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How to Make a Concept Map: Beginner’s Guide (& Templates)

Written by: Mahnoor Sheikh

Concept maps are incredibly useful tools for learning and explaining new concepts. They help visualize information and organize it in a way that’s easy to understand and remember.

If you’re wondering how to create a concept map for any purpose, this post will help you get started on the right foot.

In this article, we’ll help you understand what a concept map is and how you can create one in 8 easy steps. We’ll also show you concept map examples and templates along the way.

Let’s get into it.

If you’re ready to create your concept map, use our concept map maker to get started for free. It’s quick, easy and works in your browser.

Table of Contents

What is a concept map, the key elements of a concept map.

Step #1: Identify the Focus Question

Step #2: Jot Down the Related Ideas

Step #3: Choose a Concept Mapping Tool

Step #4: Start Drawing Your Concept Map

Step #5: Link the Ideas Together

Step #6: Describe the Relationships

Step #7: Revise Your Concept Map As Needed

Step #8: Customize Your Concept Map Design

Concept Map Best Practices

A concept map is a mind map-like visual diagram, or graphic organizer , that shows relationships between various ideas and concepts.

Since humans process visuals faster than text , concept maps are much more effective than traditional note-taking when it comes to understanding and recalling information.

Concept maps are widely used in education, engineering and even business. They promote clear thinking, better memory retention and improved understanding of complex concepts by helping you:

• Organize thoughts
• Dig into a topic in detail
• Visually show relationships between ideas and concepts
• Show the big picture by connecting thoughts, ideas and concepts

Here’s an example of a simple concept map explaining the solar system and how its different elements are related to each other:

Image Source

This concept map would be useful for teachers trying to explain to their students how the solar system works and what it’s made of.

A concept map consists of several different features. Before you can create a concept map, you need to know the meaning and purpose of each feature.

The graphic below summarizes the various elements that make up a concept map. We’ll discuss each element in more detail below.

• Concepts: Technically called ‘nodes’, concepts are the central elements of your concept map. You can use ovals, boxes, squares or any fancy shapes to denote ideas and concepts.
• Links: Different concepts under one domain are linked together using lines and arrows.
• Cross-Links: Concepts under different domains are linked together using cross-links. These are also usually depicted with lines or arrows.
• Linking Words: Links and cross-links often have text written between or next to them. These words or phrases describe the relationship between the concepts. For example, linking words could be “includes,” “is part of” or “is caused by.”
• Propositions: Also known as semantic units, propositions are meaningful sentences made up of linking words and two or more concepts. A concept map essentially visualizes multiple propositions surrounding a specific topic.
• Hierarchical Structure: A good concept map follows a hierarchical structure that helps to read the diagram from top to bottom. This means that broader and more important concepts are at the top and the most specific ideas are at the bottom.

Now that you know what a concept map is and what it's made of, let’s get to the step-by-step guide to making one.

Step 1: Identify the Focus Question

Choosing a topic for your concept map is more important than you’d think.

If you pick a broad topic or multiple topics, you might end up with a messy concept map with too many shapes and lines. This defeats the purpose of presenting information in an organized way.

You might already have a topic in mind for your concept map, but you need to narrow it down to the core concept — or focus question — to create a diagram that’s easy to understand.

This focus question could be:

• A business problem
• A research question
• A social issue
• A topic from the sixth grade’s biology book

Here’s an example of a concept map that focuses on one main issue: climate change.

Write down your focus question or topic once you’ve finalized it.

In the following steps, you’ll learn how to break down this main concept into related ideas, and then connect those ideas with other concepts and ideas using lines, arrows and text.

Step 2: Jot Down the Related Ideas

Now that you have your focus question ready, it’s time to write down all the related ideas and concepts you’ll be adding to your concept map.

It’s helpful to brainstorm and create a list of ideas before you start designing. This will save time and you’ll have a clear direction of what you want your map to include.

Otherwise, you might end up wasting time thinking while drawing or feel the need to go back and restructure your map over and over again.

Note that you might need to revisit this step at a later stage in case you miss something. But, for now, jot down all the related ideas and concepts.

So, for example, if you’re creating a concept map on energy sources, you can roughly write down the following ideas:

This is also called the parking lot of your concept map — a place where all your ideas are “parked.”

You can create a “parking lot” for your concept map by listing your ideas on paper, drawing a table on your computer or inputting the concepts directly into your diagramming tool.

In the next step, you’ll see how we organize these ideas into a concept map with the help of a diagramming tool.

Step 3: Choose a Concept Mapping Tool

Now, it’s time to pick up your medium of choice and create a concept map diagram using all the ideas and concepts you jotted down in the previous step.

You have two options:

• Draw a concept map on paper or a whiteboard
• Use an online concept mapping tool (e.g. Visme)

While you may have a preference for paper, working with it comes with some ugly downsides: your handwriting might not be accessible to all (even yourself once you revisit the visual representation) and you can’t share it easily with a remote team.

Not to mention, your concept map will see its natural death on a whiteboard as the ink starts to dull (we’re going to pretend like there’s no such thing as someone accidentally erasing the content.)

Using an online concept mapping tool like Visme can help you collaborate with your team on making the diagram in real-time. You can easily save the final visualization by downloading it or getting the embed link to feature it on your website.

Most of all: you’d never be out of space with a diagramming tool, so you can easily work on highly detailed, complex concept maps.

Visme also comes with concept map templates that are fully customizable, which speeds up the process of making a diagram. You can add or remove shapes, animate the concept map, and change the direction of arrows connecting different concepts among other things.

Step 4: Start Drawing Your Concept Map

Regardless of the medium you choose, the first step is to add your key concept.

Remember, it’s best practice to follow a hierarchical structure for your concept map, so make sure you start at the top.

Now, before adding ideas and linking them to your key concept, make sure you have a ‘parking lot’ ready. If you’re using a diagramming tool like Visme, you can create a parking lot of all your ideas on the side of your canvas.

Here’s an example of what that could look like:

If you’re using a pen and paper, or drawing your diagram on a whiteboard, keep the list of all your ideas close by. This will help you add the right idea at the right place.

Step 5: Link the Ideas Together

Now that you have your key concept in place, it’s time to drag and drop ideas from the parking lot onto your concept map and link them together.

Keep in mind the hierarchical structure. Start by adding the broader and more important concepts first and then move on to the more specific ones.

When linking your ideas together, you can use lines or arrows. We recommend using arrows to connect the concepts as they specify direction and make it easier for readers to grasp a proposition.

Once you’ve fleshed out your concept map and its various domains, try to find opportunities to connect concepts between different domains with cross-links.

Step 6: Describe the Relationships

Finally, make sure you add text (or, linking words and phrases) to describe the relationships between the concepts.

Here are some examples of connecting words you can use:

• Can be/cannot be
• Type of/form of
• Such as/for example

The text you add along the connecting lines should be short. Ideally, it should be one word or two words — never a sentence.

This way, you can focus on the relationships among complex ideas while keeping the concept map visualization clutter-free.

You’re almost done with your concept map!

Step 7: Revise Your Concept Map as Needed

Finally, it’s time to carefully scrutinize the concept map you have in front of you and look for opportunities to improve and fine-tune it.

Ask yourself the following questions when examining your diagram:

• Are there any concepts that are too similar to each other?
• Can I group some ideas under a broader concept?
• Can I use a better word to describe this relationship?
• Do any of these ideas fit better under a different domain?

You can also look for opportunities to add more cross-links to your concept map. This might require you to rearrange some of your nodes, but it will help you create a comprehensive concept map without any clutter.

You might even find that you left out some important ideas that you didn’t think of when you were creating your parking lot. This would be a good time to fit those into your diagram.

Step 8: Customize Your Concept Map Design

At this point, your concept map is almost ready.

To finalize it, you might want to customize its design so it matches the rest of your visual brand identity. This is especially relevant for businesses looking to create concept maps to share with their team or for marketing purposes.

For example, you can give your concept map a nice, bold header, like this:

This makes your concept map ready to be used on its own — print it out, embed it in a web page, add it to a document, report or presentation, or share it on social media.

If you’re making your concept map in Visme, you can also:

• Tweak the colors of the shapes and lines
• Change the fonts, text size and styling
• Add a solid, gradient or image background
• Add animated icons and illustrations to your diagram
• Make your concept map interactive with links and hover effects

Another design idea is to add your company logo to your concept map. This is useful for generating brand awareness if your diagram is going to be shared on social media.

Here’s a step-by-step guide to setting up your brand kit in Visme . This allows you to upload and store your brand fonts, colors and logo, and use them in any design project.

Concept Mapping Best Practices

If you stick to the step-by-step guide above, you’ll be able to create a fully functional concept map to use for virtually any purpose.

But if you want to take your concept map from good to great, here are tips and best practices you can follow:

1. Stick to one key concept.

Sure, you can add more than one key concept to your concept map. But would we recommend it? Probably not.

Your key concept is based on your focus question. It’s the first thing you add to your hierarchical concept map, with all the other ideas branching out from this one main concept.

If you add more than one key concept, you might end up with a very complex (and messy) diagram that your audience might have difficulty understanding.

So, try to stick to a single key concept. If you have two or more key concepts you want to visualize, it’s best to just create two separate concept maps for each of them.

2. Group similar concepts together.

If you’re finding that your general concepts are branching out into too many smaller, more specific concepts, try to find similar ideas and group them under a sub-concept.

For example, if you’re making a concept map of planets, you might want to make two main groups of “Inner” and “Outer” planets, and then create sub-groups within these groups.

Grouping similar ideas will not only make your concept map look cleaner and less cluttered, but it will also make it easier for readers to absorb the information and recall it later.

3. Color-code your concept map.

Colors can help distinguish between the different domains in your concept map.

This not only makes it easier to read the diagram, but it also helps readers remember the information for longer by associating each domain with a specific color.

Here’s an example of a color-coded concept map of energy sources:

Notice how renewable sources are color-coded in various shades of green, while non-renewable sources are color-coded in various shades of red.

The concept map above is also a great example of how you can color-code a hierarchical diagram. How? By incorporating different shades of the same color based on an element’s position in the hierarchy.

4. Use images and icons to visualize concepts.

Make your concept map more engaging by adding images or icons in place of text when describing your concepts.

Here’s an example of a concept map that does exactly that:

In the diagram above, the concepts of “coffee beans” and “hot water” are visualized using outline icons.

If you look closely, even the impact of caffeine on mental alertness and sleep is depicted with the help of arrows pointing in different directions.

Adding visuals aids faster learning and better recall as your brain is able to make stronger associations with images as opposed to plain text.

4. Add meaningful linking words.

When adding linking words or phrases to describe the relationships between different concepts, make sure they make sense.

This means when someone reads your concept map, they should be able to form a meaningful sentence out of just the linking words and the two concepts.

For example, take a look at this concept map about Trees:

With the help of the linking words, you can quickly form the following sentences or conclusions:

• Trees give wood, which is used to build houses, furniture and paper.
• Trees give oxygen, which is important to animals, humans and plants.

In some cases, you might not need to use any words at all to help readers make a complete sentence. You can also use symbols like + or - to indicate addition or subtraction of ideas.

5. Make your concept map interactive.

If you’re planning on sharing your concept map online, you can make it interactive and turn it into an engaging experience for the readers.

For example, you can make a node pop out, spin into place or add any of the variety of animations that Visme offers.

You can also add links to your concept maps. So, for example, clicking on a node labeled as “Rising Sea Levels” in a Climate Change concept map might take the reader to an external web page that discusses rising sea levels in more detail.

You can also add additional resources and further reading at the bottom of your concept map. Or, link to various online sources you used to extract the information for your diagram.

Ready to Make a Concept Map?

Creating a concept map is not as difficult as you may think. All you need are the right tools, some research, and a solid purpose in mind.

Follow the systematic approach illustrated in the steps above to easily make a concept map from scratch or with the help of pre-designed concept map templates .

If you’re ready to create your own concept map, try Visme’s concept map maker to get started for free. It’s quick, easy and comes with drag-and-drop diagramming and design tools.

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About the Author

Mahnoor Sheikh is the content marketing manager at Visme. She has years of experience in content strategy and execution, SEO copywriting and graphic design. She is also the founder of MASH Content and is passionate about tea, kittens and traveling with her husband. Get in touch with her on LinkedIn .

How to Write a Business Plan: Step-by-Step Guide + Examples

Noah Parsons

24 min. read

Updated July 29, 2024

Writing a business plan doesn’t have to be complicated. 

In this step-by-step guide, you’ll learn how to write a business plan that’s detailed enough to impress bankers and potential investors, while giving you the tools to start, run, and grow a successful business.

• The basics of business planning

If you’re reading this guide, then you already know why you need a business plan . 

You understand that planning helps you: 

• Raise money
• Grow strategically
• Keep your business on the right track 

As you start to write your plan, it’s useful to zoom out and remember what a business plan is .

At its core, a business plan is an overview of the products and services you sell, and the customers that you sell to. It explains your business strategy: how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

Most business plans also include financial forecasts for the future. These set sales goals, budget for expenses, and predict profits and cash flow. 

A good business plan is much more than just a document that you write once and forget about. It’s also a guide that helps you outline and achieve your goals. 

After completing your plan, you can use it as a management tool to track your progress toward your goals. Updating and adjusting your forecasts and budgets as you go is one of the most important steps you can take to run a healthier, smarter business. 

We’ll dive into how to use your plan later in this article.

There are many different types of plans , but we’ll go over the most common type here, which includes everything you need for an investor-ready plan. However, if you’re just starting out and are looking for something simpler—I recommend starting with a one-page business plan . It’s faster and easier to create. 

It’s also the perfect place to start if you’re just figuring out your idea, or need a simple strategic plan to use inside your business.

Dig deeper : How to write a one-page business plan

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• What to include in your business plan

Executive summary

The executive summary is an overview of your business and your plans. It comes first in your plan and is ideally just one to two pages. Most people write it last because it’s a summary of the complete business plan.

Ideally, the executive summary can act as a stand-alone document that covers the highlights of your detailed plan. 

In fact, it’s common for investors to ask only for the executive summary when evaluating your business. If they like what they see in the executive summary, they’ll often follow up with a request for a complete plan, a pitch presentation , or more in-depth financial forecasts .

Your executive summary should include:

• A summary of the problem you are solving
• A description of your product or service
• An overview of your target market
• A brief description of your team
• A summary of your financials
• Your funding requirements (if you are raising money)

Dig Deeper: How to write an effective executive summary

Products and services description

This is where you describe exactly what you’re selling, and how it solves a problem for your target market. The best way to organize this part of your plan is to start by describing the problem that exists for your customers. After that, you can describe how you plan to solve that problem with your product or service. 

This is usually called a problem and solution statement .

To truly showcase the value of your products and services, you need to craft a compelling narrative around your offerings. How will your product or service transform your customers’ lives or jobs? A strong narrative will draw in your readers.

