Action Steps for Writing a Business Plan

If you are in the process of writing a business plan, the ASBDC offers the following suggested Action Steps for Writing a Business Plan. These steps are intended to help guide you through the process and point you towards suggested information and tools.

Step 1: Review the Business Plan Outline and a Sample Business Plan

The business plan outline and sample plan can serve as a guide as you develop your business plan.

• Business Plan Outline

• Sample Business Plan

Step 2: Attend an ASBDC Business Plan Seminar or Take the ASBDC online Crafting a Business Plan Course

Participating in the business plan course will provide you with a good foundation as you begin to develop a plan for your small business. These courses are particularly helpful to those who have little or no experience in writing a business plan.

• Crafting a Business Plan online course

• Business Planning Training Calendar

Step 3: Conduct Market Research

Conducting market and industry research is an important part of the business planning process. Market and industry research are essential to determining the feasibility of your small business.

• Conducting Market Research

• Market Insight and Research online course

Step 4: Develop a Draft Business Plan Including Financial Projections and Information

The business plan outline should be the basis for developing a draft of your plan. Sample plans can also be used as a guide. The market research you located in Step 3 should also be incorporated into the business plan.

Arkansas Residents who would like to a request a review of their business plan can contact their local ASBDC office. The ASBDC staff can review your business plan and provide suggestions and feedback.

• ASBDC offices

Step 5: Update and Revise as Necessary

It is time to finalize your business plan. It is recommended that you have someone proofread the plan for grammar and spelling issues (the ASBDC does not proofread business plans). If you are using your plan to obtain financing, it is important to present a polished and professional image.

The Arkansas Small Business Development Center is funded in part through a cooperative agreement with the U.S. Small Business Administration through a partnership with the University of Arkansas at Little Rock College of Business and other institutions of higher education. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. It is the goal of UALR to eliminate discriminatory harassment and to promote equal opportunity regardless of race, gender, color, national origin, sexual orientation, age, religion, veteran’s status, or disability.