How to Write a Business Plan: SBA Traditional vs. Lean Startup Formats
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How we wrote this: A plain-English summary of the U.S. Small Business Administration's business guide on writing a business plan, checked October 29, 2026.
Why write one
The SBA calls a business plan the foundation of your business. It's a roadmap for structuring, running and growing it, and it helps you get funding or bring on partners. There's no single right way. What matters is that the plan meets your needs.
Two formats
| Traditional | Lean startup | |
|---|---|---|
| Length | Detailed; can run dozens of pages | Often one page |
| Time | More work upfront | Can take about an hour |
| Best for | Detail-minded owners and traditional financing; lenders and investors often ask for it | Simple businesses, a quick start, or a plan you'll keep revising |
Traditional plan sections
- Executive summary: what the company is, your mission, the product, the team, the location, and finances if you'll seek money.
- Company description: the problems you solve, who you serve and your competitive advantages.
- Market analysis: your industry, target market and competitors.
- Organization and management: your legal structure and an org chart.
- Service or product: the benefits, the product lifecycle, and any intellectual property or R&D.
- Marketing and sales: how you'll attract and keep customers, and how a sale happens.
- Funding request: how much you need over five years, debt or equity, and how you'll use it.
- Financial projections:
- For an established business, 3–5 years of income statements, balance sheets and cash flow.
- Five-year forecasts, done quarterly or monthly for year one.
Lean plan elements
The nine elements are key partnerships, key activities, key resources, value proposition, customer relationships, customer segments, channels, cost structure and revenue streams.
Related: start-up costs deduction, getting an EIN, licenses and permits.