annual business planning template

Annual Business Planning Template

Written by Dave Lavinsky

What is an Annual Business Plan?

An annual business plan is a document that sets out the goals and objectives for a company over the course of a year. It provides a roadmap for how the business will operate and achieve its desired results. The best business plan template will help guide you in creating a comprehensive annual plan.

Steps to Create an Annual Plan

There are seven steps to creating an annual business plan:

• Define the company’s overall vision and strategy.
• Set specific, measurable goals and objectives for the year.
• Identify the resources needed to achieve these goals.
• Create a timeline for each goal and objective.
• Assign responsibility for each goal and objective to specific individuals or teams.
• Review and revise the plan on a regular basis.
• Each of these steps is important in creating a well-formulated annual plan. Let’s take a closer look at each one.

Defining the Company’s Overall Vision and Strategy

The first step in creating an annual plan is defining the company’s overall vision and strategy. This involves deciding where the company wants to be in the future and outlining the steps needed to get there. It’s important to be realistic in setting these goals and to make sure they are aligned with the company’s overall strategic vision.

Setting Specific, Measurable Goals and Objectives

Once the company’s overarching vision has been defined, it’s time to set specific, measurable goals and objectives for the year. These should be attainable but challenging and should align with the company’s overall strategy. Each goal should have a target date for completion, as well as a specific metric that will be used to measure progress.

Identifying Resources Needed To Achieve Goals

Next, it’s important to identify the resources needed to achieve these goals. This includes everything from manpower and funding, to office space and equipment. It’s also important to assign responsibility for each goal/objective to specific individuals or teams. This helps ensure that everyone is aware of their role in achieving the desired results.

Creating a Timeline

Once goals have been defined and resources have been identified, it’s time to create a timeline for each one. This will help keep everyone on track throughout the year and ensure that tasks are completed in a timely manner. A Gantt chart can be helpful in organizing this information visually.

Assigning Responsibility

Finally, it’s important to assign responsibility for each goal/objective to specific individuals or teams. This helps ensure that everyone is aware of their role in achieving the desired results. By assigning clear responsibilities, tasks can be delegated efficiently and everyone will know who is responsible for what outcomes.

Reviewing and Revising Plan Regularly

It’s important to review and revise your annual plan on a regular basis. This ensures that the goals are still relevant and achievable and that the resources required are still available. It also allows for any necessary adjustments to be made if something isn’t working as planned. A good rule of thumb is to review the plan quarterly or more often if needed.

Parts of the Annual Strategic Plan Template

There are four key parts to the annual plan template:

1. Vision and Strategy

The first step is to define the company’s overall vision and strategy. This will provide a framework for all of the other steps in the process.

2. Goals and Objectives

The next step is to set specific, measurable goals and objectives for the year. These should be aligned with the company’s vision and strategy.

3. Resources

The third step is to identify the resources needed to achieve the goals and objectives. This includes things like budget, staff, and materials.

4. Timeline

The fourth step is to create a timeline for each goal and objective. This will help ensure that everything is completed on time and within budget.

The Importance of a Well-Formulated Annual Strategic Plan

The importance of a well-formulated annual plan cannot be overstated. It provides a clear roadmap for the company’s operations and sets forth a clear vision for its desired results. Additionally, it helps to ensure that all employees are aware of the company’s goals and objectives and are working towards the same end.

The Difference between an Annual Plan and A Company’s Broader Strategic Vision

The difference between an annual business plan and a company’s strategic vision is that the former is more focused on the specific goals and objectives to be achieved over the course of a year, while the latter is more concerned with the company’s long-term direction. An annual business plan lays out a roadmap for the company’s operations over the course of a year and sets specific targets to be met. A company’s strategic plan, on the other hand, is more concerned with the overall direction of the business and its long-term goals.

Ultimately the difference between an annual plan and a company’s broader strategic vision is that the former is more focused on the specific goals and objectives to be achieved over the course of a year, while the latter is more concerned with the company’s long-term direction.

Best Practices for Annual Planning

There are a few key best practices that businesses should keep in mind when planning their annual operations.  

First and foremost, it is important to be realistic about what can be accomplished in a year. Businesses should establish achievable goals and objectives, and then create a plan of action to achieve them. This includes setting timelines and specific tasks that need to be completed in order to reach the goal. 

Another key element of effective annual planning is creating a budget and sticking to it. Budgets help businesses stay accountable and track progress toward their goals. 

In addition, effective annual planning should always include regular review and course correction as needed. Businesses should routinely assess their progress, make necessary adjustments, and ensure they are still on track to meet their goals.

When it comes to business annual planning, there are a few best practices that can help your organization make the most of the process. Here are a few tips to get you started:

•  Set realistic goals. It’s important to set realistic goals for your annual planning process – this way, you’re more likely to achieve them. Be honest with yourself about what’s achievable and what’s not, and make sure your team is on the same page.
• Make a roadmap. Once you’ve set your goals, create a roadmap for how you’ll achieve them. This will help keep everyone on track and ensure that you’re making progress toward your targets.
• Use data to inform your decisions. When making decisions about your annual planning, use data to inform your decisions. This will help you make informed choices based on evidence rather than intuition alone.
• Communicate regularly. Make sure to communicate regularly with your team throughout the annual planning process – this will help keep everyone updated on what’s happening and ensure that everyone is working towards the same goal.
• Celebrate successes along the way. Celebrate successes along the way – this will keep everyone motivated and help ensure that the process is fun as well as productive.

Annual Contingency Plan Example

Sometimes it’s helpful to have a contingency plan or clause in case things don’t go as expected. Below is a sample contingency plan.

“In the event that we are unable to achieve our sales goals for the year, we will implement a number of contingency measures. These measures may include reducing our advertising budget, downsizing our workforce, and suspending operations at certain locations. We will only implement these measures if absolutely necessary and we are confident that they will help us to get back on track.”

Strategic Business Plan Example

Below is an example of a strategic business plan.

“Our long-term goal is to become the leading provider of XYZ products and services in our industry. To achieve this, we will need to increase our market share, expand our operations into new markets, and continue to innovate our product offerings. We are confident that we can achieve these goals and become the industry leader.”

Annual Business Plan Template

Executive summary.

The executive summary is a brief overview of the company’s annual plans while taking into account the company’s broader vision. It should include a description of the company, its products, and services, its marketing and sales strategy, its operations plan, and its financial plan.

Company Overview

The company overview section of the annual planning document should provide a brief history of the company, its mission and vision, and its current status.

Products and Services

This section of the annual plans should describe the company’s products and services in detail. It should also include information on the company’s competitive advantages and any new products or services that will be launched in the coming year.

Marketing Plan

The marketing plan section of the company’s strategy should outline the marketing and sales strategy for the entire organization for the coming year. It should include information on the company’s target market, its branding and positioning strategy, its advertising and promotion budget, and its sales goals.

Operations Plan

The operations plan section of the annual business plan should describe the company’s methods for manufacturing, distribution, and other aspects of its operations. It should also include information on the company’s capacity, its supply chain, and its quality control procedures.

Financial Plan

The financial plan section of the annual business plan should include a summary of the company’s financials, the budgetary approval process, contingency plans, as well as the broader visions and plans for funding and investment.

With regards to financials, you want to include past and projected Income Statements, Balance Sheets, and Cash Flow Statements. Also, if you are seeking external financing, document the amount of funding you need and the key expected uses of these funds.

Annual Goals

When creating your business plan, it’s important to set annual goals and objectives. This will help you track your progress and ensure that you’re on track to reaching your long-term goals. Some things you may want to consider when setting your annual goals include:

• Increasing revenue
• Expanding your customer base
• Improving product or service quality
• Reducing costs
• Developing new products or services
• Enhancing marketing efforts
• Expanding into new markets

One of the most important aspects of any business plan is setting annual goals. These goals should be attainable, yet ambitious, and should help to guide your business in the right direction. Some things you may want to consider when setting your annual goals include increasing sales, expanding your customer base, improving productivity or efficiency, reducing costs, or developing new products or services. Whatever your goals may be, make sure to document them and track your progress throughout the year. This will help you ensure that you are on track to meeting your targets and achieving success for your business.

The appendix of the annual business plan template should include any supporting documentation that is relevant to the plan, such as market research reports, financial projections, and product specifications.

Every company should have an annual business plan. This document helps you track your progress, set goals, plan forward, and make necessary adjustments throughout the year related to key results. Without a business plan, it is difficult to make informed decisions about where to allocate your resources or measure your success. If you need help getting started, we have a great business planning template that can get you on the right track. By following our simple tips and using our template, you can create a comprehensive business plan that will help ensure your success in the coming year. 

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How to Create a Profitable Annual Business Plan [+Free Template]

Updated: February 09, 2023

Published: October 15, 2015

The beginning of a new quarter is the perfect time to start planning the next year for your business. Start the next year or quarter off on the right foot by creating an annual business plan for your company.

Q4 often brings a flurry of business-related activity. And while all this activity helps fill the pipeline, it can distract you from reflecting on past performance and preparing for the year or quarter ahead.

Fortunately, you can write an annual business plan at any time of the year. Start your plan now to set your team up for success.

What is an annual business plan?

An annual business plan is just that — a plan for you and your employees to help achieve the company’s goals for the year. Think of an annual business plan as the guide to complete all of your company’s overall goals outlined in your initial business plan.

The first business plan you wrote for your business is the blueprint and the annual business plan is the detailed instructions to keep your business running long-term.

Usually, an annual business plan contains a short description of your company, a marketing analysis, and a sales/marketing plan.

Because an annual business plan is for the year, you’ll want to review your business at the end of four consecutive quarters and revise your plan for the next four quarters.

Why is annual business planning important?

Even though the fourth quarter might be a busy time of year, don’t put off creating an annual business plan.

Not only will your annual business plan keep you on track, it will also help you map out a strategy to keep your employees accountable. You can then more easily achieve the overall goals of your business.

Here are some reasons why it’s well worth creating an annual business plan for your company.

You can measure your success.

An annual business plan is the best way to measure your success. And I’m referring to the collective “you” here because it takes the entire company or all of your employees to make new business efforts effective.

An annual plan not only sets expectations for you but also for others within your company who need to contribute to the business’s success.

You can reflect on the past and plan ahead.

Creating an annual business plan allows you to reflect on the past 12 months.

As you reflect on the previous year, you’ll be able to get a good idea of what your business is capable of doing and set accurate, attainable projections based on previous numbers.

You’ll define your business goals.

Your annual business plan will shed some light on what the heck you do at your company. For those who are not routinely involved in new business, it can seem like a black hole of mystery.

Sharing your plan — whether to an executive committee, department heads, or even the entire staff — adds clarity and gives everyone something to aim for.

You can impress your boss.

If you head a department that could benefit from an annual business plan, don’t wait to be asked before you start writing. Get on your CEO’s schedule to review your outline and discuss your intentions for putting this plan together.

Sometimes the hardest part is getting started. You can get the ball rolling with the basic template that follows.

Annual Business Plan Template

Each section of your annual business plan will help tell the story of your company and clearly define your company’s goals for the year.

Let’s take a look at each section of the annual business plan template .

Executive Summary

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Annual Planning Templates: How to Make your 2021 Annual Plan

It’s that time of the year when annual planning returns to the top of your list. And while you already have some great ideas in mind, the hardest part is to document and lay out the whole plan. So today I’ll show you 15 free annual planning templates you can download right away and use in the making of your annual business plan.

What’s an Annual Plan?

Before we start, let’s be clear on what “Annual Plan” means. An annual business plan is a work plan that outlines the goals, resources and operations a company will execute in a 1-year period. It usually includes an annual budget, project deadlines, roles and responsibilities. In other words, the annual plan acts as a roadmap for the organization and aligns internal teams to the yearly business goals.

As you can see, the annual plan sets the direction a company will go for the next 12 months. But, how to do annual planning? It really depends on how big the company is and how detailed you want your work plan to be. In the following section, I’ll cover all the essentials you need to make a strong annual plan.

