Business Plan Writing

Awareness & Understanding

Every business you've ever used — your favorite restaurant, the app on your phone, the skateboard shop on 9th and 9th — started as an idea someone wrote down. A business plan is simply a document that explains what your business does, who it serves, and how it makes money. Start by watching "What is a Business Plan?" on the Small Business Administration's YouTube channel (youtube.com/sba). Then browse sba.gov/business-guide to read their free startup guide. Think of three problems in your neighborhood or school that a business could solve. Pick one that genuinely interests you. You're ready for the next step when you can describe your business idea in two sentences and name the problem it solves.

Research & Investigation

Before you write a single word of your plan, you need to understand your market. Who are your potential customers? Who else is already solving this problem? Use Google Trends (trends.google.com) to see if interest in your idea is growing. Search for competitors on Yelp and Google Maps. Interview at least three real people who might be your customers — ask what they need and what they'd pay. Check out the Utah Small Business Development Center (utahsbdc.org), which offers free advising to entrepreneurs across the state. Write a one-page summary of your findings. You're ready for the next step when you can name your top two competitors and describe how your idea is different from theirs.

Planning & Preparation

Now build your plan section by section. Use the free business plan template at score.org (SCORE is a national nonprofit with a Salt Lake City chapter). Your plan should cover: Executive Summary, Problem & Solution, Target Market, Competitive Advantage, Products or Services, Marketing Strategy, and basic Financial Projections. Don't worry about making it perfect — focus on thinking clearly about each section. Use Google Docs (free) to write and share it. For the financial section, create a simple spreadsheet showing your startup costs, monthly expenses, and how much you'd need to sell to break even. You're ready for the next step when you have a complete draft of all seven sections, even if some parts are rough.

Taking Action

Get real feedback on your plan. Share it with a SCORE mentor (free at score.org/find-mentor — Salt Lake City mentors are available in person and online). Ask them to poke holes in your assumptions. Revise your plan based on their feedback, especially the financial projections. Then create a short pitch — five minutes or less — and present it to a small audience: family members, a teacher, or classmates. Practice answering tough questions like "Why would someone choose you over the competition?" Record yourself if possible so you can watch it back. You're ready for the next step when you've presented your plan to at least one outside reviewer and updated it based on their feedback.

Leadership & Expansion

Level up by entering a real competition or sharing your plan publicly. Utah has several youth entrepreneurship opportunities: check out the Utah Entrepreneur Challenge (utahentrepreneurchallenge.org) and BYU's Entrepreneur Club pitch events. If competitions aren't your thing, post a summary of your business plan on LinkedIn or share it with your school's economics or business teacher. Mentor a younger student or friend who has a business idea — walking someone else through the process cements your own understanding fast. You're ready for the next step when you've shared your plan in a public or semi-public setting and received feedback from someone outside your immediate circle.

Impact & Reflection

Look back at everything you built over six weeks. What section of the plan was hardest to write? What did you learn about your idea from the customer interviews that you didn't expect? If you were going to actually launch this business, what would your first step be this week? Write a two-paragraph reflection covering what changed in how you think about business and entrepreneurship. Save your final plan — it's a real portfolio piece you can show future employers, college admissions officers, or actual investors. You're ready for the next step when you can explain your business model clearly to a stranger in under two minutes.