This is also the part of the business plan to discuss any competitive advantages you may have, like specific intellectual property or patents that protect your product. If you have any initial sales, contracts, or other evidence that your product or service is likely to sell, include that information as well. It will show that your idea has traction , which can help convince readers that your plan has a high chance of success.

Market analysis

Your target market is a description of the type of people that you plan to sell to. You might even have multiple target markets, depending on your business. 

A market analysis is the part of your plan where you bring together all of the information you know about your target market. Basically, it’s a thorough description of who your customers are and why they need what you’re selling. You’ll also include information about the growth of your market and your industry .

Try to be as specific as possible when you describe your market. 

Include information such as age, income level, and location—these are what’s called “demographics.” If you can, also describe your market’s interests and habits as they relate to your business—these are “psychographics.” 

Related: Target market examples

Essentially, you want to include any knowledge you have about your customers that is relevant to how your product or service is right for them. With a solid target market, it will be easier to create a sales and marketing plan that will reach your customers. That’s because you know who they are, what they like to do, and the best ways to reach them.

Next, provide any additional information you have about your market. 

What is the size of your market ? Is the market growing or shrinking? Ideally, you’ll want to demonstrate that your market is growing over time, and also explain how your business is positioned to take advantage of any expected changes in your industry.

Dig Deeper: Learn how to write a market analysis

Competitive analysis

Part of defining your business opportunity is determining what your competitive advantage is. To do this effectively, you need to know as much about your competitors as your target customers. 

Every business has some form of competition. If you don’t think you have competitors, then explore what alternatives there are in the market for your product or service. 

For example: In the early years of cars, their main competition was horses. For social media, the early competition was reading books, watching TV, and talking on the phone.

A good competitive analysis fully lays out the competitive landscape and then explains how your business is different. Maybe your products are better made, or cheaper, or your customer service is superior. Maybe your competitive advantage is your location – a wide variety of factors can ultimately give you an advantage.

Dig Deeper: How to write a competitive analysis for your business plan

Marketing and sales plan

The marketing and sales plan covers how you will position your product or service in the market, the marketing channels and messaging you will use, and your sales tactics. 

The best place to start with a marketing plan is with a positioning statement . 

This explains how your business fits into the overall market, and how you will explain the advantages of your product or service to customers. You’ll use the information from your competitive analysis to help you with your positioning. 

For example: You might position your company as the premium, most expensive but the highest quality option in the market. Or your positioning might focus on being locally owned and that shoppers support the local economy by buying your products.

Once you understand your positioning, you’ll bring this together with the information about your target market to create your marketing strategy . 

This is how you plan to communicate your message to potential customers. Depending on who your customers are and how they purchase products like yours, you might use many different strategies, from social media advertising to creating a podcast. Your marketing plan is all about how your customers discover who you are and why they should consider your products and services. 

While your marketing plan is about reaching your customers—your sales plan will describe the actual sales process once a customer has decided that they’re interested in what you have to offer. 

If your business requires salespeople and a long sales process, describe that in this section. If your customers can “self-serve” and just make purchases quickly on your website, describe that process. 

A good sales plan picks up where your marketing plan leaves off. The marketing plan brings customers in the door and the sales plan is how you close the deal.

Together, these specific plans paint a picture of how you will connect with your target audience, and how you will turn them into paying customers.

Dig deeper: What to include in your sales and marketing plan

Business operations

The operations section describes the necessary requirements for your business to run smoothly. It’s where you talk about how your business works and what day-to-day operations look like. 

Depending on how your business is structured, your operations plan may include elements of the business like:

• Supply chain management
• Manufacturing processes
• Equipment and technology
• Distribution

Some businesses distribute their products and reach their customers through large retailers like Amazon.com, Walmart, Target, and grocery store chains. 

These businesses should review how this part of their business works. The plan should discuss the logistics and costs of getting products onto store shelves and any potential hurdles the business may have to overcome.

If your business is much simpler than this, that’s OK. This section of your business plan can be either extremely short or more detailed, depending on the type of business you are building.

For businesses selling services, such as physical therapy or online software, you can use this section to describe the technology you’ll leverage, what goes into your service, and who you will partner with to deliver your services.

Dig Deeper: Learn how to write the operations chapter of your plan

Key milestones and metrics

Although it’s not required to complete your business plan, mapping out key business milestones and the metrics can be incredibly useful for measuring your success.

Good milestones clearly lay out the parameters of the task and set expectations for their execution. You’ll want to include:

• A description of each task
• The proposed due date
• Who is responsible for each task

If you have a budget, you can include projected costs to hit each milestone. You don’t need extensive project planning in this section—just list key milestones you want to hit and when you plan to hit them. This is your overall business roadmap. 

Possible milestones might be:

• Website launch date
• Store or office opening date
• First significant sales
• Break even date
• Business licenses and approvals

You should also discuss the key numbers you will track to determine your success. Some common metrics worth tracking include:

• Conversion rates
• Customer acquisition costs
• Profit per customer
• Repeat purchases

It’s perfectly fine to start with just a few metrics and grow the number you are tracking over time. You also may find that some metrics simply aren’t relevant to your business and can narrow down what you’re tracking.

Dig Deeper: How to use milestones in your business plan

Organization and management team

Investors don’t just look for great ideas—they want to find great teams. Use this chapter to describe your current team and who you need to hire . You should also provide a quick overview of your location and history if you’re already up and running.

Briefly highlight the relevant experiences of each key team member in the company. It’s important to make the case for why yours is the right team to turn an idea into a reality. 

Do they have the right industry experience and background? Have members of the team had entrepreneurial successes before? 

If you still need to hire key team members, that’s OK. Just note those gaps in this section.

Your company overview should also include a summary of your company’s current business structure . The most common business structures include:

• Sole proprietor
• Partnership

Be sure to provide an overview of how the business is owned as well. Does each business partner own an equal portion of the business? How is ownership divided? 

Potential lenders and investors will want to know the structure of the business before they will consider a loan or investment.

Dig Deeper: How to write about your company structure and team

Financial plan

Last, but certainly not least, is your financial plan chapter. 

Entrepreneurs often find this section the most daunting. But, business financials for most startups are less complicated than you think, and a business degree is certainly not required to build a solid financial forecast. 

A typical financial forecast in a business plan includes the following:

• Sales forecast : An estimate of the sales expected over a given period. You’ll break down your forecast into the key revenue streams that you expect to have.
• Expense budget : Your planned spending such as personnel costs , marketing expenses, and taxes.
• Profit & Loss : Brings together your sales and expenses and helps you calculate planned profits.
• Cash Flow : Shows how cash moves into and out of your business. It can predict how much cash you’ll have on hand at any given point in the future.
• Balance Sheet : A list of the assets, liabilities, and equity in your company. In short, it provides an overview of the financial health of your business. 

A strong business plan will include a description of assumptions about the future, and potential risks that could impact the financial plan. Including those will be especially important if you’re writing a business plan to pursue a loan or other investment.

Dig Deeper: How to create financial forecasts and budgets

This is the place for additional data, charts, or other information that supports your plan.

Including an appendix can significantly enhance the credibility of your plan by showing readers that you’ve thoroughly considered the details of your business idea, and are backing your ideas up with solid data.

Just remember that the information in the appendix is meant to be supplementary. Your business plan should stand on its own, even if the reader skips this section.

Dig Deeper : What to include in your business plan appendix

Optional: Business plan cover page

Adding a business plan cover page can make your plan, and by extension your business, seem more professional in the eyes of potential investors, lenders, and partners. It serves as the introduction to your document and provides necessary contact information for stakeholders to reference.

Your cover page should be simple and include:

• Company logo
• Business name
• Value proposition (optional)
• Business plan title
• Completion and/or update date
• Address and contact information
• Confidentiality statement

Just remember, the cover page is optional. If you decide to include it, keep it very simple and only spend a short amount of time putting it together.

Dig Deeper: How to create a business plan cover page

How to use AI to help write your business plan

Generative AI tools such as ChatGPT can speed up the business plan writing process and help you think through concepts like market segmentation and competition. These tools are especially useful for taking ideas that you provide and converting them into polished text for your business plan.

The best way to use AI for your business plan is to leverage it as a collaborator , not a replacement for human creative thinking and ingenuity. 

AI can come up with lots of ideas and act as a brainstorming partner. It’s up to you to filter through those ideas and figure out which ones are realistic enough to resonate with your customers. 

There are pros and cons of using AI to help with your business plan . So, spend some time understanding how it can be most helpful before just outsourcing the job to AI.

Learn more: 10 AI prompts you need to write a business plan

• Writing tips and strategies

To help streamline the business plan writing process, here are a few tips and key questions to answer to make sure you get the most out of your plan and avoid common mistakes .  

Determine why you are writing a business plan

Knowing why you are writing a business plan will determine your approach to your planning project. 

For example: If you are writing a business plan for yourself, or just to use inside your own business , you can probably skip the section about your team and organizational structure. 

If you’re raising money, you’ll want to spend more time explaining why you’re looking to raise the funds and exactly how you will use them.

Regardless of how you intend to use your business plan , think about why you are writing and what you’re trying to get out of the process before you begin.

Keep things concise

Probably the most important tip is to keep your business plan short and simple. There are no prizes for long business plans . The longer your plan is, the less likely people are to read it. 

So focus on trimming things down to the essentials your readers need to know. Skip the extended, wordy descriptions and instead focus on creating a plan that is easy to read —using bullets and short sentences whenever possible.

Have someone review your business plan

Writing a business plan in a vacuum is never a good idea. Sometimes it’s helpful to zoom out and check if your plan makes sense to someone else. You also want to make sure that it’s easy to read and understand.

Don’t wait until your plan is “done” to get a second look. Start sharing your plan early, and find out from readers what questions your plan leaves unanswered. This early review cycle will help you spot shortcomings in your plan and address them quickly, rather than finding out about them right before you present your plan to a lender or investor.

If you need a more detailed review, you may want to explore hiring a professional plan writer to thoroughly examine it.

Use a free business plan template and business plan examples to get started

Knowing what information to include in a business plan is sometimes not quite enough. If you’re struggling to get started or need additional guidance, it may be worth using a business plan template. 

There are plenty of great options available (we’ve rounded up our 8 favorites to streamline your search).

But, if you’re looking for a free downloadable business plan template , you can get one right now; download the template used by more than 1 million businesses. 

Or, if you just want to see what a completed business plan looks like, check out our library of over 550 free business plan examples . 

We even have a growing list of industry business planning guides with tips for what to focus on depending on your business type.

Common pitfalls and how to avoid them

It’s easy to make mistakes when you’re writing your business plan. Some entrepreneurs get sucked into the writing and research process, and don’t focus enough on actually getting their business started. 

Here are a few common mistakes and how to avoid them:

Not talking to your customers : This is one of the most common mistakes. It’s easy to assume that your product or service is something that people want. Before you invest too much in your business and too much in the planning process, make sure you talk to your prospective customers and have a good understanding of their needs.

• Overly optimistic sales and profit forecasts: By nature, entrepreneurs are optimistic about the future. But it’s good to temper that optimism a little when you’re planning, and make sure your forecasts are grounded in reality. 
• Spending too much time planning: Yes, planning is crucial. But you also need to get out and talk to customers, build prototypes of your product and figure out if there’s a market for your idea. Make sure to balance planning with building.
• Not revising the plan: Planning is useful, but nothing ever goes exactly as planned. As you learn more about what’s working and what’s not—revise your plan, your budgets, and your revenue forecast. Doing so will provide a more realistic picture of where your business is going, and what your financial needs will be moving forward.
• Not using the plan to manage your business: A good business plan is a management tool. Don’t just write it and put it on the shelf to collect dust – use it to track your progress and help you reach your goals.
• Presenting your business plan

The planning process forces you to think through every aspect of your business and answer questions that you may not have thought of. That’s the real benefit of writing a business plan – the knowledge you gain about your business that you may not have been able to discover otherwise.

With all of this knowledge, you’re well prepared to convert your business plan into a pitch presentation to present your ideas. 

A pitch presentation is a summary of your plan, just hitting the highlights and key points. It’s the best way to present your business plan to investors and team members.

Dig Deeper: Learn what key slides should be included in your pitch deck

Use your business plan to manage your business

One of the biggest benefits of planning is that it gives you a tool to manage your business better. With a revenue forecast, expense budget, and projected cash flow, you know your targets and where you are headed.

And yet, nothing ever goes exactly as planned – it’s the nature of business.

That’s where using your plan as a management tool comes in. The key to leveraging it for your business is to review it periodically and compare your forecasts and projections to your actual results.

Start by setting up a regular time to review the plan – a monthly review is a good starting point. During this review, answer questions like:

• Did you meet your sales goals?
• Is spending following your budget?
• Has anything gone differently than what you expected?

Now that you see whether you’re meeting your goals or are off track, you can make adjustments and set new targets. 

Maybe you’re exceeding your sales goals and should set new, more aggressive goals. In that case, maybe you should also explore more spending or hiring more employees. 

Or maybe expenses are rising faster than you projected. If that’s the case, you would need to look at where you can cut costs.

A plan, and a method for comparing your plan to your actual results , is the tool you need to steer your business toward success.

Learn More: How to run a regular plan review

How to write a business plan FAQ

What is a business plan?

A document that describes your business , the products and services you sell, and the customers that you sell to. It explains your business strategy, how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

What are the benefits of a business plan?

A business plan helps you understand where you want to go with your business and what it will take to get there. It reduces your overall risk, helps you uncover your business’s potential, attracts investors, and identifies areas for growth.

Having a business plan ultimately makes you more confident as a business owner and more likely to succeed for a longer period of time.

What are the 7 steps of a business plan?

The seven steps to writing a business plan include:

• Write a brief executive summary
• Describe your products and services.
• Conduct market research and compile data into a cohesive market analysis.
• Describe your marketing and sales strategy.
• Outline your organizational structure and management team.
• Develop financial projections for sales, revenue, and cash flow.
• Add any additional documents to your appendix.

What are the 5 most common business plan mistakes?

There are plenty of mistakes that can be made when writing a business plan. However, these are the 5 most common that you should do your best to avoid:

• 1. Not taking the planning process seriously.
• Having unrealistic financial projections or incomplete financial information.
• Inconsistent information or simple mistakes.
• Failing to establish a sound business model.
• Not having a defined purpose for your business plan.

What questions should be answered in a business plan?

Writing a business plan is all about asking yourself questions about your business and being able to answer them through the planning process. You’ll likely be asking dozens and dozens of questions for each section of your plan.

However, these are the key questions you should ask and answer with your business plan:

• How will your business make money?
• Is there a need for your product or service?
• Who are your customers?
• How are you different from the competition?
• How will you reach your customers?
• How will you measure success?

