Write My Business Plan
“Write my business plan” … Please. Is a phrase that I hear on almost a daily basis. A possible reason that I hear this phrase may be because I always wear a shirt that says “I Write Business Plans”. Another reason why I am inundated with requests to write business plans is because of the complexity of the process. With this said, a discussion about the various challenges of writing a business plan may help small business owners better understand the complexity and process of writing a business plan.
Before I dive into discussing how to write a business plan, novice entrepreneurs and small business owners should take into account that there really is no replacement for professionally prepared business plan. However, if circumstances dictate the need to write a business plan, here is a time proven process to follow.
Start Your Business Plan Small.
When I teach my entrepreneurship classes, I always tell my students to start small when writing their business plan. A great way to do this is to answer the questions: Who, What, Where, When and Why. By writing a paragraph responding to who will run the business, what the business is about, where the business will be located, when was organization started and why are you in business, entrepreneurs are able to get a good over view as to the totality of their business. Further, by writing in the structure, business plan writers will have a great executive summary to build off of.
Details, Details and Details.
Once a sound foundation is created by following the step above, the next step is to add details, details and in more details to your business plan. When doing this, make sure to set parameters for your writing. For example, common subsections in a business plan may include your executive summary, business description, target market, pricing strategy, financial statement review and numerous other sections that are outlined on the SBA website. By adding details to the structure, business plan writers are able to systematically fill out their set parameters with detailed information related to the business, competitors and other environmental factors that may impact your organization.
Set Time Aside for Writing.
Final important step in writing a business plan is to set time aside for writing. Business owners have a multitude of tasks that they need to do… yesterday. This always seems to lead to the problem that there is never enough time to write a business plan. This underlines a different problem, which is time management. Make sure to schedule time on a daily basis to write your business plan. By conquering time management, not only can you prepare a decent business plan, but the plan will be done in a systematic manner.
So, if we ever pass on the street, and you see me wearing my “I write business plans” shirt, inevitably, the thought of “write my business plan” may pop into your head. Please know, that I would be delighted to write a business plan for you. However, as time constraint or money is an issue, sleep well knowing that you are more than capable of writing a great business plan by following the steps above.
Author: Paul Borosky, MBA., ABD.
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