How to Write a Business Plan That Leads to Success in 2025

Benton Economic Partnership (BEP) provides business resources throughout the year to members and local entrepreneurs alike. However, there are plenty of tools you can tap into on your own to guide your business operations. One of the most valuable documents to develop this time of year is a business plan.

A business plan directs your actions and helps you evaluate how you will spend your time, money, and energy in the coming months. Developing an effective business plan and continuing to update it will help you make practical decisions and steer your business toward success.

Use this guide to develop your business plan for 2025 so you can move forward with confidence and clarity. 

Understanding Your Business Plan

A business plan identifies your company’s objectives and allows you to develop strategies to meet those goals. You can outline actionable goals and then document plans to achieve them. Your business plan also allows you to outline your mission, target audiences, key operational processes, marketing strategies, and more. While these plans should be developed annually, some entrepreneurs have quarterly reviews to check their progress and make adjustments.

“We love to support new entrepreneurs in Benton County,” says Amanda Othoudt, Executive Director for BEP. "Helping new entrepreneurs develop a solid business plan is not just about outlining goals—it's about crafting a roadmap that guides them through the challenges of growth, secures investor confidence, and transforms their vision into sustainable success. A well-thought-out plan is the foundation on which their business will thrive."

There are plenty of resources for developing your business plan. The national Small Business Administration website has templates you can use, or you can contact the Central Minnesota SBDC chapter through St. Cloud State for self-guided courses and direct assistance.  

How to Outline Your Business Plan

Every business is unique, which means your business plan might not perfectly align with the online templates. If you are making your own document, here are some factors to consider and incorporate into your business plan.

• Introduction: Provide a detailed description of your business, goals, legal structure, and uniqueness. List the advantages and disadvantages of your business compared to your competitors. 
• Promotions and Marketing: Describe your products or services, and list your target audience. Identify how you plan to promote your business and appeal to customers. This is also where you list your pricing strategy. 
• Finances: List the sources of your startup investment funds and develop a monthly operating budget for the year. Forecast the expected profits and total revenue for the year. You can also come up with “what if” statements and different approaches to potential issues. 
• Daily Operations: Describe how the business will operate on a day-to-day basis, including procedures for hiring and employees. Add insurance, rent, or lease agreements. Describe your operational process, from manufacturing the product to the customer’s receipt
• Concluding Statement: Recap your business goals and make it clear that you are entirely committed to your business’ success.

A business plan can range from five pages to 25 pages depending on what is included. As you work through your plan, identify any skills gaps you have. For example, financial forecasting can be challenging at first, but there are online resources to support your efforts. Alternatively, if marketing is your weakness, you might decide to take a course or attend a conference this year to develop fresh promotional strategies and skills. 

Successful Entrepreneurs are Committed to Learning

Small business owners know that growth is rarely linear. Building your organization comes with exciting opportunities and frustrating setbacks. As you grow, commit to embracing a student mentality. You can grow your knowledge of marketing, finance, taxes, and operational improvement in the coming years. You don’t need to be an expert in everything, just curious about how your business works – and how it can be better.

“Watching entrepreneurs transition from new business owners to confident company leaders is one of the most exciting parts of economic development,” says Othoudt. 

Follow the Benton County Partnership for More Resources

BEP is happy to support small business owners as they develop their business plans or better connect you to the SBA and other relevant resources. However, it also stands by entrepreneurs throughout the year. If you have a new business, consider becoming a member investor. We share business resources and host networking events throughout the year. You can grow your customer base through BEP or meet potential suppliers and vendors who will help you grow.

Invest in BEP today or follow our updates to stay involved in how we are helping Benton County grow.  You can also contact us at (320) 968-6197 or email us at aothoudt@bentonpartnership.org. We are always happy to assist you!