

Creating a new business can be a tough journey. Doing so while working full-time may seem tougher, but this route actually offers several benefits. You can continue earning money to put towards your startup. But even if you only work an hour a week building your company, you still need a business plan.
A business plan is critical to every small business, even for pre-startups. Why do you need one so early? It serves as your map through what might be a bumpy journey. A business plan gives you the best shot at a smooth ride.
The summary does just what the name implies: sums up all the information in the business plan. It works as a short sales pitch for your business. Also, if you need funding, this is often the most important (or only) section potential lenders will read, so include all major information.
You want to write this last after you’ve finished the other sections.
In this section, explain your business model, what your business does and how you will make money.
Another necessary section in your business plan is the financial forecast. Here you detail how much it will cost to start the business, where the money will come from and how you will spend it. You also include financial projections for growth.
This critical part provides backup evidence for everything you included in the business plan. Some data includes the size of the market for your product or service.
Creating a solid business plan will help you focus on what’s necessary to succeed. Read the remaining steps to entrepreneurship in the “16 Steps to Starting a Business While Working Full Time” guide to help people like you realize the dream of business ownership. Remember that you don’t have to go on this journey alone. Connect with a free business mentor at SCORE. For more guidance on business plans, see SCORE’s business plan template gallery. Good luck on your exciting endeavor!
Copyright © 2023 SCORE Association, SCORE.org
Funded, in part, through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.