How long should a business plan be?

The length of your business plan fully depends on what you intend to do with it. From the SBA and traditional lender point of view, a business plan needs to be whatever length necessary to fully explain your business. This means that you prove the viability of your business, show that you understand the market, and have a detailed strategy in place.

If you intend to use your business plan for internal management purposes, you don’t necessarily need a full 25-50 page business plan. Instead, you can start with a one-page plan to get all of the necessary information in place.

What are the different types of business plans?

While all business plans cover similar categories, the style and function fully depend on how you intend to use your plan. Here are a few common business plan types worth considering.

Traditional business plan: The tried-and-true traditional business plan is a formal document meant to be used when applying for funding or pitching to investors. This type of business plan follows the outline above and can be anywhere from 10-50 pages depending on the amount of detail included, the complexity of your business, and what you include in your appendix.

Business model canvas: The business model canvas is a one-page template designed to demystify the business planning process. It removes the need for a traditional, copy-heavy business plan, in favor of a single-page outline that can help you and outside parties better explore your business idea.

One-page business plan: This format is a simplified version of the traditional plan that focuses on the core aspects of your business. You’ll typically stick with bullet points and single sentences. It’s most useful for those exploring ideas, needing to validate their business model, or who need an internal plan to help them run and manage their business.

Lean Plan: The Lean Plan is less of a specific document type and more of a methodology. It takes the simplicity and styling of the one-page business plan and turns it into a process for you to continuously plan, test, review, refine, and take action based on performance. It’s faster, keeps your plan concise, and ensures that your plan is always up-to-date.

What’s the difference between a business plan and a strategic plan?

A business plan covers the “who” and “what” of your business. It explains what your business is doing right now and how it functions. The strategic plan explores long-term goals and explains “how” the business will get there. It encourages you to look more intently toward the future and how you will achieve your vision.

However, when approached correctly, your business plan can actually function as a strategic plan as well. If kept lean, you can define your business, outline strategic steps, and track ongoing operations all with a single plan.

Noah is the COO at Palo Alto Software, makers of the online business plan app LivePlan. He started his career at Yahoo! and then helped start the user review site Epinions.com. From there he started a software distribution business in the UK before coming to Palo Alto Software to run the marketing and product teams.

Table of Contents

• Use AI to help write your plan
• Common planning mistakes
• Manage with your business plan

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• The Workstream
• Project management
• Concept mapping

What is a concept map and how do you make one

Browse topics.

Concept maps are visual tools for organizing and representing knowledge and ideas in a graphical format. They consist of concepts (or nodes) with connected lines to illustrate their relationships and hierarchy. Concept maps are useful for organizing information, solving problems, and making decisions. They also help with information sharing and collaboration by allowing contributors to convey ideas in an easily understandable format. This format provides a deeper understanding of complex topics. This guide will discuss concept maps, their key features, and how to use one to benefit your team's decision-making process .

What is a concept map?

A concept map is a visual representation that illustrates the relationships between different concepts, ideas, or information. Concept maps typically portray ideas as boxes or circles, known as nodes, and organize them hierarchically with interconnected lines or arrows, known as arcs. These lines have annotated words and phrases that describe the relationships to help understand how concepts connect.

Concept map key features

While concept maps share similarities with other visual tools, they possess distinct features that set them apart. These characteristics contribute to their effectiveness in organizing information and visually representing relationships within a particular knowledge domain.  Below are the essential components of a concept map and how they work together.

Concepts are the fundamental thoughts, ideas, or topics within the concept map. They serve as the building blocks for organizing information. For example, if a concept map represents a business plan, it could include concepts such as marketing strategies, financial planning, supply chain management, and other key components of the business strategy.

Linking words or phrases

Linking words or phrases describe the relationship between connected concepts. They allow the viewer to understand the flow of information and how the nodes interconnect. Examples of linking words or phrases are “is a part of,” “leads to,” “requires,” “is dependent on,” etc.

Propositional structure

Propositions are statements that combine two or more concepts using linking words. Also known as semantic units or units of meaning, they form the basis for generating new knowledge within a specific domain. Visually depicting interconnected propositions contributes to a greater understanding of the subject matter. In a business plan example, a propositional structure to connect two concepts could look like “marketing strategies increase brand awareness.”

Hierarchical structure

The hierarchical structure positions the most general and inclusive concepts at the top and arranges more specific concepts underneath.

Reading the concept map from top to bottom provides an understanding of concepts from broader categories to more detailed and specific ones.

In a business plan example, the overall business strategy would be at the top level, followed by sub-levels such as marketing strategy, finance, and human resources.

Parking lot

The parking lot is an area for unrelated ideas. It’s a ranked list, starting with the most general concepts and moving to the most specific. It serves as a holding space for ideas until you can determine their appropriate places in the concept map.

Cross-links

Cross-links represent connections between concepts in distinct areas of the map. They enable the visualization of relationships between ideas from diverse domains.

For example, in a concept map for a business plan, you may cross-link market research (part of marketing strategy) and financial forecasting (under financial planning), as insights gained from market research can inform your forecasting and budgeting decisions.

Types of concept maps

The implementation and arrangement of concept maps can vary. Here are four primary types of concept maps:

• Spider maps : Also known as spider diagrams, these concept maps resemble a spider web. The central concept is in the center, and the related topics branch out. This type is most effective when delving into different aspects of a central concept.
• Flowcharts : A flowchart is a visual depiction of a process or workflow. Its linear structure guides readers through the information step-by-step. (See also: how to make a flowchart ).
• System maps : Rather than connecting all ideas to a central concept, a system map concentrates on the relationships between ideas without a clearly defined hierarchical structure.
• Hierarchy maps : Hierarchy maps illustrate rank or position. The primary idea or the concept with the highest rank sits at the top while lower-ranking ideas flow underneath in a structured manner.

How to make a concept map

To create a concept map, follow these steps:

• Identify your primary topic. Ensure that your topic is broad enough to allow for subtopics. You should position this central concept at the top or center of your map, forming the basis of the hierarchical structure.
• Identify the essential concepts relating to the central topic. Place these concepts in the parking lot—a temporary space to store ideas—and arrange them from most broad to most specific.
• Move the key concepts from the parking lot to the concept map, prioritizing the broadest ideas that directly relate to the main topic. Establish the connections between concepts with linking words.
• Double-check the map for accuracy, ensuring the relationships are clear and linking words are coherent. Use cross-links to connect concepts across different sections of the map.
• Expand and revise the map as you generate more ideas.

How to use a concept map

Concept maps have practical applications and offer various benefits in different industries. They help visualize the relationships between various concepts, providing a deeper understanding of complex subjects.  Concept maps help individuals retain and understand concepts and their relationships by organizing and illustrating connections between ideas. While concept maps are popular in academia, their adaptability makes them a valuable tool in many fields. Using a concept map:

• Enhances understanding of complex topics
• Organizes information
• Facilitates critical thinking
• Improves team collaboration and communication
• Provides flexibility for generating new ideas and evolving existing ones

Content map examples

Businesses can use concept maps in various ways to enhance communication, decision-making , and knowledge sharing . Here are some ways businesses can apply concept maps:

• Product development : Teams can use concept maps to organize and visualize ideas, features, and requirements in a brainstorming session .
• Project management : By organizing tasks, mapping dependencies, and displaying the project timeline , teams can better visualize the project life cycle .
• Sales funnel : Sales teams can use a concept map to visualize and optimize the sales funnel, mapping the customer journey from lead generation to conversion.

Use Confluence whiteboards for concept mapping

Concept maps are versatile and valuable tools that contribute to enhanced understanding, effective communication, and collaborative problem-solving.

For collaborative concept mapping, use Confluence whiteboards . Confluence whiteboards are an essential tool for any collaborative culture , enabling teams to create and work together freely on an infinite canvas. They bring flexibility to projects, supporting teams as they move from idea to execution.

Confluence whiteboards bridge the gap between where teams think and where teams do. Brainstorming with Confluence whiteboards helps teams organize their work visually and turn ideas into reality, all within a single source of truth.

Try Confluence whiteboards

Content mapping: Frequently asked questions

What is the difference between mind mapping and concept mapping.

While mind mapping and concept mapping are visual techniques for organizing and representing information, they have a few key differences. Mind maps organize thoughts for brainstorming and problem-solving, while concept maps organize thoughts to emphasize the connections between ideas. A mind map tends to be more free-flowing and lacks a hierarchy, while a concept map has a structured layout that represents relationships and hierarchy.

What is the best tool for concept mapping?

The best concept mapping tool depends on your collaboration requirements and ease of use. To bring your work together in a single source of truth, easily provide access to all contributors, and turn your ideas into reality, try Confluence whiteboards.

Can I collaborate on a concept map?

Yes, collaboration is possible on a concept map. A concept map is a productive tool for gathering insights from multiple contributors, especially when using a dedicated platform that supports collaborative editing such as Confluence whiteboards.

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How to Make a Concept Map

• Post author By Jessica Wu
• Post date July 3, 2024

Concept mapping is an invaluable tool for structured thinking and visual organization. Whether you’re a student, educator, business professional, or anyone in between, understanding how to make a concept map can significantly enhance your problem-solving skills [Link to pillar post] and strategies. Here we’ll dive into the intricacies of creating a concept map, with a particular focus on utilizing Frameable Whiteboard, an online whiteboard tool offering a variety of professionally designed templates to make the process seamless and efficient.

Understanding Concept Maps

Before diving into the creation process, let’s define a concept map . A concept map is a graphical tool for organizing and representing knowledge. It includes concepts, usually enclosed in circles or boxes, and relationships between these concepts are indicated by a connecting line linking two concepts. Words on the line, referred to as linking words or phrases, specify the relationship between the two concepts.

Concept maps are rooted in the theory of meaningful learning developed by David Ausubel, which emphasizes the importance of prior knowledge in learning new information. By visually organizing and structuring this knowledge, concept maps facilitate deeper understanding and knowledge retention.

Benefits of Using Concept Maps

Enhanced problem-solving .

Concept maps are powerful tools for problem-solving. They allow you to break down complex problems into smaller, manageable parts, visually outline the relationships between different components, and identify potential solutions. This structured visual thinking aids in a systematic approach to problem-solving.

Effective problem-solving strategies

By visually organizing information, concept maps help in developing effective problem-solving strategies. You can clearly see the connections and relationships between different elements, which can lead to innovative solutions and strategies that might not be immediately apparent through linear thinking.

Improved structured thinking

Concept maps promote structured thinking by forcing you to organize your thoughts logically and hierarchically. This structured approach is beneficial in various scenarios, from academic research to business planning, as it helps in creating a clear and concise representation of complex information.

Steps to Create a Concept Map

1. identify the main idea.

The first step in creating a concept map is to identify the main idea. This is the central question or problem you want to address with your concept map. The focus question helps to maintain the scope and relevance of your concept map.

2. List relevant concepts

Once you have your focus question, list all relevant concepts (related categories) that relate to this question. These concepts will form the nodes of your concept map. Think broadly and inclusively at this stage to ensure you capture all pertinent information.

3. Organize concepts hierarchically

Organize the listed concepts hierarchically, starting with the most general and inclusive concepts at the top and moving to more specific and detailed concepts at the bottom. This hierarchical structure helps in understanding the relative importance and relationships between concepts.

4. Connect concepts with supporting ideas and factors

Connect the concepts using lines and supporting ideas and factors. Supporting ideas and factors describe the relationship between the connected concepts. This step is crucial as it transforms a simple list of concepts into a meaningful and structured representation of knowledge.

5. Review and refine

Review and refine your concept map. Check for clarity, coherence, and completeness. Make sure that all important relationships are represented and that the linking words accurately describe these relationships.

How to Make a Concept Map Online

Creating a concept map online can be significantly easier and more efficient than doing it on paper. Online tools offer various features that facilitate the creation, sharing, and editing of concept maps, no matter your location. One of the top online whiteboards is Frameable Whiteboard.

What is an Online Whiteboard?

An online whiteboard is a digital platform that allows users to create, share, and collaborate on visual content in real-time. It offers a flexible and interactive space for brainstorming, planning, and organizing ideas visually. Online whiteboards are particularly useful for distributed teams and individuals who need to collaborate without physically being together.

Tools to Make Concept Maps

Several online tools like Miro and Mural can help you create concept maps, but Frameable Whiteboard stands out due to its user-friendly interface, nested cards for structured thinking, affordable price, and real-time collaboration features.

Creating a Concept Map with Frameable Whiteboard

Frameable Whiteboard offers a variety of professionally designed templates, including concept map templates , making it easy to get started. Here’s a step-by-step guide to creating a concept map using Frameable Whiteboard:

1. Sign up and log in

First, sign up for a free account on Frameable Whiteboard. Once you’ve logged in, you can access the wide range of templates and tools available on the platform.

2. Choose the concept map template

Navigate to the recommended templates section at the top of the page and select Show All. A pop-up will show all the templates available for you to scroll and find the concept map template. Once you click the use template button, a new whiteboard with the concept map will open. You’ll find instructions on how to use the concept map template so that you can get started immediately.

3. Customize your concept map

Start customizing the template by adding your main idea, concepts, or related categories, and supporting ideas. Frameable Whiteboard’s intuitive drag-and-drop interface makes it easy to add, move, and connect elements on your concept map.

4. Collaborate in real-time

One of the standout features of Frameable Whiteboard is its real-time collaboration capability. Invite team members to join your whiteboard, where they can contribute ideas, make edits, and provide feedback instantly. This feature is particularly beneficial for collaborative problem-solving, brainstorming sessions, and even task management.

5. Review and finalize

Once you’ve completed your concept map, review it for clarity and completeness. Frameable Whiteboard allows you to easily make adjustments and refinements, ensuring your final concept map is comprehensive and well-organized.

6. Share and export

After finalizing your concept map, you can share it with others by providing a link or exporting it in various formats (PDF, PNG, etc.). This flexibility makes it easy to incorporate your concept map into presentations, reports, or other documents.

Practical Applications of Concept Maps

Concept maps are widely used in education to help students understand complex subjects and organize information logically. They can be used for note-taking, studying, and project planning, making learning more interactive and engaging.

Strategic Planning

In the business, concept maps are invaluable for strategic planning . They allow teams to visualize goals, strategies, and tasks, ensuring that everyone is aligned and working towards common objectives. By mapping out the relationships between different strategic initiatives, concept maps help identify synergies, potential conflicts, and gaps in the overall strategy. This structured visual thinking approach ensures a more coherent and integrated strategic plan.

Project management

Concept maps can significantly enhance project management by providing a clear visual representation of the project’s scope, tasks, and timelines. They help project managers and teams break down the project into smaller, manageable parts, identify dependencies, and ensure all aspects are covered. Using a concept map template from Frameable Whiteboard, project teams can collaboratively plan, monitor, and adjust their projects in real-time, leading to more efficient and successful project execution.

