But if your business is newer and not yet profitable, be clear and realistic with your projections.
For example, if your sales have been increasing at a steady 5% every quarter, you don't want to suddenly assume 50% sales growth per quarter for no reason.
When showing your financial outlook, project your vision out over at least five years.
Clearly state the logic behind your projections, and you can also tie this section back to your previous section on raising capital if applicable.
The traditional route, and the most common, is likely what you'll be using.
The traditional plan contains far more details and should be used for most scenarios.Research industry norms and look up how comparable businesses have performed.Include income statements, balance sheets and cash flow statements for multiple years if possible.Think of it as a litmus test to prove that every step taken is part of a larger calculated effort.Business plans are also crucial for external affairs.Alternatively, you can explore a lean startup plan, which are onepagers and detail your business only at the highest level.This is most appropriate for businesses that are likely to change quickly or are on a very, very short timeline. We'd recommend putting together an organizational chart if there are multiple stakeholders to not only show who's involved but to also show how everyone brings something to the table.If you want to want to take out a loan, bring on a business partner, or more you'll need a solid plan in order. However, writing a business plan isn't easy and not everyone knows exactly what the business plan should outline.What's even more confusing is that no two business plans should look the same.However, don't go overboard with this and write a 50-page plan, as no one will read that.There are now two ways you can write your business plan.