How to Create a Successful Annual Plan? (+ Free Planning PowerPoint Templates)

Most people know that annual planning involves assessing past results, setting realistic goals and defining how to achieve them. But it doesn’t end there! A crucial part of the annual business plan is the implementation and for this you need to effectively communicate the new strategies. To make all this happen, the 24Slides designers have created a selection of amazing PowerPoint templates to help you in the process of making and sharing your annual plan. Let’s see each step in more detail below:

Step #1: Assess Your Current Situation

Planning is all about reading a situation and making informed choices. So step #1 in your annual planning process is to review last year . It’s important to determine what worked and what didn’t work for the business. To do this you can gather data from past reports or talk to managers from each area. You can also interview key roles like customer service reps to know what clients liked or disliked from your products. All the activities in this stage should help you identify what went well and what could be improved next year.

To maximize your productivity, use a planning tool like the December calendar template . It will help you manage your time and keep things running smoothly from the beginning. In this template, you’ll find horizontal and vertical December calendars you can pick from to visualize your monthly activities. And if you prefer to see each event in detail, opt for this corporate agenda template .

Once you have all the information you need, it’s time to put together your findings and conclusions. For this, the Business Review template is a great platform to showcase the analysis you’ve done so far. It features charts, diagrams, and timelines to review key areas such as finances, marketing, operations, sales, and others. Plus, having your initial ideas in a structured report will make your annual planning easier as you can come back to these points at any time in the process.

The most important advice I can give you for this step is to be honest with yourself. Remember that you can’t change what you don’t acknowledge, so being objective while assessing your current situation is crucial.

Step #2: Set Goals and Priorities

Now that you know where you stand, it’s time to look ahead. Where do you want the company to be next year? This is where you think about all the possibilities and pick the ones that can work within the situation of the business (that’s why the first step was so important!). I’m sure there are a million things you’d like your team to accomplish, but you need to be realistic with your annual goals.

A good practice to start goal-setting with the right foot is to identify the business priorities . And for this, Pyramid diagrams are perfect to order topics in a hierarchical way. With these triangle shapes, you’ll be able to rank “problems to solve” according to its relevance, available resources, or impact on the business. This approach allows you to set criteria for every topic you want to work on and see what you should address first in your annual plan.

With all this in place, you already have a clear sense of where the company is going and now you’re ready to use one of the most powerful tools for annual planning: the OKR framework template

Objectives and Key Results (OKR) is a goal-setting system that makes you focus on your annual goals and how to make them happen. First, you set your Objectives, which should answer: What do you want to achieve next year? And then your Key Results or the measurable ways you can prove you’re achieving the objectives. Here’s a simple OKR example :

• Objective: Improve your brand presence online
• Key Result 1: Hit 200,000 visits to your website every month
• Key Result 2: Collaborate with 5 micro-influencers in a product release campaign

Check out this article to learn more about how to set your OKR goals !

Step #3: Define Your Strategies and Actions

Next on your list is the HOW of your plan . Note that in the OKR framework, your Key Results work as strategies for reaching your objectives. This means you can go straight to defining your actions. However, if you’re still new to OKRs, use this visual method:

Circle mind maps are simple yet powerful tools to come up with new ideas. Just place your goals at the center and use the branches for the actions your company should take. This is a great way to focus on what you want to accomplish while mapping out your business strategies . Here are some examples: Improving your customer service, targeting a particular niche, or increasing your company’s sustainability. Remember that they should be aligned to your goals and broad enough to break them into actions.

Following, you can use Gantt charts to plan out the actions involved in each strategy. These corporate Gantt charts are perfect to distribute your team activities throughout the year and set monthly or quarterly deadlines. You can also color-code events according to their status. As you can see, Gantt charts are an easy way to organize strategies and actions for the annual business plan.

And here’s an extra annual planning template! If you want to group your objectives, strategies, and actions in a single place, check out the 30 60 90 business plan template . It has creative timelines, a table chart, milestone slides, and more to showcase everything you’ve worked on so far. The great thing about a 30-60-90 plan is that it allows you to implement quickly and test your plan in the first 3 months. This way you can see if you’re on the right path to close the gap between where you are and where you want to be next year.

Step #4: Share the Action Plan with your Team

One of the top reasons plans fail is because there’s no clear implementation strategy. Thus, it becomes hard – if not impossible- to integrate the annual plan into the day-to-day operations. Luckily, we’ve addressed all this in step #3, but there’s still one thing left: communicate the HOW to your team .

What’s the use of putting together a great annual plan if you can’t execute it, right? That’s why a detailed action plan is key to help your staff understand how their efforts contribute to the company’s success.

And when it comes to sharing a work plan, this template is a must-have in your annual planning toolkit. The Work Plan PowerPoint template will help you showcase the next projects and activities. You can include business goals and key results so everyone knows what the company expects from them. And the best thing is that it’s full of engaging visual elements to hold your team’s attention exactly where you want it to be.

However, this stage is not only about stating what needs to be done, but also who is responsible for each action. To keep a common understanding of who does what in your plan, use the RACI Matrix template . With these charts you’ll be able to distribute tasks evenly and assign key responsibilities according to the RACI criteria: Responsible, Accountable, Consulted, and Informed. As a leader, you know how crucial effective communication is when managing teams, for that reason a RACI Matrix could be a great addition to the delivery of your action plan.

At this point, we’ve covered from activities and resources to deadlines and roles , which leaves your team ready to carry out the annual business plan.

Step #5: Implement and Review

The most common mistake in planning is believing that it ends when everything is up and running. And sure, it’s a huge accomplishment that what you had on paper is being executed in the real world. But don’t let that fool you! Your annual plan has one step more: Review the results.

The purpose of this stage is to evaluate the performance of your plan and determine whether your annual objectives were met. And, although most people do this at the end of the year, a recommended practice is to conduct these reviews every three months . This gives you the opportunity to see what’s working or not early in the year and adjust the direction of your actions on time.

Use the Quarterly Business Review template to compare your current metrics to the objectives you’ve established in step #2 . It has roadmaps and data charts to review your business performance, analyze quarterly projects, and monitor your team’s progress. Plus, with this corporate template, you’ll be ready to present early results to key investors or any other stakeholder interested in how the company is doing.

And there you have it: The 5-step annual planning process! But remember that it works like a cycle. Planning is iterative: you ideate, execute, review, and take what you’ve learned from the experience back to step #1 . This way you’re able to gain insights on what works best and craft stronger annual plans each year.

PRO TIP: How to Really Nail your Annual Planning?

Traditionally, people associate annual plans with large documents. The ones loaded with data and projections about the company. And while it’s important to have your annual plan in a well-organized document; this doesn’t add much to step #4: Sharing the action plan with your team .

Think about it: On top of their day-to-day tasks, will your team be able to read a text-heavy document from cover to cover? Of course not! And a huge part of your annual plan success involves getting everyone on board and excited about the upcoming projects. So, how about making your annual plan a presentation instead?

With an annual plan presentation, you’ll have control over how the company vision is delivered than through a Word document. This is also a great opportunity to motivate your team over what’s to come and resolve any question they might have. And what’s even more important: By the end of the day, you’ll make sure everyone is on the same page about the company’s direction for the upcoming year. It’s a win-win!

You can start building your presentation right now with the annual planning templates you’ve seen above. They’re all from Templates by 24Slides , our platform of free PowerPoint resources . Here you can download thousands of corporate PowerPoint templates and even opt for templates according to the industry you work in! Look at these examples:

Digital Marketing Agency PowerPoint Presentation

Digital marketing agencies move in a fast-evolving sector and it’s important that they refresh their strategies and services every now and then. With this dark-themed template agencies can showcase all they envision for the future and share the guidelines to make it happen. There are elegant visual elements like diagrams and lists to help deliver a solid business plan presentation.

Mobile Banking PowerPoint Presentation

This eye-catching template is for companies in the banking industry! If a mobile app is in the works, this creative template is ideal to share the plan with your team. It comes with amazing roadmaps, circle diagrams, and data-driven charts to display every detail of your annual plan. It even features mobile phone and tablet mockups! In short, the most complete presentation template you’ll find on mobile banking services.

Remote Onboarding PowerPoint Presentation

With the increase of remote work, it’s not difficult to guess that onboarding processes will need some adapting too. If your company plans for next year include the transition to remote onboarding, this template is for you. You’ll be able to show project goals, the open positions for each area, the steps to establish a new employee onboarding program, and more.

E-commerce Icon Set for Presentations

But presentation templates are not the only thing you can find on our Templates by 24Slides platform. There are also vector icons for your slides. Like the ones on top! E-commerce and online businesses can now use PowerPoint icons to enhance their annual plan presentation. They work wonders for showing processes, new site features or to easily explain something that otherwise would involve large chunks of text. Use them wisely!

Professional PowerPoint Design for your 2021 Annual Plan

Annual planning templates are definitely a great idea, but what happens when fiddling with PowerPoint the entire weekend is not your thing? Well, there’s an option for that too: Get your own custom annual plan presentation! Here at 24Slides , our PowerPoint designers can create a fully customized presentation for you. This means that instead of showing your strategies in old-fashioned bullet points, you’ll get to deliver your annual plan through a delightful visual experience for everyone. Including fussy managers and investors!

You send us average PowerPoint slides…

…and we give you extraordinary results – in just 24 hours!

Check out the 24Slides PowerPoint design services and take your annual plan presentation to the next level!

Create professional presentations online

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6 steps for operations leaders to build a better annual plan

An effective annual plan is critical to keep your teams, departments, and company together, working toward the same goals. 

As an operations leader, you oversee how your organization runs its business. By reviewing how your company performed in the past year, you and your operations teams can identify which strategies worked—and which fell short—to build an effective annual plan designed to maximize the impact of every department.

Here’s what you need to know about building a successful annual plan.

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Annual plans drive clarity and accountability 

With an annual plan, departments can start the year off with a strong understanding of the overall vision and how their work contributes to larger business goals. Without an overarching plan, it can be difficult to understand how a specific project or initiative moves the business forward. 

Clear goals establish benchmarks for project progress

Your annual plan shouldn’t be a set-it-and-forget-it goal. Rather, periodically check project progress against your annual plan so you can see how your operations teams are doing. Doing this throughout the year will not only give you a sense of how your teams are tracking towards their overall goals—it can also help you understand if they’re ahead or behind schedule, and adjust accordingly. 

If you notice that a specific initiative is not on track to meet the strategic goals outlined in your company’s annual plan, you can use this data to pivot and double down on—or divest from—specific initiatives. 

Establish concrete goals for a specific time period

The more specific your goal, the more concrete your action plan. Providing detailed and specific goals gives your employees a clear understanding of what work to prioritize and what deliverables they’re responsible for. 

Make sure your goals are measurable, as well. Clear KPIs and OKRs demonstrate how tangible work connects back to larger business goals. 

6 steps for annual business planning

The annual planning process often takes place near the end of the calendar year or at the end of your company’s fiscal year. As you get closer to annual planning time, consider these six steps of the annual planning process. 

1. Reflect on previous strategies—and develop new ones

Before your business can start planning for next year, ask yourself, your stakeholders, and your operations teams: How did we perform against the strategies laid out in last year’s annual plan?

No matter the answer, use these recent data points to steer your decision-making when building your next annual plan. That could mean doubling down on big programs or initiatives born in the last year—or going a different direction entirely. 

A well-built annual plan factors in reflection on what did and didn’t work—and improves off of it.

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2. Transform your business’s greatest needs into goals

After reflecting on last year’s performance, hone in on the most significant growth and improvement opportunities. Use this for guidance as you construct company- and department-wide goals.

It helps to have a consistent framework for goals across the business, to accelerate the goal-setting process and ensure greater understanding of goals within all corners of the organization.

The exact goal framework you use will depend on your company, but a few good ones to consider are: 

The Objectives and Key Results (OKR) method , which helps your business set goals using the framework “I will [objective] as measured by [key result].”

Key Performance Indicators (KPIs) , which use leading and lagging indicators to track how you’re performing towards your goals. 

