A business plan sets out how a business idea is meant to become a viable business model. It helps you structure your idea, weigh up opportunities and risks, and prepare your financing. At the same time, it supports you in defining clear goals and making well-founded decisions.
In this guide, you will learn step by step how to write a business plan, set up a financial plan and use the right templates. That way you build a solid foundation for the next steps on your path into self-employment.
What is a business plan?
“What is a business plan?” is a question many founders ask themselves at the start of their self-employment. A business plan is a document that describes a company’s business idea, goals and strategy in a structured way. It shows how a venture is meant to be put into practice and which financial, organisational and personnel resources are needed for it.
A business plan is not just a point of orientation during the start-up phase. It is also an important basis for conversations with banks, investors or funding bodies. At the same time, it helps you spot opportunities and risks early and plan a company’s development in a targeted way.
Business plan structure: the most important components
The structure of a business plan should be clear and logical. It begins with the executive summary. It briefly sums up the business idea, target group, market, financing and goals. After that you describe your offering: which problem does it solve, who is it relevant for and why does it have potential?
Next, you introduce the founding team and show what experience you bring to the table. The market analysis examines the market, the competition and the potential of your venture. In the marketing and sales strategy, you set out how you want to win customers. After that comes the financial plan. It shows whether your venture is economically viable and how much financing you need. Finally, you assess possible opportunities and risks and define important milestones for the company’s further development. Together, these components form a coherent overall picture of your venture.
Financial planning in the business plan
The financial plan is one of the most important parts of a business plan. When you set out to create a financial plan, you should show clearly how much capital is needed to get started and how income and expenses are likely to develop. This is not about perfect forecasts, but about realistic assumptions.
A solid financial plan includes capital requirement planning, liquidity planning and a revenue forecast. The profitability projection matters too. It helps you better gauge the expected development of revenue, costs and profit. A break-even analysis additionally helps you determine the point from which your running costs are covered.
Alongside equity, loans, funding or investors are often viable sources of financing. Digital finance tools from Vivid help you keep an eye on income and expenses and spot financial trends early.
Writing a business plan: step-by-step guide
When you want to write a business plan, a structured approach helps. That way you keep the overview and make sure no important content is missing:
Good preparation forms the basis for all further decisions.
Explain which problem you solve, what value your offering provides and what sets it apart from other solutions.
Examine the market potential, competitors and possible opportunities and risks.
Decide how you want to reach customers and keep them for the long term.
Plan your capital requirements, running costs, expected revenue and liquidity as realistically as possible.
They help make progress measurable and track the company’s development.
Pull the most important insights together and carefully check the entire business plan for completeness and clarity.
Business plan templates and tools
A business plan template can make getting started much easier. It helps you structure the content sensibly and avoid typical mistakes. A template serves as a framework for your own business plan. Samples and examples, on the other hand, show how individual sections can be filled in and which information they typically contain.
The free templates from the Gründerplattform, the IHK and the Existenzgründungsportal are especially helpful. They include samples, guides and practical support for different business models.
Besides templates, digital tools can simplify financial planning. They support revenue forecasts, liquidity planning and the calculation of capital requirements. For more complex ventures, professional start-up advice can also be worthwhile.
Avoiding common mistakes
Anyone looking to write a business plan for free should avoid typical mistakes from the very start. The most common ones are:
Take enough time to review before you finalise it. Careful work makes it easier for banks, investors and funding bodies to assess your venture realistically.
A business plan for the bank
A business plan for the bank should be realistic, comprehensible and complete. Banks want to understand how the business model is meant to work, what capital is needed and on which assumptions the planning is based. This is not only about the business idea, but also about whether the figures and assumptions add up.
For the bank meeting, you should have your business plan, your financial plan and information on the founding team ready. Also prepare for questions about your target group, the competition and possible risks. Reliable figures build trust and improve your chances of securing financing.
Digital banking solutions for founders
The administrative effort is often particularly high during the start-up phase. Digital banking solutions help you make financial processes more efficient and keep track of income and expenses.
With Vivid, you can open a business account fully online. Expenses are captured in real time and transactions are categorised automatically. You can also integrate accounting tools to simplify recurring tasks. A central overview of your company finances helps you follow expenses and cash flows more easily and organise administrative tasks more efficiently.
Ready to start your business?
With the Vivid business account, you manage your finances in one place from day one – with sub-accounts, cards and tools for your bookkeeping.
Frequently asked questions (FAQ)
How do I write a business plan?
If you want to know how to write a business plan, free templates and online tools can make getting started easier. They help you structure the most important content. For complex ventures, professional start-up advice can also be worthwhile.
What belongs in a business plan?
If you are wondering what belongs in a business plan, focus on completeness. Key components are the business idea, the market analysis, the executive summary and the founding team. Banks and investors pay particular attention to whether the underlying figures are comprehensible and plausible.
How long does it take to write a business plan?
How long it takes depends on the venture. Many founders invest between 40 and 100 hours over several weeks. The market analysis, financial planning and research of relevant data take up especially much time.
Do I need a business plan as a freelancer?
A business plan for freelancers can help define services, prices and goals clearly. Banks or funding bodies also often require a business plan when financing is applied for. In most cases, though, it turns out shorter than for other business models.
Conclusion: launching successfully with a professional business plan
Anyone who sets out to write a business plan lays the foundation for a successful launch. A good business plan helps structure ideas, make realistic decisions and prepare financing. At the same time, it is not a rigid document but should be adapted regularly to new developments.
With digital banking solutions from Vivid, founders keep an eye on their finances and create a solid foundation for sustainable growth.
