Starting a business can feel overwhelming, especially when it comes to creating a business plan. But here’s the truth: a business plan doesn’t have to be a long, intimidating document.
It’s simply a roadmap to help you clarify your ideas and goals, and assist you communicating them to others.
To make it easy, we’ll use a simple template with four questions. For our examples, let’s imagine starting a motorcycle rental business in the Blue Mountains of Australia, but this process works for any business idea.
1. What Are You Going to Do?
This is your big idea. What are you offering, and why does it matter? Define your purpose and the value your business will bring.
- Example: “I will start a motorcycle rental business in the Blue Mountains, providing tourists with an adventurous way to explore the area.”
- Key Details:
- What problem are you solving? (E.g., tourists lack activities, flexible motorcycle rental options.)
- What’s your unique selling point? (E.g., scenic route recommendations, high quality motorbikes setup for touring and gear included.)
Takeaway: Keep it clear and concise. Imagine explaining your idea to a friend in one or two sentences.
2. How Are You Going to Do It?
This is your execution plan. How will you set up and run the business?
Focus on the steps, resources, and strategies you’ll use.
- Example:
- Rent a small garage near the mountains as a shopfront to lease and maintain the motorcycles.
- Create a website with a simple booking system.
- Partner with local tourism agencies and accommodation providers for marketing.
- Offer safety gear and route maps as part of the rental package.
Questions to answer:
- What resources or equipment will you need?
- How will you deliver your product or service?
- What systems or processes will you use to keep things running smoothly?
Takeaway: Break your plan into actionable steps to keep it manageable.
3. How Much Is It Going to Cost You?
Every business has costs! Understanding them is key to success.
Break it down into startup costs and ongoing expenses.
- Example:
- Startup costs: $50,000 for 3 motorcycles, $10,000 for 5 sets of gear, $5,000 for a website, and $3,000 for marketing.
- Ongoing costs: $5000/month for staff wages, $2000/month for garage rental and related expenses, $1,500/month for insurance, $1,000/month for maintenance, and $500/month for marketing.
Questions to answer:
- What are your upfront costs (equipment, licenses, branding)?
- What will it cost to run your business monthly (rent, salaries, supplies)?
- How will you fund these expenses (savings, loans, investors)?
💡 Takeaway: Be realistic but optimistic. Focus on making your budget sustainable such as thinking what scale the business needs to be to be profitable
4. Who Are You Going to Do It With?
Even the best ideas need a team. Think about the people, partners, and support you’ll need to succeed.
- Example:
- Yourself: Managing operations and marketing.
- Mechanic: Keeping motorcycles in top condition.
- Tourism partners: Local hotels and travel agencies to help spread the word.
- Customers: They’re more than buyers, they can become advocates for your brand and spread the word amongst communities .
Questions to answer:
- Who will handle the day-to-day tasks?
- Are there any skills or expertise you need to hire?
- Can you partner with others to grow faster?
💡 Takeaway: Success often comes down to the people you work with, building a strong team you can rely upon is important.
Why This Approach Works
A business plan isn’t about perfection, it’s about clarity and putting your ideas on paper. Something many entrepreneurs fail badly at!
By answering these four straightforward questions, you’ll create a plan that’s easy to follow and flexible as your business grows or you put more thought into it. Whether it’s renting motorcycles, opening a café, or launching an online store, this method keeps things simple and focused.
💡 Final Tip: Don’t overthink it. Start with a rough draft and refine it as you go. Every great business started as a simple idea.
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Need some more inspiration? Download and print this template to get started
What struggles do you have starting your business and ideas? Let us know in the comments below