The SMART goals framework , which helps ensure the goals your organization sets are specific, measurable, achievable, realistic, and time-bound.

3. Create an action plan to maximize impact

The next step is to create an action plan for your business to achieve the goals outlined in step three. Your action plan should outline the list of steps your teams need to take to accomplish their goals. Think of an action plan like the map you’ll use to arrive at your final destination. 

From there, delegate the work laid out in the action plan to specific teams and departments. Connecting the work that your operations teams complete to larger company goals makes it easier for each team to understand the impact their work has on the business.

4. Ensure the annual plan is everyone’s plan

Not everyone can be involved in building the annual plan for your company—but every team member should feel like their work is seen and accounted for in the plan. 

As the annual plan comes together, meet with leaders and employees across the business to ensure varying perspectives and priorities are factored into the final product. This step is critical for getting buy-in and generating excitement across the business. 

You don’t want to be in a position where you’re just telling everyone what the annual plan is—you want to bring every department along for the journey and get them excited about what they’re working toward in the coming year. Consider conducting a presentation to not only share the company plan and why this plan matters, but also to outline timelines and how departments will use it to achieve the company’s goals. 

5. Execute your strategy, monitor metrics, and adjust as needed

At this point, your organization’s annual plan is completed, but nothing is ever fully set in stone. As the year progresses, make sure you’re continually monitoring success metrics and KPIs. If the results of your strategies are not behaving as you expected them to, it’s important to adjust so your business will still hit the goals outlined in your annual plan. 

6. Repeat again for next year 

At the end of the year, it’s time to start the process over again. Align with your strategic plan, look back at the past year’s results, and create another plan to achieve those business goals. 

What does a good annual plan include?

Effective annual plans should contain components that are essential for completing the work outlined in the plan itself, and context for why this plan will be effective. Here are a few examples of components you would find in an annual plan:

Reports of the previous year’s performance: Your company’s annual plan for the upcoming year should be based on the data from the previous year’s performance. This provides context for your teams as to what they’re capable of doing within one calendar year.

Budget estimates: A common KPI investors track is return on investment (ROI). Knowing how much money different teams are spending makes it easier for your organization to calculate ROI and adjust strategies. Providing budget estimations also gives departments the context they need for the amount of resources they have at their disposal for the year.

Clear and specific goals: Annual plans should use the SMART goal framework so that your company can easily measure progress and report back on it later. 

Important milestones: Your business can accomplish a lot of work within one year—but to do that, each department needs to know how they're doing. Milestones operate like checkpoints, giving teams and departments a sense of direction and an idea of how they're pacing against annual goals.

Project buffers and contingency plans: Unexpected things happen all the time, and it’s better to be prepared than caught off guard. Develop a contingency plan for how your organization will get back on track in the event of an unexpected roadblock. Also set aside some resource buffers, such as a small portion of your company’s budget, to accommodate for unexpected expenses.

Gear up for next year

After a year of hard work, it’s time to reflect back and plan for more great things in the future. While annual planning takes time, collaboration, and thoughtful strategy, the efforts show in the form of your business success. 

Still have questions? We have answers. 

What is annual planning.

Annual planning is the act of developing a strategy for the upcoming year based on the learnings from the current year’s performance. This provides an opportunity for your operations teams to iterate on strategy from the past year and incorporate those learnings into your upcoming plans. 

In essence, your annual plan should contain: 

The goals your business needs to achieve

A strategy for how your organization will hit those goals

Clear tactics for what each department will work on

Any important milestones that benchmark progress

What’s the difference between annual planning and strategic planning? 

Strategic planning and annual planning are both important business planning methods that help set your team's strategy for the future. However, the scale of these planning strategies are different.

Strategic planning is the long-term strategy for your business. This encompasses a basic roadmap of how business should develop within three to five years. You will use your strategic planning process to inform your annual plan. 

Annual planning represents all of the goals and strategies that you want your business to achieve, similar to a strategic goal. The main difference here is that an annual plan only encompasses one calendar year, instead of a few years. If you think of it like a pie, annual planning is just one slice of the larger strategic plan pie.

When should your operations teams start annual planning?

Begin your annual planning process during Q4, so you can begin day one of Q1 with your plan in hand. If that’s not an option, do your annual planning as close to the start of the new year as possible. 

There are two benefits to planning earlier. First off, you’ll beat the end-of-year crunch, and avoid the stress that traditionally comes with the end of the year. Additionally, if you run an efficient annual planning process with your leadership team, your operations teams will still be free to execute on high-impact projects throughout Q4.

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Annual Planning: 5 Easy Steps To Plan Next Year (+Template)

Get ready to take your strategic annual planning game to the next level! This process is essential for companies who want to set a clear direction for the future and ensure everyone is working towards the same goal. 

But, let's be real, executing a killer strategic plan is easier said than done. That's why we're here to help you help you build a bullet-proof annual plan for the upcoming year.

In this article, we'll dive into the nitty-gritty of annual planning and cover all the tips and tricks you need to know. From involving the right people to communicating your plan like a pro, we've got you covered. 

We'll also share some common pitfalls to watch during the annual planning process and provide real-life examples to help bring it all to life. 

So, whether you're a seasoned planning pro or just starting out, get ready to learn how to make your annual strategic planning a total success!

In this article, you’ll discover:

What Is Annual Planning?

• The Benefits of The Annual Planning Process

5 Steps To Build A Highly Effective Annual Plan

• The Only Annual Planning Template You Need in 2024
• 7 Mistakes to Avoid When Conducting Annual Strategic Planning

Build And Execute Your Annual Plan With Cascade 🚀

🎥 Prefer to watch? Check out our YouTube podcast on "Planning for the New Year" for insights on reflection, goal setting, budgeting, and monitoring strategies.

Annual planning is about turning  long-term business goals  into short-term action plans for the year ahead. It contains insights from past performance and a clear roadmap with a timeline. This yearly plan should be realistic and achievable, while also being ambitious enough to move the business forward.

Annual planning is your opportunity to take the previous year's wins, knocks, and lessons and adjust your strategy to help your business grow consistently and become better.

Miriam Lesa, Strategy Execution Director at Cascade , emphasizes: "It’s not about starting from scratch. Reflect on the wins and lessons from the previous year. Because as you're approaching the new year, you already have a good indication of what's worked and what hasn't. That reflection is crucial to set you up for success."

Annual planning and regular reviews help you proactively adjust strategies, adapt to changes, and steer your organization in the right direction to get the business results you want by the end of the year or toward your  vision  in the future.

The Benefits Of The Annual Planning Process

Whether it's your IT,  supply chain , pricing, marketing,  operations , or sales strategy—improving, pivoting, or optimizing your annual planning approach from one year to the next year is non-negotiable. The annual planning process will help you assess the effectiveness of your  business strategies  and make adjustments to keep up with customer needs and market trends.

An effective annual planning process for the new year can offer the following benefits.

Provide strategic clarity

Annual strategic planning helps define and align goals, mission, and values, leading to more focused and effective decision-making across all levels of the organization. This in turn sets a clear and consistent direction for future initiatives, maximizing the organization's potential to achieve success.

Maintain long-term focus

By regularly reviewing and updating its  strategic plan , your organization stays focused on long-term objectives instead of being constantly sidetracked by day-to-day operations.

Laura Blackmore, Head of Strategy Execution at Cascade , advises, “You need to reflect on the last year's performance and celebrate your wins. Taking stock of what worked will help you build on your strengths going into the new year.”

Benchmark performance

An annual strategic planning process helps you measure and track progress on key  strategic initiatives , and evaluate the progress made compared to last year.

Identify gaps and opportunities

By regularly reviewing your strategic plan, your teams will  identify gaps  and opportunities for improvement and innovation, which can help you stay ahead of your competition.

Optimize resource allocation

By  aligning your strategic plan  with your budget, you can allocate resources that will support your goals and cut costs from misaligned initiatives.

Increase engagement and buy-in

Involving  key stakeholders  in the strategic planning process will increase engagement and buy-in across your organization, leading to a more cohesive and motivated team.

A clear and execution-ready annual plan that focuses on the big picture and pays attention to the details can be the glue that binds your teams together. And this is crucial if you want to reach this year's goals with greater speed and efficiency. Plus, it's much better than the alternative of just winging it and hoping for the best!

📚 Recommended read:  How To Create An Effective Annual Operating Plan (+Template)

Don't get us wrong—creating and managing a yearly planning process can be a daunting task. But, with the right approach, you'll be able to get it right and  start executing faster.  Here's how to do annual planning the right way:

1. Analyze your performance and identify opportunities

Before you  set goals , you should do an analysis of your company's current performance, market, and competitors to see where you stand.

Miriam advises, “Do a proper post-mortem. Look not only at what worked in terms of your business, but also in terms of processes, customers, and employees. This holistic check-in will give you a great starting point for your annual plans.”

Here are some tools you can use in the process: 

• SWOT analysis
• PESTLE analysis
• Porter’s Five Forces
• Competitive analysis 
• Financial performance of the previous year
• Gap analysis  

A better understanding of your current performance can help you make data-driven decisions when building your annual plans for the year ahead. 

Want to make it fail-proof? Don't forget to include key stakeholders who will be involved in the day-to-day execution of your annual plan. 

Here's who should be included in the analysis process: 

• Executive leadership: They are responsible for setting the overall direction and strategy for the organization.
• Department heads and team leaders: They can offer insights into team capabilities and resources. They can provide insight into the specific needs and challenges of their teams and ensure that their  operational plans  align with the annual plan.
• Employees: Employees often have valuable insights and ideas that can help improve the plan. By involving them in the planning process, you can tap into this wealth of knowledge and potentially identify new opportunities or challenges that may not have been considered otherwise.
• Customers: Customer feedback is critical to understanding the needs and priorities of the target market.
• Suppliers and partners: Depending on the nature of the business, it may be beneficial to involve suppliers and partners in the strategic planning process. They can provide valuable insights into industry trends and potential challenges. 

👉Bonus tip: Don't let analysis paralysis slow you down! Set a timeline, prioritize data, make informed decisions, and don't overthink it. Move into the  execution phase  as fast as possible. Adapt later.

2. Formulate your strategy 

The data and insights from Step 1 should inform the formulation of your strategy for the coming year. At this point, you should have a clear sense of direction and objectives that your company wants to achieve in the coming year. 

💡 To identify and formulate your strategy, consider the following questions with your team:

• What is the business problem that we are trying to solve?
• What are our core  strategic objectives , and how will we measure success?
• What are our  key strategic initiatives,  and how will we prioritize them?
• What are our  key performance indicators , and how will we track progress?
• Are there potential  risks , and how will we mitigate them?
• What resources will we need, and how do we allocate them?

Answering these questions will help you test the validity of your strategy and identify any potential gaps or risks that need to be addressed. In this way, you'll build a solid foundation for your annual plan and increase the chances of its successful execution.

3. Build your annual plan

Next, you'll need to  turn your strategy into a detailed roadmap  that outlines the steps you'll take to achieve your annual strategic objectives and goals. 

Laura advises, “When building your annual plan, don’t over-complicate it. Start with high-level goals and break them down into more specific actions—focus on clarity and execution.”

It's like taking a map from a broad view of the journey to a more detailed look that zooms in on the roads and landmarks you'll need to follow to reach your destination.

📝Your annual plan should include the following:

• 🔎 Focus areas: The specific areas of the company or its operations that need improvement.
• 📌 Goals and objectives: Specific outcomes the company wants to achieve in its yearly plan. 
• 📈 Measures:  Deliverables and Key Performance Indicators ( KPIs ) to track progress toward your company's goals and objectives.
• 📤 Actions: Specific actions or projects to achieve goals and objectives.
• 😎 Owners: Individuals or teams responsible for implementing the actions.
• 📆 Due dates: Specific deadlines and milestones throughout the year.
• 💰 Budget: Allocating the resources to achieve goals and objectives.
• 🛡 Contingency plans: Predefined responses to potential risks that could impact the execution of your annual plan.

