your predictions stretch further into the future, and you aim for greater growth and revenue. While crafting this document, you use all the parts of a usual business plan but add more to each one:

• Products and services: for launch and expansion
• Market analysis: detailed analysis
• Marketing plan: detailed strategy
• Logistics and operations plan: detailed plan
• Financials: detailed projections

Free business plan templates

Now that you’re familiar with what’s included and how to format a business plan, let’s go over a few templates you can fill out or draw inspiration from.

Bplans’ free business plan template

Bplans’ free business plan template focuses a lot on the financial side of running a business. It has many pages just for your financial plan and statements. Once you fill it out, you’ll see exactly where your business stands financially and what you need to do to keep it on track or make it better.

PandaDoc’s free business plan template

PandaDoc’s free business plan template is detailed and guides you through every section, so you don’t have to figure everything out on your own. Filling it out, you’ll grasp the ins and outs of your business and how each part fits together. It’s also handy because it connects to PandaDoc’s e-signature for easy signing, ideal for businesses with partners or a board.

Miro’s Business Model Canvas Template

Miro’s Business Model Canvas Template helps you map out the essentials of your business, like partnerships, core activities, and what makes you different. It’s a collaborative tool for you and your team to learn how everything in your business is linked.

Better business planning equals better business outcomes

Building a business plan is key to establishing a clear direction and strategy for your venture. With a solid plan in hand, you’ll know what steps to take for achieving each of your business goals. Kickstart your business planning and set yourself up for success with a defined roadmap—utilizing the sample business plans above to inform your approach.

Business plan FAQ

What are the 3 main points of a business plan.

• Concept. Explain what your business does and the main idea behind it. This is where you tell people what you plan to achieve with your business.
• Contents. Explain what you’re selling or offering. Point out who you’re selling to and who else is selling something similar. This part concerns your products or services, who will buy them, and who you’re up against.
• Cash flow. Explain how money will move in and out of your business. Discuss the money you need to start and keep the business going, the costs of running your business, and how much money you expect to make.

How do I write a simple business plan?

To create a simple business plan, start with an executive summary that details your business vision and objectives. Follow this with a concise description of your company’s structure, your market analysis, and information about your products or services. Conclude your plan with financial projections that outline your expected revenue, expenses, and profitability.

What is the best format to write a business plan?

The optimal format for a business plan arranges your plan in a clear and structured way, helping potential investors get a quick grasp of what your business is about and what you aim to achieve. Always start with a summary of your plan and finish with the financial details or any extra information at the end.

Want to learn more?

• Question: Are You a Business Owner or an Entrepreneur?
• Bootstrapping a Business: 10 Tips to Help You Succeed
• Entrepreneurial Mindset: 20 Ways to Think Like an Entrepreneur
• 101+ Best Small Business Software Programs 

• Starting a Business

Our Top Picks

• Best Small Business Loans
• Best Business Internet Service
• Best Online Payroll Service
• Best Business Phone Systems

Our In-Depth Reviews

• OnPay Payroll Review
• ADP Payroll Review
• Ooma Office Review
• RingCentral Review

Explore More

• Business Solutions
• Entrepreneurship
• Franchising
• Best Accounting Software
• Best Merchant Services Providers
• Best Credit Card Processors
• Best Mobile Credit Card Processors
• Clover Review
• Merchant One Review
• QuickBooks Online Review
• Xero Accounting Review
• Financial Solutions

Human Resources

• Best Human Resources Outsourcing Services
• Best Time and Attendance Software
• Best PEO Services
• Best Business Employee Retirement Plans
• Bambee Review
• Rippling HR Software Review
• TriNet Review
• Gusto Payroll Review
• HR Solutions

Marketing and Sales

• Best Text Message Marketing Services
• Best CRM Software
• Best Email Marketing Services
• Best Website Builders
• Textedly Review
• Salesforce Review
• EZ Texting Review
• Textline Review
• Business Intelligence
• Marketing Solutions
• Marketing Strategy
• Public Relations
• Social Media
• Best GPS Fleet Management Software
• Best POS Systems
• Best Employee Monitoring Software
• Best Document Management Software
• Verizon Connect Fleet GPS Review
• Zoom Review
• Samsara Review
• Zoho CRM Review
• Technology Solutions

Business Basics

• 4 Simple Steps to Valuing Your Small Business
• How to Write a Business Growth Plan
• 12 Business Skills You Need to Master
• How to Start a One-Person Business
• FreshBooks vs. QuickBooks Comparison
• Salesforce CRM vs. Zoho CRM
• RingCentral vs. Zoom Comparison
• 10 Ways to Generate More Sales Leads

Business.com aims to help business owners make informed decisions to support and grow their companies. We research and recommend products and services suitable for various business types, investing thousands of hours each year in this process.

As a business, we need to generate revenue to sustain our content. We have financial relationships with some companies we cover, earning commissions when readers purchase from our partners or share information about their needs. These relationships do not dictate our advice and recommendations. Our editorial team independently evaluates and recommends products and services based on their research and expertise. Learn more about our process and partners here .

Writing a Business Growth Plan

Look ahead and plan for business growth and revenue increases.

Table of Contents

When you run a business, it’s easy to get caught in the moment and focus only on the day in front of you. However, to be truly successful, you must look ahead and plan for growth. Many business owners create a business growth plan to map out the next one or two years and pinpoint how and when revenues will increase. 

We’ll explain more about business growth plans and share strategies for writing a business growth plan that can set you on a path to success. 

What is a business growth plan?

A business growth plan outlines where a company sees itself in the next one to two years. Business owners and leaders apply a growth mindset to create plans for expansion and increased revenues.

Business growth plans should be formatted quarterly. At the end of each quarter, the company can review the business goals it achieved and missed during that period. At this point, management can revise the business growth plan to reflect the current market standing.

What to include in a business growth plan

A business growth plan focuses specifically on expansion and how you’ll achieve it. Creating a useful plan takes time, but keeping your growth efforts on track can pay off substantially.

You should include the following elements in your growth plan:

• A description of expansion opportunities
• Financial goals broken down by quarter and year
• A marketing plan that details how you’ll achieve growth
• A financial plan to determine what capital is accessible during growth
• A breakdown of your company’s staffing needs and responsibilities

How to write a business growth plan

To successfully write a business growth plan, you must do some forward-thinking and research. Here are some key steps to follow when writing your business growth plan.

1. Think ahead.

The future is always unpredictable. However, if you study your target market, your competition and your company’s past growth, you can plan for future expansion. The Small Business Administration (SBA) features a comprehensive guide to writing a business plan for growth.

2. Study other growth plans.

Before you start writing, review models from successful companies.

3. Discover opportunities for growth.

With some homework, you can determine if your expansion opportunities lie in creating new products , adding more services, targeting a new market, opening new business locations or going global, to name a few examples. Once you’ve identified your best options for growth, include them in your plan.

4. Evaluate your team.

Your plan should include an assessment of your employees and a look at staffing requirements to meet your growth objectives. By assessing your own skills and those of your employees, you can determine how much growth can be accomplished with your present team. You’ll also know when to ramp up the hiring process and what skill sets to look for in those new hires.

5. Find the capital.

Include detailed information on how you will fund expansion. Business.gov offers a guide on how to prepare funding requests and how to connect with SBA lenders.

6. Get the word out.

Growing your business requires a targeted marketing effort. Be sure to outline how you will effectively market your business to encourage growth and how your marketing efforts will evolve as you grow.

7. Ask for help.

Advice from other business owners who have enjoyed successful growth can be the ultimate tool in writing your growth plan.

8. Start writing.

Business plan software has streamlined the process of writing growth plans by providing templates you can fill in with information specific to your company and industry. Most software programs are geared toward general business plans; however, you can easily modify them to create a plan that focuses on growth. 

If you don’t have business plan software, don’t worry. You can create a business growth plan using Microsoft Word, Google Docs or a similar tool. For each growth opportunity, create the following sections: 

• What is the opportunity? Is your growth opportunity a new geographic expansion, a new product or a new customer segment? How do you know there’s an opportunity? Include your market research to demonstrate the idea’s viability.
• What factors make this opportunity valuable at this time? For example, your growth opportunity could utilize new technology, take advantage of a strategic partnership or capitalize on a consumer trend.
• What are the risk factors for this opportunity? Identify factors that may make this growth opportunity challenging to execute. For example, challenges may include the state of the overall economy, intense competition or supply chain distribution issues. What is your plan for dealing with these challenges?
• What is your marketing and sales plan? Identify the marketing efforts and sales processes that can help you seize this growth opportunity. Detail the marketing channel you’ll use ( social media marketing , print marketing), your message and promising sales ideas. For example, you could hire sales reps for a new geographic area or set up distribution deals with relevant brick-and-mortar or online retailers .
• What are the costs involved in this growth area? For example, if you add a new product, you may need to buy new manufacturing equipment and raw materials. While marketing costs are a given, remember to include incremental sales costs like commissions. Outline any economies of scale or places where your existing operations make the new growth area less expensive than a stand-alone initiative.
• How will your income, expenses and cash flow look? Project your income and expenses, and prepare a cash flow statement for the new growth area for the next three to five years. Include a break-even analysis, a sales forecast and all projected expenses to see how much the new initiative will add to the bottom line. Include how the new growth area will positively (or negatively) impact existing sales. For example, if you sell bathing suits and you decide to grow by adding cover-ups and sunglasses, you will likely sell more bathing suits. 

After completing this exercise for each growth opportunity:

• Create a summary that accounts for all growth areas for the period.
• Include summarized financial statements to see the entire picture and its impact on the company. 
• Evaluate the financing you’ll need to implement the plan, and include various options and rates. 

Why are business growth plans important?

These are some of the many reasons why business growth plans are essential:

• Market share and penetration: If your market share remains constant in a world where costs consistently increase, you’ll inevitably start recording losses instead of profits. Business growth plans help you avoid this scenario.
• Recouping early losses: Most companies lose far more than they earn in their early years. To recoup these losses, you’ll need to grow your company to a point where it can make enough revenue to pay off your debts.
• Future risk minimization: Growth plans also matter for established businesses. These companies can always stand to make their sales more efficient and become more liquid. Liquidity can come in handy if you need money to cover unexpected problems.
• Appealing to investors: For most businesses, a business growth plan’s primary purpose is to find investors . Investors want to outline your company’s plans to build sales in the coming months.
• Concrete revenue plans: Growth plans are customizable to each business and don’t have to follow a set template. However, all business growth plans must focus heavily on revenue. The plan should answer a simple question: How does your company plan to make money each quarter?

What factors impact business growth?

Consider the following crucial factors that can impact business growth:

• Leadership: To achieve your goals, you must know the ins and outs of your business processes and how external forces impact them. Without this knowledge, you can’t direct and train your team to drive your revenue, and you will experience stagnation instead of growth.
• Management: As a small business owner, you’re innately involved in management – obtaining funding, resources, and physical and digital infrastructure. Ineffective management will impact your ability to perform these duties and could hamstring your growth.
• Customer loyalty: Acquiring new customers can be five times as expensive as retaining current ones, and a 5 percent boost in customer retention can increase profits by 25 percent to 95 percent. These statistics demonstrate that customer loyalty is fundamental to business growth.

What are the four major growth strategies?

There are countless growth strategies for businesses, but only four primary types. With these growth strategies, you can determine how to build on your brand.

• Market strategy: A market strategy refers to how you plan to penetrate your target audience . This strategy isn’t intended for entering a new market or creating new products and services to boost your market share; it’s about leveraging your current offerings. For instance, can you adjust your pricing? Should you launch a new marketing campaign?
• Development strategy: This strategy means looking into ways to break your products and services into a new market. If you can’t find the growth you want in the current market, a goal could be to expand to a new market.
• Product strategy: Also known as “product development,” this strategy focuses on what new products and services you can target to your current market. How can you grow your business without entering new markets? What are your customers asking for?
• Diversification strategy: Diversification means expanding both your products and target markets. This strategy is usually best for smaller companies that have the means to be versatile with the products or services they offer and what new markets they attempt to penetrate.

Max Freedman contributed to this article.

Get Weekly 5-Minute Business Advice

B. newsletter is your digest of bite-sized news, thought & brand leadership, and entertainment. All in one email.

Our mission is to help you take your team, your business and your career to the next level. Whether you're here for product recommendations, research or career advice, we're happy you're here!

• Solutions Company creation Business account Certified accounting Invoicing Expense management
• Resources Contact Sales (WhatsApp) Help Center Blog

You are reading...

Home > Run a Business > Strategic Planning for Long-Term Business Success

Strategic Planning for Long-Term Business Success

By João Pires

Published on 26 March 2024

16 mins read

Understanding the Importance of Strategic Planning

Defining strategic planning .

To better understand the concept, let's take a look at a simple example: 

• **Mission**: Defines the organization's purpose and reason for existence. 
• **Vision**: Describes the desired future state or outcome that the organization aims to achieve. 
• **Goals**: Specific objectives that the organization wants to accomplish within a defined timeframe. 

By clearly defining these key components, organizations can effectively communicate their strategic direction to stakeholders and guide their decision-making processes. 

Benefits of Strategic Planning 

Another benefit of strategic planning is that it helps identify and prioritize opportunities. By conducting a thorough analysis of the internal and external environment, businesses can identify potential areas for growth and development. This allows them to allocate resources effectively and focus on initiatives that have the highest potential for success. 

Linking Strategic Planning to Long-Term Success 

Strategic planning plays a crucial role in ensuring long-term success for businesses. By aligning the organization's goals and objectives with a well-defined strategic plan, companies can navigate through the ever-changing business landscape and stay ahead of the competition. 

One way to link strategic planning to long-term success is by regularly reviewing and updating the strategic plan. This allows businesses to adapt to new market trends, technologies, and customer demands. It's important to monitor the progress of the strategic plan and make adjustments as needed to ensure it remains relevant and effective. 

Another key aspect of linking strategic planning to long-term success is allocating resources effectively. By allocating resources based on the priorities outlined in the strategic plan, businesses can optimize their operations and maximize their chances of achieving long-term success. 

Key Elements of an Effective Strategic Plan

Mission and vision statements .