Researchers use concept maps to organize literature reviews, design experiments, and present findings. The visual representation of information helps in identifying gaps, connections, and new research directions.

Unlock the power of concept maps

Concept maps are powerful tools for enhancing problem-solving skills, developing effective problem-solving strategies, and promoting structured thinking. By visually organizing information, they help in understanding complex subjects and identifying relationships between different elements.

Creating a concept map online with tools like Frameable Whiteboard makes the process even more efficient and collaborative. With its user-friendly interface built for structured thinking and real-time collaboration features, Frameable Whiteboard is an excellent choice for anyone looking to improve their structured visual thinking [Link to pillar page] and problem-solving capabilities.

Start exploring the world of concept maps today and unlock your full potential. Sign up for Frameable Whiteboard for free and experience the ease and efficiency of creating concept maps online with its ready-to-use template.

By leveraging the power of concept maps and the capabilities of Frameable Whiteboard, you can enhance your problem-solving skills, develop effective strategies, and achieve your goals with greater ease and efficiency.

Level-up your structured thinking with Frameable Whiteboard

• Tags collaboration , productivity , whiteboard

The Ultimate Guide to Concept Maps: From Its Origin to Concept Map Best Practices

This concept map tutorial is to help you master the technique of using concept maps, whether it is for your education or for your business.

In this concept map guide, you will find insight into,

What is a Concept Map?

Origin of concept maps.

• The Characteristics of a Concept Map

How to Draw a Concept Map

• How Do You Fine-tune a Concept Map
• Concept Map Templates

Uses of Concept Maps

• What are Some Common Mistakes to Avoid When Creating a Concept Map
• Concept Map Best Practices

Concept maps are a graphical tool that is used to visualize meaningful relationships among concepts. It’s used as a knowledge representation tool, meaning they basically represent the knowledge structure that we humans store in our minds about a certain topic.

Both simple and complex concept maps consist of two things: concepts and relationships among them.

Concept maps were the outcome of a research done in the 1970s at Cornell University by Joseph Novak – an American Educator and Research Scientist – and his research team.

In order to study how children understand basic science concepts, they studied and interviewed many children. However, they found it difficult to identify the changes in the ways children understood science concepts with the detailed interview transcripts alone.

The need to find a better solution to represent children’s conceptual understanding led to the development of the concept map in 1972.

Since then it has been used extensively not only in the fields of education and research but also in business.

The Key Characteristics of a Concept Map

Not all diagrams that have words/ phrases inside nodes are concept maps. Concept maps have specific characteristics that distinguish themselves from other diagrams that are used to represent knowledge. And they are,

Nodes are the circles or the boxes that are used to represent a concept or an idea. These may vary in size, according to their hierarchy on the map; for example, more general nodes at the top of the map may be bigger than the more specific nodes that follow them.

Cross-Links

Concept maps consist of concepts in different domains.  And the relationships between these different domains of knowledge are shown with cross-links.

Linking Words

Or linking phrases if it contains more than a word. These describe the type of relationship between the two concepts and appear on the line connecting them.

Hierarchical Structure

Usually, concept maps are organized hierarchically. This means the most general and inclusive concepts are placed at the top of the map. Those that are more specific are positioned below them. Accordingly, hierarchical concept maps are read from top to bottom.

However, the structure of a concept map is not limited to this structure, it could take a free-form approach too – starting from the center and spreading outwards.

Propositional Structure

A concept map illustrates a set of meaningful propositions about a topic.

Every two concepts (in some cases more than two,) along with the linking phrases, form a meaningful sentence, otherwise known as a proposition.

Focus Question

Generally, a concept map should be woven around a focus question, which is the problem or the issue the concept map seeks to resolve. The better the focus question, the richer the concept map will be.

Underlying Theory

Concept maps are based on Ausubel’s Assimilation theory . This is built around the fact that new knowledge can be learned effectively by linking it to what is already known. Concept maps are seen as a methodological tool of this theory.

Generate new ideas and add structure to your thoughts with concept maps. Explore connections between concepts to better understand them with Creately.

Create a Concept Map

You can either draw a concept map on a piece of paper or on a concept mapping software. Either way, stick to the following steps when you are drawing one.

Step 1: Pick a Topic

The first step is to identify a topic you need to study with your concept map. This could be an idea, a question or an issue.

For example, let’s say you are interested in SEO or Search Engine Optimization.

Step 2: Do a Quick Brainstorm

What are the facts, ideas, concepts, themes, queries etc. that come to your mind when you think about this topic? Note these down as you brainstorm around the topic you have selected. Remember to keep these as concise as possible.

Step 3: Start to Draw the Map

It’s recommended to start a concept map from the top and develop it downward, although you can put down your topic at the center and expand it outwards. Either way make sure that the central topic stands out from the rest (use a bigger node, a different color etc.).

Step 4: Connect the Concepts

Now it’s time to connect what you have brainstormed to the central topic and to each other. Remember, the more important the idea, the closer it should be to the top or the center.

As you identify these connections put down the linking words or phrases to indicate the relationship between the two concepts you are linking.

Once the direct connections between concepts have been identified, look for crosslinks that link together concepts from different areas or domains.

Step 5: Anything Missing?

Scrutinize what you have created to make sure that you haven’t missed anything and that the relationships you have identified make sense.

How Do You Fine-tune a Concept Map?

Fine-tuning the concept map is a crucial step when effectively visualizing complex information. Below are some key pointers to follow.

• Begin by reviewing the entire map to identify areas needing improvement or some adjustments.
• Refine the central idea, if necessary, to ensure that the central idea accurately represents the main topic of the concept map.
• If there are long labels, simplify them using specific or descriptive keywords that represent the concept or idea of the map. This will help to reflect the content of each node accurately.
• Evaluate whether any nodes should be added or removed depending on their relevance and redundancy. Look to see if any additional concepts or ideas should be included.
• Review the connections to ensure they correctly represent the relationships between the concepts. If necessary, add or remove connections or adjust the placement of nodes to reflect the connections better.
• Test the map! Test the map with others for feedback, especially on its accuracy and effectiveness.

Editable Concept Map Examples and Templates

Here are some concept map diagram templates you can edit right away on Creately. Click the image to open it in the editor. Make changes according to your needs and export them as images, PNG, PDF, or JPEG.

Concept Map Example 1

Concept Map Example 2

Concept Map Example 3

Concept Map Example 4

Concept Map Example 5

Concept Map Example 6

Concept Map Example 7

Although first introduced to the field of education, concept maps have gained popularity across a number of other fields over the last few decades.

Concept Maps in Education

In the field of education, concept maps are used as both a learning tool and an evaluation tool to assess student learning.

• Foster meaningful learning by helping create connections between what students already know and new knowledge they acquire
• Organize knowledge around a subject for quick analysis
• Assess students’ understanding to see where their knowledge needs improvement
• Conduct effective brainstorming around a topic
• Present complex concepts in an easily digestible way
• Organize instructional material for courses or curricula
• Can be used as a basis for discussion among students
• Help identify valid and invalid ideas held by students
• Help promote creative and critical thinking among students
• Can be used as an alternative to traditional note-taking and writing assignments

Concept Maps in Business

By design, concept maps are apt for business analysis. In the field of business, concept maps are popularly used to preserve, generate and share knowledge.  

• To facilitate team brainstorming sessions to come up with new strategies, new business concepts etc.
• Support creative and result-oriented approach towards business development
• Can be used as a systematic way to share expert business ideas, insights etc. with others
• Help with planning and drafting business documents, business presentations etc.

Concept Maps in Qualitative Research

Concept maps in qualitative research are used as a methodical research strategy.

• Can be used to plan a research project
• Can help reduce voluminous text-based data into a manageable form without losing the meaning
• Identify interconnections between concepts in a study and analyze themes
• Analyze the information provided by interviewees in a study; help the researcher maintain the meaning of the interview
• Present findings in an effective way

What are Some Common Mistakes to Avoid when Creating a Concept Map

When creating your concept map, avoid the below common mistakes that will undermine the map’s effectiveness.

• Overcomplicating. This will make the map too complex or difficult to understand.
• Focusing too much on the details. Getting bogged down with too many details will derail you from the main focus with too much irrelevant and unnecessary information.
• Not using a hierarchy. Without a hierarchy, the concept map will be too complicated to follow and disorganized.
• Not using consistent formatting. It will be difficult to read or understand without consistent formatting and symbols throughout the map, leading to confusion and misunderstandings.
• Being too rigid by not making changes as and when necessary to reflect new information or insights.
• Not testing the map for effectiveness to help identify areas that may need further improvement.

Concept Mapping Best Practices

Start with a clear central idea.

Begin the concept map with a clear yet concise central idea representing the main topic or theme. The central idea should be easily understood, and it should also be the focal point of the map.

Stick with the Hierarchical Structure

Concept maps organized according to the hierarchical structure are easier to read. As the most general concepts go at the top and the more specific ones coming below them, it can easily be read from top to bottom.

Keep a Single Root Concept

A concept map can have two root concepts, but limiting it to one helps the learner easily identify how concepts are constructed. On the other hand, having two root concepts may make it confusing.

Use Meaningful Keywords

Use meaningful and specific keywords to label the concepts. The labels should be descriptive and accurately represent the content of each node.

Color Code Your Concept Maps

Colors help distinguish concepts in different domains immediately. This does not only make it easier to read the map but when it comes to recalling information, color coding plays a vital role.

Add Visual Cues to the Map

Add visual cues such as symbols and images if necessary to highlight important information and to make the concept map more engaging and visually appealing.

Connect Related Ideas

Add visual cues such as symbols and images to highlight important information and make the concept map more engaging and visually appealing.

Make Sure Linking Phrases Make Sense

Two concepts and a linking phrase should make a meaningful sentence. This could be a word, phrase or sometimes even a symbol such as + or %. In any case, make sure that your concept map reads well.

Be Consistent

Use consistent formatting, symbols, and color codes throughout the concept map to make it easier to read and understand.

Always Base Your Concept Map on a Focus Question

Having one single question to answer will help you better structure your concept map and keep yourself from deviating from your focus.

Keep it Simple

If possible, avoid using complex sentences or too much text. Instead, use simple phrases or keywords to communicate the main ideas and connections.

Link to Further Resources

If you are drawing your concept maps with a concept mapping software, you have the ability to make it more resourceful. When mentioning concepts, you can add active links to your concept maps allowing the reader to study the idea more thoroughly.

Review and Revise

One thing to remember is that concept maps can be changed and updated regularly as needed. This will help to refine your ideas and to identify new connections between concepts.

Feed Back on the Comprehensive Concept Map Tutorial

In this concept map tutorial we have covered, everything – whether you are a stranger to concept mapping or have used it before – you should know when it comes to concept map diagrams. If you are ready to go ahead and draw your concept map, start with the Creately Concept Map Maker .

And don’t forget to leave your feedback!

Join over thousands of organizations that use Creately to brainstorm, plan, analyze, and execute their projects successfully.

FAQs About Concept Maps

More related articles.

Amanda Athuraliya is the communication specialist/content writer at Creately, online diagramming and collaboration tool. She is an avid reader, a budding writer and a passionate researcher who loves to write about all kinds of topics.

Business Plan Example and Template

Learn how to create a business plan

What is a Business Plan?

A business plan is a document that contains the operational and financial plan of a business, and details how its objectives will be achieved. It serves as a road map for the business and can be used when pitching investors or financial institutions for debt or equity financing .

A business plan should follow a standard format and contain all the important business plan elements. Typically, it should present whatever information an investor or financial institution expects to see before providing financing to a business.

Contents of a Business Plan

A business plan should be structured in a way that it contains all the important information that investors are looking for. Here are the main sections of a business plan:

1. Title Page

The title page captures the legal information of the business, which includes the registered business name, physical address, phone number, email address, date, and the company logo.

2. Executive Summary

The executive summary is the most important section because it is the first section that investors and bankers see when they open the business plan. It provides a summary of the entire business plan. It should be written last to ensure that you don’t leave any details out. It must be short and to the point, and it should capture the reader’s attention. The executive summary should not exceed two pages.

3. Industry Overview

The industry overview section provides information about the specific industry that the business operates in. Some of the information provided in this section includes major competitors, industry trends, and estimated revenues. It also shows the company’s position in the industry and how it will compete in the market against other major players.

4. Market Analysis and Competition

The market analysis section details the target market for the company’s product offerings. This section confirms that the company understands the market and that it has already analyzed the existing market to determine that there is adequate demand to support its proposed business model.

Market analysis includes information about the target market’s demographics , geographical location, consumer behavior, and market needs. The company can present numbers and sources to give an overview of the target market size.

A business can choose to consolidate the market analysis and competition analysis into one section or present them as two separate sections.

5. Sales and Marketing Plan

The sales and marketing plan details how the company plans to sell its products to the target market. It attempts to present the business’s unique selling proposition and the channels it will use to sell its goods and services. It details the company’s advertising and promotion activities, pricing strategy, sales and distribution methods, and after-sales support.

6. Management Plan

The management plan provides an outline of the company’s legal structure, its management team, and internal and external human resource requirements. It should list the number of employees that will be needed and the remuneration to be paid to each of the employees.

Any external professionals, such as lawyers, valuers, architects, and consultants, that the company will need should also be included. If the company intends to use the business plan to source funding from investors, it should list the members of the executive team, as well as the members of the advisory board.

7. Operating Plan

The operating plan provides an overview of the company’s physical requirements, such as office space, machinery, labor, supplies, and inventory . For a business that requires custom warehouses and specialized equipment, the operating plan will be more detailed, as compared to, say, a home-based consulting business. If the business plan is for a manufacturing company, it will include information on raw material requirements and the supply chain.

8. Financial Plan

The financial plan is an important section that will often determine whether the business will obtain required financing from financial institutions, investors, or venture capitalists. It should demonstrate that the proposed business is viable and will return enough revenues to be able to meet its financial obligations. Some of the information contained in the financial plan includes a projected income statement , balance sheet, and cash flow.

9. Appendices and Exhibits

The appendices and exhibits part is the last section of a business plan. It includes any additional information that banks and investors may be interested in or that adds credibility to the business. Some of the information that may be included in the appendices section includes office/building plans, detailed market research , products/services offering information, marketing brochures, and credit histories of the promoters.

Business Plan Template

Here is a basic template that any business can use when developing its business plan:

Section 1: Executive Summary

• Present the company’s mission.
• Describe the company’s product and/or service offerings.
• Give a summary of the target market and its demographics.
• Summarize the industry competition and how the company will capture a share of the available market.
• Give a summary of the operational plan, such as inventory, office and labor, and equipment requirements.

Section 2: Industry Overview

• Describe the company’s position in the industry.
• Describe the existing competition and the major players in the industry.
• Provide information about the industry that the business will operate in, estimated revenues, industry trends, government influences, as well as the demographics of the target market.

