How to Create a Business Plan (Even If You’ve Never Written One Before)

A business plan is more than a document—it’s a roadmap that helps you turn ideas into action. Whether you’re applying for a grant, pitching to investors, or just want clarity, your business plan is your foundation.

Don’t worry if you’ve never written one before. Here’s a step-by-step guide to help you get it done—without overwhelm.

Step 1: Start With A Clear Executive Summary

This is the first section, but often the last one you’ll write. It sums up your business, your mission, what you sell, and what you’re hoping to achieve.

✅ Include:

• Business name and location
• Mission statement
• A short description of your product/service
• Business goals

Example: “Sparkle Bites is a women-owned bakery in Atlanta specializing in allergy-friendly desserts. We’re expanding to serve cafes across the Southeast and aim to increase wholesale distribution by 200% in the next 12 months.”

Step 2: Describe Your Business

Here’s where you dig into the who, what, and why of your business. Explain your background, what problem you’re solving, and why your business exists.

✅ Include:

• Business structure (LLC, sole proprietorship, etc.)
• Industry overview
• Your unique value or competitive edge

Step 3: Know Your Market (Market Research)

Show you understand your audience. Who are your customers? What’s the demand? Who are your competitors—and how will you stand out?

✅ Include:

• Target market and demographics
• Market trends and opportunities
• Competitive analysis

Pro Tip: This is the section investors and grant reviewers often skim to see if you’ve done your homework.

Step 4: Outline Your Products or Services

Describe what you’re selling and how it benefits your customers.

✅ Include:

• Product or service details
• Pricing model
• How it solves a problem or fulfills a need
• Future product development plans

Step 5: Develop a Marketing and Sales Strategy

No matter how great your product is, you need a plan to reach your audience.

✅ Include:

• Marketing channels (social media, email, ads, etc.)
• Branding strategy
• Sales tactics
• Customer retention ideas

Example: “We’ll build awareness through Instagram reels, collaborate with local influencers, and launch an email newsletter for customer retention.”

Step 6: Create a Financial Plan

Here’s where you get into the numbers. This doesn’t have to be fancy, but it does need to be accurate.

✅ Include:

• Startup costs (if applicable)
• Monthly operating expenses
• Revenue projections
• Break-even analysis
• Funding needs (if you’re seeking a loan or grant)

💡 Tip: If you’re not a numbers person, use a template or ask for help—there are free tools online, and organizations like Galaxy of Stars provide resources to help you get started.

Step 7: Define Your Operations Plan

How will you run your business day to day? This section gives insight into your logistics.

✅ Include:

• Your team (or hiring plan)
• Roles and responsibilities
• Tools and systems
• Key milestones

Bonus: Keep it Simple But Strategic

Your business plan doesn’t have to be 50 pages long. What matters most is that it’s clear, realistic, and rooted in real data. Keep it professional, but let your personality and passion shine through.

Final Thoughts: A Business Plan is your Launchpad

You don’t need to write the perfect business plan—you just need to start. A good plan helps you organize your vision, stay focused, and show funders that you’re serious.

💡 Need help or a template? Join Galaxy of Stars to access resources for women and minority entrepreneurs, including business plan templates, funding tools, and expert support.