👉Here’s how Cascade can help you:  

Cascade's  strategic planning feature  gives your annual planning process a standardized and structured approach that includes all the key elements for success. It helps you set high-level annual goals, break them down into smaller initiatives, and assign owners to drive accountability.

4. Create tight alignment with your teams

If the leadership team's job is to set high-level company priorities to frame key strategic initiatives, then it's up to specific business functions or teams to chart out the path to reach those  strategic goals

The first step in ensuring  strategic alignment  is to clearly communicate the plan to all employees. This can be done through regular meetings, company-wide presentations, and other forms of communication, such as a central location for your annual plan that is easily accessible to your stakeholders.

The key is to make sure that everyone understands the goals and objectives of the plan and how their work fits into the bigger picture.

Laura mentions, “You need to get a bird’s-eye view of where the organization is heading and ensure the entire team is aligned with that direction before moving forward with your annual business planning.”

👉Here's how Cascade can help you:  

With , you can link your annual strategic plan to individual departmental or team plans in a single source of truth. As a result, it's easier to ensure that everyone in the organization is aligned with the goals and objectives and monitor the progress being made toward those goals.

5. Monitor progress and adjust your plan

Gone are the days of static, set-in-stone strategic plans! It's time to embrace flexibility and be willing to make changes as needed. Your annual plan is a flexible, dynamic roadmap that should be adjusted as circumstances change or new information becomes available. The key is to stay focused on your goals and objectives, and  be ready to pivot when needed

Here are some steps that you can take to monitor the annual plan and adapt as needed:

• Set up a system for tracking progress: This can be done using a variety of tools, including spreadsheets,  strategy reports ,  strategic planning software , or  status reports .
• Establish regular review meetings: These meetings can be weekly, monthly, or quarterly, depending on the needs of your organization. The key is to make sure that progress is regularly reviewed and that any issues are identified and addressed in a timely manner.
• Monitor key metrics: Track the most important KPIs that will help you quickly catch underperforming areas and evaluate the success of your annual plan and business strategies. 

If you want to be a savvy business leader, you need to always be monitoring progress, the business environment, and adjusting your plans accordingly. So, let's ditch the rigidity and embrace the flexibility of modern strategic planning and strategy execution! 

With Cascade's powerful data visualization, you can connect multiple data sources from spreadsheets, project management tools, or business intelligence tools in a single place. You'll be able to uncover powerful insights and deliver accurate  reports  to help stakeholders make better decisions.

Plus, Cascade's drill-down capabilities allow you to easily explore and interact with your data to gain deeper insights in real time.

The Only Annual Planning Template You Need in 2025

Ready for some serious annual planning made easy-peasy? We've got just the thing for you—our  annual planning template ! This bad boy is like your own personal planning sidekick, packed with all the goodies you need to align your teams, monitor performance, and rock this year.

Think of it as a one-stop shop for all your annual planning needs. It's pre-filled with examples that can guide you through the planning process, or you can customize it with your own information.

It’s a great alternative if you want to get out of messy and ineffective spreadsheets. Plus, it's got a super simple layout, so you won't be bogged down by a bunch of unnecessary features. This template can help, regardless of whether you work at a startup or an enterprise-sized company. And no matter the industry you’re in. 

Don't believe us? Give it a try! We guarantee it'll make your annual planning process a whole lot smoother and its execution a whole lot faster. So what are you waiting for? 

Sign up for a free forever plan with Cascade, add the annual planning template to your profile, and level up your game. It’s that simple. 

👉 Click here to get instant access to your annual planning template.

7 Mistakes To Avoid When Conducting Annual Strategic Planning

Alright, before you dive deep into your yearly planning session, let's talk about the elephant in the room:  planning and execution mistakes . In this section, we're diving into some of the most common blunders made during the annual planning process, so you can dodge them like a boss.

Lack of stakeholder engagement

Failing to involve critical stakeholders in the planning process can lead to a siloed plan that doesn't align with the organization's capacities, needs, and priorities. 

Unrealistic goals

Be sure your planning is grounded in your situation's realities and consider your organization's resources, skills, and timelines. This is why it's crucial that you consult with various stakeholders when planning and executing your strategy. If you need a  goal-setting  framework, you can check  OKRs  (Objectives and Key Results). Or take a look at these  5 best strategic planning models  to help you set SMART goals.

Miriam emphasizes, “Goals shouldn't be hastily formulated or carried over without proper thought. Take the time to carefully set realistic and impactful objectives for the upcoming year.”

Lack of flexibility

View your plan as a flexible roadmap, not a rigid set of rules, and be prepared to adapt as the business environment changes. The “perfect plan” doesn't exist. As  76% of corporate strategy leaders  report significant pivots in strategic plans happening more frequently, you need to be ready to expect the unexpected. 

Lack of resources

An annual plan that doesn't consider your team member's knowledge and skill sets won't result in tangible outcomes. Additionally, ensure that your business has the necessary resources and that your annual plan won't cause a cash flow crunch.

Inadequate communication

Clear and  transparent communication  is crucial for success, so communicate plans to all stakeholders and ensure they understand the goals and how they fit into the organization's overall strategy.

Laura explains, “Communication is often overlooked. You need to communicate the process before it starts, communicate expectations during, and then communicate the outcomes.”

Lack of follow-through

Nobody wins if your teams aren't hitting goals, and your strategy is just a document collecting dust. According to  Cascade's Strategy Report , less than 20% of team members review progress weekly. Set up regular progress reviews and take corrective actions as needed. Ignore this pitfall, and you'll set your strategy up for failure.

Misalignment between business strategy and team goals

Strategy execution is a team sport, and everyone needs to be on the same page. Share annual business goals with your team leaders and their team members. Let them  set their team goals  independently, give them feedback, and ensure buy-in early on.

Ready to tackle your annual planning with confidence? 

Remember, the key to success is having a clear plan in a single source of truth, organization-wide alignment, and being flexible enough to adapt when necessary.

And as a final reminder, don't forget to check out our annual planning template! It's the perfect tool to help you structure your plan, get your teams aligned with your strategic priorities, and keep track of your progress so you can adapt quickly if needed. 

So don't miss out,  book a demo with one of our strategy experts or sign up today for free , and let's get started!

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Annual Planning: Why Is It So Important?

On a personal level, planning is an essential aspect of everyday life. And when it comes to companies, whether small or large, planning is equally essential. Annual planning is one of the most important activities that companies do every year because it provides an opportunity to set the overall direction of a company by discussing goals, metrics, budget, and performance.  

Last updated on Sep 28, 2024

What Is Annual Planning?

Annual planning can be defined as the process of defining a business roadmap for your company and your employees. It can also be seen as an organization's financial plan for the year, and it is comprised of a series of milestones that help to carry the plan forward through several tasks that lead to a broader vision of where the company aims to be by the end of the year. 

Companies must hold planning sessions to review last year’s performance, as well as specific goals and achievements. These sessions will help to analyze expectations and results from the previous year in order to create an annual plan that gives everyone in the organization a sense of where they’re headed, and where they want to be twelve months from now. 

Is Annual Planning the Same as Strategic Planning?

Strategic planning is about establishing goals to sustain the company’s vision. Is about creating a strategy where the end product is a long-term plan that includes identifying goals, as well as mapping out how exactly those goals will be met. The process of strategic planning involves choosing a methodology, assessing resources, and receiving feedback from both external and internal stakeholders. A strategic plan can also be implemented during the course of years, and not necessarily within one business year. 

To put it simply, the strategic plan will identify the framework for a company to advance on its mission. The annual plan can include goals directly related to the strategic plan but it is largely connected to the budgetary approval process for the next business year, and as such, annual planning is usually conducted by leadership or directors. 

Why Is Annual Planning Important?

A well-formulated annual plan is an opportunity to set the overall direction for your company. It can also help to empower the team by providing a sense of direction. Let’s take a look at the most relevant benefits of annual planning:

• Annual planning generates efficiency because it circles around performance.
• It helps to define what is critical to achieving over the year.
• It delivers clear leadership to employees and it helps to keep the workforce united.
• Employees gain a clear sense of direction in their departments and roles. 
• An annual plan can rally an entire organization around goals. It can also provide a stronger connection to the company’s strategic plan.

What Is Included in an Annual Plan?

Generally, an annual plan will contain the following elements:

Goals. Before you can look forward it’s important to look back. For this, it’s a great idea to review your SMART (Specific, Measurable, Attainable, Relevant, Time-Bound) goals, they can help to clarify ideas, focus efforts and ensure resources are being used in the most productive manner. Remember, your annual plan should also hold a strong connection to your company’s strategic goals.

Budget. Financial elements are key to annual planning, so it’s important to take into consideration projections for the upcoming 12 months. These projections will help you plan resources, cash flow, and decide the best course of action and timing for individual projects. 

Expectations, responsibilities, and clear OKRs. Goals need to be clearly specified, indicating which teams, individuals, or departments will be responsible for carrying out tasks. Expectations must be exceptionally clear for collaborators. Also, working with well-defined OKRs can help to keep teams on track because they help to provide visibility into what other teams and individuals are working on. It’s all about maintaining the workforce motivated and crystal clear regarding who’s in charge of what. 

Timelines. When measuring performance it’s important to understand how successful your company has been in terms of achieving goals within their deadlines. Split your goals into tasks and set deadlines. 

Contingency plans. A well-formulated annual plan will also consider emergencies. It’s always a good idea to think of alternate scenarios, such as what would happen if suddenly your cash flow would become compromised? 

Values and mission. It’s also instrumental to keep your company’s aspirational future vision in mind when working on your annual plan. 

Annual Planning: 

When it comes to managing annual plans and strategic plans , you need to be on top of everything. A strong annual planning strategy can help to build a company’s broader strategic vision and to set the overall direction of a business roadmap for the next 12 months. However, as you may already know, this process entails keeping track of critical information. This can be an exhausting and difficult process, but it gets easier when you use the right tools. 

Project management software can be a powerful ally for project managers. Instagantt , for instance, allows you to keep information centralized. You can quickly store, update, share, access, and review important company-related information , all in one single place. With gantt charts , you can keep track of your budget and streamline your business plan, making sure you and your team stay on track. Moreover, you can use the same tool to keep track of your strategic and your annual plans, which will help to increase transparency across the organization, keeping track of the key results you’re trying to achieve, and visualizing progress and performance at all times. With the right tools and processes, you can create and execute a strong annual strategy.

Template: Annual Planning Example

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How to create a successful annual business plan

Here is what you need to know to create an effective and comprehensive annual plan for your department or company:

What is the purpose of annual planning?

An annual plan acts as a roadmap for your company. Annual planning allows you to go into a new fiscal or calendar year with specific and measurable goals set, budgets finalized, and a plan for how to measure progress on and achieve your company’s organizational and financial goals. Through this process, you develop the vision of where you hope that your company will be at the end of the year and the map of how you will get there.

You can also use annual planning to set goals and plans for individual departments or teams within an organization. Create marketing plans, human resource plans, and more to keep each segment of your business on track, reset your goals, and get your teams aligned towards common goals and initiatives. Since trends, consumer habits, and other factors change frequently, it’s good to create a fresh one-year plan each year.

Annual plans complement strategic planning while providing more short-term (one year) goals that are often tied to financial goals as well as the annual budget. Strategic plans often have more overarching goals that work to advance the company’s mission over three years or longer. Your annual plan will likely include goals that play into these longer-term goals in your company’s strategic plan.

Evaluating existing and prior year goals

Start your process by evaluating your current starting point. Take time to look back at last year’s annual plan and evaluate whether you achieved your set goals or fell short in certain areas. Attempt to determine why you fell short on specific goals and what steps you could take to prevent a repeat of that issue. This will help you set realistic goals for the new year.

This is also a great time to review your company’s:

Mission statement. This is a statement that describes the purpose of your organization. What does your business do and what does it hope to accomplish?

Core values. These are the principles, beliefs, and values that your organization’s culture is built on. These values shape how you do business, and as such, should shape your annual plan.

Strategic plan. Your strategic plan should detail your business plan and long-term goals while taking market conditions into consideration. Your annual plan should complement your overall strategic plan.

