Are you starting a business? Have you been running a business but have been “winging it” because you’ve never taken the time to write a business plan? If you’re running a business without a business plan you’re not alone. How to write a business plan is something we work with our clients to make happen.
When you have a business plan — and it doesn’t need to be a 100 page document — you have a roadmap toward future success and growth.
How To Write A Business Plan
Don’t be afraid of a business plan — even if you’ve never written one. We’ve put together a few simple steps that can get you on your way toward writing a business plan.
- Perform research. In order to write your business plan you need to understand your business and the industry in which you’re operating in and out. Understand your industry and every aspect of your business so intimately that you can answer an investor’s question with no hesitation.
- Know what you don’t want to do as much as what you want to do. Know your limitations and the limitations of the goods and services you will provide. Don’t think you can be everything to everyone. Choose a niche and laser focus on that. What have you seen others do that you have said, “I will NEVER do that!” or what have you seen that you think, “I definitely want to do that, but differently.”
- You can use business plan software or simply pull up a Word or Google doc or a piece of paper and a pen. The software you use doesn’t matter as much as getting the plan down on “paper.”
- Don’t forget the visuals. If you have visuals you can share in your business plan to share the information you’re putting into it — do so. Visuals are more intriguing to a reader than is a “wall of words.” What relevant images can you find to add into your business plan?
- Make your business plan adaptable for the audience with whom you will be sharing it. Think of your business plan as your resume or elevator speech. Pick and choose relevant items and share that with the audience you’re in front of. Not all audiences want to hear your entire business plan.
Start a business right — with a busines plan. If you don’t know where to begin, reach out to us, we can help.