Episode 5: How to Create a Simple Business Plan (That Actually Works)

Episode 5 – How to Create a Simple Business Plan (That Actually Works)

In this episode of QuickBooks Mastery for Small Business Success, father-daughter team Erica Northrup and Lee Davisdig into one of the most overlooked foundations of a healthy business: the business plan.

They start with a real story from Lee’s week—a potential client who reached out before jumping in—and contrast that with the many owners who launch with nothing but an LLC, an EIN, and a handful of credit cards. From there, they unpack why a business plan doesn’t need to be a 30-page document full of jargon—but it does need to be clear, simple, and actionable.

Lee shares how his own business started with an SBA-backed loan, a strong credit score, and a well-thought-out plan that covered structure, legal setup, and an operating agreement. Erica brings in her marketing perspective—especially around defining your ideal customer, niching down, and using both online marketing and old-fashioned word of mouth to build a sustainable client base.

Together, they walk through the 5 core sections every simple business plan should have and a 7-step framework you can use to build or refresh your plan—whether you are just starting or expanding an existing business. The episode closes with a 90-day action challenge and a free one-page business plan template to help you get started right away.

Listeners will gain clarity, encouragement, and practical steps they can put into motion immediately, plus a clear link between business planning now and budgeting in next week’s episode.

Key Takeaways

• A business plan isn’t busywork—it’s your roadmap so you lead your business instead of just reacting.
• The best business plans are short, specific, and focused on what you do, who you serve, and how you make money.
• Every business plan should cover 5 core areas: business overview, goals, products/services, marketing, and financials.
• Defining your ideal customer and your niche makes marketing easier and helps you say “no” to the wrong clients.
• Listing your revenue streams and key expenses gives you realistic numbers to bring to the bank—and keeps you out of the 14-credit-card trap.
• Word of mouth plus genuine relationship-building is still one of the most effective low-cost marketing strategies.
• Your business plan is a living document—review it at least annually (or quarterly) and adjust as you grow.
• A clear plan today sets you up for a smarter budget tomorrow, which Erica and Lee will walk through in Episode 6.

Questions to Reflect On

• Do I have a written business plan—or has most of my planning been in my head?
• If I had to explain my business in 2–3 sentences, who I serve, and how I help them, what would I say?
• What are the three biggest “rocks” that would truly move the needle in my business over the next year?
• Do I clearly understand my main revenue streams, pricing, and top 5–6 expenses?
• When was the last time I revisited my business plan or goals and adjusted them based on what’s actually happening?

Mentioned in This Episode

• Free Business Plan Template
• Use this simple, guided template to map out your mission, ideal customer, goals, revenue streams, expenses, and marketing snapshot for the next 12 months.
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