Financial reports. Review the prior year’s budget reconciliation, cash flow statements, and year-end reporting. If you have access to budgets or financial forecasts for the upcoming year, review them now. If not, they’ll need to be created later in the annual planning process.

Keep all of these documents handy, as you may need to reference them as you move through the annual planning process.

Create an updated SWOT analysis

It’s also time to update or create a SWOT Analysis chart for your company. A SWOT analysis is typically depicted as a four-quadrant square with the following quadrants:

Strengths. List out the things that your company already does well and your internal strengths. Perhaps you have a large Instagram following with a strong network of influencers promoting your product. Maybe you have unique branding, patents, or technology that set you apart from competitors. This section is your highlight reel from prior years and can also include strengths like new products or developments being released in the new year.

Weaknesses. Now it’s time to consider what can be improved. List out your company’s internal areas of weakness. A good way to identify weaknesses is to look at customer feedback. Do customers like your product but complain about the processing and delivery times? A weakness can also be staffing-related such as high turnover or taking too long to fill open positions. A common marketing weakness may be lack of media mentions or ranking low in Google search results for your product or business type.

Opportunities. These are external opportunities that you can take advantage of in the coming year. Are there new trends or technologies that could boost the success of your business? Is it time to start marketing your products to Gen Z? Are there changes in government regulations or laws going into effect in 2022 that could have a positive impact on your business?

Threats. Explore potential external threats to your company’s growth and success in the coming year. Maybe the current supply chain problems mean that you will have manufacturing or delivery delays in 2022. There could also be legal changes that negatively impact your business. Threats could also come in the form of major competitors or market saturation. Knowing what may threaten your success will help you build a plan to overcome these challenges, so be thorough with your market analysis.

After creating a company-wide SWOT analysis, consider breaking things down even further and creating a SWOT analysis on specific aspects or segments of your business.

For example, a marketing SWOT chart can help you identify what you need to adjust in your marketing strategy for the new year. Many businesses, especially small businesses, may have strong Facebook and Instagram accounts but weaknesses in the area of SEO. Reaching new audiences and market segments through TikTok may be an opportunity if your business has not jumped onto the platform yet. A new year is a great time to do a SWOT and update your ideal customer or target demographics to evaluate opportunities for expansion.

Goal setting with SMART goals

It’s a good idea to start off the new year by setting goals for your employees, departments, and the company overall. This creates trackable metrics to measure your company’s success at each level throughout the year. The best way to create goals is to use the SMART goal system.

Specific. Aim to make your goals specific and to identify who will be involved in the goal. A general goal would be to increase brand awareness. Specific goals would be growing your LinkedIn following to 10,000, obtaining 10 media mentions, or ranking one the first page of Google results for a specific target keyword. Within each of those specific goals you could identify who is responsible for them; a social media manager, PR or media relations team member, an SEO consultant, or in a small business, it may just be a digital marketing manager. Regardless, it’s helpful to define who is involved and who will oversee progress.

Measurable. Define how you will measure the success of each goal. What metric will you use to track progress towards the goal?

Attainable. Your goals should be realistic. They can be somewhat ambitious, but avoid including stretch goals that are unlikely to be achieved within the year with your anticipated staffing levels, budget, and level of consumer awareness. Of course, start-ups would love to score a major investor or have their company go viral and generate a huge amount of buzz with consumers, but unless you have reason to believe either of those is on the horizon, leave out goals that depend on unrealistic or unpredictable events. Also, leave goals that will take several years for your strategic plan.

Relevant. The goals that you set for this year should be relevant to your company’s vision, mission, and long-term objectives. This is why it’s helpful to start the process by looking at your mission statement, vision, and strategic plan.

Time-bound. All goals should have a clearly defined time frame including a specific deadline date. For annual planning, the timeframe may be one year, or you can break your goals down into monthly or quarterly goals and adjust the deadlines as such.

You’ll likely end up with a decently long list of goals for your company. As mentioned in the Specific criteria, breaking down your goals and defining who is responsible for them is important. Try to create goals that span the major business functions of your company such as product, operations, marketing, HR, and leadership . Set company-wide goals and then break them down by teams and later by individual contributors to ensure that everyone knows what goals they need to accomplish in order to help the business meet its overall yearly goals.

Budgeting and financial considerations

An important aspect of annual planning is financial planning. A good business plan should take financial constraints, budgets, and financial goals into consideration and plan accordingly. If you are a start-up and plan to go through a round of fundraising or have other major changes such as going public with an IPO, include those in your annual planning.

Your annual plan should include financial projections for the year. These projections will help you plan for financing needs, changes in cash flow, and evaluate the best timing for new projects or hiring. You’ll want to create sales forecasts to project your expected income. It’s also wise to forecast your anticipated expenses for things like labor, materials. supplies, and overhead.

You’ll also want to verify that you will be able to allocate the funds needed to accomplish the SMART goals that you created earlier. At this point, you may need to revise some of your goals to ensure that they are achievable within your financial constraints. Those that require a larger budget may need to be scaled down or saved for next year.

Contingency planning

Hopefully everything will go as planned, but it’s always good to have a contingency plan in place in case something goes awry. After all, we’ve all seen how unexpected challenges can derail business operations over the past two years.

Plan for potential emergencies or alternate scenarios. Does your annual business plan rely on covid conditions improving in 2022? Create a contingency plan in case there are more hiccups than expected during reopening or the return to the office.

Consider how your business could best handle supply chain issues, unexpected cash flow problems, and major IT or security concerns. If your headquarters is in an area prone to natural disasters such as wildfires or hurricanes, you should always have a plan in place for the safety of your staff, files, as well as assets that would be difficult to replace.

Putting it all together

There are a number of annual business plan templates available online that you can use to craft your final report. Larger companies often use specialized software for their annual business plan. If you plan to use the goals created during the annual planning process for performance management , a software solution may be best so that department leads and individual employees can track their goals throughout the year.

The report should open with an executive summary, although this is actually the last piece that you’ll typically want to write. The executive summary should act as an introduction to and a summary of the full report. Tailor it to your audience depending on whether the plan will be shared with employees, investors, or others.

A description of the product or services including new products, the team, and the company at present may also be included.

Then comes the meat of the report where you explain the goals you’ve created and your plan for achieving and measuring them. Your full report may be separated into marketing planning, financial planning, HR planning for organizational improvement, and other relevant sub-sections. This is where the zoomed-in SWOT analyses and department-level SMART goals will come in handy.

The report should leave the reader with a clear picture of what you will achieve and how you will do it.

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What is a business plan?

A business plan is a document that helps small business owners determine the viability of their business idea. Combining market research and financial analysis, a professional business plan helps startup CEOs and potential investors determine if the company can compete in the target market.

Typically, a good business plan consists of the following:

• Executive summary
• Company description
• Mission statement
• Product and services
• Marketing plan
• Operations plan
• Management organization
• Financial plan
• Conclusion & appendix

Every section involved in a business plan is designed to help startup businesses reach their target market.

A business plan asks founders and entrepreneurs to detail their business strategy in a step-by-step process that makes sense from an operational perspective. This is essential if a startup is seeking a business loan or an investment from a venture capital firm.

However, even small businesses that are already economically viable can benefit from creating a business plan, since it encourages business owners and their management teams to examine their business model and reevaluate the best ways to reach their target customers.

Should I use a business plan template?

Yes.  If you’ve never written one, a business plan can be challenging to write.

Creating a successful plan that you can use to grow your small business can require weeks of market analysis and financial preparation. You may spend time using Microsoft Excel or Powerpoint in order to create documentation which better supports our operational decisions.

However, almost every professional business plan is structured in the same way and most ask for the same information. Because of this, using a business plan template is advisable to save time, money, and effort.

Business plan templates for free

Rather than spending time trying to figure out how to write a business plan , use a free template as a guide to completion.

Business plan templates from PandaDoc can help you reach an effective go-to-market strategy even faster by asking you to provide all the relevant information you need when creating an effective business plan.

Grab a free template to get started!

Frequently asked questions

How many pages should my business plan be.

This depends on the kind of business plan you need to write and how you intend to use the plan that you create.

For example, a plan for a small business seeking potential investors or a business loan will need to provide income statements, cash flow statements, and a balance sheet (usually for a three-year or five-year forecast period).

These financial statements can be omitted if a small business owner isn’t seeking funding and is instead planning to use their business plan as a guiding document for themselves and their management team members.

Some business plans may only run a few pages. Fully-developed business plans can be as long as 50 pages. Much of this depends on the type of business, the operational strategy, and the level of detail that goes into developing the business plan.

Who needs a business plan?

Every business should have a business plan. This is an essential guidance document for any founder or CEO.

Good business plans help a company determine the viability of its place in the market and can help the business develop better strategies for differentiating itself from its competitors.

Business planning also forces business owners to evaluate their marketing strategy, the cost of customer acquisition and retention, and how they plan to grow their business over time.

What is the best business plan template?

Business plans come in all shapes and sizes. The best business plan template for your business is one that you understand and that matches the size and legal structure of your operation.

If you’re a sole proprietor, a business plan template designed for a big corporation probably doesn’t make sense. However, a business plan that helps you build an effective roadmap to grow your business while protecting your intellectual property is a good starting point.

PandaDoc offers specialized business plan templates for common industries along with tips to help you get started with business planning.

Should I hire someone to write my business plan for me?

No. You’ll find freelance writers and business strategy companies out there who are happy to write your business plan for a fee.  These resources can guide you through the process, but you should write (or be heavily involved in) the creation of your business plan.

The reason for this is simple: You know the most about your business, and your business needs you to succeed.

A writer can work with you to make your business plan sound better to investors, and a consultant can help you fill in knowledge gaps — like how to conduct a SWOT analysis — and point out weaknesses in your plan. But, at the end of the day, you need to use the business plan to pitch investors and run your business.

Those ideas and guiding principles aren’t something you can outsource.

Should I use business planning software?

Software isn’t required when creating an effective business plan. Most business planning software is designed to help you navigate the outlining and writing process more effectively.

You don’t need software to write a professional business plan, but a solid template can help you get started. Download a free template from PandaDoc today and take your business to the next level.

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Simple Business Plan Template (2024)

Updated: May 4, 2024, 4:37pm

Table of Contents

Why business plans are vital, get your free simple business plan template, how to write an effective business plan in 6 steps, frequently asked questions.

While taking many forms and serving many purposes, they all have one thing in common: business plans help you establish your goals and define the means for achieving them. Our simple business plan template covers everything you need to consider when launching a side gig, solo operation or small business. By following this step-by-step process, you might even uncover a few alternate routes to success.

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Whether you’re a first-time solopreneur or a seasoned business owner, the planning process challenges you to examine the costs and tasks involved in bringing a product or service to market. The process can also help you spot new income opportunities and hone in on the most profitable business models.

Though vital, business planning doesn’t have to be a chore. Business plans for lean startups and solopreneurs can simply outline the business concept, sales proposition, target customers and sketch out a plan of action to bring the product or service to market. However, if you’re seeking startup funding or partnership opportunities, you’ll need a write a business plan that details market research, operating costs and revenue forecasting. Whichever startup category you fall into, if you’re at square one, our simple business plan template will point you down the right path.

Copy our free simple business plan template so you can fill in the blanks as we explore each element of your business plan. Need help getting your ideas flowing? You’ll also find several startup scenario examples below.

Download free template as .docx

Whether you need a quick-launch overview or an in-depth plan for investors, any business plan should cover the six key elements outlined in our free template and explained below. The main difference in starting a small business versus an investor-funded business is the market research and operational and financial details needed to support the concept.

1. Your Mission or Vision

Start by declaring a “dream statement” for your business. You can call this your executive summary, vision statement or mission. Whatever the name, the first part of your business plan summarizes your idea by answering five questions. Keep it brief, such as an elevator pitch. You’ll expand these answers in the following sections of the simple business plan template.