Mission and vision statements are essential components of an effective strategic plan. The mission statement defines the purpose and core values of the organization, while the vision statement outlines the desired future state. These statements provide a clear direction and guide decision-making throughout the strategic planning process. 

When crafting mission and vision statements, it's important to involve key stakeholders to ensure alignment and buy-in. By including diverse perspectives, the statements can accurately reflect the organization's values and aspirations. 

• Keep them concise and memorable, capturing the essence of the organization's purpose and aspirations. 
• Use strong and action-oriented language to inspire and motivate stakeholders. 
• Ensure they are aligned with the organization's values and long-term goals. 

Setting Clear Goals and Objectives 

• Align with your mission and vision statements. 
• Break them down into smaller, actionable steps. 
• Assign responsibility and accountability. 
• Regularly review and update them as needed. 

SWOT Analysis 

After conducting a thorough SWOT analysis, you will have a clear understanding of your business's strengths, weaknesses, opportunities, and threats. This analysis allows you to identify areas where your business excels and areas that need improvement. By leveraging your strengths and addressing your weaknesses, you can position your business for long-term success. Additionally, identifying opportunities and mitigating threats will help you stay ahead of the competition and adapt to changing market conditions. 

Tip : Regularly revisit and update your SWOT analysis to ensure it remains relevant and aligned with your business goals and market dynamics. 

Identifying Key Performance Indicators (KPIs) 

Remember, strategic planning is an ongoing process, and businesses should regularly review and update their KPIs to ensure they are aligned with their goals and objectives. By effectively identifying and monitoring KPIs, businesses can make informed decisions and drive long-term success. 

Rauva Business Account

Open your Free Business Account Today!

Developing a Strategic Planning Process

Involving stakeholders .

Involving stakeholders is a crucial step in the strategic planning process. By including key individuals and groups who have a vested interest in the success of the business, you can gain valuable insights and perspectives. This collaborative approach ensures that the strategic plan takes into account the diverse needs and priorities of all stakeholders. 

To effectively involve stakeholders, consider the following: 

• Identify the relevant stakeholders and their roles in the business. 
• Communicate the purpose and goals of the strategic planning process. 
• Provide opportunities for stakeholders to contribute their ideas and feedback. 
• Regularly update stakeholders on the progress of the strategic plan. 

By involving stakeholders throughout the planning process, you can build support and commitment for the strategic plan, increasing the likelihood of successful implementation. 

Conducting Market Research 

There are several methods you can use to conduct market research, including surveys, interviews, and data analysis. Surveys allow you to collect quantitative data from a large sample of your target audience. Interviews provide qualitative insights by allowing you to have in-depth conversations with individuals. Data analysis involves examining existing data to identify patterns and trends. 

When conducting market research, it's important to keep in mind the specific objectives of your strategic plan. Focus on gathering information that will help you understand your customers' needs and preferences, identify market opportunities, and assess the competitive landscape. 

Analyzing Competitors 

Analyzing competitors is a crucial step in strategic planning. By understanding your competitors' strengths and weaknesses, you can identify opportunities and threats in the market. Identifying the key competitors in your industry and analyzing their strategies, products, and customer base can provide valuable insights for your own business. 

Another important aspect of competitor analysis is understanding their pricing strategies. By researching and comparing the prices of similar products or services, you can determine if your pricing is competitive or if adjustments need to be made. 

It's also essential to keep an eye on your competitors' marketing and advertising efforts. By monitoring their campaigns and messaging, you can gain insights into their target audience and positioning strategies. 

Creating an Action Plan 

Implementing and monitoring the strategic plan, allocating resources .

Allocating resources is a critical step in implementing a strategic plan. It involves determining how to distribute the available resources, such as budget, personnel, and time, to support the strategic objectives. Effective resource allocation is essential for ensuring that the necessary resources are allocated to the right areas of the business to achieve the desired outcomes. 

Another approach to resource allocation is prioritizing based on strategic goals. By aligning resource allocation with the strategic goals of the organization, businesses can ensure that resources are allocated to the areas that will have the greatest impact on long-term success. 

It is important to regularly review and adjust resource allocation as needed. As business priorities and market conditions change, resource allocation may need to be revised to ensure continued alignment with the strategic plan. Regular monitoring and evaluation of resource allocation can help identify areas where adjustments are necessary to optimize resource utilization and maximize outcomes. 

Establishing Accountability 

• Clearly define roles and responsibilities: Clearly define who is responsible for each task and what their specific responsibilities are. This clarity helps avoid confusion and ensures that everyone knows what is expected of them. 
• Set measurable goals and targets: Establish clear and measurable goals and targets for each individual and team involved in the strategic plan.  
• Regularly review and assess progress: Schedule regular check-ins and progress reviews to assess how well the plan is being executed and if any adjustments need to be made.  
• Foster a culture of transparency and open communication: Encourage open and honest communication among team members, and create an environment where feedback and ideas are welcomed. 

By establishing accountability, you can ensure that your strategic plan is effectively implemented and that progress towards long-term business success is consistently monitored and adjusted as needed. 

Tracking Progress 

Tracking progress is a crucial step in the strategic planning process. It allows you to assess the effectiveness of your strategies and make adjustments as needed. One effective way to track progress is by using key performance indicators (KPIs). By regularly monitoring your KPIs, you can identify areas of improvement and take proactive steps to address them. 

Making Adjustments as Needed 

Making adjustments is a crucial part of the strategic planning process. It allows businesses to adapt to changing circumstances and ensure that their plans remain relevant and effective. Flexibility is key when it comes to making adjustments, as it allows businesses to respond quickly to new opportunities or challenges. 

One important aspect of making adjustments is communication. It is essential to keep all stakeholders informed about any changes to the strategic plan. This ensures that everyone is on the same page and can work together towards the revised goals. 

In addition, it is important to consider the risks and potential consequences of making adjustments. While adjustments can be beneficial, they can also introduce new risks or challenges. It is crucial to carefully evaluate the potential impact of any changes before implementing them. 

Overall, making adjustments as needed is a continuous process that allows businesses to stay agile and responsive in an ever-changing business environment.  

Was this helpful?

Written by joão pires.

Our specialised team focuses on bringing relevant and useful content everyday for our community of entrepeneurs. We love to stay updated and we thrive on sharing the best news with you.

Subscribe to our newsletter

Receive the latests insights and trends to help you start and run your business.

Start your 30-day free trial

Full flexibility. cancel anytime. no hidden fees., available on.

4.7 on Trustpilot

4.4 on app store, 4.6 on play store, want to stay updated with our latest news.

No spam, ever. Your email address will only be used for the company news.

More From Forbes

How to achieve business goals using a long-term perspective.

• Share to Facebook
• Share to Twitter
• Share to Linkedin

Irma Becerra is president of Marymount University , a comprehensive doctoral-granting university known for its innovative curriculum.

In today's ever-changing and unpredictable world, it can be easy to get caught up in short-term concerns and lose sight of the big picture. Leaders who maintain a long-term perspective can stay focused on their core mission, values and vision to ensure that their organizations remain aligned with future goals and objectives. A long-term perspective is essential for success, especially when leading an organization through uncertain and rapidly changing times.

Take, for instance, the global pandemic. Maintaining a long-term perspective was crucial for keeping calm and ensuring business progress. Leaders needed to continue pursuing their mission and remain committed to the organization’s strategic goals despite the tremendous upheaval in everyday life.

Expectations and demands on leaders changed dramatically in the spring of 2020. Before the global pandemic, leadership often focused primarily on achieving financial and operational goals while ensuring employees' well-being. However, the global pandemic brought unprecedented challenges, and many leaders took on additional responsibilities. For example, they navigated the complexities of managing remote teams, ensured business continuity and ensured the health and safety of employees and customers.

Here are a few things to keep front of mind to maintain a long-term perspective when pursuing leadership goals.

Best Travel Insurance Companies

Best covid-19 travel insurance plans, always plan for contingencies..

As you work tirelessly to develop strategies to create a clear and compelling vision for your organization's future, understand that unexpected challenges and disruptions will always occur. For example, one of the first things I did when I became president of Marymount was to launch a new strategic plan. In 2020, we extended the plan by two years to account for the global pandemic, which didn’t stop my institution but forced us to slow down the implementation.

Juggling day-to-day responsibilities while keeping a steady eye on future challenges and opportunities can be challenging. Organizations that think ahead and promote a culture of preparedness and collaboration can be well-prepared to respond during a crisis.

Cultivate an environment that is supportive of cognitive diversity.

Organizations that leverage diversity of thinking can benefit from many unique perspectives. Building strong teams that foster cognitive diversity is paramount to organizational success. A team that shares and respects differing views works together effectively and can align toward a common goal is the foundation of any successful organization.

Leaders should aim to provide employees with opportunities to work together in a supportive and inclusive environment. Give your teams the proper support and tools, and encourage everyone to keep their sights set on future goals. I've noticed sustainable success happens gradually over time. It requires hard work, persistence and a commitment to excellence.

As leaders, encourage and support the integrative capacity of teams by cultivating an organizational environment where everyone feels comfortable sharing their viewpoints, ideas and opinions. Doing so brings new knowledge to the table, leading to greater innovation and a more open culture.

Encourage collaborative decision making.

Collaborative decision making requires considering multiple scenarios and anticipating potential challenges. Synergy should be a priority for all leaders today, so do not underestimate the importance of teamwork. Provide a framework for your teams to come together when making informed decisions; doing so can propel the organization forward.

When decision making is well-rounded and considers various perspectives, there is typically a reduced risk of blind spots or unintended consequences. When individuals feel listened to and that their team considers their input, I've found they are more likely to support and implement the decision effectively.

In addition, collaborative decision making can also improve knowledge sharing and transfer within the organization. By involving different stakeholders in the decision-making process, they can learn from one another, leading to a better understanding of the organization's goals, challenges and opportunities. This can ultimately lead to a more knowledgeable and effective workforce, which can contribute significantly to the organization's long-term success.

That said, I've found aiming for consensus or perfection when collaborating is generally not possible. Put aside self-interests and support final decisions when they are made, so the organization can continue to prosper. Employees who dissent and express their dissatisfaction externally can cause great harm to the organization’s brand and reputation.

Build lasting inter-organizational partnerships.

In today's business environment, inter-organizational partnerships are becoming increasingly crucial for companies looking to remain competitive. Leaders must be able to communicate effectively and work together with partners to achieve common goals.

Active listening is critical in this process because it helps to ensure that all parties are in-sync and on the same page. When you hear and understand your partner's needs, goals and perspectives, you can lay the foundation for effective collaboration and problem-solving—which are vastly important when building mutually beneficial inter-organizational partnerships.

These partnerships can help you meet your leadership goals and pave the path for future ones. These partnerships can also foster innovation, provide opportunities for knowledge transfer and enhance brand reputation.

Set the proper groundwork for long-term success.

A long-term perspective can help leaders make decisions while carefully considering their far-reaching impact on the organization and its stakeholders. Leaders who foster responsible and sustainable decision making for a stronger, more resilient organization are better able to withstand disruptions. Keeping a long-term perspective can benefit an organization in the current moment by providing a clear direction and focus for decision making. Leaders can then prioritize investments for the benefit of the whole organization, as well as provide resources that have the potential to deliver the greatest long-lasting results and contribute to overall growth.

Maintaining a long-term perspective is hard work. Leaders often face pressure from stakeholders to deliver quick results. One way to negate such pressure is to communicate clearly and involve key stakeholders in planning and decision making.

We all know that the future is unpredictable and that the long-term consequences of actions taken today are uncertain. Still, keep a steadfast eye on the horizon, and you can create a positive legacy for your organization and lay the foundation for long-term success.

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

• Editorial Standards
• Reprints & Permissions

24 of My Favorite Sample Business Plans & Examples For Your Inspiration

Published: February 06, 2024

I believe that reading sample business plans is essential when writing your own.

hbspt.cta._relativeUrls=true;hbspt.cta.load(53, 'e9d2eacb-6b01-423a-bf7a-19d42ba77eaa', {"useNewLoader":"true","region":"na1"});

As you explore business plan examples from real companies and brands, it’s easier for you to learn how to write a good one.

But what does a good business plan look like? And how do you write one that’s both viable and convincing. I’ll walk you through the ideal business plan format along with some examples to help you get started.

Table of Contents

Business Plan Format

Business plan types, sample business plan templates, top business plan examples.

Ask any successful sports coach how they win so many games, and they’ll tell you they have a unique plan for every single game. To me, the same logic applies to business.

If you want to build a thriving company that can pull ahead of the competition, you need to prepare for battle before breaking into a market.

Business plans guide you along the rocky journey of growing a company. And if your business plan is compelling enough, it can also convince investors to give you funding.

With so much at stake, I’m sure you’re wondering where to begin.

Free Business Plan Template

The essential document for starting a business -- custom built for your needs.

• Outline your idea.
• Pitch to investors.
• Secure funding.
• Get to work!

Download Free

All fields are required.

You're all set!

Click this link to access this resource at any time.

Fill out the form to get your free template.

First, you’ll want to nail down your formatting. Most business plans include the following sections.

1. Executive Summary

I’d say the executive summary is the most important section of the entire business plan. 

Why? Essentially, it's the overview or introduction, written in a way to grab readers' attention and guide them through the rest of the business plan. This is important, because a business plan can be dozens or hundreds of pages long.

There are two main elements I’d recommend including in your executive summary:

Company Description

This is the perfect space to highlight your company’s mission statement and goals, a brief overview of your history and leadership, and your top accomplishments as a business.

Tell potential investors who you are and why what you do matters. Naturally, they’re going to want to know who they’re getting into business with up front, and this is a great opportunity to showcase your impact.

Need some extra help firming up those business goals? Check out HubSpot Academy’s free course to help you set goals that matter — I’d highly recommend it

Products and Services

To piggyback off of the company description, be sure to incorporate an overview of your offerings. This doesn’t have to be extensive — just another chance to introduce your industry and overall purpose as a business.

In addition to the items above, I recommend including some information about your financial projections and competitive advantage here too.:

Keep in mind you'll cover many of these topics in more detail later on in the business plan. So, keep the executive summary clear and brief, and only include the most important takeaways.

