A business plan is a written document that outlines a company's goals, strategies, financial projections, and operational details, serving as a roadmap for its future growth and success.
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Last Updated: February 6, 2026
Turning a business idea into a reality is a pretty challenging endeavor. It’s more than just getting a registered agent and filing paperwork with the state. For many entrepreneurs, one of the ingredients in the recipe for success is drafting a good business plan. A good business guide can help an entrepreneur solidify the identity of their business, its goals, and more. This guide explains what a business plan is, its benefits, and more.
A business plan is best defined as a guide that outlines a business’s goals and how it plans to achieve them. Often, entrepreneurs need this form to prove to banks, investors, and even potential business partners that the company is serious and legitimate. Often, a well-drafted business plan makes it easier for a company to get a business bank account, secure a loan, or even plan a merger.
Getting a business bank account or obtaining a loan aren’t the only benefits of a good business plan. Here are a few others.
Drafting a business plan shows that an entrepreneur is serious about building their business into a powerhouse. A business plan isn’t something someone can write in an hour or even in one sitting. This is a serious project that can take weeks to put together and hours to research.
A good business plan highlights measurable objectives like sales, new product or service launches, customer satisfaction goals, marketing efforts, and more. All of these will look good if the entrepreneur is trying to entice investors.
A business plan helps an entrepreneur keep track of realistic milestones along with deadlines they plan to achieve, like how many customers they’d like to reach each month, quarter, or year.
A business plan allows a business owner to research and analyze the competition to see what they’re doing. This way, the company’s management team can brainstorm ways to stand out and become a worthy competitor.
A business plan will help an entrepreneur stay focused. It’s easy for business owners to get distracted by all the different items on their to-do list. A business plan can help an entrepreneur stay strategic even when they’re busy.
When an entrepreneur drafts a business plan, they’ll have to include specific information, including:
These are only a few considerations to add to a business plan. Entrepreneurs can learn more with this guide to the elements of a business plan.
Although mostly known as business plans, these documents can also be known as:
The average business owner might not be intimately familiar with the process of writing a business plan. Thankfully, ZenBusiness provides a helpful business plan template that can take some of the guesswork out of writing one.
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Creating a business plan is just one of the many responsibilities that an up-and-coming entrepreneur will need to tackle. Thankfully, ZenBusiness has a wide variety of services that can help make it easier to run and grow a business. They exist to help entrepreneurs turn their business dreams into a reality.
Disclaimer: The content on this page is for information purposes only and does not constitute legal, tax, or accounting advice. For specific questions about any of these topics, seek the counsel of a licensed professional.
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