• What does your business do? Are you selling products, services, information or a combination?
• Where does this happen? Will you conduct business online, in-store, via mobile means or in a specific location or environment?
• Who does your business benefit? Who is your target market and ideal customer for your concept?
• Why would potential customers care? What would make your ideal customers take notice of your business?
• How do your products and/or services outshine the competition? What would make your ideal customers choose you over a competitor?

These answers come easily if you have a solid concept for your business, but don’t worry if you get stuck. Use the rest of your plan template to brainstorm ideas and tactics. You’ll quickly find these answers and possibly new directions as you explore your ideas and options.

2. Offer and Value Proposition

This is where you detail your offer, such as selling products, providing services or both, and why anyone would care. That’s the value proposition. Specifically, you’ll expand on your answers to the first and fourth bullets from your mission/vision.

As you complete this section, you might find that exploring value propositions uncovers marketable business opportunities that you hadn’t yet considered. So spend some time brainstorming the possibilities in this section.

For example, a cottage baker startup specializing in gluten-free or keto-friendly products might be a value proposition that certain audiences care deeply about. Plus, you could expand on that value proposition by offering wedding and other special-occasion cakes that incorporate gluten-free, keto-friendly and traditional cake elements that all guests can enjoy.

3. Audience and Ideal Customer

Here is where you explore bullet point number three, who your business will benefit. Identifying your ideal customer and exploring a broader audience for your goods or services is essential in defining your sales and marketing strategies, plus it helps fine-tune what you offer.

There are many ways to research potential audiences, but a shortcut is to simply identify a problem that people have that your product or service can solve. If you start from the position of being a problem solver, it’s easy to define your audience and describe the wants and needs of your ideal customer for marketing efforts.

Using the cottage baker startup example, a problem people might have is finding fresh-baked gluten-free or keto-friendly sweets. Examining the wants and needs of these people might reveal a target audience that is health-conscious or possibly dealing with health issues and willing to spend more for hard-to-find items.

However, it’s essential to have a customer base that can support your business. You can be too specialized. For example, our baker startup can attract a broader audience and boost revenue by offering a wider selection of traditional baked goods alongside its gluten-free and keto-focused specialties.

4. Revenue Streams, Sales Channels and Marketing

Thanks to our internet-driven economy, startups have many revenue opportunities and can connect with target audiences through various channels. Revenue streams and sales channels also serve as marketing vehicles, so you can cover all three in this section.

Revenue Streams

Revenue streams are the many ways you can make money in your business. In your plan template, list how you’ll make money upon launch, plus include ideas for future expansion. The income possibilities just might surprise you.

For example, our cottage baker startup might consider these revenue streams:

• Product sales : Online, pop-up shops , wholesale and (future) in-store sales
• Affiliate income : Monetize blog and social media posts with affiliate links
• Advertising income : Reserve website space for advertising
• E-book sales : (future) Publish recipe e-books targeting gluten-free and keto-friendly dessert niches
• Video income : (future) Monetize a YouTube channel featuring how-to videos for the gluten-free and keto-friendly dessert niches
• Webinars and online classes : (future) Monetize coaching-style webinars and online classes covering specialty baking tips and techniques
• Members-only content : (future) Monetize a members-only section of the website for specialty content to complement webinars and online classes
• Franchise : (future) Monetize a specialty cottage bakery concept and sell to franchise entrepreneurs

Sales Channels

Sales channels put your revenue streams into action. This section also answers the “where will this happen” question in the second bullet of your vision.

The product sales channels for our cottage bakery example can include:

• Mobile point-of-sale (POS) : A mobile platform such as Shopify or Square POS for managing in-person sales at local farmers’ markets, fairs and festivals
• E-commerce platform : An online store such as Shopify, Square or WooCommerce for online retail sales and wholesale sales orders
• Social media channels : Facebook, Instagram and Pinterest shoppable posts and pins for online sales via social media channels
• Brick-and-mortar location : For in-store sales , once the business has grown to a point that it can support a physical location

Channels that support other income streams might include:

• Affiliate income : Blog section on the e-commerce website and affiliate partner accounts
• Advertising income : Reserved advertising spaces on the e-commerce website
• E-book sales : Amazon e-book sales via Amazon Kindle Direct Publishing
• Video income : YouTube channel with ad monetization
• Webinars and online classes : Online class and webinar platforms that support member accounts, recordings and playback
• Members-only content : Password-protected website content using membership apps such as MemberPress

Nowadays, the line between marketing and sales channels is blurred. Social media outlets, e-books, websites, blogs and videos serve as both marketing tools and income opportunities. Since most are free and those with advertising options are extremely economical, these are ideal marketing outlets for lean startups.

However, many businesses still find value in traditional advertising such as local radio, television, direct mail, newspapers and magazines. You can include these advertising costs in your simple business plan template to help build a marketing plan and budget.

5. Structure, Suppliers and Operations

This section of your simple business plan template explores how to structure and operate your business. Details include the type of business organization your startup will take, roles and responsibilities, supplier logistics and day-to-day operations. Also, include any certifications or permits needed to launch your enterprise in this section.

Our cottage baker example might use a structure and startup plan such as this:

• Business structure : Sole proprietorship with a “doing business as” (DBA) .
• Permits and certifications : County-issued food handling permit and state cottage food certification for home-based food production. Option, check into certified commercial kitchen rentals.
• Roles and responsibilities : Solopreneur, all roles and responsibilities with the owner.
• Supply chain : Bulk ingredients and food packaging via Sam’s Club, Costco, Amazon Prime with annual membership costs. Uline for shipping supplies; no membership needed.
• Day-to-day operations : Source ingredients and bake three days per week to fulfill local and online orders. Reserve time for specialty sales, wholesale partner orders and market events as needed. Ship online orders on alternating days. Update website and create marketing and affiliate blog posts on non-shipping days.

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6. Financial Forecasts

Your final task is to list forecasted business startup and ongoing costs and profit projections in your simple business plan template. Thanks to free business tools such as Square and free marketing on social media, lean startups can launch with few upfront costs. In many cases, cost of goods, shipping and packaging, business permits and printing for business cards are your only out-of-pocket expenses.

Cost Forecast

Our cottage baker’s forecasted lean startup costs might include:

Gross Profit Projections

This helps you determine the retail prices and sales volume required to keep your business running and, hopefully, earn income for yourself. Use product research to spot target retail prices for your goods, then subtract your cost of goods, such as hourly rate, raw goods and supplier costs. The total amount is your gross profit per item or service.

Here are some examples of projected gross profits for our cottage baker:

Bottom Line

Putting careful thought and detail in a business plan is always beneficial, but don’t get so bogged down in planning that you never hit the start button to launch your business . Also, remember that business plans aren’t set in stone. Markets, audiences and technologies change, and so will your goals and means of achieving them. Think of your business plan as a living document and regularly revisit, expand and restructure it as market opportunities and business growth demand.

Is there a template for a business plan?

You can copy our free business plan template and fill in the blanks or customize it in Google Docs, Microsoft Word or another word processing app. This free business plan template includes the six key elements that any entrepreneur needs to consider when launching a new business.

What does a simple business plan include?

A simple business plan is a one- to two-page overview covering six key elements that any budding entrepreneur needs to consider when launching a startup. These include your vision or mission, product or service offering, target audience, revenue streams and sales channels, structure and operations, and financial forecasts.

How can I create a free business plan template?

Start with our free business plan template that covers the six essential elements of a startup. Once downloaded, you can edit this document in Google Docs or another word processing app and add new sections or subsections to your plan template to meet your specific business plan needs.

What basic items should be included in a business plan?

When writing out a business plan, you want to make sure that you cover everything related to your concept for the business,  an analysis of the industry―including potential customers and an overview of the market for your goods or services―how you plan to execute your vision for the business, how you plan to grow the business if it becomes successful and all financial data around the business, including current cash on hand, potential investors and budget plans for the next few years.

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Krista Fabregas is a seasoned eCommerce and online content pro sharing more than 20 years of hands-on know-how with those looking to launch and grow tech-forward businesses. Her expertise includes eCommerce startups and growth, SMB operations and logistics, website platforms, payment systems, side-gig and affiliate income, and multichannel marketing. Krista holds a bachelor's degree in English from The University of Texas at Austin and held senior positions at NASA, a Fortune 100 company, and several online startups.

Annual planning template

Create an annual plan that reflects the company's broader strategic vision.

Keeping business forward is much easier when the strategic priorities and the company's goals and objectives are structured in a detailed plan that reflects the core values of the company's culture. An annual business plan helps employees gain a clear sense of the company's future and identify opportunities to improve performance or make more informed decisions.

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Introduction to the annual strategic planning process

The annual planning templates serve as a critical tool in shaping an organization's strategy and goals for the upcoming year. It offers a structured framework that guides the planning process, ensuring that all aspects of the annual plan are thoughtfully considered and aligned with the company's vision and objectives. This template provides a clear roadmap, assisting decision-makers in prioritizing initiatives, allocating resources, and setting achievable milestones.

Key Elements of an Effective Annual Plan

Components and structure.

An effective annual plan comprehensively outlines the organization's goals, strategies, and specific actions needed to achieve them. The plan should include financial forecasts, marketing strategies, operational plans, and human resource allocations. The structure of the plan needs to be clear and logical, enabling easy navigation through different sections and facilitating a holistic understanding of the business’s annual objectives.

The Strategic Planning Process: A Step-by-Step Guide

Detailed breakdown for annual planning.

The planning process for creating an annual plan is methodical and requires careful consideration at each step. It starts with a review of the past year's performance, followed by the identification of key goals for the upcoming year. Subsequent steps involve the development of strategies to achieve these goals, determining the resources required, and setting a timeline for implementation.

Aligning Annual Business Objectives

Setting and aligning goals.

Aligning annual business objectives involves ensuring that the specific goals set in the annual plan resonate with the overall mission and vision of the organization. These objectives should be specific, measurable, achievable, relevant, and time-bound (SMART goals). Alignment also means ensuring that different departments and team members understand and commit to these objectives. Setting strategic goals and objectives for a year ahead helps evaluate progress and stick to budget estimations.

Crafting a Comprehensive Business Plan

Developing a thorough yearly plan and long-term strategy.

Comparing the results with past performance is the perfect way to measure growth. Crafting a comprehensive business plan is a multifaceted process that encompasses financial planning, market analysis, competitive strategy, and operational planning. It requires a deep understanding of the business environment, customer needs, and internal capabilities. The plan should be detailed enough to provide a clear vision but flexible enough to adapt to changing circumstances and specific deadlines.

Engaging Team Members in Strategic Plans

Role of team members in company plan.

Team members, besides the leadership team, play a crucial role in the annual planning process. Their insights, expertise, and feedback are invaluable in setting realistic goals and identifying potential challenges. Engaging team members in this process not only ensures a more rounded and practical plan but also fosters a clear understanding of ownership and commitment to the plan’s execution. It also makes the entire workforce united.

Utilizing Annual Planning Templates for Business Success

Benefits of annual business plan formulation.

Annual planning templates are instrumental in formulating a successful business plan. They provide a structured approach to organizing and presenting information, ensuring that all critical aspects of the plan are considered. These templates also save time and reduce the likelihood of overlooking key elements.

Monitoring and Adjusting the Annual Plan

Tracking and refinement techniques.

Monitoring progress, comparing the results with a previous year performance, and adjustments are vital to the success of an annual plan and business goals. This involves regular reviews of progress against set objectives, analyzing variances, and making necessary adjustments. Adjustments might be required due to changes in the business environment, unexpected expenses or challenges, or new opportunities that arise.

Best Practices in Developing a Well-Formulated Annual Plan

Guidelines for creation.

Developing a well-formulated annual plan involves adhering to best practices such as conducting thorough market research, involving stakeholders at all levels, setting realistic and achievable goals, and ensuring flexibility in the plan to accommodate changes. A well-formulated plan is comprehensive, clear, and actionable.

Case Studies: Successful Annual Plans in Action

Examples of implementation.

Case studies of successful annual plan implementations provide valuable insights into the practical application of planning principles. These real-world examples highlight how different organizations have achieved their goals through meticulous planning, execution, and adaptation.