Executive Summary Business Plan Examples

This example was created with HubSpot’s business plan template:

This executive summary is so good to me because it tells potential investors a short story while still covering all of the most important details.

Image Source

Tips for Writing Your Executive Summary

• Start with a strong introduction of your company, showcase your mission and impact, and outline the products and services you provide.
• Clearly define a problem, and explain how your product solves that problem, and show why the market needs your business.
• Be sure to highlight your value proposition, market opportunity, and growth potential.
• Keep it concise and support ideas with data.
• Customize your summary to your audience. For example, emphasize finances and return on investment for venture capitalists.

Check out our tips for writing an effective executive summary for more guidance.

2. Market Opportunity

This is where you'll detail the opportunity in the market.

The main question I’d ask myself here is this: Where is the gap in the current industry, and how will my product fill that gap?

More specifically, here’s what I’d include in this section:

• The size of the market
• Current or potential market share
• Trends in the industry and consumer behavior
• Where the gap is
• What caused the gap
• How you intend to fill it

To get a thorough understanding of the market opportunity, you'll want to conduct a TAM, SAM, and SOM analysis and perform market research on your industry.

You may also benefit from creating a SWOT analysis to get some of the insights for this section.

Market Opportunity Business Plan Example

I like this example because it uses critical data to underline the size of the potential market and what part of that market this service hopes to capture.

Tips for Writing Your Market Opportunity Section

• Focus on demand and potential for growth.
• Use market research, surveys, and industry trend data to support your market forecast and projections.
• Add a review of regulation shifts, tech advances, and consumer behavior changes.
• Refer to reliable sources.
• Showcase how your business can make the most of this opportunity.

3. Competitive Landscape

Since we’re already speaking of market share, you'll also need to create a section that shares details on who the top competitors are.

After all, your customers likely have more than one brand to choose from, and you'll want to understand exactly why they might choose one over another.

My favorite part of performing a competitive analysis is that it can help you uncover:

• Industry trends that other brands may not be utilizing
• Strengths in your competition that may be obstacles to handle
• Weaknesses in your competition that may help you develop selling points
• The unique proposition you bring to the market that may resonate with customers

Competitive Landscape Business Plan Example

I like how the competitive landscape section of this business plan below shows a clear outline of who the top competitors are.

It also highlights specific industry knowledge and the importance of location, which shows useful experience in this specific industry. 

This can help build trust in your ability to execute your business plan.

Tips for Writing Your Competitive Landscape

• Complete in-depth research, then emphasize your most important findings.
• Compare your unique selling proposition (USP) to your direct and indirect competitors.
• Show a clear and realistic plan for product and brand differentiation.
• Look for specific advantages and barriers in the competitive landscape. Then, highlight how that information could impact your business.
• Outline growth opportunities from a competitive perspective.
• Add customer feedback and insights to support your competitive analysis.

4. Target Audience

Use this section to describe who your customer segments are in detail. What is the demographic and psychographic information of your audience?

If your immediate answer is "everyone," you'll need to dig deeper. Here are some questions I’d ask myself here:

• What demographics will most likely need/buy your product or service?
• What are the psychographics of this audience? (Desires, triggering events, etc.)
• Why are your offerings valuable to them?

I’d also recommend building a buyer persona to get in the mindset of your ideal customers and be clear on why you're targeting them.

Target Audience Business Plan Example

I like the example below because it uses in-depth research to draw conclusions about audience priorities. It also analyzes how to create the right content for this audience.

Tips for Writing Your Target Audience Section

• Include details on the size and growth potential of your target audience.
• Figure out and refine the pain points for your target audience , then show why your product is a useful solution.
• Describe your targeted customer acquisition strategy in detail.
• Share anticipated challenges your business may face in acquiring customers and how you plan to address them.
• Add case studies, testimonials, and other data to support your target audience ideas.
• Remember to consider niche audiences and segments of your target audience in your business plan.

5. Marketing Strategy

Here, you'll discuss how you'll acquire new customers with your marketing strategy. I’d suggest including information:

• Your brand positioning vision and how you'll cultivate it
• The goal targets you aim to achieve
• The metrics you'll use to measure success
• The channels and distribution tactics you'll use

I think it’s helpful to have a marketing plan built out in advance to make this part of your business plan easier.

Marketing Strategy Business Plan Example

This business plan example includes the marketing strategy for the town of Gawler.

In my opinion, it really works because it offers a comprehensive picture of how they plan to use digital marketing to promote the community.

Tips for Writing Your Marketing Strategy

• Include a section about how you believe your brand vision will appeal to customers.
• Add the budget and resources you'll need to put your plan in place.
• Outline strategies for specific marketing segments.
• Connect strategies to earlier sections like target audience and competitive analysis.
• Review how your marketing strategy will scale with the growth of your business.
• Cover a range of channels and tactics to highlight your ability to adapt your plan in the face of change.

6. Key Features and Benefits

At some point in your business plan, you'll need to review the key features and benefits of your products and/or services.

Laying these out can give readers an idea of how you're positioning yourself in the market and the messaging you're likely to use. It can even help them gain better insight into your business model.

Key Features and Benefits Business Plan Example

In my opinion, the example below does a great job outlining products and services for this business, along with why these qualities will attract the audience.

Tips for Writing Your Key Features and Benefits

• Emphasize why and how your product or service offers value to customers.
• Use metrics and testimonials to support the ideas in this section.
• Talk about how your products and services have the potential to scale.
• Think about including a product roadmap.
• Focus on customer needs, and how the features and benefits you are sharing meet those needs.
• Offer proof of concept for your ideas, like case studies or pilot program feedback.
• Proofread this section carefully, and remove any jargon or complex language.

7. Pricing and Revenue

This is where you'll discuss your cost structure and various revenue streams. Your pricing strategy must be solid enough to turn a profit while staying competitive in the industry. 

For this reason, here’s what I’d might outline in this section:

• The specific pricing breakdowns per product or service
• Why your pricing is higher or lower than your competition's
• (If higher) Why customers would be willing to pay more
• (If lower) How you're able to offer your products or services at a lower cost
• When you expect to break even, what margins do you expect, etc?

Pricing and Revenue Business Plan Example

I like how this business plan example begins with an overview of the business revenue model, then shows proposed pricing for key products.

Tips for Writing Your Pricing and Revenue Section

• Get specific about your pricing strategy. Specifically, how you connect that strategy to customer needs and product value.
• If you are asking a premium price, share unique features or innovations that justify that price point.
• Show how you plan to communicate pricing to customers.
• Create an overview of every revenue stream for your business and how each stream adds to your business model as a whole.
• Share plans to develop new revenue streams in the future.
• Show how and whether pricing will vary by customer segment and how pricing aligns with marketing strategies.
• Restate your value proposition and explain how it aligns with your revenue model.

8. Financials

To me, this section is particularly informative for investors and leadership teams to figure out funding strategies, investment opportunities, and more.

 According to Forbes , you'll want to include three main things:

• Profit/Loss Statement - This answers the question of whether your business is currently profitable.
• Cash Flow Statement - This details exactly how much cash is incoming and outgoing to give insight into how much cash a business has on hand.
• Balance Sheet - This outlines assets, liabilities, and equity, which gives insight into how much a business is worth.

While some business plans might include more or less information, these are the key details I’d include in this section.

Financials Business Plan Example

This balance sheet is a great example of level of detail you’ll need to include in the financials section of your business plan.

Tips for Writing Your Financials Section

• Growth potential is important in this section too. Using your data, create a forecast of financial performance in the next three to five years.
• Include any data that supports your projections to assure investors of the credibility of your proposal.
• Add a break-even analysis to show that your business plan is financially practical. This information can also help you pivot quickly as your business grows.
• Consider adding a section that reviews potential risks and how sensitive your plan is to changes in the market.
• Triple-check all financial information in your plan for accuracy.
• Show how any proposed funding needs align with your plans for growth.

As you create your business plan, keep in mind that each of these sections will be formatted differently. Some may be in paragraph format, while others could be charts or graphs.

The formats above apply to most types of business plans. That said, the format and structure of your plan will vary by your goals for that plan. 

So, I’ve added a quick review of different business plan types. For a more detailed overview, check out this post .

1. Startups

Startup business plans are for proposing new business ideas.

If you’re planning to start a small business, preparing a business plan is crucial. The plan should include all the major factors of your business.

You can check out this guide for more detailed business plan inspiration .

2. Feasibility Studies

Feasibility business plans focus on that business's product or service. Feasibility plans are sometimes added to startup business plans. They can also be a new business plan for an already thriving organization.

3. Internal Use

You can use internal business plans to share goals, strategies, or performance updates with stakeholders. In my opinion, internal business plans are useful for alignment and building support for ambitious goals.

4. Strategic Initiatives

Another business plan that's often for sharing internally is a strategic business plan. This plan covers long-term business objectives that might not have been included in the startup business plan.

5. Business Acquisition or Repositioning

When a business is moving forward with an acquisition or repositioning, it may need extra structure and support. These types of business plans expand on a company's acquisition or repositioning strategy.

Growth sometimes just happens as a business continues operations. But more often, a business needs to create a structure with specific targets to meet set goals for expansion. This business plan type can help a business focus on short-term growth goals and align resources with those goals.

Now that you know what's included and how to format a business plan, let's review some of my favorite templates.

1. HubSpot's One-Page Business Plan

Download a free, editable one-page business plan template..

The business plan linked above was created here at HubSpot and is perfect for businesses of any size — no matter how many strategies we still have to develop.

Fields such as Company Description, Required Funding, and Implementation Timeline give this one-page business plan a framework for how to build your brand and what tasks to keep track of as you grow.

Then, as the business matures, you can expand on your original business plan with a new iteration of the above document.

Why I Like It

This one-page business plan is a fantastic choice for the new business owner who doesn’t have the time or resources to draft a full-blown business plan. It includes all the essential sections in an accessible, bullet-point-friendly format. That way, you can get the broad strokes down before honing in on the details.

2. HubSpot's Downloadable Business Plan Template

We also created a business plan template for entrepreneurs.

The template is designed as a guide and checklist for starting your own business. You’ll learn what to include in each section of your business plan and how to do it.

There’s also a list for you to check off when you finish each section of your business plan.

Strong game plans help coaches win games and help businesses rocket to the top of their industries. So if you dedicate the time and effort required to write a workable and convincing business plan, you’ll boost your chances of success and even dominance in your market.

This business plan kit is essential for the budding entrepreneur who needs a more extensive document to share with investors and other stakeholders.

It not only includes sections for your executive summary, product line, market analysis, marketing plan, and sales plan, but it also offers hands-on guidance for filling out those sections.

3. LiveFlow’s Financial Planning Template with built-in automation

This free template from LiveFlow aims to make it easy for businesses to create a financial plan and track their progress on a monthly basis.

The P&L Budget versus Actual format allows users to track their revenue, cost of sales, operating expenses, operating profit margin, net profit, and more.

The summary dashboard aggregates all of the data put into the financial plan sheet and will automatically update when changes are made.

Instead of wasting hours manually importing your data to your spreadsheet, LiveFlow can also help you to automatically connect your accounting and banking data directly to your spreadsheet, so your numbers are always up-to-date.

With the dashboard, you can view your runway, cash balance, burn rate, gross margins, and other metrics. Having a simple way to track everything in one place will make it easier to complete the financials section of your business plan.

This is a fantastic template to track performance and alignment internally and to create a dependable process for documenting financial information across the business. It’s highly versatile and beginner-friendly.

It’s especially useful if you don’t have an accountant on the team. (I always recommend you do, but for new businesses, having one might not be possible.)

4. ThoughtCo’s Sample Business Plan

One of the more financially oriented sample business plans in this list, BPlan’s free business plan template dedicates many of its pages to your business’s financial plan and financial statements.

After filling this business plan out, your company will truly understand its financial health and the steps you need to take to maintain or improve it.

I absolutely love this business plan template because of its ease-of-use and hands-on instructions (in addition to its finance-centric components). If you feel overwhelmed by the thought of writing an entire business plan, consider using this template to help you with the process.

6. Harvard Business Review’s "How to Write a Winning Business Plan"

Most sample business plans teach you what to include in your business plan, but this Harvard Business Review article will take your business plan to the next level — it teaches you the why and how behind writing a business plan.

With the guidance of Stanley Rich and Richard Gumpert, co-authors of " Business Plans That Win: Lessons From the MIT Enterprise Forum ", you'll learn how to write a convincing business plan that emphasizes the market demand for your product or service.

You’ll also learn the financial benefits investors can reap from putting money into your venture rather than trying to sell them on how great your product or service is.

This business plan guide focuses less on the individual parts of a business plan, and more on the overarching goal of writing one. For that reason, it’s one of my favorites to supplement any template you choose to use. Harvard Business Review’s guide is instrumental for both new and seasoned business owners.

7. HubSpot’s Complete Guide to Starting a Business

If you’re an entrepreneur, you know writing a business plan is one of the most challenging first steps to starting a business.

Fortunately, with HubSpot's comprehensive guide to starting a business, you'll learn how to map out all the details by understanding what to include in your business plan and why it’s important to include them. The guide also fleshes out an entire sample business plan for you.

If you need further guidance on starting a business, HubSpot's guide can teach you how to make your business legal, choose and register your business name, and fund your business. It will also give small business tax information and includes marketing, sales, and service tips.

This comprehensive guide will walk you through the process of starting a business, in addition to writing your business plan, with a high level of exactitude and detail. So if you’re in the midst of starting your business, this is an excellent guide for you.

It also offers other resources you might need, such as market analysis templates.

8. Panda Doc’s Free Business Plan Template

PandaDoc’s free business plan template is one of the more detailed and fleshed-out sample business plans on this list. It describes what you should include in each section, so you don't have to come up with everything from scratch.

Once you fill it out, you’ll fully understand your business’ nitty-gritty details and how all of its moving parts should work together to contribute to its success.

This template has two things I love: comprehensiveness and in-depth instructions. Plus, it’s synced with PandaDoc’s e-signature software so that you and other stakeholders can sign it with ease. For that reason, I especially love it for those starting a business with a partner or with a board of directors.