Section 3: Market Analysis and Competition

• Define your target market, their needs, and their geographical location.
• Describe the size of the market, the units of the company’s products that potential customers may buy, and the market changes that may occur due to overall economic changes.
• Give an overview of the estimated sales volume vis-à-vis what competitors sell.
• Give a plan on how the company plans to combat the existing competition to gain and retain market share.

Section 4: Sales and Marketing Plan

• Describe the products that the company will offer for sale and its unique selling proposition.
• List the different advertising platforms that the business will use to get its message to customers.
• Describe how the business plans to price its products in a way that allows it to make a profit.
• Give details on how the company’s products will be distributed to the target market and the shipping method.

Section 5: Management Plan

• Describe the organizational structure of the company.
• List the owners of the company and their ownership percentages.
• List the key executives, their roles, and remuneration.
• List any internal and external professionals that the company plans to hire, and how they will be compensated.
• Include a list of the members of the advisory board, if available.

Section 6: Operating Plan

• Describe the location of the business, including office and warehouse requirements.
• Describe the labor requirement of the company. Outline the number of staff that the company needs, their roles, skills training needed, and employee tenures (full-time or part-time).
• Describe the manufacturing process, and the time it will take to produce one unit of a product.
• Describe the equipment and machinery requirements, and if the company will lease or purchase equipment and machinery, and the related costs that the company estimates it will incur.
• Provide a list of raw material requirements, how they will be sourced, and the main suppliers that will supply the required inputs.

Section 7: Financial Plan

• Describe the financial projections of the company, by including the projected income statement, projected cash flow statement, and the balance sheet projection.

Section 8: Appendices and Exhibits

• Quotes of building and machinery leases
• Proposed office and warehouse plan
• Market research and a summary of the target market
• Credit information of the owners
• List of product and/or services

Related Readings

Thank you for reading CFI’s guide to Business Plans. To keep learning and advancing your career, the following CFI resources will be helpful:

• Corporate Structure
• Three Financial Statements
• Business Model Canvas Examples
• See all management & strategy resources
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How to Make a Concept Map Diagram (With Examples)

Praburam Srinivasan

Growth Marketing Manager

May 30, 2024

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Managing all the scattered details to keep your projects on track and organized can be a hassle.

Whether juggling tasks, scope, or dependencies, you need a solution to bring some order to the chaos and keep your projects moving smoothly.

That’s where a concept map diagram comes in. 🙂

Think of concept mapping as a visual tool for illustrating the link between complex ideas and their relationship to your key concept.

Whether you’re an educator, student, or business professional, concept maps can help you visualize ideas and organize them to improve your understanding of a particular topic and how to connect ideas for meaningful learning.

Keep reading to learn how to create concept maps to represent ideas. We’ll also share some concept map templates that project managers can use in their daily workflows.  

What is a Concept Map Diagram?

Understand the basics of concept maps, 1. spider mapping, 2. hierarchy mapping, 3. flowcharting, 4. system mapping, creativity , design thinking , 1. identify your main concept, 2. group connected concepts, 3. define relationships between concepts and use linking words , 4. add visual elements such as colors and icons, 5. connect them to your workflows , concept map diagrams and learning styles , concept map diagrams in different fields.

A concept map is a visual tool that illustrates the connections between related ideas and concepts. It uses linking lines or arrows to show how these ideas are interconnected. 

A visual representation of higher-level concepts on a concept map makes highlighting how the pieces work together easier. Teams working on creative ideas use it as a graphical tool to show meaningful connections between various ideas.

The best part is that use cases for most concept maps for problem-solving and idea generation extend to education, healthcare, knowledge management, and project planning.

Concept Maps vs. Mind Maps

Both mind maps and concept maps are visual tools to organize information and help you with ideation. So, it’s common to get confused between a mind map and a concept map. 

However, they differ in structure, purpose, and approach. Here’s a quick overview of how a concept map differs from a mind map . To know more about mind maps, try reading an overview of ClickUp Mind Maps .

Read more: 25 mind map examples to structure information ✏️

Now that you understand concept maps vs. mind maps, it’s time to dig deeper into concept maps.

Let’s take a look at all the benefits of concept mapping.

Benefits of concept mapping

• Get a detailed overview: When you build concept maps, you dive into the details of a subject to map out all the sub-topics and ideas related to the main concept. This ideation technique is akin to getting an overview along with connected details
• Organize big ideas : It lets you take scattered ideas and visually organize them in a neat, easy-to-understand diagram
• Understand relationships between ideas: Concept maps show how different ideas and pieces are related. Mapping the conceptual diagram lets you visualize relationships and connections you may totally miss otherwise
• Get innovative insights: When you start linking different areas of the map together through cross-links, it often leads to creative new ideas you hadn’t thought of before
• Retain more information: Concept maps, with their visual elements like shapes and connecting lines, enhance memory retention and improve recall in the learning process compared to verbal communication

A concept map diagram can make grasping complex information, understanding interlinking ideas, and gaining creative insights easy.

Core elements of a concept map

Concepts are the building blocks of a concept map. They’re the shapes you see in the diagram, representing patterns or ideas.

Hierarchical structure

Concept maps follow a hierarchical structure, leading you from general concepts to specific ones. 

At the top, you’ve got the big-picture concepts. As you move down, things get more specific and detailed. 

Propositional structure

Propositions connect concepts. They comprise two or more concepts connected by handy linking words. This structure forms the basis for building new knowledge.

Cross-links

Cross-links connect concepts in different parts of the map. They show how ideas from different domains connect, sparking creativity.

Linking words/phrases

These connectors are the glue that holds everything together. They sit on the lines between concepts and tell you how they’re related. Short and to the point, they often contain a verb, like ‘causes’ or ‘requires.’

Focus question

Every concept map diagram needs a guiding question that sets the stage for what you’re trying to figure out. Placed right at the top, it keeps you on track as you navigate the map.

As an example, let’s see how this Customer Journey Concept Map structure was created. 

Concept mapping helps you identify the customer’s experience across various touchpoints and gives a view of what happens at each journey stage. Your team can use this as a starting point to make decisions and plan actions. 

Types of Concept Maps

While the core elements of all concept map diagrams are simple—concepts and connections—these maps can take various forms to suit different purposes.

Let’s explore the four main types of concept map diagrams and the situations where each is most useful.

This creative concept map resembles a spider web—there is a central idea that branches out to related concepts in a radial pattern .

In this variant of concept mapping, subtopics can further branch into smaller ones, creating a hierarchical structure.

When to use it: Spider mapping is useful for expanding on a single idea or theme.

• Education: Teachers can use spider maps to break down complex subjects for students
• Business: Professionals can brainstorm ideas for products 
• Healthcare: Healthcare professionals can organize patient symptoms and medical history 

This concept map depicts the order or structure of elements, similar to an organizational chart in a company. It showcases the levels of authority and roles within a system.

When to use it: You can use hierarchy mapping to understand system elements and their hierarchical positions.

• Education: Educators can illustrate academic department structures
• Business: HR managers can visualize reporting relationships and team structures
• Healthcare: Administrators can depict healthcare professional roles within a facility

Commonly recognized as a sequence of steps, flowcharting illustrates the progression of a process. Here, arrows indicate different choices or actions, akin to a situation where you control the results. 

When to use it: You can use flowcharting to understand a process or make a decision.

• Education: Students and professors can outline experiments or historical events with flowcharts
• Business: Managers can map workflow processes to streamline operations in the business world 
• Healthcare: Nurses can document patient care procedures with flowcharts

A system map displays the interconnections among various parts of a concept. You may find symbols like ‘+’ or ‘- that denote positive or negative correlations . This concept map diagram can look like a complex web of related examples. 

When to use it: When you want to understand the dynamics of a system or a team.

• Education: Students analyze cause-and-effect relationships
• Business: Marketing analysts can explore factors influencing consumer behavior
• Healthcare: Researchers can investigate factors contributing to disease outbreaks and develop intervention strategies

How to Create a Concept Map Diagram

Creativity and design thinking are two prerequisites you must have before you build concept maps. 

Creativity helps you find unique connections between ideas and see things differently. It lets you explore the topic thoroughly and captures all the nuances and complexities.

When you design a concept map step, consider how it looks—use colors, shapes, and layout to make it easy to understand. By applying design thinking principles, you can create a concept map that effectively communicates information and engages viewers.

You’re ready to move ahead if you’re set with these requirements.

Pro tip💡:  You can use the virtual ClickUp Whiteboards to brainstorm and build concept maps with your team. Teamwork FTW!

Step-by-Step Guide to Building a Concept Map

The first task in concept mapping is to figure out the central idea or topic you want to explore extensively.

This core concept will form the foundation for your map and help you identify and organize all the related concepts that branch out from it.

For example, if you aim to understand effective time management strategies as a project manager, start your concept map with the main phrase “time management.”

You can also ask a guiding focus question like ‘How can I manage my time more efficiently?’.

Conversely, multiple concepts will lead to a messy conceptual diagram that your team or audience will find difficult to understand. 

Consider using virtual whiteboard software to ideate and structure knowledge and for collaborative concept mapping. The software can handle diagrams, flowcharts, and frameworks your team uses. 

For example, ClickUp’s Whiteboards enable your team to create and work freely over a creative canvas. They support your teams from ideation to execution. Build concept maps, color code each idea or task, and convert them into actionable tasks within ClickUp. 

Now, it’s time to engage in some freethinking and brainstorming to jot down as many ideas and sub-concepts as possible related to your core theme. 

Don’t restrict your thinking. Consider your main concept from multiple angles and explore tangential connections. 

As you map out these related ideas, you may discover creative new avenues you hadn’t initially considered. 

Let your creative juices flow with ClickUp’s Concept Map Template , a customizable and beginner-friendly template for connecting your ideas with related concepts, visualizing how all elements are connected to one another, and organizing and summarizing your ideas. 

The benefits of using this template to organize ideas, create relationships between two concepts, and track progress are that it: 

• Provides a structured framework to visualize complex information 
• Identifies relationships between ideas, processes, and concepts 
• Analyzes data to draw meaningful conclusions 
• Lets you collaborate with stakeholders on a creative concept 

Considering there may be a web of sub-ideas and related concepts surrounding your core ideas, define relationships between them. 

For added context, use linking words/phrases to add more content for each relationship. 

Once you create the map in a concept map maker , ask yourself: 

• Does this concept map design and layout make sense? 
• Can I rearrange elements for better clarity? 
• Does every element fit in its respective place? 
• Can I add a linking phrase to represent this relationship? 

Break down the monotony by adding colors and icons to differentiate between domains in your concept map. 

A trick here is to use specific colors for a specific domain , especially for complex concepts. 

For example, as seen in this ClickUp Bubble Map Template , a subcategory of the main idea can be marked in yellow, an adjective to describe the subcategory in purple, and the result in green. 

Pro tip💡:  When you have a large amount of complex data, ClickUp’s Bubble Map Template helps you identify patterns that may go unnoticed. 

You now know how to draw concept maps using ClickUp Whiteboards and pre-built templates. 

Going a step further, once you create a concept map, connect it to your workflows in ClickUp’s Project Management Software . 

Now, create logical pathways between tasks, which can be edited, deleted, or rearranged with a few clicks. 

Pro tip💡: Consider using ClickUp’s Proofing feature to collaborate on mind maps and concept maps for your software development projects. 

We recommend using ClickUp’s mind map templates to make brainstorming sessions easier. As these are customizable, they can easily be modified to create concept maps too.

The simplest one is ClickUp’s Simple Mind Map Template —as a thought-mapping tool to visualize your ideas and tasks. Drag and drop the elements, move them around, and double-click to edit the text. This template has expanding and collapsible layers for adding notes, ideas, and real-time collaboration with your team. 

Read more: How to make a mind map in Word?

Visual learners: Visual learners thrive on graphical representations. Concept maps visually connect information, aiding in organization and processing. 

For example, a history student visually maps key events and figures.

Kinesthetic learners: Kinesthetic learners learn by doing things. Learners can deepen their understanding by physically arranging concepts and making connections using concept mapping. 

For instance, they might move labeled cards representing body systems when studying anatomy. 

Auditory learners: Auditory learners soak up info through listening. Even though maps are visual, auditory learners can use them by talking through their thoughts. 

For example, a literature student can use concept maps to discuss themes and motifs

Reading/Writing learners: These learners excel at processing written text. Concept maps can organize big concepts into easily readable formats and make it easy to summarize content.

For example, a psychology student might create a map summarizing key theories and proponents.

For teachers

• Promote collaboration: During a group project, teachers can ask students to collaborate on a concept map to organize their thoughts and contributions effectively
• Promote critical thinking: Students can use a concept map to illustrate the relationships between historical events or biological functions, promoting a deeper understanding of cause and effect

For students

• Ideation: Students can use a concept map template to organize their thoughts and spark creativity. For instance, when brainstorming for a renewable energy project, they can map different sources and technologies to generate new ideas
• Quick revision: Concept maps make it easy to review study material quickly. For example, if there is a history test, the concept map of important events can help refresh the key points quickly 
• Strategic planning: Mapping goals and objectives helps business leaders create thorough plans. Stakeholders can use a concept map to outline long-term goals and strategies
• Project management: Concept maps clarify project details for better planning and execution. Project managers can explain the project scope, tasks, and dependencies using a concept map 
• Knowledge creation and transfer: Organizations can create company policies and procedures using a concept map maker 
• Patient education: Visual representations through concept maps enhance patient understanding of medical conditions, treatments, and care instructions
• Treatment analysis: Mapping symptoms, diagnoses, and treatment options to analyze and evaluate complex medical cases effectively

Create Concept Maps with ClickUp

Now that you have seen concept map examples and understand how to use them, it’s time to create your own. Even if you are a beginner, you can quickly get started with ClickUp’s pre-built customizable concept map templates . 

Whether you want to adjust the layout, add or remove elements, or tweak the design to match your personal style, ClickUp provides flexibility while bringing your key concepts to life. 

Maps are created in ClickUp Whiteboards that are customizable, shareable, and great for remote collaboration. 

Start your concept map journey by signing up on ClickUp for free .

Frequently Asked Questions (FAQ)

1. what are the four types of concept maps.

The four types of concept maps include: 

• Spider maps: Where the central idea branches out to related concepts in a radial pattern
• Hierarchy maps: Showcasing the levels of authority and roles within a system
• Flowcharting: Shows a sequence of steps to show how a process progresses
• System maps: Visualizing the interconnections among various parts of a concept

2. How do you structure a concept map?

To structure a concept map effectively, start with the main concept or topic in the center. Then, you can branch out with related sub-topics or ideas and link them with lines or arrows. 