Innovative Approaches to Annual Business Plans

Creative strategies.

Exploring innovative approaches in preparing an annual strategic plan can give organizations a competitive edge. This might involve leveraging new technologies, adopting unconventional marketing strategies, or exploring new business models. Creativity in planning allows businesses to anticipate and capitalize on emerging trends and opportunities.

Incorporating TimeCamp Planner in Your Annual Planning Strategy

Using timecamp planner.

TimeCamp Planner can be a valuable tool in creating and executing an annual plan. Its features, such as time tracking, project management, and productivity analysis, can aid in the detailed planning and monitoring of annual objectives. Integrating this tool into the annual planning strategy can enhance efficiency and provide data-driven insights.

Recap and Importance of a Robust Annual Plan

The creation of a robust annual plan is crucial for the success and growth of any business. It provides direction, fosters alignment, and sets the foundation for achieving business objectives. The use of strategic annual plan templates streamlines this process, ensuring a comprehensive and coherent plan that can guide the organization through the year.

The Role of the Annual Planning Template

The annual planning templates play a vital role in ensuring that the annual plan is well-structured, thorough, and focused. It serves as a blueprint, guiding businesses through the complex process of planning and helping them stay on track towards their goals.

Innovative Approaches to Annual Business Planning

Creative strategies in planning.

Innovation in annual business planning is key to staying ahead in a rapidly changing business environment. This involves exploring new market opportunities, adopting cutting-edge technologies, and rethinking traditional business models. Innovative approaches can lead to groundbreaking strategies that redefine how businesses operate and compete.

Utilizing TimeCamp Planner for Effective Planning

TimeCamp Planner emerges as a powerful tool in the realm of annual planning. Its capabilities in tracking, managing, and analyzing various aspects of business operations make it an invaluable asset. When integrated into the annual planning process, TimeCamp Planner can enhance the precision and effectiveness of the plan, offering real-time insights and data-driven decision-making support.

Emphasizing the Importance of a Comprehensive Strategic Plan

The importance of a comprehensive annual plan in guiding a business toward its objectives cannot be overstated. It acts as a navigational tool, helping businesses to stay focused, align their resources effectively, and respond to changes in the market or operational environment proactively.

Reflecting on the Role of the Annual Planning Template

The annual planning template plays a critical role in the formulation of a successful annual plan. It provides a structured and systematic approach to creating a plan forward, ensuring that all key aspects of the business are considered and aligned with the overarching goals and strategies. The use of a well-designed template can significantly streamline the planning process, making it more efficient and effective.

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Annual Planning Template

Review previous year's plan, identify key goals for the upcoming year, break down goals into measurable objectives.

• 1 Objective 1
• 2 Objective 2
• 3 Objective 3
• 4 Objective 4
• 5 Objective 5

Identify initiatives to achieve objectives

• 1 Initiative 1
• 2 Initiative 2
• 3 Initiative 3
• 4 Initiative 4
• 5 Initiative 5

Set timelines and schedules for initiatives

Assign responsibility for each initiative to team members, determine necessary resources for each initiative, estimate the budget for each initiative, approval: budget estimates.

• Estimate the budget for each initiative Will be submitted

Design a monitoring and evaluation system

Develop a contingency plan for possible risks, prepare a communication plan to share the annual plan.

• 1 Stakeholder 1
• 2 Stakeholder 2
• 3 Stakeholder 3
• 4 Stakeholder 4
• 5 Stakeholder 5
• 2 In-person meetings
• 3 Video conferences
• 4 Newsletters

Finalize the annual plan document

Approval: final plan.

• Finalize the annual plan document Will be submitted

Distribute final plan to all relevant stakeholders

Communicate the plan internally within the organization, implement the monitoring system to track progress, begin executing initiatives according to the schedule, regular update and review meetings for plan adjustment, end of year evaluation and preparation for next year's planning, stay updated—subscribe to our blog, more templates like this.

Powerful business plan templates

Plan for the future, no matter what your business plans are or the size of your business with these designs and templates. whether it's just one big project or an entire organization's worth of dreams, these templates will keep you and your company on track from ideation to completion..

Put your ideas to work with simple templates for every business plan

Every successful business took a lot of planning to get there, and these templates will be cornerstones of your future success. Whether you're looking to attract new business, pitch your services or reimagine your company, with these simple, customizable templates at your fingertips you can turn complexity into something tangible. These templates can become marketing assets or simply remain internal touchpoints for your team. And as your dreams change, you'll always have this template to refer to – it's easy to change what exists on paper. If you're a small business, focusing on your niche can help you dominate in your field, and you can forge a plan to figure out exactly what that niche might be and how to target your ideal customer . When it's time to share your vision with stakeholders, craft a presentation that outlines your plan succinctly and with style. Let these templates from Microsoft Designer be your partner in business strategy for years to come.

Free Annual Business Budget Templates

By Andy Marker | January 6, 2021

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We’ve compiled the most useful free annual business budget templates, including those for established companies, startups, and marketing teams. You’ll also learn more about what goes into creating an annual business budget. 

Included on this page, you'll find an annual business budget template , a first-year budget calculator , an annual startup business budget template , and an annual marketing budget template . Plus, we offer helpful tips for using an annual business budget template .

Annual Business Budget Template

Download Annual Business Budget Template

Excel | Google Sheets

Use this easy-to-fill annual budget template to gain year-over-year insight into your business’s expenditures and revenue. Enter planned employee, office, marketing, training, and travel costs, and use the respective tabs to track actual expenses and calculate your expense variance (the disparity between planned and actual expenses). A unique expense analysis tab provides a dashboard view of your planned vs. actual expenses, variance, and variance percentage. 

If you are looking for budget templates for nonprofits, check out this article for a vast variety of budget templates suitable for any nonprofit organization. 

First-Year Budget Calculator

Download First-Year Budget Calculator

Use this simple first-year budget calculator to determine whether your budding business has adequate resources to meet its financial obligations. Enter operating expenses (e.g., operations, marketing, occupancy, inventory, etc.) and employee salaries to compare startup costs to monthly expenditures. This first-year budget calculator features a section for personal finance details and how they might affect your organization’s overall budget outlook.

Annual Operating Budget Template

Download Annual Operating Budget Template

Use this annual operating budget template to gain year-over-year insight into how your organization’s expenditures relate to revenue. Enter total income, total expenses, and total savings to arrive at your month-by-month net income. Add salary or details, any interest income, refunds and reimbursements, and any other miscellaneous costs to help identify budgeting shortfalls and ensure your business is on sound fiscal footing.

You can find more operating budget templates in this article .

First-Year Startup Budget Calculator

Download First-Year Startup Budget Calculator

This template is ideal for startup companies that want to contrast their funding with expenditures to avoid any financial shortfalls. Use this template to ensure that your first-year budgeting calculations (startup costs, operational expenses, estimated and actual income, and any personal expenses) are as accurate as possible. Save this calculator as a one-off file with customized entries, or share it as a template with team members to standardize budgeting practices. 

Annual Startup Business Budget Template

Download Annual Startup Business Budget Template

Gain a year-over-year perspective of annual revenue vs. expenses with this startup-specific annual business budget template. Enter revenue (sales, commissions, and investments, etc.), expenses (salaries/wages, operations, marketing, etc.) and use the Summary tab’s dashboard-like view to see current budgeted expenses compared to actual revenue. Get a grasp on the bottom line by itemizing each expense and revenue source. Then, use that data to monitor your proximity to profitability.  To find more, please refer to our collection of free startup budget templates  and free small business budget templates . 

Printable Annual Budget Report Template

Download Printable Annual Budget Report Template 

Excel |  Word | PDF

Gain important insights into the overall health of your company’s budget with this print-friendly month-by-month and year-over-year budget report. Enter income (salaries, dividends/interest, etc.) and expenditures to determine your organization’s true annual income. You can share this annual budget report template as a one-off budget report, or use it as a template to fit all annual budget reporting needs.  

Annual Marketing Budget Template

Download Annual Marketing Budget

This annual budget template is designed specifically for marketing organizations — use it to compare estimated marketing campaign costs against actual costs. Enter expenses (national and local marketing, public relations costs, content marketing, social media, advertising, etc.) to get an overview of where you need to reign in costs to meet marketing budget goals. This template, with line-by-line, pre-filled, marketing-specific expenses, takes the guesswork out of accounting for each cost. You can also customize this budget template to meet your needs.

Why You Need an Annual Business Budget Template

An annual business budget template offers a single or year-over-year comparison of expenditures compared to revenue. The pre-filled information in an annual business budget template guides you through the annual budgeting process, so you can leverage pre-set criteria to gain insight into the accuracy of business’s expenses and revenue sources. 

In short, an annual business budget template provides you with visibility into your business’s true financial picture with an easy-to-use, pre-set list of projected and actual expenditures and revenue sources, and any differences between them. An annual business budget template allows you to enter planned salary, office space, marketing, training, and travel costs in order to calculate at your expense variance. 

While annual budget templates are useful for evaluating expenditures vs. revenues annually, you can also assess your budget’s feasibility quarterly or over your first business year. This information can help you create a budget that allows your business to continue operating with a sound financial outlook.

Tips for Using an Annual Business Budget Template

An annual business budget template features detailed, line-by-line lists of pre-set expenses and income. Use a completed budget to project the cost of year-by-year operations compared to available resources in order to justify your operational expenses. 

Use the preset criteria in an annual business budget template to determine the overhead and administrative costs related to your products or services and to make any adjustments. 

To ensure that you account for your business’s expenditures compared to potential — and actual — revenue, an annual business budget template should include the following sections: 

• Employee Costs: This is a line-by-line account of projected and actual labor-related business expenses (e.g., salaries, wages, benefits, insurance, bonuses, etc.).  
• Office Costs: This cost refers to the planned and actual occupancy costs (e.g., lease, electric, water, internet access, office supplies, security, etc.) of your establishment. 
• Marketing Costs: Include any anticipated marketing budget details (e.g., website hosting, collateral production, trade shows, etc.).
• Training/Travel Costs: Enter employees’ training costs (classes, webinars, certifications, etc.) and any related travel expenses. 
• In-House Income: Add the planned and projected revenue sources (e.g., sales, fees, commission, service charges, etc.). 
• Investment Income: This section covers funding from banks (dividends, loans, interest, etc.) and investor contributions. 
• Expense Variance: Determine the difference between projected and actual expenses.  
• Income Variance: Identify the difference between projected and actual expenses.
• Summary: Get the big picture of your business’s budget, as well as the variance between anticipated and actual expenses and income sources, so that you can continue to operate successfully. 

Additionally, be sure to consider one-time costs in your annual business budget. Seasonal costs may also impact your budget, as well as any promotional events on which you plan to spend more on advertising or marketing campaigns to boost sales. These expenses can affect your business’s annual revenue projections.

Better Manage and Track Annual Business Budgets with Smartsheet

Empower your people to go above and beyond with a flexible platform designed to match the needs of your team — and adapt as those needs change. 

The Smartsheet platform makes it easy to plan, capture, manage, and report on work from anywhere, helping your team be more effective and get more done. Report on key metrics and get real-time visibility into work as it happens with roll-up reports, dashboards, and automated workflows built to keep your team connected and informed. 

When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time.  Try Smartsheet for free, today.

Discover why over 90% of Fortune 100 companies trust Smartsheet to get work done.

Annual Business Plan Template

Download this Annual Business Plan Template Design in Word, Google Docs, PDF Format. Easily Editable, Printable, Downloadable.

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Annual Marketing Planning Guide

If you’re here looking for structure and maybe a few gems on how to create an annual marketing plan, then you’re in the right place.

This annual planning guide organizes the process into four phases: 

• Preparing for annual planning 

Creating and optimizing an annual plan

Sharing and presenting your annual plan effectively, planning post-annual next steps.

Here are the 10 most important steps, with checklists to simplify your annual marketing planning.

