75 Basic Questions Behind a Business Plan - Guide to Core Planning Topics

Sep 11, 2026

75 basic business-plan questions guide founders through setting clear goals, defining a startup or existing business, and designing practical methods to reach objectives. The document outlines essential sections—Executive Summary, Business Description, Product/Service, Marketing Plan, Operational/Management, and Financial Plan—then provides a structured prompt list for content creation. Questions cover capitalization, management, marketing, market targeting, competition, positioning, packaging, location, pricing, promotion, distribution, staffing, legal and regulatory needs, and cash-flow and break-even planning.

LanguageEnglish

CategoryPresentations

FormatPDF

Pages4

Reading Time2 min

AccessFree to download

Executive Summary

Business Description

Product/Service Description

Marketing Plan

Target Market

Analysis of Competition

Position, Packaging, Location, Pricing, Promotion, Distribution

Operational/Management Plan

Management, Staffing, Finance, Records, Resources

Financial Plan

Income, Costs, Cash Flow, Personal Needs, Break-even

75 Basic Questions Behind a Business Plan A business plan is a written document that clearly defines the goals of a startup or existing business and outlines specific methods for achieving these goals. An effective business plan acts as the management and financial blueprint for developing and growing your business. Your business plan needs to detail how your business will be capitalized, managed and marketed. A typical business plan includes all of the following sections: Executive Summary (always prepare last), Business Description, Product/Service Description, Marketing Plan, Operational/Management Plan, and Financial Plan. Each section provides answers to many of the following questions. The following questions are presented to serve as a guide to the main topics that need to be addressed in your business plan. Not all of these questions will apply to every business and answering all of the questions may not adequately describe some businesses. These questions are intended to stimulate your strategic thinking for your first draft of your business plan. Your final draft will be written in paragraph form. EXECUTIVE SUMMARY x A one paragraph summary of your unique business, target market, goals and objectives for your business. (Although this is the first section of your Business Plan, this section should be written last) . This is the most important part of the Business Plan and in some cases, all that a reviewer will read. BUSINESS DESCRIPTION x What is the name of your business? x What type of business is it? x Where will your business be located? x Is your business full-time, part-time, seasonal, etc.? x What is your business structure? (Sole Proprietorship, Partnership, Corporation, SCorporation or Limited Liability Company?) x What is the status of your business? (Startup, expansion, etc. ) x What makes your business unique and likely to be successful? x What factors will lead to the growth of your business? PRODUCT SERVICE DESCRIPTION x What is your product/service? What are the features? x What is unique (special qualities) about your product/service? x How does your product/service satisfy your customer’s needs? x What are the benefits and added value of your product? Page 1 of 3 To learn more about business plans and assistance for your business, please contact: [Steve Bob](Steve Bob-312.996.4057-sbob@uic.edu)[-312.996.4057-](Steve Bob-312.996.4057-sbob@uic.edu)[sbob@uic.edu](Steve Bob-312.996.4057-sbob@uic.edu) MARKETING PLAN Target Market: x Who are your potential customers? x Where do they live? x How old are they? x Are they male or female? x What is the size of your target market? x Is your target market stable, growing or shrinking? x What are the local and/or national trends in your industry? Analysis of Competition: x Who are your five nearest competitors? x What are each of their strengths and weaknesses? x Who are their customers? x Why do their customers shop there? x How much do your competitors charge? x Is their business steady, increasing or decreasing and why? x How will your business be different/better? Position: x How will your business be positioned against your competition? ( Better service? Lower price? Special niche?) Packaging: x For a product business: How will your product be presented? A bag with your business name and logo? A box? (Attach if available) x For a service business: What will your marketing material look like-business cards, logo, website, etc.? (Attach if available) Location: x Where will your business be located? x What factors will influence your choice of location? x What features will your location have? x How will your building contribute to your marketing strategy? x What are the features of your building layout? Pricing: x What is/are the price(s) of your product(s) and/or service(s)? x Why will your customers pay your prices? x If your price is higher than your co

FAQs

What is the purpose of a business plan in this document?

A business plan clearly defines goals for a startup or existing business and outlines methods to achieve them. It functions as a management and financial blueprint for developing and growing the business.

Which sections does a typical business plan include?

A typical plan includes Executive Summary, Business Description, Product/Service Description, Marketing Plan, Operational/Management Plan, and Financial Plan, with the Executive Summary prepared last.

What kinds of questions are covered in the financial plan section?

The financial plan prompts estimate total income by month or quarter, opening and twelve-month costs, monthly cash flow for the first year, personal monthly financial needs, and the break-even point.

Sep 11, 2026

Upload by Aria Callaghan