3. What are the 3 components of a concept map?

The three main components of a concept map are:

• Concepts: The ideas, topics, or terms represented in circles or boxes
• Linking lines/arrows: These connect the concepts and show their relationships
• Linking phrases/words: Written on the linking lines, these phrases clarify the specific relationship between the connected concepts

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How Concept Maps Enhance Thinking and Step-by-Step Guide to Creating One

Jun 7, 2024

Visual learning tools like concept maps enhance understanding and organization in education, business, and personal development. Concept maps are versatile and effective, allowing users to visualize relationships between ideas. This article explores the benefits, key elements, differences from other graphic organizers, and practical steps to create effective concept maps using powerful features of Xmind .

What Is a Concept Map?

A concept map is a visual diagram that shows relationships between concepts and ideas. These maps are typically hierarchical, with the most general concepts at the top and more specific sub-concepts arranged below. Each concept is usually enclosed in a box or circle and linked to related concepts with lines or arrows, often accompanied by linking words that describe the relationship between the concepts.

There are various ways to classify concept maps. Quantitative vs qualitative, free form or fixed structure, collaborative vs individual, demonstrative or analytic, etc.

But when people say concept maps, they usually refer to the qualitative, free-style, and analytic type - the Novakian style .

Benefits of Using Concept Maps

Concept maps offer numerous benefits across different fields:

Enhance Understanding

By visually organizing information, concept maps help in grasping complex topics. They allow users to see the relationships and hierarchies between different concepts at a glance. This visual representation can make abstract or complicated information more concrete and accessible, helping overall comprehension of the subject matter.

Help Memory Retention

The visual nature of concept maps makes it easier to remember information. When concepts are visually linked in a structured format, they become more memorable. This is because visuals help engage multiple senses and cognitive processes, reinforcing learning.

Promote Critical Thinking

Creating a concept map requires analysis, synthesis, and evaluation of information. As users determine how concepts are related and organize them into a coherent structure, they engage in critical thinking. This process encourages deeper understanding and helps in identifying gaps in knowledge.

Mind Maps vs. Concept Maps

While both mind maps and concept maps are used for organizing information visually, they serve different purposes and have distinct structures:

• Mind Maps: Centered around a single central idea with branches radiating outwards. They are typically used for brainstorming and idea generation.
• Concept Maps: Hierarchical and show relationships between multiple concepts, making them more suited for understanding and explaining complex topics.

👉 Detailed comparison.

Flowcharts vs. Concept Maps

Flowcharts and concept maps are both visual tools, but they are used in different contexts:

• Flowcharts: Used to represent processes or workflows, showing a sequence of steps or actions.
• Concept Maps: Focus on the relationships between different concepts rather than the steps of a process.

How to Make a Concept Map?

Step 0: key elements of a classic concept map.

Before creating a concept map, it's important to understand its main elements:

Concepts : Main ideas represented as nodes.

Links and Cross Links : Lines or arrows showing relationships between concepts.

Linking Words : Phrases on the links explaining relationships.

Propositions : Statements formed by combining concepts with linking words.

Hierarchical Structure : Organizes concepts from general to specific.

Focus Question : The central question guiding the map.

Step 1: Preparation - Focus Question and Research

Pick one topic that you are interested in and ask a critical question about it. This is your central topic and focus question, which typically starts with "How", "Why", and "What".

Remember, the concept map is a free form ( aka complicated). So better to be humble in choosing a question.

Do LOTS of research if you are new to the topic so that you prepare yourself with a decent number of ideas. If it is a casual study, scanning through the top 5~8 results of a Google search will do.

• Manage a macro concept map by linking its nodes with micro diagrams. That way you can avoid crowding the canvas by too many details.
• Start with a narrow and interesting question, like how to fall asleep within 5 minutes or why am I so tired?

Step 2: Brainstorming - Concept Generation

List out all the related points you can come up with.

Notice that at the brainstorming phase, you should skip judging on redundancy, relationships, or importance of the listed items. The objective is on the number of concepts .   By the end of this phase, you may generate around 20~50 nodes. This number fits the most common sizes of paper/monitor screens.

You can document your ideas in spreadsheets, for that makes your large-scale concept scoring and ranking as smooth as a breeze.

Concept mapping is NOT note-taking in boxes. You should keep the concepts concise and clear for better readability.

In this step, Xmind would be the perfect tool for brainstorming and organizing your ideas. 👇

Step 3: Structuring - Concept Organizing

This step involves two actions: grouping and scoring . As these actions go back and forth each other, I list them as one united step.

Concept grouping requires putting related or similar nodes into piles. You can achieve that by putting all ideas on one Post-It note and organizing them on paper.

Scoring requires weighing each of the concepts on some scale. The nodes are rated upon a 1-5 range for their relative importance, with 1 meaning the least important and 5 the most.

While scoring, you can reorganize groups or put back omitted words.

• Try to build up the visual hierarchy. Hierarchical order gives clarity to the map. Align nodes according to importance in (preferably) top-down order. Center-out order is acceptable. Visually separate important nodes by color or font size differences.
• Document your marking rubrics for the concepts. When you become more experienced in the subject, you can re-examine the selection of ideas.

Step 4: Linking - Linking Words and Cross Links

Find out links between ideas and connect them with Linking Words.

Proper linking words help you consolidate the relationship between nodes. Sometimes you may find it challenging to find appropriate linking phrases. This difficulty is helpful, as it signifies your confusion on the link.

Examples of linking words include:  "shows", "defined as", "covers", "as demonstrated by", "makes", "can be", "for example", "leads to", "determined by", "important because".

After you generate primary links, create Cross Links that illustrate relationships between same-level nodes of different branches.

You have to be selective on link choices. Notice that two things are always connected, but only essential links are helpful to trigger insights and move the needle.

In Xmind application, you can double-click the Relationship line to start editing the linking words. 👇

Step 5: Finalization - Continuous Revision

Congratulations! By this stage, you are close to the final!

Finalizing your map works like going through a series of Q&As. It entails three types of evaluations: structure, content, and graphic design . The former two should take disproportionately more time than the last one.

Structure investigation includes two parts: the visual clarity of the structure and the accuracy of relationships.

• Are your central nodes easily identifiable? 
• Sub-concepts branch appropriately from main ideas?
• Are linking lines connected in the right directions? 
• Do linking words accurately describe the relationship between concepts?
• Are hyperlinks effectively used? (Optional, only for digital maps)

The content assessment looks on the logic of the propositions and the completeness of the map.

• Do the propositions make sense?
• Does it include almost all critical ideas (at least 20)?

Graphic Design

Graphic design evaluation includes handling design elements and creativity in expression.

• Do the nodes and links fit visual proximity and alignment principles?
• Do you use contrast to highlight important from the other?
• Are texts easy to read and appropriately sized to fit the page?

Revisions go beyond what is presented on the map. To name a few: the underlying theory, marking rubrics, linking phrase choices, and grouping decisions.

Real Applications and Concept Map Templates

Concept maps are used in various fields for different purposes. Here are some examples and templates at your hand:

Educational Use

Teachers use concept maps to explain complex subjects like photosynthesis. In this context, the central concept is the photosynthesis process itself, with branches leading to related concepts such as sunlight, chlorophyll, and oxygen. This helps students visualize and understand how these elements interact within the process. Concept maps in education can also be used to summarize chapters, outline research projects, or map out historical events, providing a clear and structured way to study and retain information.

Business Use

Concept maps help outline the project scope, tasks, and relationships in project management. For example, a project manager might create a concept map to visualize the stages of a project, from initial planning to execution and delivery. Each stage can be broken down into tasks, with links showing dependencies and timelines. This provides a clear overview of the project, making it easier to communicate with team members and stakeholders, and ensuring that all aspects of the project are accounted for.

Medical Field

Healthcare professionals use concept maps to understand and communicate complex patient cases in the medical field. For example, a doctor might create a concept map for a patient with multiple health issues, with the central node representing the patient and branches for each medical condition, treatment plan, medications, and potential interactions. This helps in visualizing the patient's overall health status and ensuring a comprehensive approach to treatment. It also facilitates communication among healthcare providers and patients and their families.

In chemistry, concept maps can be used to plan and organize different aspects of chemical topics. For example, a chemistry student might create a concept map to outline the concepts of the Mole, Molar Mass, and Empirical Formula, with the central node representing chemical calculations and branches for each concept. This helps in visualizing the relationships between these concepts, understanding complex linking verbs, and managing multiple cross-links with a manageable number of nodes. It ensures that all relevant components are interconnected and clearly understood during the learning process.

In nursing, concept maps can be used to organize and outline various aspects of patient care. For example, a nursing student might create a concept map to cover key concepts such as nursing diagnosis, patient education, and care plans, with the central node representing patient care and branches for each key area. This hierarchical and clean style is suitable for diagrams containing a large number of concepts but with simple, straightforward connections. It helps in visualizing the overall care strategy, ensuring all aspects of nursing are systematically addressed and easy to understand.

Concept mapping is a powerful tool that can enhance understanding, memory retention, and critical thinking across various fields. Whether used in education, business, or personal development, concept maps provide a clear and effective way to visualize and organize information. By following the steps outlined in this article, you can create your concept maps to simplify complex topics and achieve your goals. Start concept mapping today and experience the benefits for yourself!

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• Small Business Grants
• Crowdfunding Sites
• How to Get a Business Loan
• Small Business Insurance Providers
• Best Factoring Companies
• Types of Bank Accounts
• Best Banks for Small Business
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12 Key Elements of a Business Plan (Top Components Explained)

Starting and running a successful business requires proper planning and execution of effective business tactics and strategies .

You need to prepare many essential business documents when starting a business for maximum success; the business plan is one such document.

When creating a business, you want to achieve business objectives and financial goals like productivity, profitability, and business growth. You need an effective business plan to help you get to your desired business destination.

Even if you are already running a business, the proper understanding and review of the key elements of a business plan help you navigate potential crises and obstacles.

This article will teach you why the business document is at the core of any successful business and its key elements you can not avoid.

Let’s get started.

Why Are Business Plans Important?

Business plans are practical steps or guidelines that usually outline what companies need to do to reach their goals. They are essential documents for any business wanting to grow and thrive in a highly-competitive business environment .

1. Proves Your Business Viability

A business plan gives companies an idea of how viable they are and what actions they need to take to grow and reach their financial targets. With a well-written and clearly defined business plan, your business is better positioned to meet its goals.

2. Guides You Throughout the Business Cycle

A business plan is not just important at the start of a business. As a business owner, you must draw up a business plan to remain relevant throughout the business cycle .

During the starting phase of your business, a business plan helps bring your ideas into reality. A solid business plan can secure funding from lenders and investors.

After successfully setting up your business, the next phase is management. Your business plan still has a role to play in this phase, as it assists in communicating your business vision to employees and external partners.

Essentially, your business plan needs to be flexible enough to adapt to changes in the needs of your business.

3. Helps You Make Better Business Decisions

As a business owner, you are involved in an endless decision-making cycle. Your business plan helps you find answers to your most crucial business decisions.

A robust business plan helps you settle your major business components before you launch your product, such as your marketing and sales strategy and competitive advantage.

4. Eliminates Big Mistakes

Many small businesses fail within their first five years for several reasons: lack of financing, stiff competition, low market need, inadequate teams, and inefficient pricing strategy.

Creating an effective plan helps you eliminate these big mistakes that lead to businesses' decline. Every business plan element is crucial for helping you avoid potential mistakes before they happen.

5. Secures Financing and Attracts Top Talents

Having an effective plan increases your chances of securing business loans. One of the essential requirements many lenders ask for to grant your loan request is your business plan.

A business plan helps investors feel confident that your business can attract a significant return on investments ( ROI ).

You can attract and retain top-quality talents with a clear business plan. It inspires your employees and keeps them aligned to achieve your strategic business goals.

Key Elements of Business Plan

Starting and running a successful business requires well-laid actions and supporting documents that better position a company to achieve its business goals and maximize success.

A business plan is a written document with relevant information detailing business objectives and how it intends to achieve its goals.

With an effective business plan, investors, lenders, and potential partners understand your organizational structure and goals, usually around profitability, productivity, and growth.

Every successful business plan is made up of key components that help solidify the efficacy of the business plan in delivering on what it was created to do.

Here are some of the components of an effective business plan.

1. Executive Summary

One of the key elements of a business plan is the executive summary. Write the executive summary as part of the concluding topics in the business plan. Creating an executive summary with all the facts and information available is easier.

In the overall business plan document, the executive summary should be at the forefront of the business plan. It helps set the tone for readers on what to expect from the business plan.

A well-written executive summary includes all vital information about the organization's operations, making it easy for a reader to understand.

The key points that need to be acted upon are highlighted in the executive summary. They should be well spelled out to make decisions easy for the management team.

A good and compelling executive summary points out a company's mission statement and a brief description of its products and services.

An executive summary summarizes a business's expected value proposition to distinct customer segments. It highlights the other key elements to be discussed during the rest of the business plan.

Including your prior experiences as an entrepreneur is a good idea in drawing up an executive summary for your business. A brief but detailed explanation of why you decided to start the business in the first place is essential.

Adding your company's mission statement in your executive summary cannot be overemphasized. It creates a culture that defines how employees and all individuals associated with your company abide when carrying out its related processes and operations.

Your executive summary should be brief and detailed to catch readers' attention and encourage them to learn more about your company.

Components of an Executive Summary

Here are some of the information that makes up an executive summary:

• The name and location of your company
• Products and services offered by your company
• Mission and vision statements
• Success factors of your business plan

2. Business Description

Your business description needs to be exciting and captivating as it is the formal introduction a reader gets about your company.

What your company aims to provide, its products and services, goals and objectives, target audience , and potential customers it plans to serve need to be highlighted in your business description.

A company description helps point out notable qualities that make your company stand out from other businesses in the industry. It details its unique strengths and the competitive advantages that give it an edge to succeed over its direct and indirect competitors.

Spell out how your business aims to deliver on the particular needs and wants of identified customers in your company description, as well as the particular industry and target market of the particular focus of the company.

Include trends and significant competitors within your particular industry in your company description. Your business description should contain what sets your company apart from other businesses and provides it with the needed competitive advantage.

In essence, if there is any area in your business plan where you need to brag about your business, your company description provides that unique opportunity as readers look to get a high-level overview.

Components of a Business Description

Your business description needs to contain these categories of information.

• Business location
• The legal structure of your business
• Summary of your business’s short and long-term goals

3. Market Analysis

The market analysis section should be solely based on analytical research as it details trends particular to the market you want to penetrate.

Graphs, spreadsheets, and histograms are handy data and statistical tools you need to utilize in your market analysis. They make it easy to understand the relationship between your current ideas and the future goals you have for the business.

All details about the target customers you plan to sell products or services should be in the market analysis section. It helps readers with a helpful overview of the market.