Preparing for annual planning

This phase largely involves reviewing the past performance of your marketing activities and begins by collecting every piece of data from marketing spend per tactic and customer interactions to revenue per channel and changes in the target market.

The quality of your dataset—and how accurately it reflects the reality of your business—is one of the most important factors in creating a successful marketing plan. It forms the foundation for your projections and future initiatives.

Ideally, don’t wait until the end of your fiscal year before starting next year’s marketing annual plan. From our experience, the most successful marketing teams update their plans on an ongoing basis.

If this is your first year of annual planning , these next steps will make sure that you start off on the right foot. 

1. Gather data with cross-functional teams 

Effective annual marketing planning is built on comprehensive data collection. 

Engaging with cross-functional teams—such as sales, finance, and product development—to learn the story behind your data will enrich your dataset. Work with them to gain a holistic understanding of market dynamics, customer behavior, and internal capabilities.

Assess data accuracy together and identify patterns and anomalies that may impact future performance. 

Goal: To establish a reliable baseline dataset agreed upon across the organization.

2. Analyze the dataset for predictive insights 

Historical data can only provide so much on its own. In order to turn old news into predictive and actionable insight, it’s important to analyze the trends to determine where they are coming from and how your data points are related.

For example, a company’s sales data and consumer purchasing demographics could reveal that peak demand for their sunscreen product varies across demographics over the summer months. By recognizing the demographic differences during peak season, the business could drive more sales by launching targeted advertising campaigns accordingly. 

Understanding the trends in your data, whether seasonal, event-driven, or consumer-specific, can greatly inform future decisions. 

Goal: To make historical data actionable. 

3. Align your plan with business goals

Your marketing strategy should be tightly aligned with the business’s overall objectives, whether they focus on profit, revenue growth, or expanding market share. Start by defining clear marketing objectives that support these strategic goals.

If you aim to increase market share, focus on:

• Brand awareness
• Customer acquisition strategies 

For profit-focused objectives:

• Optimize the marketing mix to reduce costs 
• Consider tactics like upselling and cross-selling to boost average order value

Ultimately, your annual plan should contain marketing initiatives that are tied to attainable business objectives, supported by data. 

Goal: To have marketing efforts strategically aligned with business objectives.

At this phase, you should be ready to start laying out the marketing plan by defining where and when to spend. You should consider the entire sales funnel, deals you already have on hand vs. prospects, new product launches, competitors, and expected changes in the market.

You will begin scenario planning, modeling your data to forecast outcomes, and forming contingency plans for potential deviations.

Here’s an annual planning template to help you ask the right questions and structure your projected spending and revenue values. Combined with the following steps and checklists, you’ll be in good shape to get your team behind a unified vision. 

4. Net Present Value of marketing and budget allocation

The Net Present Value (NPV) metric allows executives and finance to put a monetary value on long-term marketing initiatives. By calculating the NPV and ROI for each channel and tactic, you support your decisions with data for more effective budget advocacy.

The importance of having good metrics to support your budget needs is made evident in Gartner’s 2024 CMO Spend Survey . The report reveals that marketing budgets have continued to decline, indicating that budget growth needs to be earned.

Having a healthy mix of top, middle, and bottom funnel tactics is what leads to the highest ROI. Use this table to help you classify your marketing strategies.

Striking the right balance of spend on top-of-funnel brand awareness vs. transactional tactics will start becoming more evident when comparing the NPV and projected ROI values for different top and bottom funnel ratios. We demonstrate this process in our case study on balancing top and bottom funnel spend , where a 70-30 ratio resulted in the highest ROI for one of our clients. 

Goal: To prioritize marketing investments based on their financial returns.

5. Forecasting and scenario planning

If you’ve reached this stage and established a solid baseline dataset, complete with NPV insights, you’re well-prepared for forecasting and scenario planning . From regression and time-series analysis to marketing mix modeling (MMM) services, this step is where the quality of your data matters most.

It’s not uncommon for marketers to develop forecasts in spreadsheets—a method that is not only time-consuming but also prone to errors. But with software like Keen, you can quickly run more accurate forecasts. Our Bayesian approach can identify the point of diminishing returns for each channel across various scenarios. It also integrates real-time market data to enhance forecasting accuracy, empowering you to optimize budget allocation effectively.

When creating your forecast , consider both seen sales pipelines (e.g., current tracked deals) and unseen pipelines (e.g., prospective leads, emerging market trends). This approach lets you explore various scenarios by adjusting which pipelines to include. 

For each scenario, pay attention to the point of diminishing returns per channel—where additional spending yields decreasing returns—to enhance your budget efficiency. 

Goal: To develop a comprehensive forecast that prepares for multiple scenarios.

6. Adjusting the model

Refine the model with input from functional leaders, accounting for potential investments, market changes, and controllable factors (e.g., pricing, product launches).

This step grounds your marketing plan with your organization’s other initiatives. Your due diligence here can create synergies in execution across departments, aligning your marketing plan with the organization’s overall annual planning process.  

Goal: To fine-tune projections to better reflect your organization’s overarching plans.

Presenting your annual plan clearly to all stakeholders is an often overlooked but critical phase to get organizational buy-in for a cohesive strategy that drives the organization forward. 

Poor communication of the plan leads to misalignment among departments, confusion about priorities, and uncoordinated efforts. This disconnect results in missed revenue opportunities, inefficient investment, and failure to achieve marketing goals. 

Keen bridges this gap, enabling teams to visualize and analyze marketing performance from multiple angles. To create alignment, marketers could output reports and run scenarios to then present to the CFO, sales leaders, and product managers. With our MMM platform , it’s easy to output reports based on the model’s predictions for each scenario. Analytics include interactive channel-specific visualization, making it easier to present and explain channel-specific contributions.

7. Tying marketing efforts to revenue

According to DemandGen’s 2024 Marketing Measurement & Attribution Benchmark survey , 73% of organizations are pushing to show ROI from all marketing investments, a 14% growth from the previous year. 

When presenting the annual marketing plan to stakeholders, clearly demonstrate how each marketing effort contributes to revenue growth with detailed reports and visualizations. If your modeling and scenario planning went well in the previous phase, you will have the data necessary to effectively show the financial impact of your marketing strategy. 

By linking specific initiatives to projected revenue, marketers can build a compelling case for their strategies, facilitating better understanding and support from stakeholders.

Goal: To justify marketing investments and demonstrate their impact on revenue.

8. Communicating the value of each channel

Effectively communicate the unique contributions of each marketing channel to stakeholders. Separating predicted ROI contributions by channel will more effectively communicate budget needs, showcasing exactly how money-in will turn into money-out.

Support your explanations with all of the data modeling and analytics you performed by presenting exactly what they can and can’t tell you. For example, your model may predict a certain channel’s revenue increase at 95% accuracy but have limitations in attributing specific customer behaviors to it.

Goal: To communicate the strategic importance of each channel with stakeholders.

Now that everyone is on board, it’s time to set this plan in motion. You’ll soon realize that annual planning is far from a “set it and forget it” endeavor. The market landscape is always changing with shifts in customer behaviors and new competitors entering.

This is why having the pieces in place to monitor the success of your plan and adjust as needed are important ongoing efforts.

The biggest win is that when you prepare your next annual marketing plan, you will already have this one in motion. If executed correctly, this will become a rolling plan with ongoing optimizations, making future planning more efficient and effective.

9. Implementation and monitoring

Once the annual plan is finalized, begin implementation and prioritize continuous monitoring. Setting up real-time analytics is ideal for tracking campaign performance and making agile adjustments. 

Goal: To maintain flexibility and responsiveness throughout the implementation phase.

10. Continuous optimization

Revisit and refine the marketing plan regularly based on new data and market conditions. Go back to your predictive analytics and adjust the data to reflect:

• Actual spend and ROI per tactic and channel
• Changes in market landscape (e.g., supply and demand)
• Marketing mix adjustments based on customer feedback

Goal: To actively adapt your marketing strategy under changing market conditions.

Create your next annual marketing plan with Keen

When creating an annual marketing plan, you need to be aware of many moving parts, from gathering data to forecasting. Annual planning software like Keen frees up time for your team so they can focus on the most important tasks. 

Keen’s patent pending Marketing Elasticity Engine complements your dataset with a rich foundation of market research built-in to its modeling, giving you prior coefficients and proprietary response curves. The result? Data-driven recommendations on timing and spending per channel, optimizing the overall marketing strategy.

Start a free trial with Keen to get ahead of your annual marketing planning with a well-informed and adaptable marketing strategy.

• annual planning , marketing planning , marketing plans , marketing strategy
• Originally published on October 15, 2024

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The Top 7 Presentation Templates for Strategy & Planning

A strong Q4 sets the tone for the new year. As the last quarter of the calendar year, and a final push to hit business goals, teams are working tirelessly to drive campaigns home and close pending deals while simultaneously planning for Q1. Nailing new strategies, without losing momentum in current initiatives, can be overwhelming. That’s why we created the Beautiful.ai Q4 Kit — a toolkit carefully curated with presentation and slide templates, tips, and features to help teams maximize performance and reach end-of-year goals while looking ahead to opportunities on the horizon. 

We can’t lead your planning and strategy for you, but we can give you the tools you need to streamline all of your team’s efforts in Q4 and beyond. 

Presentation templates help you turn your best ideas into powerful presentations that drive results. We’ve rounded up seven presentation templates that can be customized to fit your business needs as you wrap up this year and plan for the next.  

Annual Budget Review

A budget review presentation is used to review your budget from the previous fiscal year, and keep your finances on track all while scaling your business. Teams can analyze budget allocations from the previous quarter and plan for which departments may require additional resources in the new year with the help of Beautiful.ai’s budget review presentation.  

Optimize your financial planning and strategic budgeting decisions for 2025 with this customizable template.

Q4 Sales Projections

A sales projection is the amount of revenue your business expects to earn in the future, which is an important detail for nailing down an overarching strategy. Also called a sales forecast or a business forecast, a sales projection gives you insight into the short-term and long-term health of the company. These insights help teams plan for growth. 

When you’re working on strategy and planning for the new year, this template helps you predict future sales and performance for upcoming quarters to set better goals.

Quarterly Business Review

Quarterly business reviews are crucial for evaluating progress and steering the ship in the right direction. They are a comprehensive assessment that reflects on a quarter’s performance and involve a lot of metrics, strategy organization, feedback, and operational reflections. A presentation helps teams present all that data in a way that keeps everyone engaged with actionable next steps.

Highlight your team's achievements, challenges, and opportunities for Q4 and beyond with a comprehensive quarterly review.

Holiday Campaign Mood Board

Mood boards are commonly used to convey ideas or source inspiration for a new project or business venture. As you start to plan new campaigns, Beautiful.ai’s mood board presentation template allows you to organize your ideas and keep your inspiration in one concise deck to share with your team or external partners.

You can also use this template to showcase top 2024 designs and plan updates for next year, including creative concepts for holiday campaigns.

Annual Marketing Plan

Creating an effective marketing plan presentation requires attention to detail and a clear view of your future marketing goals. Using a marketing strategy presentation template removes some of the pressure to develop your own slide designs while leaving freedom of creativity directly in your hands.

Get a head start on your Q1 strategy and planning with this detailed annual marketing plan template.

Year-End Review

When the year comes to an end, it’s time to reflect on what worked for your business and what didn’t. A year-end review presentation can help you find solutions for any issues, and implement a strategy for company growth moving forward. Your end of year review presentation is a vital tool for presenting your findings to investors, upper management, or employees during all-hands meetings. 

Reflect on the year's successes and areas for improvement. Use this template to set new goals and outline strategies for the coming year.

2025 Investor Presentation

An investor presentation helps teams outline their strengths and goals in order to generate buzz for their company. A successful investor presentation will get businesses through to the next meeting with investors, ultimately resulting in raising money. The customizable template has everything you need to define your business plan and goals, and communicate that strategy effectively with potential investors. 

If you’re planning for a round of funding in the new year this template helps you organize key data and craft a compelling narrative to close the deal.

Jordan Turner

Jordan is a Bay Area writer, social media manager, and content strategist.

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