9. Small Business Administration Free Business Plan Template

The Small Business Administration (SBA) offers several free business plan templates that can be used to inspire your own plan.

Before you get started, you can decide what type of business plan you need — a traditional or lean start-up plan.

Then, you can review the format for both of those plans and view examples of what they might look like.

We love both of the SBA’s templates because of their versatility. You can choose between two options and use the existing content in the templates to flesh out your own plan. Plus, if needed, you can get a free business counselor to help you along the way.

I’ve compiled some completed business plan samples to help you get an idea of how to customize a plan for your business.

I chose different types of business plan ideas to expand your imagination. Some are extensive, while others are fairly simple.

Let’s take a look.

1. LiveFlow

One of the major business expenses is marketing. How you handle your marketing reflects your company’s revenue.

I included this business plan to show you how you can ensure your marketing team is aligned with your overall business plan to get results. The plan also shows you how to track even the smallest metrics of your campaigns, like ROI and payback periods instead of just focusing on big metrics like gross and revenue.

Fintech startup, LiveFlow, allows users to sync real-time data from its accounting services, payment platforms, and banks into custom reports. This eliminates the task of pulling reports together manually, saving teams time and helping automate workflows.

"Using this framework over a traditional marketing plan will help you set a profitable marketing strategy taking things like CAC, LTV, Payback period, and P&L into consideration," explains LiveFlow co-founder, Lasse Kalkar .

When it came to including marketing strategy in its business plan, LiveFlow created a separate marketing profit and loss statement (P&L) to track how well the company was doing with its marketing initiatives.

This is a great approach, allowing businesses to focus on where their marketing dollars are making the most impact. Having this information handy will enable you to build out your business plan’s marketing section with confidence. LiveFlow has shared the template here . You can test it for yourself.

2. Lula Body

Sometimes all you need is a solid mission statement and core values to guide you on how to go about everything. You do this by creating a business plan revolving around how to fulfill your statement best.

For example, Patagonia is an eco-friendly company, so their plan discusses how to make the best environmentally friendly products without causing harm.

A good mission statement  should not only resonate with consumers but should also serve as a core value compass for employees as well.

Patagonia has one of the most compelling mission statements I’ve seen:

"Together, let’s prioritise purpose over profit and protect this wondrous planet, our only home."

It reels you in from the start, and the environmentally friendly theme continues throughout the rest of the statement.

This mission goes on to explain that they are out to "Build the best product, cause no unnecessary harm, and use business to protect nature."

Their mission statement is compelling and detailed, with each section outlining how they will accomplish their goal.

4. Vesta Home Automation

This executive summary for a smart home device startup is part of a business plan created by students at Mount Royal University .

While it lacks some of the sleek visuals of the templates above, its executive summary does a great job of demonstrating how invested they are in the business.

Right away, they mention they’ve invested $200,000 into the company already, which shows investors they have skin in the game and aren’t just looking for someone else to foot the bill.

This is the kind of business plan you need when applying for business funds. It clearly illustrates the expected future of the company and how the business has been coming along over the years.

5. NALB Creative Center

This fictional business plan for an art supply store includes everything one might need in a business plan: an executive summary, a company summary, a list of services, a market analysis summary, and more.

One of its most notable sections is its market analysis summary, which includes an overview of the population growth in the business’ target geographical area, as well as a breakdown of the types of potential customers they expect to welcome at the store. 

This sort of granular insight is essential for understanding and communicating your business’s growth potential. Plus, it lays a strong foundation for creating relevant and useful buyer personas .

It’s essential to keep this information up-to-date as your market and target buyer changes. For that reason, you should carry out market research as often as possible to ensure that you’re targeting the correct audience and sharing accurate information with your investors.

Due to its comprehensiveness, it’s an excellent example to follow if you’re opening a brick-and-mortar store and need to get external funding to start your business .

6. Curriculum Companion Suites (CSS)

If you’re looking for a SaaS business plan example, look no further than this business plan for a fictional educational software company called Curriculum Companion Suites. 

Like the business plan for the NALB Creative Center, it includes plenty of information for prospective investors and other key stakeholders in the business.

One of the most notable features of this business plan is the executive summary, which includes an overview of the product, market, and mission.

The first two are essential for software companies because the product offering is so often at the forefront of the company’s strategy. Without that information being immediately available to investors and executives, then you risk writing an unfocused business plan.

It’s essential to front-load your company’s mission if it explains your "Why?" and this example does just that. In other words, why do you do what you do, and why should stakeholders care? This is an important section to include if you feel that your mission will drive interest in the business and its offerings.

7. Culina Sample Business Plan

Culina's sample business plan is an excellent example of how to lay out your business plan so that it flows naturally, engages readers, and provides the critical information investors and stakeholders need. 

You can use this template as a guide while you're gathering important information for your own business plan. You'll have a better understanding of the data and research you need to do since Culina’s plan outlines these details so flawlessly for inspiration.

8. Plum Sample Business Plan

Don't forget to share this post!

Related articles.

What is a Business Plan? Definition, Tips, and Templates

7 Gantt Chart Examples You'll Want to Copy [+ 5 Steps to Make One]

How to Write an Executive Summary Execs Can't Ignore [+ 5 Top Examples]

20 Free & Paid Small Business Tools for Any Budget

Maximizing Your Social Media Strategy: The Top Aggregator Tools to Use

The Content Aggregator Guide for 2024

The 8 Best Free Flowchart Templates [+ Examples]

16 Best Screen Recorders to Use for Collaboration

The 25 Best Google Chrome Extensions for SEO

Professional Invoice Design: 28 Samples & Templates to Inspire You

2 Essential Templates For Starting Your Business

Marketing software that helps you drive revenue, save time and resources, and measure and optimize your investments — all on one easy-to-use platform

Long-Term Business Planning

• Small Business
• Business Planning & Strategy
• Business Plans
• ')" data-event="social share" data-info="Pinterest" aria-label="Share on Pinterest">
• ')" data-event="social share" data-info="Reddit" aria-label="Share on Reddit">
• ')" data-event="social share" data-info="Flipboard" aria-label="Share on Flipboard">

What Is a Dehydrated Business Plan?

What are the main purposes of a business plan, why is strategic planning important to a business.

• What Is a Short-Term Marketing Plan?
• Goals, Priorities & Planning

If you're starting a business you probably plan to stay in business for a long time. In order to accomplish this goal, you probably have at least an inkling of what you want your business to accomplish. You take these goals and attempt to make them come to fruition. If your successful, your business will thrive. Once you've met your original goals, you make new ones. Some of these new goals might be ones you want to meet immediately, while others will take longer. Those are your business' long-term business goals, and they're important.

Why Make a Plan?

If you were going on vacation, you would determine where you're going; how you were getting there; how long you were staying; and what you would do, once there. In other words, you would plan your vacation. So, if traveling to Tahiti requires some set-up and parameters, wouldn't starting and running a business also require these? A business takes time, energy and resources; the wise thing would be to sit down and determine the most effective ways of how to use your time, energy and resources – so that your business has the best chance for success.

Short-term Plan vs. Long-term Planning

You started your business because you wanted to fill a niche, meet a need or provide a service that's desperately needed – with the ultimate objective – to make money. To fulfill all of your business objectives, you have to set goals for your business, and a plan of action to reach each goal.

Most businesses have a combination of short-term plans and long-term plans. A short-term plan could include launching three products during a calendar year, making X-amount in profits in a certain period of time, or gaining 5,000 new social media followers in a month. A long-term plan based on those short-term plans is to expand your business from one facility to two or more within three years.

Short-term plans are more immediate objections, while long-term plans are for a longer period of time: a year is generally the minimum. Thus, your long-term plans can include goals such as five-year income projections, expansion plans, hiring goals or other bigger goals that take more than a month or two to meet. The plans should be kept separate but reviewed on a regular basis so progress can be tracked and adjustments can be made if necessary.

Why You Need a Business Plan

Revisiting the vacation scenario from above, let's say you decide to drive to your vacation destination. You've never been there before so you punch your destination into your GPS tool and use it to navigate to your destination. Once you've arrived, you can also use that same tool to find interesting places to visit and places to eat.

Think of a business plan as a business' GPS. You can use the strategic business plan to guide your business from one objective to the next, find the best course of action for your business and recognize and correct issues as they arise. This is where you'll include the short and long term plans you have for the business, as well as other pertinent information such as key personnel, the business' mission statement, competitor information and market research and development ideas. Financial projects are also a vital part of a business plan.

Benefits of a Long Term Strategy

Having a long term plan for your business shows that you are in it for the long haul. Knowing where you want to be in three, five or even ten years can help you choose the short-term plans of an organization. Long-term business goals don't have to be large goals. The goal to never miss a client deadline could be a long-term goal. Most of a business' short-term plans lead toward long-term plans, so when making immediate business plans, keeping a longer-term objective in mind isn't a bad idea. A long term plan gives you something to aim for as well as a built-in measuring tool to review the progress of your short-term plans.

• Small Biz Technology: 6 Short-Term Goals for Long-Term Success
• Forbes: 11 Ways To Establish, And Then Reach, Your Long-Term Goals
• Entrepreneur: 5 Ways to Think Long-Term in a Short-Term Market
• The action plans for year one of each of the long-term projects become part of the annual plan for the upcoming year. In that plan, the steps are broken out in more detail and budgets are created for each one, to be included in the total company budget.
• Although the long-term planning in a small business may not be as formal as that in a large corporation, the process is just as valuable in making sure the owner looks beyond the day-to-day problems he must deal with and thinks about where he wants to take his company in the future.
• Review and revise the long-term plan each year as the business environment changes. Opportunities may emerge that are potentially more profitable than the ones you selected to pursue in the previous year’s long-term plan.

K.A. Francis has been a freelance and small business owner for 20 years. She has been writing about personal finance and budgeting since 2008. She taught Accounting, Management, Marketing and Business Law at WV Business College and Belmont College and holds a BA and an MAED in Education and Training.

Related Articles

Tips for effective planning & organization, what are the benefits of preparing a business plan, how to identify your strategic goals in a small business, how to set goals in business operations, what is the difference between a strategic aim & a strategic objective, vehicle write-offs for a sole proprietorship, business value of enterprise systems & how they make management of the supply chain more effective, five-year goals for businesses, what does "abridged" mean on a business plan, most popular.

• 1 Tips for Effective Planning & Organization
• 2 What Are the Benefits of Preparing a Business Plan?
• 3 How to Identify Your Strategic Goals in a Small Business
• 4 How to Set Goals in Business Operations

• Newsletters
• Best Industries
• Business Plans
• Home-Based Business
• The UPS Store
• Customer Service
• Black in Business
• Your Next Move
• Female Founders
• Best Workplaces
• Company Culture
• Public Speaking
• HR/Benefits
• Productivity
• All the Hats
• Digital Transformation
• Artificial Intelligence
• Bringing Innovation to Market
• Cloud Computing
• Social Media
• Data Detectives
• Exit Interview
• Bootstrapping
• Crowdfunding
• Venture Capital
• Business Models
• Personal Finance
• Founder-Friendly Investors
• Upcoming Events
• Inc. 5000 Vision Conference
• Become a Sponsor
• Cox Business
• Verizon Business
• Branded Content
• Apply Inc. 5000 US

Inc. Premium

How to Develop a Successful Long-Term Business Strategy in 9 Simple Steps

After a successful business launch, it's time to really get to work, for long-term success and sustainability..

The biggest challenge these days doesn't seem to be in starting a new business, but sustaining it against the onslaught of market changes and new competitors that emerge every day.

Yet, as an angel investor , I still see too many new business owners who are convinced that their biggest challenge is to get money to start, and once launched with some initial success, they can relax.

In my other role of business advisor, I see examples often of startups that may have taken success for granted too early. A recent high-profile one, Theranos , the blood-testing company, had no trouble getting customers, but promised more than their technology could deliver, Another, Shyp , an early on-demand delivery platform, blamed their demise on premature scaling.

The keys to sustainable success require you to retain that sense of urgency, focus, and vigilance after the launch that you felt during the development and early funding stages.

That starts with initially building a solid business strategy, including a strong support system for scalability, long-term leadership, and adaptability. In my view, this strategy must include the following elements:

1. Define and communicate a purpose and destination.

Your constituents can't plot a journey if they aren't sure where they are going or why. For a successful launch and scalable growth, they need to establish many checkpoints, with metrics to assess their progress and alignment with the vision.

Don't let that communication fade post-launch.

2. Build and nurture a team culture of trust and leadership.

You and your business won't be able to sustain a position of leadership without everyone on the customer-facing team being willing and able to emulate your lead. That requires trust and respect from all, as well as constant coaching and development to keep them committed to following you.

​3. Demand continuous innovation to keep up with change.

Change is the only constant in a successful business, to keep up with new competitors and new customer demands. Innovation must be applied to your business model, your processes, as well as your product offering. Aim to obsolete your own products with new, before competitors do it.

4. Make sustainability a key design objective for every step.

You may start with prototype products, but you need rock-solid processes for successful growth and agility. Seek out the best practices in the industry, and improve them for your business. Recognize that every successful journey is long and hard, so don't cut corners now.

5. Hire the best people and continually upgrade your team.

A big mistake often made in the rush to scale is to shortcut the hiring and training processes, to get out there fast, assuming that the team can learn on the job.

Look for team players who can collaborate with others, and make sure everyone has the training and tools to do the job.

6. Seek out strategic partnerships and collaboration.

When you finally get that funding for scaling, it may be tempting to do everything yourself, to keep control and do it faster.

The problem is that you may not have the experience or connections to jump into new customer segments, manufacturing, and distribution. Capitalize on what already exists.  

7. Focus on existing customer retention and repeat business.

For sustainable growth, don't forget that, according to data from the field , it is five times as expensive to gain a new customer than retain an existing one, and a returning customer purchases 30 percent more items and brings in three to seven times more revenue per transaction.

8. Build your brand equity and relationships with customers.

As a startup, you have no brand recognition, but long-term sustainability requires a powerful brand.

These days, brand equity means relationships with more customers, and a more memorable overall experience. Your brand-loyal customer advocates can be your exponential marketing.