In your market analysis, you provide the needed data and statistics about industry and market share, the identified strengths in your company description, and compare them against other businesses in the same industry.

The market analysis section aims to define your target audience and estimate how your product or service would fare with these identified audiences.

Market analysis helps visualize a target market by researching and identifying the primary target audience of your company and detailing steps and plans based on your audience location.

Obtaining this information through market research is essential as it helps shape how your business achieves its short-term and long-term goals.

Market Analysis Factors

Here are some of the factors to be included in your market analysis.

• The geographical location of your target market
• Needs of your target market and how your products and services can meet those needs
• Demographics of your target audience

Components of the Market Analysis Section

Here is some of the information to be included in your market analysis.

• Industry description and statistics
• Demographics and profile of target customers
• Marketing data for your products and services
• Detailed evaluation of your competitors

4. Marketing Plan

A marketing plan defines how your business aims to reach its target customers, generate sales leads, and, ultimately, make sales.

Promotion is at the center of any successful marketing plan. It is a series of steps to pitch a product or service to a larger audience to generate engagement. Note that the marketing strategy for a business should not be stagnant and must evolve depending on its outcome.

Include the budgetary requirement for successfully implementing your marketing plan in this section to make it easy for readers to measure your marketing plan's impact in terms of numbers.

The information to include in your marketing plan includes marketing and promotion strategies, pricing plans and strategies , and sales proposals. You need to include how you intend to get customers to return and make repeat purchases in your business plan.

5. Sales Strategy

Sales strategy defines how you intend to get your product or service to your target customers and works hand in hand with your business marketing strategy.

Your sales strategy approach should not be complex. Break it down into simple and understandable steps to promote your product or service to target customers.

Apart from the steps to promote your product or service, define the budget you need to implement your sales strategies and the number of sales reps needed to help the business assist in direct sales.

Your sales strategy should be specific on what you need and how you intend to deliver on your sales targets, where numbers are reflected to make it easier for readers to understand and relate better.

6. Competitive Analysis

Providing transparent and honest information, even with direct and indirect competitors, defines a good business plan. Provide the reader with a clear picture of your rank against major competitors.

Identifying your competitors' weaknesses and strengths is useful in drawing up a market analysis. It is one information investors look out for when assessing business plans.

The competitive analysis section clearly defines the notable differences between your company and your competitors as measured against their strengths and weaknesses.

This section should define the following:

• Your competitors' identified advantages in the market
• How do you plan to set up your company to challenge your competitors’ advantage and gain grounds from them?
• The standout qualities that distinguish you from other companies
• Potential bottlenecks you have identified that have plagued competitors in the same industry and how you intend to overcome these bottlenecks

In your business plan, you need to prove your industry knowledge to anyone who reads your business plan. The competitive analysis section is designed for that purpose.

7. Management and Organization

Management and organization are key components of a business plan. They define its structure and how it is positioned to run.

Whether you intend to run a sole proprietorship, general or limited partnership, or corporation, the legal structure of your business needs to be clearly defined in your business plan.

Use an organizational chart that illustrates the hierarchy of operations of your company and spells out separate departments and their roles and functions in this business plan section.

The management and organization section includes profiles of advisors, board of directors, and executive team members and their roles and responsibilities in guaranteeing the company's success.

Apparent factors that influence your company's corporate culture, such as human resources requirements and legal structure, should be well defined in the management and organization section.

Defining the business's chain of command if you are not a sole proprietor is necessary. It leaves room for little or no confusion about who is in charge or responsible during business operations.

This section provides relevant information on how the management team intends to help employees maximize their strengths and address their identified weaknesses to help all quarters improve for the business's success.

8. Products and Services

This business plan section describes what a company has to offer regarding products and services to the maximum benefit and satisfaction of its target market.

Boldly spell out pending patents or copyright products and intellectual property in this section alongside costs, expected sales revenue, research and development, and competitors' advantage as an overview.

At this stage of your business plan, the reader needs to know what your business plans to produce and sell and the benefits these products offer in meeting customers' needs.

The supply network of your business product, production costs, and how you intend to sell the products are crucial components of the products and services section.

Investors are always keen on this information to help them reach a balanced assessment of if investing in your business is risky or offer benefits to them.

You need to create a link in this section on how your products or services are designed to meet the market's needs and how you intend to keep those customers and carve out a market share for your company.

Repeat purchases are the backing that a successful business relies on and measure how much customers are into what your company is offering.

This section is more like an expansion of the executive summary section. You need to analyze each product or service under the business.

9. Operating Plan

An operations plan describes how you plan to carry out your business operations and processes.

The operating plan for your business should include:

• Information about how your company plans to carry out its operations.
• The base location from which your company intends to operate.
• The number of employees to be utilized and other information about your company's operations.
• Key business processes.

This section should highlight how your organization is set up to run. You can also introduce your company's management team in this section, alongside their skills, roles, and responsibilities in the company.

The best way to introduce the company team is by drawing up an organizational chart that effectively maps out an organization's rank and chain of command.

What should be spelled out to readers when they come across this business plan section is how the business plans to operate day-in and day-out successfully.

10. Financial Projections and Assumptions

Bringing your great business ideas into reality is why business plans are important. They help create a sustainable and viable business.

The financial section of your business plan offers significant value. A business uses a financial plan to solve all its financial concerns, which usually involves startup costs, labor expenses, financial projections, and funding and investor pitches.

All key assumptions about the business finances need to be listed alongside the business financial projection, and changes to be made on the assumptions side until it balances with the projection for the business.

The financial plan should also include how the business plans to generate income and the capital expenditure budgets that tend to eat into the budget to arrive at an accurate cash flow projection for the business.

Base your financial goals and expectations on extensive market research backed with relevant financial statements for the relevant period.

Examples of financial statements you can include in the financial projections and assumptions section of your business plan include:

• Projected income statements
• Cash flow statements
• Balance sheets
• Income statements

Revealing the financial goals and potentials of the business is what the financial projection and assumption section of your business plan is all about. It needs to be purely based on facts that can be measurable and attainable.

11. Request For Funding

The request for funding section focuses on the amount of money needed to set up your business and underlying plans for raising the money required. This section includes plans for utilizing the funds for your business's operational and manufacturing processes.

When seeking funding, a reasonable timeline is required alongside it. If the need arises for additional funding to complete other business-related projects, you are not left scampering and desperate for funds.

If you do not have the funds to start up your business, then you should devote a whole section of your business plan to explaining the amount of money you need and how you plan to utilize every penny of the funds. You need to explain it in detail for a future funding request.

When an investor picks up your business plan to analyze it, with all your plans for the funds well spelled out, they are motivated to invest as they have gotten a backing guarantee from your funding request section.

Include timelines and plans for how you intend to repay the loans received in your funding request section. This addition keeps investors assured that they could recoup their investment in the business.

12. Exhibits and Appendices

Exhibits and appendices comprise the final section of your business plan and contain all supporting documents for other sections of the business plan.

Some of the documents that comprise the exhibits and appendices section includes:

• Legal documents
• Licenses and permits
• Credit histories
• Customer lists

The choice of what additional document to include in your business plan to support your statements depends mainly on the intended audience of your business plan. Hence, it is better to play it safe and not leave anything out when drawing up the appendix and exhibit section.

Supporting documentation is particularly helpful when you need funding or support for your business. This section provides investors with a clearer understanding of the research that backs the claims made in your business plan.

There are key points to include in the appendix and exhibits section of your business plan.

• The management team and other stakeholders resume
• Marketing research
• Permits and relevant legal documents
• Financial documents

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Martin luenendonk.

Martin loves entrepreneurship and has helped dozens of entrepreneurs by validating the business idea, finding scalable customer acquisition channels, and building a data-driven organization. During his time working in investment banking, tech startups, and industry-leading companies he gained extensive knowledge in using different software tools to optimize business processes.

This insights and his love for researching SaaS products enables him to provide in-depth, fact-based software reviews to enable software buyers make better decisions.

Business Plan Mind Map Template

Organize your strategy for success with the business plan mind map template.

Trusted by 65M+ users and leading companies

About the Business Plan Mind Map Template

The Business Plan Mind Map Template is valuable for simplifying and creating a comprehensive business strategy. This template organizes thoughts, ideas, and data in a visual format, which makes it easier to understand the various components of a solid business plan. It acts as a roadmap to guide you in developing a business strategy systematically.

The template itself is structured to cover all critical areas of a business plan. It includes sections such as Executive Summary, Market Analysis, Marketing Plan, Operations Plan, Financial Plan, and more. Each section is represented as a branch of the mind map, allowing users to expand and explore individual topics in depth. By breaking down the complex business planning process into manageable segments, the template makes it easier to focus on specific aspects, ensuring no critical element is overlooked.

How to use the Business Plan Mind Map Template in Miro

Utilizing the Business Plan Mind Map Template is straightforward and user-friendly. Here's how to get started:

Begin by editing the central node to reflect the main focus of the business plan.

Expand each branch to delve into specific areas of the plan. This can be done with just a few clicks, making adding, removing, or rearranging elements effortless.

Leverage the automated mind mapping features to effortlessly add more branches and sub-branches, ensuring a comprehensive exploration of each section.

Enhance the mind map by adding artifacts like images, documents, and links directly onto the board, providing additional context and information.

Miro's intuitive approach to mind mapping simplifies creating a detailed and compelling business plan.

Why should you use a Business Plan Mind Map Template?

There are several key benefits to using a Business Plan Mind Map Template:

Enhanced Clarity : It visually organizes complex information, making it easier to understand and communicate the business strategy.

Efficiency : Saves time by providing a structured approach to planning, reducing the likelihood of overlooking essential elements.

Flexibility : Easily adaptable to different business models and strategies.

Collaboration : Facilitates teamwork by allowing multiple users to contribute and view the plan in real time.

Creativity : Encourages innovative thinking by visually linking related ideas and concepts.

If you want to learn more and improve your mindmapping skills, take a look at our guide to mind mapping . If you'd prefer to start from scratch, Miro's mind map maker is the perfect tool to help you get started, with its easy drag-and-drop nodes functionality to help you structure your ideas.

Can the template be customized to fit specific business needs?

Yes, the template is highly customizable. Users can add, delete, or change sections tailored to their business requirements.

Get started with this template right now.

Cross-Account EC2 Status Monitoring for HPC Clusters Template

Works best for:.

The Cross-Account EC2 Status Monitoring for HPC Clusters Template provides a centralized view of the health and performance of EC2 instances across multiple AWS accounts. It helps in early issue detection, reducing downtime and ensuring optimal efficiency of HPC clusters. The template offers customization options to meet specific HPC cluster configurations, simplifying monitoring and improving operational efficiency for administrators.

Diagramming

The BPM (Business Process Management) template is a visual tool for modeling, analyzing, and optimizing business processes. It provides a structured framework for documenting process flows, identifying bottlenecks, and improving efficiency. This template enables organizations to streamline operations, enhance productivity, and drive business performance. By promoting process transparency and agility, the BPM template empowers teams to achieve operational excellence and deliver value to stakeholders.

20/80 Process Diagram - EOS Compatible

The 20/80 Process Diagram - EOS® Compatible template is a visual tool for mapping out processes and workflows aligned with the Entrepreneurial Operating System (EOS®) methodology. It provides a structured framework for identifying core processes and key activities that drive business outcomes. This template enables organizations to streamline operations, clarify roles and responsibilities, and enhance accountability. By promoting alignment with EOS® principles, the 20/80 Process Diagram empowers teams to achieve organizational excellence and drive sustainable growth.

AHA! Moment Flowchart

Mapping, Flowcharts

The AHA! Moment Flowchart template offers a visual tool for mapping out the journey of users or customers and identifying key moments of realization or insight (AHA moments). It provides a structured framework for documenting user interactions, emotions, and pain points throughout their journey. This template enables teams to understand user experiences, identify opportunities for improvement, and enhance product or service offerings. By promoting empathy and customer-centric design, the AHA! Moment Flowchart empowers organizations to create meaningful and impactful user experiences effectively.

5-Set Venn Diagram

Venn Diagram

Analyze complex data with the 5 Set Venn Diagram template. This tool allows you to compare and contrast five different sets of data, highlighting intersections and unique elements. Perfect for in-depth data analysis, research, and strategic planning. Ideal for analysts, researchers, and educators looking to present comprehensive data insights in a clear and visual manner.

Strategic Group Mapping Template

Mapping, Strategy

The Strategic Group Mapping Template is a cutting-edge visual tool designed to translate the competitive landscape of their industry. By allowing users to plot entities based on distinct criteria, this template provides an at-a-glance view of market dynamics. One standout benefit of using this tool is its ability to identify clusters of competitors and market gaps, paving the way for businesses to strategically position themselves for optimal success.

Business Plan Mind Map Template

Visualize a business plan mind map using business plan mind map template from Venngage.

• Design style modern
• Colors light
• Size Letter (11 x 8.5 in)
• File type PNG, PDF, PowerPoint

A Business plan mind map template allow you to keep all your information in one place, which lets you easily visualize how everything fits together. They promote good time management because you can see at a glance exactly what needsThis is a mind map template for writing a business plan. Fill out the various sections of the mind map with your business information. A business plan mind map template is a mind map template for writing a business plan, which can be used by anyone to create their own business plan. Learn how to create a beautiful business plan mind map using the Venngage business plan mind map template. You don't need to be a designer, have design experience, or download any design tools to customize an infographic for your blog. Simply customize this business plan mind map template, you'll be able to create an business plan mind map for your own in no time! To get started with this business plan mind map template, simply click the """"create"""" button. Every element of the editor, from font styles and icon styles to

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What Is a Business Plan?

Understanding business plans, how to write a business plan, common elements of a business plan, the bottom line, business plan: what it is, what's included, and how to write one.

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master's in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem.

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A business plan is a document that outlines a company's goals and the strategies to achieve them. It's valuable for both startups and established companies. For startups, a well-crafted business plan is crucial for attracting potential lenders and investors. Established businesses use business plans to stay on track and aligned with their growth objectives. This article will explain the key components of an effective business plan and guidance on how to write one.

Key Takeaways

• A business plan is a document detailing a company's business activities and strategies for achieving its goals.
• Startup companies use business plans to launch their venture and to attract outside investors.
• For established companies, a business plan helps keep the executive team focused on short- and long-term objectives.
• There's no single required format for a business plan, but certain key elements are essential for most companies.

Investopedia / Ryan Oakley

Any new business should have a business plan in place before beginning operations. Banks and venture capital firms often want to see a business plan before considering making a loan or providing capital to new businesses.

Even if a company doesn't need additional funding, having a business plan helps it stay focused on its goals. Research from the University of Oregon shows that businesses with a plan are significantly more likely to secure funding than those without one. Moreover, companies with a business plan grow 30% faster than those that don't plan. According to a Harvard Business Review article, entrepreneurs who write formal plans are 16% more likely to achieve viability than those who don't.

