How do I write a simple business plan?

A business plan helps you think through your idea and is often needed for loans or investors. It does not need to be long: a clear one-page plan is a good start.

Keep it practical and update it as you learn.

Core sections

Describe the problem you solve, your target customer, your product or service and how you will make money.

Market and marketing

Explain who your competitors are, how you will stand out and how you will reach customers.

Operations and finances

Outline what you need to run the business, your start-up costs, pricing, expected monthly costs and sales, and when you expect to break even. Be realistic, and review it every few months.