Use our business mind map template to craft comprehensive business plans. This mind map offers a solid structure for any business plan, which is an essential component when outlining a business format. Thorough business plans are also useful for companies in the long term, as investment firms are always drawn to them.
What is a business plan?
A business plan is a strategic document that showcases the roadmap of a business. It is also a vital component for new companies preparing for launch, as it communicates their identity, their mission, essential goals, as well as the strategy needed to reach them.
When do you need a business plan?
A solid business plan helps you grow your business and keeps you focused on the goals you have set up. Depending on the growth phase your business is in, other circumstances might require you to have a business plan at hand. Here are a few of them:
- Searching for investment rounds or loans
- Planning to hire and retain new valuable talent
- Looking for new business partners
What are the elements of a good business plan?
Our mind map template includes seven essential steps any business plan should cover. Once you have filled in the gaps, you can focus on achieving your goals. Here are some key elements you need to consider:
1. Executive summary
This part should be short and concise. Ensure that it contains a clear snapshot of your business and includes strategic points such as the business concept, mission statement, financial information, milestones or achievements, legal and administrative business information.
2. Business description
Start by offering information related to the industry the business is in - other markets or new emerging technologies that may impact your business is an excellent place to start.
Include information about the ownership structure of the company - are you the sole founder, or do multiple partners own the company? If you depend on partnerships or key resources, this is a good place to mention them. You can offer more details in the upcoming sections.
Financial projections, as well as the expected revenue, must also be included in this part, along with the sales, distribution, and promotion strategies you have devised. How do these connect to your business’ success?
3. Products and services
Describe the services or products you want to sell. Offer more details on what makes your business stand out and how you can stay ahead of the competition. What are the most significant opportunities for your product? What are the greatest threats you may be facing in the future?
4. Market strategies
Perform in-depth market research to become familiar with your competitors and uncover your target audience. Based on competition, you will be able to establish distribution, pricing tiers, as well as promotional strategies. Once you have managed to determine these elements, performing a market share projection becomes mandatory.
5. Development and operations
This category integrates three main concepts: product development, personnel, and budget. Setting up goals for product development should focus on two areas: technical and marketing. Specialized expertise is a requirement, which is why hiring personnel needs to become a priority. As budget ties into every aspect of a business, it needs to be meticulously planned and managed.
6. Management summary
This part is located at the end of the business plan and incorporates the founders’ story, along with the company’s organizational structure. State the key roles of your organization, as well as the persons who will fill them.
7. Financial information
Financial information refers to cash flow statements and balance sheets. Both highlight your business’ financial mechanism. Add a balance sheet and provide an extensive overview of assets, liability and equity.
Using the business plan mind map template in Moqups
Transparency is critical when it comes to disclosing business-related facts to potential investors. Moqups offers a wide variety of chart templates you can use for data visualization to ensure that the information you share is easily understood and can be analyzed immediately.
Mind mapping your business plan in Moqups provides you with the possibility of using a wide variety of features that go beyond the creation of your document.
With Moqups, you can map out processes that are vital to the success of your business. Our app lets you collaborate with business partners in real-time, and, based on mutual feedback, you will be able to adjust and improve your business plan so that it meets everyone’s expectations.