68 www.blackeoejournal.com Black EOE Journal
hether your new years plans consist of starting a business for the irst time or reorganizing your priorities for a fresh start, you're going to need to a business plan. A business plan will not only help to keep your business organized, but is a necessary document to acquire funding, apply for certification and can be useful in forming partnerships. Heres what you should remember about forming your 2023 business plan:
Start with a Template
The first step in putting together your business plan is deciding which plan type is best for you. While there are many different kinds of plans, most businesses utilize one of the following: The Traditional Plan: You might prefer a traditional business plan format if youre very detail-oriented, want a comprehensive plan or plan to request financing from traditional sources. This plan usually takes longer to write, but is the most helpful when it comes to forming partnerships and requesting funding. The Lean Plan: The lean plan is a shorter version of the traditional plan, only citing the most important information. This plan is usually used to recruit new employees or in curating marketing strategies, where
New Year? You're Going to Need a Business Plan
your business needs to be summed up quickly. The Nonprofit Plan: As the name implies, this plan is for nonprofit organizations or any public entity that operates to help the public. The nonprofit plan includes everything that is stated in traditional plan, plus a special section that describes how the nonprofit plans to impact their community. These plans are extremely helpful for nonprofits looking for donations or company partnerships.
What to Include
Regardless of the format you choose, every plan should include the following aspects:
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