9. Never stop hunting for new opportunities and new markets.

Initial success breeds complacency. While a laser focus is necessary to get your startup off the ground, long-term success requires a broad and ever-changing product line, target audience, and geographic focus. Don't be a "one-trick pony" that fades into oblivion as time passes.

Congratulations are definitely appropriate for a successful new business launch, but it's not the time to relax or take your eye off the ball. A sustainable business, with long-term success, is a different and never-ending challenge, requiring additional strategies as outlined here.

Don't wait for a business crisis to get started. As many have found out, recoveries are not always possible.

A refreshed look at leadership from the desk of CEO and chief content officer Stephanie Mehta

Privacy Policy

• TrueProject

The Key to Thriving: How to Do Business Strategy Planning

• TrueProject Insights
• Accelerating IT Success

According to Innosight’s “Strategic Readiness and Disruptive Change” survey, only 12% of organizations had sustainable business strategy planning for over 5 years. The other 88% lack a formal strategy, risking stagnation or short-term gains. Every few years, larger organizations often engage in periodic future planning. Often, these business strategy planning documents are shelved until the next planning cycle. Conversely, many smaller and newer organizations, driven by urgency, may not allocate the necessary time and effort to the strategic planning process. Additionally, it's worth noting that only 63% of businesses plan beyond a one-year horizon. However, they fail to realize that simply proceeding in any direction does not guarantee success.

For organizations of all sizes, a more robust annual business strategy planning process plays a crucial role in shaping future success, ensuring profitability, enhancing value, and increasing overall impact. A well-crafted strategic plan provides a clear direction for your organization, enabling you to ensure that your teams are engaged in projects that have the most significant impact. The strategic planning process does more than just help you pinpoint your organization's future course; it also results in a tangible document that can be shared with employees and stakeholders, keeping them well-informed. This article discusses what business strategy planning looks like, the benefits, and the use of predictive intelligence in the development of strategic plans.

What is Business Strategy Planning?

Business strategy planning is a continuous, collaborative process through which an organization charts its course by bringing all its stakeholders together. This process involves an examination of current realities and the formulation of a vision for the future.

It entails a comprehensive evaluation of an organization's strengths, weaknesses, available resources, and the opportunities that lie ahead. Business strategic planning aims to proactively anticipate upcoming industry trends. Within this process, the organization not only develops a vision but also articulates its mission and establishes long-term, forward-looking strategic objectives.

These strategic objectives serve as the foundation for setting operational goals and incremental milestones. The operational plan is characterized by well-defined objectives and associated initiatives, each tied to measurable metrics that hold everyone accountable. Importantly, this plan must be flexible enough to accommodate adjustments as needed, allowing for the reallocation of resources in response to both internal and external factors. It is here that projects play a critical role in business strategy planning by providing a structured approach to achieving strategic goals and objectives. Projects translate that direction into actionable steps. By carefully linking projects to your strategic goals, you can achieve a competitive advantage and navigate the path to success.

Do You Need a Business Strategy Planning? 

It's essential for every business to have a robust strategic planning process in place.  Yet, the proportion of businesses attempting to function without a well-defined plan or one that is effectively communicated may be quite astonishing. Research conducted by OnStrategy reveals that 86% of executive teams dedicate less than one hour per month to strategic discussions, and a staggering 95% of the average workforce lacks a clear understanding of their organization's strategy.

Whether you’re considering strategic planning for a company, project, or an individual, the execution of strategic plans can derail due to several factors, such as:

• Setting unrealistic goals and juggling too many priorities,
• Inadequate communication,
• Employing inappropriate metrics for measurement, or
• Lack of leadership skills.

The degree to which the strategic plan document remains unused until the next planning cycle or evolves into a dynamic roadmap for the future is dependent on the individuals responsible for overseeing its implementation. Given the shortcomings in these aspects observed in numerous businesses, employing business strategy planning can provide you with a competitive edge. How is strategic planning different from business planning, you ask?

Differences Between a Strategic Plan and a Business Plan

A business plan serves as a valuable tool for outlining your strategy, especially when you're just launching your business. It ensures that all team members are aligned with your core business priorities and objectives. Additionally, a business plan can be instrumental in sharing your strategy with crucial investors and stakeholders during the initial stages of your business.

You should consider creating a business plan when:

• You are just starting your business, or
• Your business is undergoing significant restructuring.

If your business is already established, it's advisable to opt for a strategic plan rather than a business plan. Even if your company is relatively young, a strategic plan can build upon the foundational business elements you established early on, guiding your direction for the next three to five years.

When Is the Right Time to Develop a Strategic Plan?

Since the primary purpose of a business strategy planning process is to outline your long-term objectives and the path to achieving them, it is advisable to embark on the process when you have achieved most, if not all, of your existing goals. Additionally, it's essential to initiate the strategic planning process when your organization is about to undergo a significant shift in its mission or is planning to venture into new markets. So, how do you improve your business strategy planning process and stay ahead of the competition? 

The answer lies in effective project planning and execution. Projects often involve innovation and adaptation to changing market dynamics. They provide your businesses with opportunities to explore new ideas, technologies, and markets, allowing you to stay competitive and responsive to evolving customer needs. Additionally, by implementing projects in line with your business strategy planning, you can foster a culture of continuous improvement. Lessons learned from each project can be used to refine processes, optimize performance, and drive further innovation, ultimately enhancing the overall effectiveness of the business strategy. Furthermore, integrating modern technology solutions, especially AI-enabled predictive intelligence technology, into your projects provides foresight and enables data-driven decisions while creating a strong foundation for successful business strategy planning. 

How Does a Predictive Intelligence Solution Help Your Business Strategy Planning?

Irrespective of the industry or the business’ size, the application of predictive analytics into projects has the potential to enhance overall business performance. For example, you can examine sales data from the past two to three years to forecast the expected performance of the upcoming fiscal year. Predictive analytics essentially involves data utilization and statistical analysis to evaluate the probability of future occurrences. This field of analytics leverages historical data to anticipate potential outcomes. Here are some real-world instances that underscore the importance of predictive intelligence in the business strategy planning process:

The integration of predictive analytics empowers you, the business leaders, not only to survive but to thrive as you make data-driven decisions that are not only timely but also highly accurate.

Benefits of an Effective Strategic Planning Process

While the development of a strategy demands considerable effort, the benefits it yields are enduring. As the familiar adage goes, "Failing to plan is planning to fail." Dedication to reviewing and planning activities offers the following advantages:

• Setting up organizations, projects, and individuals for success, 
• Elevated prospects of adhering to the planned course,
• Reduced likelihood of projects deviating from the path,
• Effective communication of progress throughout the organization,
• Use of metrics to facilitate adjustments as needed,
• Formulating enterprise-wide budgets aligned with the strategy,
• Achieving alignment across various parts of the organization,
• Establishing strong employee performance and compensation plans,
• Fostering a commitment to learning and training,
• Encouraging and rewarding innovation, and
• Heightening productivity.

How to Build a Business Strategy Plan for Your Organization

Define the Mission and Vision

Initiate the strategic planning process by outlining the organization's future vision. Consider what project and business success should look like in the next five years. Craft a mission statement that articulates the organization's values and outlines the path to achieving the envisioned future. This mission statement should be rooted in the organization's core values.

Conduct a Comprehensive Assessment

This phase involves assessing the organization's strategic positioning. Collect project data from both internal and external sources, including stakeholders. Involve employees and customers in this research. A vital component of this stage is performing a SWOT analysis, which involves gathering insights from all stakeholders to identify the strengths, weaknesses, opportunities, and threats of each project or initiative to understand its impact on the business.

Take the factors identified in the assessment into account and forecast the organization's financial value. While this forecast may evolve due to external forces, it provides an initial estimate of expected measurable outcomes, such as return on investment (ROI) or profits.

Set the Organizational Direction

Based on research and assessment, establish clear project goals and priorities for organizational success. Ensure that these goals are specific and achievable, avoiding overly ambitious or broad objectives.

Create Strategic Objectives

Develop strategic project objectives and initiatives. Consider four perspectives, as proposed by Robert S. Kaplan and David P. Norton (in their book The Strategy-Focused Organization), in the balanced scorecard methodology: financial, customer satisfaction, internal processes, and learning and growth. These objectives should be interrelated and evaluated simultaneously.

Align with Key Stakeholders

Involve all stakeholders in the strategic planning process through projects. Engaging stakeholders throughout the project lifecycle fosters collaboration, communication, and alignment of interests, which are essential for overall business strategy planning success. When everyone shares the same direction, decision-making becomes more cohesive and aligned.

Begin Strategy Mapping

Utilize strategy mapping to illustrate the cause-and-effect relationships between perspectives and link them to 12 to 18 strategic objectives. Strategy maps provide a visual representation that enhances understanding and knowledge sharing across the organization.

Determine Strategic Initiatives

Following the identification of strategic objectives, decide on the specific projects or initiatives that will help achieve these objectives. These initiatives can encompass areas like scope, budget, brand awareness, product development, and employee training.

Benchmark Performance Measures and Analysis

Assign metrics to inform SMART (specific, measurable, attainable, relevant, and time-based) goals based on the strategic initiatives of your business or projects. Create benchmarks and key performance indicators (KPIs) to assess progress and align workers' performance with long-term objectives.

Performance Evaluation

Conduct an evaluation to gauge the success of the project and business strategy planning process. Measure activities and progress toward objectives, enabling the refinement of plans and objectives to enhance overall performance. Think of your project or business strategy planning as a cyclical process that begins and ends with evaluation, allowing for necessary adjustments. The frequency of plan review may vary, with some organizations revisiting it annually and others more frequently, depending on industry dynamics.

Prioritize Your Business Strategy Planning Process

Business strategy planning is the roadmap to success—the blueprint that not only guides but also unites teams and stakeholders toward a common goal. Most businesses fall short of harnessing the full potential of strategic planning. Yet, the benefits are immense, from increased efficiency and productivity to overcoming the challenges of an ever-evolving business landscape and adapting to changing circumstances. That means you must have the right solution to plan, monitor, and report on all the various tasks, resources, and projects.

So, how can you revolutionize your strategies and make accurate decisions? By harnessing the power of modern technology, such as predictive intelligence. If you are looking for a solution that helps you turn your strategic initiatives or technology projects into a plan and assists you in proactively connecting organizational objectives to daily work, look no further. TrueProject , a predictive intelligence solution for project health and performance, helps you continually assess how each project contributes to your organization’s goals. The solution also provides deep insight into project plans and keeps them fully aligned. Overall, TrueProject is your complete C-Suite solution to getting maximum ROI on your project investments.

In the end, strategic planning isn't just about the plan itself; it's about the journey and the transformation it brings to your organization. So, whether you're a seasoned enterprise or a fledgling startup, the time to embark on your business strategy planning journey is now—because, as the saying goes, those who fail to plan, plan to fail.

More information on TrueProject at www.trueprojectinsight.com .

Nivedita Gopalakrishna is a content marketing specialist within the TrueProject Marketing team with extensive experience in blog writing and website content creation across diverse industries. Nivedita’s proficiency in crafting engaging blog posts and informative website content is a testament to her years of experience. Beyond her prowess in written communication, Nivedita has a knack for creating visually appealing static graphics that have played a pivotal role in expanding TrueProject 's marketing efforts. She has helped convey the brand's essence through thoughtful design choices and captivate audiences effectively. Outside the professional sphere, Nivedita is a trained classical singer and a fitness enthusiast, embodying creativity and wellness in and out of the office.

• Landau, Peter. “Strategic Planning in Business.” ProjectManager, August 15, 2022. https://www.projectmanager.com/blog/strategic-planning-in-business
• Betz, Meredith. “Strategic planning: Read this before it's that time again.” BetterUp, November 29, 2022. https://www.betterup.com/blog/strategic-planning
• Carucci, Ron. “Executives Fail to Execute Strategy Because They’re Too Internally Focused.” Harvard Business Review, November 13, 2017. https://hbr.org/2017/11/executives-fail-to-execute-strategy-because-theyre-too-internally-focused
• Martins, Julia. “What is strategic planning? 5 steps and processes.” Asana, October 6, 2022. https://asana.com/resources/strategic-planning
• “5 steps of the strategic planning process.” Lucidchart, (n.d.). https://www.lucidchart.com/blog/5-steps-of-the-strategic-planning-process
• “The Strategy Confidence Gap.” Innosight, 2014. https://www.innosight.com/insight/the-strategy-confidence-gap/

Recent Blogs

JobPlanner and TrueProject Combine Forces

Project Woes? Easy Guide for Project Management in Construction

Why Is Business Risk Management Critical for Your Company?

Navigate Project Hiccups Online: Effective Solutions for Common Management Issues

We use essential cookies to make Venngage work. By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

Manage Cookies

Cookies and similar technologies collect certain information about how you’re using our website. Some of them are essential, and without them you wouldn’t be able to use Venngage. But others are optional, and you get to choose whether we use them or not.

Strictly Necessary Cookies

These cookies are always on, as they’re essential for making Venngage work, and making it safe. Without these cookies, services you’ve asked for can’t be provided.

Show cookie providers

• Google Login

Functionality Cookies

These cookies help us provide enhanced functionality and personalisation, and remember your settings. They may be set by us or by third party providers.

Performance Cookies

These cookies help us analyze how many people are using Venngage, where they come from and how they're using it. If you opt out of these cookies, we can’t get feedback to make Venngage better for you and all our users.

• Google Analytics

Targeting Cookies

These cookies are set by our advertising partners to track your activity and show you relevant Venngage ads on other sites as you browse the internet.

• Google Tag Manager
• Infographics
• Daily Infographics
• Popular Templates
• Accessibility
• Graphic Design
• Graphs and Charts
• Data Visualization
• Human Resources
• Beginner Guides

Blog Business 15+ Best Business Plan Examples for Entrepreneurs & Startups

15+ Best Business Plan Examples for Entrepreneurs & Startups

Written by: Jennifer Gaskin Jun 09, 2021

Not having a solid plan makes it unlikely for you to achieve the goals you seek, whether it’s getting your to-do list done or launching a successful organization.

