Knowing how to write a business plan is essential for setting the stage for smart decisions, long-term growth, and funding success.
Every successful small business starts with a vision, but that vision needs direction. Whether you’re just launching or looking to scale, a well-structured business plan helps organize your strategy, secure funding, and align your team with your goals.
At Spartan Capital, we know that many small business owners have the passion and drive to succeed and that they just need the right structure to bring their plans to life. That’s why we created this step-by-step guide to help you write a powerful, professional business plan that sets your business up for long-term success!
Step 1: Write a Clear and Compelling Executive Summary
This is your first impression, make it count. The executive summary gives readers a quick overview of what your business does, what problems it solves, and where it’s headed. While it appears first in the plan, write this section last so it reflects all the detailed information you’ve included.
What to include:
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Business name, location, and mission
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Overview of your product or service
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Brief description of your target market
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Summary of financial projections and funding needs
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Your business goals for the next 3–5 years
Think of this section as your pitch; clear, concise, and persuasive.
Step 2: Describe Your Business in Detail
This section provides the full context of your business. What’s your origin story? What inspired you to start? What specific need do you meet in the market?
Include:
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Your business model (B2B, B2C, hybrid)
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Legal structure (LLC, partnership, corporation, etc.)
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Vision and mission statements
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Business history (if applicable)
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Short- and long-term objectives
Investors and funders want to understand what you do and why you do it. Give them confidence in your clarity of purpose.
Step 3: Understand and Define Your Market
Your business can’t serve everyone, and it shouldn’t try to. Define your ideal customer and explain how your business meets their needs.
Key elements:
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Market size and growth potential
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Customer demographics and behaviors
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Trends that affect your industry
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Buyer pain points your business solves
When you demonstrate that you know your audience inside and out, it shows you’ve done the work and are ready to meet demand.
Step 4: Conduct a Competitive Analysis
Every industry has competitors. This section shows that you understand who they are and how you plan to stand out.
Discuss:
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Direct and indirect competitors
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Their strengths and weaknesses
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Your unique selling proposition (USP)
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Barriers to entry or advantages you have
A strong competitive analysis gives you (and your funders) the confidence that you’ve carved out a space in the market.
Step 5: Explain Your Products or Services
Give a detailed breakdown of what you offer and how it benefits your target market. This is also the place to describe any plans for expansion or innovation.
Include:
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Features and benefits of your products/services
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Pricing structure
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Product lifecycle and roadmap
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Sourcing, production, or delivery methods
Clarity in what you sell and how it adds value is crucial, especially when positioning your business for funding and growth.
Step 6: Detail Your Marketing and Sales Strategy
Even the best product won’t sell itself. Funders want to know how you plan to generate awareness, attract customers, and drive revenue.
Outline:
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Branding and messaging
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Digital and traditional marketing tactics
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Social media, email, SEO, and content strategy
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Lead generation and conversion plans
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Customer retention efforts and loyalty programs
A strong marketing and sales strategy shows you have a plan to consistently grow your customer base.
Step 7: Define Your Operational Plan
This section answers how your business will function on a day-to-day basis, from staffing to supply chain management.
Include:
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Physical location(s) and facilities
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Equipment, tools, and software used
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Suppliers and fulfillment partners
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Staff roles and responsibilities
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Inventory or production processes
A thorough operational overview reassures potential partners that you’re capable of delivering what you promise.
Step 8: Introduce Your Management Team
Investors and funding partners look at the people behind the business. Highlight the team’s skills, experience, and why they’re equipped to lead.
List:
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Key leaders and advisors
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Their qualifications and past achievements
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Roles and contributions to the business
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Plans to hire or expand the team
If you’re a solo entrepreneur, emphasize your background, track record, and support network.
Step 9: Present Financial Projections
This is one of the most important parts of your business plan, it’s where you show the numbers behind your strategy. Funders want to see realistic, data-based projections.
Prepare:
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Profit and loss statements
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Cash flow forecasts
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Break-even analysis
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Balance sheets
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Revenue projections for 3–5 years
Use charts and tables where appropriate to enhance clarity. If you’ve already made sales, include historical financials.
Step 10: Make Your Funding Request
If you’re seeking capital, clearly explain how much you need, how you plan to use it, and what the expected outcome will be. Tailor your request to match the services offered by funding providers like Spartan Capital.
Explain:
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Exact funding amount
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Allocation of funds (e.g., payroll, equipment, inventory, marketing)
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Timing of the funding
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How this funding will help your business grow or stabilize
Be specific. A vague funding request is a red flag. Demonstrating how capital will translate into results builds confidence in your plan.
A great business plan isn’t just about getting funding; it’s about running your business with focus and strategy. Whether you’re launching your dream or scaling an existing company, having a structured plan is key.
At Spartan Capital, we help small business owners take the next step forward by providing flexible, fast working capital solutions. If you’re ready to turn your business plan into action, our team is here to help make it happen!
Apply For Funding Today!