A business plan should ideally be reviewed and updated periodically to reflect achieved goals or changes in direction. An established business moving in a new direction might even create an entirely new plan.

There are numerous benefits to creating (and sticking to) a well-conceived business plan. It allows for careful consideration of ideas before significant investment, highlights potential obstacles to success, and provides a tool for seeking objective feedback from trusted outsiders. A business plan may also help ensure that a company’s executive team remains aligned on strategic action items and priorities.

While business plans vary widely, even among competitors in the same industry, they often share basic elements detailed below.

A well-crafted business plan is essential for attracting investors and guiding a company's strategic growth. It should address market needs and investor requirements and provide clear financial projections.

While there are any number of templates that you can use to write a business plan, it's best to try to avoid producing a generic-looking one. Let your plan reflect the unique personality of your business.

Many business plans use some combination of the sections below, with varying levels of detail, depending on the company.

The length of a business plan can vary greatly from business to business. Regardless, gathering the basic information into a 15- to 25-page document is best. Any additional crucial elements, such as patent applications, can be referenced in the main document and included as appendices.

Common elements in many business plans include:

• Executive summary : This section introduces the company and includes its mission statement along with relevant information about the company's leadership, employees, operations, and locations.
• Products and services : Describe the products and services the company offers or plans to introduce. Include details on pricing, product lifespan, and unique consumer benefits. Mention production and manufacturing processes, relevant patents , proprietary technology , and research and development (R&D) information.
• Market analysis : Explain the current state of the industry and the competition. Detail where the company fits in, the types of customers it plans to target, and how it plans to capture market share from competitors.
• Marketing strategy : Outline the company's plans to attract and retain customers, including anticipated advertising and marketing campaigns. Describe the distribution channels that will be used to deliver products or services to consumers.
• Financial plans and projections : Established businesses should include financial statements, balance sheets, and other relevant financial information. New businesses should provide financial targets and estimates for the first few years. This section may also include any funding requests.

Investors want to see a clear exit strategy, expected returns, and a timeline for cashing out. It's likely a good idea to provide five-year profitability forecasts and realistic financial estimates.

2 Types of Business Plans

Business plans can vary in format, often categorized into traditional and lean startup plans. According to the U.S. Small Business Administration (SBA) , the traditional business plan is the more common of the two.

• Traditional business plans : These are detailed and lengthy, requiring more effort to create but offering comprehensive information that can be persuasive to potential investors.
• Lean startup business plans : These are concise, sometimes just one page, and focus on key elements. While they save time, companies should be ready to provide additional details if requested by investors or lenders.

Why Do Business Plans Fail?

A business plan isn't a surefire recipe for success. The plan may have been unrealistic in its assumptions and projections. Markets and the economy might change in ways that couldn't have been foreseen. A competitor might introduce a revolutionary new product or service. All this calls for building flexibility into your plan, so you can pivot to a new course if needed.

How Often Should a Business Plan Be Updated?

How frequently a business plan needs to be revised will depend on its nature. Updating your business plan is crucial due to changes in external factors (market trends, competition, and regulations) and internal developments (like employee growth and new products). While a well-established business might want to review its plan once a year and make changes if necessary, a new or fast-growing business in a fiercely competitive market might want to revise it more often, such as quarterly.

What Does a Lean Startup Business Plan Include?

The lean startup business plan is ideal for quickly explaining a business, especially for new companies that don't have much information yet. Key sections may include a value proposition , major activities and advantages, resources (staff, intellectual property, and capital), partnerships, customer segments, and revenue sources.

A well-crafted business plan is crucial for any company, whether it's a startup looking for investment or an established business wanting to stay on course. It outlines goals and strategies, boosting a company's chances of securing funding and achieving growth.

As your business and the market change, update your business plan regularly. This keeps it relevant and aligned with your current goals and conditions. Think of your business plan as a living document that evolves with your company, not something carved in stone.

University of Oregon Department of Economics. " Evaluation of the Effectiveness of Business Planning Using Palo Alto's Business Plan Pro ." Eason Ding & Tim Hursey.

Bplans. " Do You Need a Business Plan? Scientific Research Says Yes ."

Harvard Business Review. " Research: Writing a Business Plan Makes Your Startup More Likely to Succeed ."

Harvard Business Review. " How to Write a Winning Business Plan ."

U.S. Small Business Administration. " Write Your Business Plan ."

SCORE. " When and Why Should You Review Your Business Plan? "

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What is a business plan, why should you use a business plan, for business growth, achieve business’ milestones, help in getting funding, for future improvements, no wrong way of writing a business plan, what are the key components of a business plan, how to create your own business plan the best practices, why edrawmind, related templates.

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What is a business roadmap? Best practices to achieve your business plan

Last updated: March 2024

A business (or company) roadmap is a tool that outlines the direction you will take to achieve your business plan and meet your long-term strategic goals. Company and product leaders use business roadmaps to communicate an organization's vision and plans at every growth stage — from early-stage startup to established enterprise company.

This custom roadmap created in Aha! Roadmaps shows business goals and initiatives, success metrics, and progress.

Build your own roadmap

Business roadmaps can help organizations of all sizes scale and innovate. Regardless of industry or market, these are essential tools that help everyone in the organization understand key objectives, communicate status, and take action. This guide offers definitions and best practices to help you learn about what goes into creating a business roadmap. The details of your own roadmap will differ based on the unique facets of your company, but there are universal elements that apply to any business.

Use the following links to jump ahead to a specific section:

What is the purpose of a business roadmap?

Business plan vs. business roadmap: what is the difference, what to include on a business roadmap, how to build a business roadmap, who uses a business roadmap, types of business roadmaps, get started with a business roadmap template.

A business roadmap helps you visualize exactly what needs to happen — and when — to transform a company’s vision into reality. You can lay out what will happen in a given month, quarter, or year (or whatever timeline you prefer for visualizing when you will achieve your goals). A business roadmap is flexible by nature. It can be as detailed or abstract as you need it to be depending on the business's maturity and the size of your team.

You might be wondering about the differences between business roadmaps and business plans. If you already have a defined business plan, why do you need another planning tool? To make things more confusing, some people even refer to your business plan as a type of roadmap.

Although there are some areas of overlap between a business plan and a business roadmap, there are also critical distinctions. Let's take a closer look at each tool and what makes them different.

• Roadmapping: Your starter guide
• How to build a brilliant roadmap

Vision vs. mission vs. strategy

A business plan is a detailed foundational document that is generally created at any company's outset. It is essential to running a business and is especially useful for new companies. More established businesses benefit from updating their business plans or creating new ones when expanding into new markets or developing offerings that fundamentally change how their businesses operate.

Here is what you should know about a business plan:

Now, let's focus on a business roadmap. A business roadmap is a visualization of specific aspects of your business plan in a given time frame. It contains active and upcoming work at a high level and is a helpful way to gauge how well the company is tracking toward achieving its business plan.

Broadly speaking, your business roadmap should include the most important strategic plans across the company. This includes goals, initiatives, and major themes of work from cross-functional teams. Because you will likely need to adjust your roadmap over time, be sure everything you add to it deserves to be there. The more you add to your roadmap, the more difficult it can be to change course when new opportunities arise.

You might find that you create a few roadmaps concurrently. For example, you could create a long-term roadmap that covers all aspects of business planning over the next three to five (or even 10) years. This might include high-level forecasts for revenue, marketing and sales, staffing, and operations — as well as new products or services you plan to develop.

Then, you could have a shorter-term business roadmap, either a year or six months at a time. This roadmap might include corporate-level goals and initiatives as well as those of specific functions. You want to show how the entire company will work toward overall business objectives.

To truly benefit from this adaptive style of planning, it is helpful to have all teams working within a shared strategic planning tool like Aha! Roadmaps . Because planning data is updated in real time, every roadmap that the team sees will automatically show progress as it happens. This aligns the organization around what you will achieve and provides clarity into how you will work together to do it.

Creating a business roadmap should be part of your strategic planning process. Most successful companies follow a goal-first approach to roadmapping.

Set goals: Establish what you want to achieve, from revenue to hiring.

Gather information: Seek input from organizational leaders and research your market.

Organize into themes: Identify patterns in your inputs.

Prioritize initiatives: Use those themes to define initiatives, making sure each one supports a specific goal.

Add time frames: Forecast resourcing and evaluate when each initiative would need to be completed.

Review and revise: Evaluate your progress against the roadmap often so you can spot challenges and adjust as needed.

As you build your business roadmap, remember to keep your goals in mind. They should inform all of your plans.

Anyone with a vested interest in your company’s success will benefit from having access to some version of your business roadmap. Because a business roadmap visualizes the company’s goals and objectives, you can think of it as a blueprint that all stakeholders can rally around and follow. Here are some of the types of people and teams who can use a business roadmap:

Angel investors

Business owners

Consultants

Entrepreneurs

Marketing teams

Product managers

Sales teams

Startup founders

Venture capitalists

What is the best way to engage with each person? What information do they need to do their job well? What is superfluous? Use the empathy you built and seek to share what can help them succeed in their role. Alignment happens when you provide the right information at the right time. Brian de Haaff Aha! co-founder and CEO

Each functional group should have their own roadmap — from product management to marketing and IT . There might be times when you need different types of business roadmaps or different views for different audiences. Unlike a startup roadmap, these are geared toward more established companies. Here are a couple examples:

Business development roadmap: A business development roadmap outlines strategic expansion efforts. This would include things like new partnerships, sales channels, or market shifts.

Business intelligence roadmap: A business intelligence roadmap focuses on tracking and planning all business operations . This would include strategic efforts to affect performance, such as change management, process improvement, or adopting new technologies.

• What is the role of a product operations manager?

Objectives and key results (OKR) templates

Business roadmaps vs. product roadmaps

• What is an agile roadmap?

Templates help you repeat success, standardize work, and save time. Define your strategic planning process and create a format for your business roadmap that works for your company. Then, templatize it. Standardizing your business roadmap template will help reduce inefficiencies. When people do not have to guess at how to do their planning, they can spend more time on strategic thinking.

6 business model templates for product builders

100+ templates for every stage of product development

• Internal vs. external product documentation

Take a look at this roadmap template built on a whiteboard in Aha! software. You can easily customize the roadmap by adding your own goals, initiatives, milestones, and dependencies. This is a simple, lightweight way to get started with business roadmapping. For more robust roadmapping functionality, Aha! Roadmaps connects your visual plans to actual work. It also includes the whiteboard template below and many other dynamic roadmap views.

Start using this template now

FAQs about business roadmaps

What is the difference between a business roadmap and a business strategy?

A business roadmap is a visualization of your business strategy — a step-by-step, more tactical guide for how you will achieve a business plan. It ensures you can meet any long-term goals you set previously. And in particular, it involves your business's goals, initiatives , milestones , and dependencies .

A business strategy outlines how you approach your work in general. At Aha! we like to break it down into three components:

Foundation: This is where you define your strategic vision and tie it back to business models and positioning templates.

Market: The market includes your customer profiles as well as your competitors.

Imperatives: Imperatives bridge your overall strategy to the work you are going to deliver (i.e., your releases and features). In other words, imperatives link goals to the work items needed to reach them.

What is the difference between a business roadmap and a business vision?

Your business vision is all about defining what lies ahead. It covers why your company exists, where it is headed, and why you believe in that future. Because it impacts your culture, values, and strategic direction, it is important to map out this concept early on and adjust it whenever your future changes. On the other hand, a business roadmap conveys the near-term work you will do to achieve that long-term vision.

How often should you update your business roadmap?

Your business roadmap should be flexible enough that you can update it regularly and painlessly. As a general rule, you should adjust your roadmaps whenever your plans — and those plan details — happen to change. This keeps stakeholders aligned with what is happening throughout the organization in order to reach pre-defined goals.

If you already use Aha! software , we have some good news to share: Because changes you make to records in Aha! Roadmaps automatically update on your roadmap views, there is no work needed on your end to update any existing business roadmaps when plans shift. Everything happens in real time.

How should I plan my startup's first business roadmap?

The process of building a business roadmap is similar for startups and larger enterprises. Start by setting your goals and gathering insights from leadership and the market surrounding what your focus areas should be. You should then organize all of those insights into themes, prioritizing the initiatives that are most aligned with your goals. From there, add realistic time frames for completing each initiative and review your roadmap regularly to gauge progress and determine whether anything needs adjusting.

It is the actual content within a startup's business roadmap that will vary significantly. Both the goals and the work needed to get there will be much different from what you might see on a more established enterprise's roadmap. Rather than goals such as, say, launching an additional product line or expanding sales into a new country, an early-stage startup might aim to launch a Minimum Lovable Product and gain its first 50 customers. Startups seeking outside funding could set a goal to raise a specific amount of venture capital, whereas a bootstrapped startup might focus more on breaking into smaller markets and customer retention. No matter your startup's goals, though, they should appear on your business roadmap.

If you are curious about whether a product roadmap would work for your early-stage startup, try out this template . We also offer higher-fidelity business roadmapping options in Aha! Roadmaps that update automatically whenever your plans change.

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Business Plan Mind Map

As an entrepreneur, you will always need the right roadmap that will tell you how you make a progress to the goals that you have for your company. A  business plan is an excellent tool that will create your unique entrepreneurial roadmap to success.

You can make one when you want to expand your business. Also, you will work on your business plan when you want your business to stay on the right way. You can make one when you want to go through most important elements of your business and ensure that everything will be ok.

The First Tweak of My Business Plan – Business Model

In the last several years, I make several changes in the business planning process and business plan as a tool to implement and execute such a process. First, I start with the templates everyone used, and soon after starting the implementation, I found that I need something different.

Simply, I need something more, that I need to include in my business planning process. That is a business model. So, I include the separate section related to business model.

The Second Tweak of My Business Plan – Risk Management

As I gain more experience it continues to tell me that I need more details, especially in the risk areas and risk management . Because of that, I include that part in my business planning process and business plan normally.

The Third Tweak of My Business Plan – Online Strategy

How time goes on, I build more experience and again, my new experience with the implementation show me that I need something more. Because we can’t imagine today’s business without building an online presence, again I make tweaks to my business planning process and business plan. Now I include a separate section about online strategy including blogging and social media presence.

The Fourth Tweak of My Business Plan – Content Strategy

Again, I found that there is something that missed in my planning process. Because my business plan is a tool that I use every day to manage my business, I want desperately the support system for the online strategy. So, I implement the online strategy as a separate section in the previous tweaks. But, also I need the content strategy or something that I call content ideas that will contain publishing calendar, different content ideas, and responsibilities.

Now, that plan is much different from the usually used templates. It is much robust, but much more useful than what I have used in the past.

Here is the mind map created for the implementation of such a plan for your business. This is the latest version update.

Click on image for the full version, or download it here .

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