In the early stages of a company, that means developing things like pitch decks, business plans, one-sheeters and more. With Venngage’s Business Plan Builder , you can easily organize your business plan into a visually appealing format that can help you win over investors, lenders or partners.

Learn more about how to create a business plan so you can hit the ground running after reading through this list for inspirational business plan templates .

15+ Best business plan examples for entrepreneurs and startups

Simple business plan example, startup business plan example, small business plan example, nonprofit business plan example, strategic business plan example, market analysis business plan example, sales business plan example, organization and management business plan example, marketing and sales strategy business plan example, apple business plan example, airbnb business plan example, sequoia capital business plan example.

While your business plan should be supported by thorough and exhaustive research into your market and competitors, the resulting document does not have to be overwhelming for the reader. In fact, if you can boil your business plan down to a few key pages, all the better.

Simple business plan outline:

• Table of contents : List all sections and sub-sections within the business plan.
• Business review : Include an overview of the business’s purpose, history, and key objectives.
• The market : Analyze the target market, including customer demographics and market needs.
• The competition : Evaluate the main competitors and their strengths and weaknesses in the market.

The simple, bold visual aesthetic of this  business plan template  pairs well with the straightforward approach to the content and various elements of the business plan itself.

Use Venngage’s My Brand Kit  to automatically add your brand colors and fonts to your business plan with just a few clicks.

An essential startup business plan should include a clear and compelling value proposition, market analysis, competitive analysis, target audience identification, financial projections, and a well-defined marketing and operational strategy.

For a typical startup, the need to appear disruptive in the industry is important. After all, if you’re not offering anything truly new, why would an investor turn their attention toward your organization. That means establishing a problem and the ways in which you solve it right away.

Startup business plan outline:

• The problem : Identify the specific issue or pain point your startup aims to solve.
• Target market & opportunity : Define your customers and the potential market size.
• The solution : Describe the product or service that addresses the identified problem.
• Traction and validation/roadmap : Outline the progress made so far and the future milestones and goals.

Whether it’s a full-scale business plan or, in this case, a pitch deck, the ideal way for a startup to make a splash with its plans is to be bold. This successful business plan example is memorable and aspirational.

In the Venngage editor, you can upload images of your business. Add these images to your plans and reports to make them uniquely your own.

All businesses start out small at first, but that doesn’t mean their communications have to be small. One of the best ways to get investors, lenders and talent on board is to show that you’ve done your due diligence.

Small business plan outline:

• Table of contents : List down of all the sections and sub-sections in the business plan.
• Business overview : Include a quick overview of what your business is all about, including your mission and goals.
• The market : Analyzes who your customers are, what they need, and how big the market is.
• The competition : Look into your main competitors and what they’re good at (and not so good at).
• Sales and marketing plan : Lay out your game plan for attracting and keeping customers.
• Operating plan : Explain how you’ll run the day-to-day operations and manage the business.

In this small business plan example, the content is spread over many pages, which is useful in making lengthy, in-depth research feel less like a chore than packing everyone on as few pages as possible.

Organizations that set out to solve problems rather than earning profits also benefit from creating compelling business plans that stir an emotional response in potential donors, benefactors, potential staff members or even media.

Nonprofit business plan outline:

• Table of contents : Lists all sections and sub-sections of your nonprofit business plan.
• Introduction : Provide an overview of your mission and purpose.
• Goal : State the specific objectives your nonprofit organization aims to achieve.
• Impact & strategy : Explain how you plan to create positive change and the methods you will use.

Simplicity is the goal for nonprofits when it comes to business plans, particularly in their early days. Explain the crisis at hand and exactly how your organization will make a difference, which will help donors visualize how their money will be used to help.

Business plans are also helpful for companies that have been around for a while. Whether they’re considering new products to launch or looking for new opportunities, companies can approach business plans from the strategy side of the equation as well.

Strategic business plan outline:

• The problem, issue, or job at hand : Define the specific challenge or task the strategic plan addresses.
• Approach & methodology : Describe the methods and strategies that will be used to tackle the problem or achieve the objective.

Strategic business plans or strategy infographics should be highly focused on a single area or problem to be solved rather than taking a holistic approach to the entire business. Expanding scope too much can make a strategy seem too difficult to implement.

Easily share your business plan with Venngage’s multiple download options, including PNG, PNG HD, and as an interactive PDF.

One-page business plan example

For organizations with a simple business model, often a one-page business plan is all that’s needed. This is possible in any industry, but the most common are traditional ones like retail, where few complex concepts need to be explained.

This one-page strategic business plan example could be easily replicated for an organization that offers goods or services across multiple channels or one with three core business areas. It’s a good business plan example for companies whose plans can be easily boiled down to a few bullet points per area.

Especially when entering a saturated market, understanding the landscape and players is crucial to understanding how your organization can fit it—and stand out. That’s why centering your business plan around a market analysis is often a good idea.

Market analysis business plan outline:

• Table of contents : Lists all sections and sub-sections of the market analysis business plan.
• Executive summary : Provide a brief overview of the key points of the market analysis.
• Business overview : Summarize your business’s mission, vision and core activities.
• The market : Analyze the target market, including customer demographics and market trends.
• The competition : Review the main competitors and their market positioning.
• Sales & marketing plan : Outline strategies for reaching and engaging customers.
• Operating plan : Details the day-to-day operations and management structure.

In this example, the majority of the content and about half the pages are focused on the market analysis, including competitors, trends, pricing, demographics and more. This successful business plan example ensures the artwork and style used perfectly matches the company’s aesthetic, which further reinforces its position in the market.

You can find more memorable business plan templates to customize in the Venngage editor. Browse Venngage’s  business plan templates  to find plans that work for you and start editing.

Company description business plan example

Depending on the market, focusing on your company story and what makes you different can drive your narrative home with potential investors. By focusing your business plan on a company description, you center yourself and your organization in the minds of your audience.

Company description business plan outline:

• Executive summary : Briefly summarize the key components and objectives of the company description section.
• Approach & direction : Outline the company’s strategy, goals and the direction it intends to take in achieving them.

This abbreviated plan is a good business plan example. It uses most of the content to tell the organization’s story. In addition to background about the company, potential investors or clients can see how this design firm’s process is different from their rivals.

With Venngage Business , you can collaborate with team members in real-time to create a business plan that will be effective when presenting to investors.

Five-year business plan example

For most startups or young companies, showing potential investors or partners exactly how and when the company will become profitable is a key aspect of presenting a business plan. Whether it’s woven into a larger presentation or stands alone, you should be sure to include your five-year business plan so investors know you’re looking far beyond the present.

With Venngage’s Business Plan Builder , you can customize a schedule like this to quickly illustrate for investors or partners what your revenue targets are for the first three to five years your company is in operation.

The lifeblood of any company is the sales team. These are the energetic folks who bring in new business, develop leads and turn prospects into customers. Focusing your energy on creating a sales business plan would prove to investors that you understand what will make your company money.

Sales business plan outline:

• Table of contents : List all sections and subsections within the sales business plan.
• Target market : Identify the specific segment or segments of customers the sales efforts will focus on.
• Customer profile : Provide detailed descriptions of the ideal customers, including demographics, preferences and needs.
• Action plan : Outline the specific steps and strategies to be taken to reach and engage the target market and achieve sales objectives.

In this example sales business plan, several facets of ideal buyers are detailed. These include a perfect customer profile that helps to convey to your audience that customer relationships will be at the heart of your operation.

You can include business infographics in your plan to visualize your goals. And with Venngage’s gallery of images and icons, you can customize the template to better reflect your business ethos.

Company mergers and shakeups are also major reasons for organizations to require strong business planning. Creating new departments, deciding which staff to retain and charting a course forward can be even more complex than starting a business from scratch.

Organization and management business plan outline:

• Table of contents : List all sections and subsections within the organization and management business plan.
• About us : Provide an overview of the organization, its mission, vision and values.
• Project summary : Summarize the key details and objectives of the project.
• Project timeline : Outline the milestones and schedule for completing the project.

This organization and management business plan focuses on how the company can optimize operations through a few key organizational projects.

Executive summary for business plan example

Executive summaries give your business plan a strong human touch, and they set the tone for what’s to follow. That could mean having your executive leadership team write a personal note or singling out some huge achievements of which you’re particularly proud in a business plan infographic .

Executive summary business plan outline:

• Table of contents : Lists all sections and subsections within the executive summary business plan.
• Executive summary : Provide a concise overview of the entire business plan, highlighting key points and objectives.
• Statement of problem : Clearly define the specific issue or challenge the business aims to address.
• Approach & methodology : Outline the methods and strategies that will be employed to solve the stated problem or achieve the desired goals.

In this executive summary for a business plan, a brief note is accompanied by a few notable achievements that signal the organization and leadership team’s authority in the industry.

Marketing and sales are two sides of the same coin, and clever companies know how they play off each other. That’s why centering your business plan around your marketing and sales strategy can pay dividends when it comes time to find investors and potential partners.

Marketing and sales strategy business plan outline:

• Table of contents : List all sections and subsections within the marketing and sales strategy business plan.
• Positioning : Describe how the business intends to position its products or services in the market to stand out from competitors.
• Value prop : Highlight the unique value proposition that the business offers to its target customers, including its benefits and advantages.
• Marketing strategy : Outline the overall approach and tactics that will be used to promote the products or services and attract customers.

This marketing and sales business plan example is the picture of a sleek, modern aesthetic, which is appropriate across many industries and will speak volumes to numbers-obsesses sales and marketing leaders.

Do business plans really help? Well, here’s some math for you; in 1981, Apple had just gone public and was in the midst of marketing an absolute flop , the Apple III computer.  The company’s market cap, or total estimated market value,  could hit $3 trillion this year.

Did this Apple business plan make the difference? No, it’s not possible to attribute the success of Apple entirely to this business plan from July 1981, but this ancient artifact goes to show that even the most groundbreaking companies need to take an honest stock of their situation.

Apple’s 1981 business plan example pdf covers everything from the market landscape for computing to the products that founder Steve Jobs expects to roll out over the next few years, and the advanced analysis contained in the document shows how strategic Jobs and other Apple executives were in those early days.

Inviting strangers to stay in your house for the weekend seemed like a crazy concept before Airbnb became one of the world’s biggest companies. Like all disruptive startups, Airbnb had to create a robust, active system from nothing.

Airbnb business plan outline:

• Problem : Identify the specific challenge or need in the accommodation industry that the Airbnb business aims to address.
• Solution : Describe how Airbnb’s platform provides a solution to the identified problem by connecting hosts with guests.
• Market validation : Demonstrate through research or evidence that there is demand for Airbnb’s services.
• Market size : Estimate the total addressable market for Airbnb’s accommodation services.
• Product : Detail the features and functionalities of the Airbnb platform for both hosts and guests.
• Business model : Explain how Airbnb generates revenue and sustains its operations.
• Market adoption : Discuss the rate at which Airbnb’s services are being embraced by hosts and guests.
• Competition : Identify other players in the accommodation industry offering similar services to Airbnb.
• Competitive advantages : Highlight the unique strengths or advantages that set Airbnb apart from its competitors.

As this Airbnb business plan pitch deck example shows, for companies that are introducing entirely new concepts, it’s helpful not to get too into the weeds. Explain the problem simply and boil down the essence of your solution into a few words; in this case, “A web platform where users can rent out their space” perfectly sums up this popular company.

Sequoia Capital is one of the most successful venture capital firms in the world, backing startups that now have a combined stock market value of more than $1 trillion, according to a Forbes analysis .

For young companies and startups that want to play in the big leagues, tailoring your pitch to something that would appeal to a company like Sequoia Capital is a good idea. That’s why the company has a standard business plan format it recommends .

Sequoia capital business plan outline:

• Company purpose : Clarify the core reason for the business and its overarching goals.
• Problems : Identify specific challenges or pain points that the business aims to solve.
• Solution : Describe how the business addresses the identified problems with its products or services.
• Market potential : Assess the size and growth opportunities within the target market for the business.
• Competition : Analyze existing competitors and their strengths and weaknesses in the market.
• Business model : Outline how the business plans to generate revenue and sustain its operations.
• Our team : Introduce the key members of the team and their relevant expertise and experience.
• Financials : Provide projections and forecasts for the financial performance of the business.
• Vision : Articulate the long-term aspirations and goals that the business seeks to achieve.

Using Sequoia Capital’s business plan example means being simple and clear with your content, like the above deck. Note how no slide contains much copy, and even when all slides appear on the screen at once, the text is legible.

Use Venngage to design business plans that will impress investors

Not every business plan, pitch deck or one-sheeter will net you billions in investment dollars, but every entrepreneur should be adept at crafting impressive, authoritative and informative business plans.

Whether you use one of the inspirational templates shared here or you want to go old school and mimic Apple’s 1981 business plan, using Venngage’s Business Plan Builder helps you bring your company’s vision to life.

Discover popular designs

Infographic maker

Brochure maker

White paper online

Newsletter creator

Flyer maker

Timeline maker

Letterhead maker

Mind map maker

Ebook maker

Where Thought Leaders go for Growth

7 steps to build an effective sales prospecting plan (+ PDF template)

Table of contents, why is sales prospecting important, how to prospect, tips for sales prospecting: techniques, tools, and advice, step 1: set prospecting objectives, step 2: identify and qualify the sales prospect, step 3: choose the preferred channels to prospect, step 4: prepare your sales prospecting actions [pdf template], step 5: write your script to master your pitch, step 6: measure the impact of the campaign, step 7: convert leads to customers.

The sales prospecting plan is a prerequisite before starting any canvassing. Selling without using a sales prospecting plan is like wasting your time and energy for nothing. It must meet the needs of your current prospecting campaign. So how to build an effective sales prospecting plan for your strategy?

Follow these 7 steps , supported by tips and tools, and your sales prospecting will only be more effective!

As a bonus: download our PDF prospecting plan template to apply it to your company.

What is sales prospecting?

Prospecting is the first step of the sales process. It’s a process of identifying , qualifying , approaching potential customers for your business (who may not know about your company), and turning them into an opportunity. It is not about selling your product but trying to figure out how you could help your prospects with your solutions. The final goal is to make these prospects become revenue-generating customers .

