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Business planning is often conducted when:

• Starting a new venture (organization, product or service)
• Expanding a current organization, product or service
• Buying a current organization, product or service
• Working to improve the management of a current organization, product or service

There are a wide variety of formats for a business plan. The particular format and amount of content included in a plan depends on the complexity of the organization, product or service and on the demands of those who will use the business plan to make a decision, eg, an investor, funder, management, Board of Directors, etc.

Overall, the contents of a business plan typically aim to:

1. Describe the venture (new or current organization, product or service), often including its primary features, advantages and benefits
2. What the organization wants to do with it (buy it, expand it, etc.)
3. Justification that the plans are credible (eg, results of research that indicate the need for what the organization wants to do)
4. Marketing plans, including research results about how the venture will be marketed (eg, who the customers will be, any specific groups (or targets) of customers, why they need the venture (benefits they seek from the venture), how they will use the venture, what they will be willing to pay, how the venture will be advertised and promoted, etc.)
5. Staffing plans, including what expertise will be needed to build (sometimes included in business plans) and provide the venture on an ongoing basis
6. Management plans, including how the expertise will be organized, coordinated and led
7. Financial plans, including costs to build the venture (sometimes included in business plans), costs to operate the venture, expected revenue, budgets for each of the first several years into the future, when the venture might break-even (begin making more money overall than it has cost), etc.
8. Appendices (there are a wide variety of materials included in appendices, eg, description of the overall organization, its other products and/or services, its current staff, etc.)

Development of the business plan greatly helps to clarify the organization's plans and ensure that key leaders are all "on the same script". Far more important than the plan document, is the planning process itself.