The Business Plan - an Introduction

The Business Plan - an Introduction

If you plan on starting a business, developing a business plan is a vital first step. Business plans provide a summary of your business, and outline the steps you will take to make your business dream a reality. This course will teach you how to create a business plan, and introduce you to the key components usually incorporated in a business plan.

The Skills Shack
Updated Jun 14, 2024

What you'll learn

  • The importance of creating a business plan
  • Key components to include in your business plan
  • Why it's important to constantly update your business plan over time
Course Description

This resource provides an introduction to the key components usually included in a Business Plan. Each of the components could be a separate resource, and there are numerous templates and models available, we provide a link to some of the Australian Government sites to help with the development of a Plan.

A Business Plan provides a summary of the critical aspects of your business, and like any plan, a Business Plan sets out how you will achieve your goals and reach your destination.
For anyone starting a business, the development of a Business Plan is a vital first step.

A Business Plan can help demonstrate whether your business idea is viable and provides a basis for measuring progress towards the achievement of business goals.

Your plan contains information that others will use to evaluate your idea, especially if you are seeking funding or an investor in your business.

Preparing your Business Plan is one of the most important tasks you will undertake as you prepare to start your business. Your plan also becomes a living document that you should revisit and update regularly.


Target Audience

Start-Ups, small business owners and operators.


Learning Objectives

In this resource, we will introduce and provide an overview of the significant components of a Business Plan. These include:

  • Executive Summary
  • Product or Service Description
  • Operational plan
  • Marketing Plan
  • Vision and Mission Statements
  • Competitor Analysis
  • SWOT Analysis
  • Financial plan
  • Digital plan

We have also introduced ways you can use your business plan as your business developed and grows.


Business Outcomes

Improved awareness of the importance of planning and of the components that make up a business plan.