The sales prospecting process allows you to identify the ideal customer who truly needs your business or product and find out their purchase motivation or challenges. It’s extremely effective because you can directly approach the right leads and don’t waste too much time. Furthermore, sales prospecting generates more sales meetings which creates opportunities to seal the deal.

So how to prospect? Below, we will discover the guide to identify and qualify the sales prospect and then some tips to help you to find good-fit prospects who will be more likely to buy your product.

The first thing you have to do is start researching your sales prospect . A good-fit customer is a key to a long-term business. Try to find out all the key components of your sales prospect like industry, job title, revenue, company size, company structure, social status, their business... When you already have all these pieces of information, you can start to establish a sales prospecting plan .

However, this process is just not easy like eating a cake. You should define objectives, have a good research method, communication channels, and follow-up procedures to ensure each sales prospect wants to purchase and they have enough information about your business and product. Don’t worry because we’ll show you 7 simple steps on how to build an effective sales prospecting plan with a free PDF prospecting plan template down below!

Whether you are a beginner or senior salesperson, it is always interesting to discover a new sales prospecting technique that works. Here are some tips for setting up a real machine of Lead Generation for your business.

1. Humanize your commercial prospecting

Imagine you don't want to be replaced by artificial intelligence in 3-4 years. However, some sales prospecting techniques consist of behaving like a robot and repeating the same actions every day. This process is undoubtedly already automated. So if you create sales prospecting scripts, leave a place for discussion and humanization. It will be more natural and make the prospects want to discover more.

2. Listen before prospecting

The most effective technique for sales prospecting is to take the time to listen. We listen not only to a phone conversation but also to Social Media. Nowadays we have super tools to be able to “spy” on sales prospects in order to understand what their problems are and identify the sacred “trigger”.

In fact, the trigger will allow you to make contact with this sales prospect and start a conversation in order to humanize your discussion, present your activity, and offer your prospect to move forward with you if that makes sense to him.

3. Define a sales prospecting plan

With new technologies and the dozens of social media available, you have endless business development opportunities.

The advantages of a sales prospecting plan for your business:

• define your buyer personas;
• study business proposals;
• set up steps to follow for each prospect;
• determine the key elements that you must collect during your sales prospecting;
• plan teaser scenarios for each media.

How to build a sales prospecting plan? Don’t worry, we will show you a guide to creating your own effective sales prospecting plan down below.

4. Use new prospecting media

Be innovative in your sales prospecting techniques and try to get out of spots where all your competitors are crowded. For example, very few salespeople use Facebook to prospect, it is a very good BtoB and BtoC lead generator. Otherwise, there are discussion forums or blogs that talk about your area of ​​expertise, and many customers go there to look for solutions.

Using new prospecting media also means that you will have to adapt to the media they use to convey information. This can be video, infographics, videoconferences, or even audio recordings.

5. Create content that will strengthen your sales prospecting techniques

One of the tools that work best is the blog. Each article can bring dozens of contacts per year. In addition, it is very easy to share your articles and therefore disseminate relevant information to your potential customers on all of your social networks.

The article will offer to download a premium offer in exchange for an email address and pieces of information. The more content you have, the more visible you will be, and therefore the more customers will automatically come to you.

6. Use omnichannel sales prospecting techniques

A very effective sales prospecting technique is to multiply the points of contact with the same sales prospect. Chat on Twitter, connect on LinkedIn and have a phone call or write a sales prospecting email. If you can be omnipresent for your sales prospect, they will feel more confident. You have proven that you have common interests as you have had the opportunity to discuss several topics at different times and places. These exchanges create an opportunity for approaching the lead naturally.

7. Prospecting is bringing value

Prospecting is not about selling your product but trying to figure out how you could help your sales prospects with your solutions. The most effective way to find out if you can help someone else is to ask them. Starting by observing your sales prospect and identifying how you could help them in the short term. If you can bring value to each of your customers for free, you will earn a lot of points!

7 steps to build an effective sales prospecting plan:

​​“You can’t manage what you can’t measure.” - Peter Drucker

The preliminary stage of any project, including sales prospecting: what are your objectives? Aligned with the commercial strategy , they will give you the direction in your approach.

Your goals have every interest in being SMART:

• Specific, or Simple,
• Measurable,
• Achievable,
• Temporarily defined.

Examples of objectives to be achieved:

• turnover target,
• share of new sales prospects in your portfolio,
• number of new sales prospects per sales representative,
• number of new sales prospects by geographic area,
• a percentage of hot leads to revive and convert, etc.

Why is it important?

Segmenting your sales prospects helps you focus on the profiles of sales prospects first. What criteria should you take into account to define your target ?

• average revenue,
• geographical area,
• activity area,
• income, etc.

Adopting this marketing approach serves to collect as much data as possible on your sales prospects. The better you understand their underlying issues and motivations , the better able you will be to speak the right language and come up with an offer that you cannot refuse.

How to identify and qualify the sales prospect?

First, it is necessary to distinguish between a lead and a prospect.

Lead vs prospect: what's the difference?

• Lead: A potential customer at the top of the funnel who has not undergone a sales qualification. These prospects have expressed some level of interest in your business and product (for example, a web form or a download).
• Prospect: A prospect who has undergone at least some level of sales qualification and who goes down the funnel to become a customer . Although prospects are identified as ideal customers , other factors can prevent them from moving from prospect to customer.

Secondly, you have to know how to qualify the sales prospect. There are 3 levels of the qualification process :

• Organizational: Testing if the target organization is a good fit in terms of size, budget, demographic or technographic parameters for your strategy.
• Opportunity: This phase is to understand if the organization in question is able to take advantage of your offer. Although the factors can change depending on the product or service, qualifying those factors are still important because it gives your customer a high probability of completion.
• Individual: This level establishes that your point of contact is where all the decisions are made, or otherwise a sales rep is able to influence to get the deal across the finish line.

Knowing the audience for your product or service is the first step in building a list of high-quality potential customers. You can achieve this by developing a thoughtful business prospecting plan and creating a sales prospect profile based on what you know about your product or business type and what you can assume about your potential sales prospects .

A sales prospecting file lists all the sales prospects corresponding to your target with their contact details. Updated regularly, it serves the purpose of identifying the most relevant contacts as quickly as possible.

But how to identify the sales prospect?

Segmentation is an essential strategic step for a company. It is a process that aims to divide the target market into different segments of buyers or sales prospects in order to be more efficient and relevant in its marketing actions and adapt a suitable communication channel for each audience. Segments are homogeneous groups of people ready to use a product or service. They must be attractive in terms of turnover. It is, therefore, necessary to look for characteristics shared by a sufficient number of people.

The segmentation criteria can be of several types and will be different depending on each company. The different standards that make it possible to segment the consumers present in a market can be:

• Socio-economic: socio-professional category, income level, level of education
• Psychological: centers of interest, lifestyle, personality, values, technological maturity, needs
• Criteria related to purchasing behavior: frequency of purchase, purchasing habits, use of products

These three standards apply equally well to a company that offers BtoB or BtoC oriented offers. A BtoC-oriented company can also use the socio-demographic criteria of its potential buyers:

• Socio-demographic: age, sex, size, place of residence, family situation

Conversely, a BtoB-oriented company will have more interest in looking at the organizational standards to achieve its targeting

• Organizational criteria: company attributes, location, level of turnover, size, seniority

Each type of criterion must be precisely defined in order to be able to segment consumers into representative and realistic groups. This analysis and targeting process is an essential step in the segmentation process .

To create your sales prospecting file, using a sales prospecting support tool or CRM software can help you save your time especially by giving you access to a large volume of processed and sorted information.

Their advantages are numerous:

• easy detection of the most promising opportunities,
• centralization of data,
• history of customer exchanges,
• monitoring of the development of sales prospecting campaigns,
• data visualization, etc.

Our advice :

👉 Respect the GDPR when collecting and storing data from your sales prospects.

You know who you want to prospect (target) and why (goals) , it's time to choose how to get there. This requires the choice of sales prospecting channels.

💡 Your budget also determines where you want to contact your sales prospects.

• You have a tight budget: focus on the channel with the highest ROI for the chosen target.
• You have a more comfortable budget: multiply the platforms and tools to collect contacts more easily. What platforms are at your disposal?

How to collect contacts?

You can have a good database by using:

• one or more commercial prospecting techniques (telephone, email, etc.);
• a clear and easily understandable commercial offer;
• your website, attractive and complete, where your sales prospects contact you, using a form for example.
• social networks, via social selling for example;
• emailing: emailing is a powerful sales tool, you can create tailor-made and automated email prospecting, with precise and qualitative targeting;
• the purchase or rental of a database of prospects;
• specialized professional events, etc.

How to convert leads?

• your sales pitch (see step 5);
• a commercial brochure on which to base your arguments and which serves as a support for reflection for your future buyers;
• centralizing each person's information in a sales prospect file to adapt your speech and meet their specific needs;
• the use of one or more sales techniques;
• samples or tests to concretely convince;
• customer testimonials to reassure your sales prospects before closing the sale. Suggest to your customers to leave their opinion or to rate you!

The framework for your sales prospecting campaign is set: apply it in your action plan.

You don't know where to start to plan your actions? Our sample PDF sales prospecting plan will help you translate your actions into a summary document. This support needs to be personalized according to your particular needs, will be your reference point in all your sales prospecting actions.

Model of sales prospecting plan

Now that you know your target well, you have to define the arguments that will convince them.

👉 Tailor the message based on where your sales prospect is in the sales funnel. Whether you need to capture a cold sales prospect or convert a hot sales prospect, you have to find the argument that will be a good fit for the specific needs of the person in front of you.

To achieve this, write a script to include in your sales prospecting plan. It includes the commercial arguments for each type of profile.

• Prepare an argument with the main strengths and answers to the most common objections.
• Never close the door to the discussion: you must of course avoid closed questions or those that can be contradicted, but also prepare an alternative to his proposals (e.g. the customer will ask for a price reduction that you cannot grant … Then offer him marketing tools as compensation).
• Listen to your customers and their expectations: you have to take notes so as not to forget key information, let your customers speak to know their needs and identify key information in their decision-making...
• Explain clearly why you want to speak to your contact and what you bring to him, and at the end of the meeting, you make a “diagnosis” summarizing the customer's problem… and the solution you offer.

✅ Advantage: if you do not yet master the sales discourse, you refer to it so you don’t feel overwhelmed by objections.

⚠️ Disadvantage: be careful not to read your script , at the risk of losing its naturalness, and, worse, you can no longer practice actively listening to your sales prospect.

Analyzing the results of your campaign is essential to know if your sales prospecting campaign is effective or if you have achieved your objectives. Otherwise, it will help you to pinpoint what you need to improve (tools, methods, etc.).

Our advice:

👉 Determine relevant indicators and use software with a sophisticated analytical system with a dashboard for your sales process to gain visibility and make good decisions.

Get in touch with your sales prospects, through the platforms and tools that you have identified as relevant. Start a conversation about their issues , their motivations, and the doubts they face.

You have to make sure that your product is one of the possible solutions, and then convince him that it is the best for him. Try to figure out their pain points by asking some questions like “What is the biggest obstacle for you in daily operations?”, “Are there any problems that you have to face?” and handle all the objections.

In the end, let’s make your move with some closing deal questions like “When is the perfect time for you to make a purchase decision?” and “If you don’t have any issue and all the criteria outlined have been satisfied, how would you want to proceed?”.

In conclusion, by following these 7 steps , you will be able to create your own powerful sales prospecting plan that helps you turn every sales prospect into standards and ready to seal the deal! The sales prospecting plan template is always available for your team. What are your secrets to a foolproof sales prospecting plan?

Discover our complete Customer relationship management catalog

Best tools for you.

Software vendors

Work smarter by appvizer.

New trends and tips to be more efficient at work, in your mailbox.

Tailored Business Proposals: 19 Examples for Different Industries

The cornerstone of winning any new business lies in the strength of your proposal. The aim? To not only outline your offer, but to paint a picture so vivid your prospects can see the brighter future your partnership could bring.

In this guide, we unpack everything you need to paint this picture. First, we’ll work through the theory: showing how to structure your proposal for maximum impact. Then, we’ll see how these look in practice with 19 industry-tailored, time-tested business proposal examples.

In short, everything you need to take your proposal game to the next level.

Key Takeaways

• A Strong Start is Half the Battle: Your proposal's introduction should grab attention like a headline does. Think of it as the trailer to the blockbuster that is your proposal.
• Clarity is King: Aim for a fluff-free zone. We'll show you how to be crystal clear about what you're offering and why it matters.
• Tailor Made to Fit: Like a bespoke suit, your proposal should be customized to fit your potential client's needs. Leave the cookie-cutting to the competition.
• Evidence, Please: Back up your claims with solid proof. Testimonials, case studies, and data are your best friends.
• A Call to Action That Calls Out: Don't leave your reader hanging. A compelling call to action prompts their next move - so it's imperative that you're crystal clear about what you want them to do next to move things forward.

How to structure your business proposal

Every element of a great business proposal should serve the overall objective. Clarity and concision are your priorities. In the spirit of being direct, here's a blueprint (as well as some tips) to get you there:

Executive Summary : After your title page, begin with an executive summary that captures the essence of your proposal. This section should be compelling, providing a clear snapshot of the client's problem and your proposed solution, setting the stage for the details that follow.

Define the Problem : Show your deep understanding of the challenges your potential client is facing, showing empathy and insight. This reassures the client that you grasp the nitty-gritty and the nuances of their situation.

Propose Your Solutions : In this section, outline your proposed solutions. Each solution should directly address a facet of the client's problem, clearly explaining how your services or products fit their needs. Focus on how you solve the problem, not just the features and benefits of your product or service.

Methodology and Timeline : Discuss your methodology and project timeline, providing a clear roadmap of how and when you plan to implement your solutions. This section should reassure the client of your project management skills, communication and planning abilities and that you have a realistic approach.

Pricing: Transparently outline your pricing structure while emphasizing the value provided. It’s crucial to balance cost with the benefits your client will gain, presenting your proposal as a strategic investment. Remember to include any add-on services or additional charges to avoid surprising your client later on in the process.

Proof of Success : Support your proposal with concrete evidence of your past successes. Include case studies, testimonials, and relevant data that validate your claims and demonstrate your capability and experience. If it's appropriate, you can provide some references your prospect can reach out to.

Conclusion and Call to Action : Conclude with a strong call to action. Clearly state what steps you want the reader to take next, whether it’s scheduling a meeting, signing a contract, or any other specific requirements.

This structured approach ensures that your proposal is a persuasive, coherent argument that effectively communicates why you are the best choice for the client.

19 Business proposal examples to use

When it comes to your unique needs, you're the expert. But, in order to get you started or inspire you to sell in new ways, we offer a robust library of business proposal templates . Each one is tailored to a different sector, showcasing how to apply the structure we've just outlined in real-world scenarios. Here are 19 different sample proposals, so you have plenty of choices to use or peruse!

1. SaaS Proposal

When writing a SaaS proposal , you must detail the office chaos your software will calm. Show them a future where productivity soars, thanks to your cloud-based wizardry. Be specific about features, but link each one to a benefit. "Our feature X means your team can do Y, leading to Z% more sales." Don't forget to sprinkle in client testimonials from other businesses that have achieved zen thanks to your help! Look at our SaaS Proposal Template to see exactly what I mean.

SaaS Proposal Template

Propel your business forward with our SaaS Proposal Template – present a persuasive case for adopting your solution to prospects.

2. Mobile App Development Proposal

Here, you're the architect of the next app everyone can't live without. Your mobile app proposal should start with the vision: the gap in the market your app fills beautifully. Describe how smooth and intuitive the user journey is. Outline the development timeline and the rigor of your testing and quality assurance strategy. Then, pull out the portfolio and social proof to show that you have the experience to match the vision. Our Mobile App development template will give you a better idea of how to tell your story in a way prospective clients won't be able to refuse an opportunity to work with you.

Mobile App Development Proposal Template

Secure projects with a compelling and persuasive Mobile App Development Proposal Template– craft a comprehensive, innovative, and tailored pitch swiftly.

3. Enterprise Sales Proposal

This is where you think big - there are so many proposal creation possibilities. You're addressing companies with complex needs and multiple stakeholders. Your sales proposa l should reflect that. Start with an executive summary that speaks their language—efficiency, scalability, ROI. Dive deep into how your solution aligns with their strategic goals. Use data to lead them to the inevitable conclusion that your solution isn't just the best option; it's the only one that makes sense. Our enterprise sales template belongs in your proposal kit and shows how this is done well.

Grab our Enterprise Sales Template

Get to 'yes' faster by captivating your buyer with web-based sales assets

4. Software Development Proposal

This one's all about transformation. Your opening should paint a picture for a prospective buyer of the digital makeover their business will undergo. Detail the technical wizardry you'll employ in your software development proposal, but take the time to demystify all of it. Break your process into clear, digestible phases, showing milestones and success at each turn. When discussing costs, emphasize the long-term value of custom software—like investing in a high-quality tool that pays for itself over time. Our software proposal template shows what this all looks like in practice.

Software Development Proposal Template

Win development projects with a thorough and persuasive software pitch – prepare a comprehensive, detailed, and tailored proposal quickly.

5. Investment Proposal

Here, you're wooing investors with a unique idea that's as solid as it is exciting: your business model, your market analysis, and your growth projections. These are particularly crucial for larger projects that require significant capital. So, you need to present a clear and concise outline of the opportunity, the potential ROI, and the associated risks. Look at how Qwilr’s investment proposal template establishes a clear understanding between the investor and the opportunity. It also leaves space for all of the important contractual language to ensure you're staying compliant while you pitch.

Grab our Investment Proposal Template

6. Marketing Proposal

Imagine you’re crafting a strategy to turn a brand from a wallflower into the life of the party. Your marketing proposal should delve into the current market position and paint a picture of the potential you can help them realize. Outline a multi-channel approach, weaving in success stories like proof points in your narrative. Include your proposed project scope and include the deliverables like brand guidelines, design assets, copy and strategy work. Show them how your unique blend of creativity and analytics will boost their visibility and engagement, leading to a measurable uptick in sales and brand loyalty. Our marketing proposal template shows you exactly how it's done.

Marketing Proposal Template

Win clients with a clear and convincing Marketing Proposal – craft an engaging, goal-driven, and results-focused proposal in no time.

7. SEO Proposal

Your SEO proposal acts as their map, guiding them through the winding terrain of search engine algorithms to the pinnacle of those Page 1 rankings. Start by laying out the stark reality of their current online presence and its untapped potential. Break down your strategy into tangible steps—keyword research, on-page optimization, content marketing. Use case studies to illustrate the climb from obscurity to prominence. Make it clear that investing in SEO is not a cost but a growth catalyst. How do you do it? Use our SEO proposal template. It's designed for engagement and interactive storytelling.

SEO Proposal Template

Gain clients with a captivating and persuasive SEO Proposal – design a strategic, data-driven, and results-focused proposal quickly.

8. Paid Search Proposal (PPC or Google Ads)

Think of this as plotting a direct route to sales growth. Your opening? It highlights the inefficiency of their current advertising efforts compared to the precision targeting Google Ads offers. Your PPC proposal should map out a campaign that targets their ideal customers with laser focus, promising better conversion rates at a lower cost. Include projections to illustrate the potential return on ad spend, turning skepticism into anticipation- as this Google Ads proposal template neatly demonstrates.

PPC Proposal Template

Craft a winning PPC strategy with the comprehensive PPC Proposal Template – efficiently develop targeted and result-oriented campaigns

9. Influencer Marketing Proposal

Begin your influencer marketing proposal by introducing yourself, your brand, and your audience. Then, demonstrate your understanding of the target brand's needs and how your content and audience can help service those needs. Drill down into the metrics that will define success for them here: people interacting with the content, website visitors, sales, new followers, etc. Showcase success stories as evidence that this approach isn't just trendy; it's transformative.

This influencer marketing proposal template helps you create a data-driven, results-orientated proposal in a fraction of the time.

Influencer Proposal Template

Showcase your expertise in influencer marketing with our dynamic Influencer Proposal Template. Designed for accuracy and impact, it enables you to create a data-driven, results-oriented proposal tailored to your potential partner's goals.

10. Branding Proposal

You're the artist envisioning a brand's rebirth. Start your branding proposal with a critique of the current brand identity and its market perception. Propose a rebranding strategy that promises to not just change looks but revitalize the brand's story, making it resonate with today’s audience. Include mood boards, success stories, and market research to back your vision. Paint a picture of the future where their brand isn’t just seen but felt deeply by its audience. Our brand identity proposal template helps highlight the unique approach to identity, positioning, and messaging that you bring to the table.

Branding Proposal Template

Win clients with a compelling and persuasive brand strategy – craft a clear, consistent, and impactful brand proposal quickly.

11. Sponsorship Proposal

Position your sponsorship proposal as a win-win partnership that elevates both parties. Begin with an analysis of the potential partner’s audience and how it overlaps with your client’s target market. Propose a sponsorship deal that feels less like a transaction and more like a collaboration towards a shared goal. Highlight past sponsorship successes as proof of concept, ensuring the partner feels confident in the mutual benefits. Our sponsorship proposal template helps you create a detailed, goal-orientated and mutually beneficial pitch in minutes.

Grab our Sponsorship Proposal Template

12. Content Marketing Proposal

With your content marketing proposal , you're the storyteller proposing a saga that captures and holds the audience's attention. Start with the harsh reality of their current content's performance—or lack thereof. Lay out a content strategy that spans blog posts, videos, and social media, all designed to engage and convert. Use metrics from past campaigns to underscore the value of quality content, positioning it as the cornerstone of digital marketing success. Qwilr’s content marketing proposal template helps your team close impactful, high-value clients and expand your business.

Grab our Content Marketing Proposal Template

Drive content success with our Content Marketing Proposal Template – win high value clients by presenting a comprehensive content offering.

13. Email Marketing Proposal

With your email marketing proposal , you’re connecting your knowledge of email marketing to the potential client's needs. Showcase your content plan, focussing on segmentation and personalization methods aimed at deepening relationships and driving sales. Present data from successful email campaigns to illustrate the potential for increased open rates and conversions. Our email marketing proposal template can be the shortcut to your success.

Email Marketing Proposal Template

Win clients with an engaging and convincing Email Marketing Proposal – craft a targeted, data-driven, and results-oriented proposal in no time.

14. Website Design Proposal

Here, you're the digital renovator, promising a website that wows and works hard. With your website design proposal , it's no surprise that aesthetics are important. Use rich media, interactive elements, and high-quality images to heighten engagement. Show mockups or case studies to illustrate the transformative power of good design, framing the website not just as a cost but as an investment in the brand’s digital footprint. Our website proposal template will help you land clients while showcasing your expertise.

Grab our Website Design Proposal Template

15. “Spin Selling” Proposal

Adopt the role of a sales strategist, advocating for a method that spins ordinary conversations into sales opportunities. Highlight the inefficiencies in their current sales approach with empathy. Introduce SPIN Selling as a proven methodology focussing on Situation, Problem, Implication, and Need-payoff questions, promising to elevate your sales professionals to the trusted advisors the modern buyer prefers. Use success stories to cement the credibility of this approach and our SPIN selling template to help you do it all in a fraction of the time.

Grab our Spin Selling Proposal Template

16 & 17. “MeddPicc” and “Meddicc” Proposals

For these, position yourself as a sales transformation guru. Each proposal should dissect the current sales process, revealing gaps and missed opportunities. Present MEDDPICC/MEDDIC as comprehensive frameworks that ensure thorough qualification and a deeper understanding of customer needs, leading to more predictable and successful sales outcomes. Bolster your case with testimonials and metrics from businesses that have seen significant improvements after adopting these methodologies. Our MeddPicc and Meddicc proposal templates can prove invaluable allies here.

Grab our MEDDPICC Proposal Template

18. “Challenger Sales” Proposal

Here, you're advocating for a bold, assertive approach to sales that challenges prospects’ preconceptions. Begin by illustrating the limitations of their current sales strategy with real-world examples. Introduce the Challenger Sales model as the game-changer, emphasizing its focus on teaching, tailoring, and taking control of the sales conversation. Highlight the success stories of companies that have embraced this model, showcasing impressive results. Qwilr’s Challenger Sales Methodology template embraces this solution-focussed sales approach.

Grab our Challenger SaaS Proposal Template

19. “Mutual Action Plan” Proposal

Imagine guiding your client toward a collaborative sales strategy that maps out the path to a closed deal. Start with the pitfalls of traditional, one-sided sales plans. Present the Mutual Action Plan as a partnership between seller and buyer, creating a shared roadmap towards decision-making. Highlight its benefits—increased transparency, alignment, and a higher rate of successful closures—backed by case studies of successful implementations. Look how this Mutual Action Plan template fosters collaboration with its shared goals, milestones, and commitments.

Grab our Mutual Action Plan Template

Start Using Qwilr to Create Your Business Proposal Template

With Qwilr, gone are the days of one-size-fits-all PDF templates that blend into the background noise of your prospect's inbox. Here’s how Qwilr’s proposal software turbo-charges your efficiency and creativity:

• Tailor-Made Templates: Jumpstart your sales proposal process with business communications templates that are as flexible as they are beautiful. Customize to your heart's content, ensuring every proposal (and proposal template) reflects your unique brand and message. Our proposal samples showcase how you can create a robust and winning proposal efficiently each and every time.
• Interactive Quotes: Transform bland, static quotes into interactive, engaging elements that allow your prospects to customize their options.
• Seamless Integrations: Connect Qwilr with your CRM, accounting software, and more of your best sales tools to streamline your workflow. It’s like having a team of assistants at your beck and call, ensuring every part of the proposal process is in sync.
• Real-Time Notifications: Receive alerts the moment your proposal is viewed. It's like having ESP, giving you a decent gauge on buyer intent , plus the perfect timing to follow up, answer questions, or just give a gentle nudge.
• Data-Driven Insights: Learn what works and what doesn’t. Qwilr’s analytics give you a behind-the-scenes look at how your proposals perform, turning data into actionable insights.

The best proposal software should not just be a tool but a member of your team- one that works tirelessly to ensure your proposals stand out and deliver results. Qwilr isn't just a step toward more effective proposals; it's a leap into a future where your proposals do more than speak for you—they impress, they engage, and (most importantly) they close deals .

Final Thoughts

The path to creating proposals that not only capture attention but also win hearts (and deals) is intricate yet immensely rewarding. Explore Qwilr’s Proposal Software to create proposals that stand out and deliver real results. Let's make every proposal your stepping stone to success.

About the author

Marissa Taffer | Founder & President of M. Taffer Consulting

Marissa Taffer is the Founder & President of M. Taffer Consulting. She brings over 15 years of sales and marketing experience across various industries to a broad range of clients.

Frequently asked questions

How long should a business proposal be.

A proposal should be as long as necessary to convey your value proposition clearly and compellingly. That said, aim for brevity and relevance. If you can say it powerfully in five pages, don't stretch it to ten.

How can I make my proposal stand out?

In a world of black and white, be a burst of color. Use visuals, infographics, and even videos if your platform allows it. Tailor your proposal to speak directly to your prospect's needs and pain points. And don’t forget the power of a compelling story—people remember stories far longer than specs and numbers.

What's the biggest mistake to avoid in a business proposal?

Overlooking the 'why.' It's easy to get caught up in the what and the how (what you're offering and how you'll do it), but if you forget to explain why it matters to them, you've lost before you've begun. Always link your services or products back to their benefits.

Should pricing always be included in a proposal?

Yes, but with a twist. Pricing should be transparent but also flexible. Use interactive pricing tables that allow your prospects to adjust scope based on their budget.

How important are follow-ups after sending a proposal?

Imagine planting a seed and not watering it… Follow-ups with your prospective client are crucial. They show you're genuinely interested in their business and open the door for feedback or questions. Timing is key, though—wait a day or two, not an hour (and definitely not a week!)

Related articles

• All articles
• Sales management
• Sales techniques
• Sales enablement
• Customer success
• Product updates