I think I've cared
less about "how can I be more like XXX" than about just trying to do
what I think is fun, interesting, and right. Motto in life: Do
unto others what you would like others to do unto you. And
have fun doing it."
Linus Torvalds,
founder of Linux
How to
Write a Business Plan, One That Will Capture Real Financing
Deciding how to write a business plan depends on how comfortable you are
with a pen -- or a computer -- in front of you. Let's take a look at
some of the popular techniques.
Fill in the Blanks
A lot of people use a software program like Business Plan Pro. Basically the program asks you questions, and then formats your responses
into an outline.
Plusses: It's easy. It's inexpensive.
Minuses: It's not very creative. Every plan ends up looking
like every other plan. And it's still a huge amount of work. The program doesn't write the business plan for you; it just takes what
you write and formats it. Personally, I have found their financial
projection program very difficult to use.
How to Write a Business Plan with a Basic Outline
Take a basic outline like the one on this site (click here for a Business
Plan Template).
Add the information that seems right for your business. Take a look
at some of the language in
similar plans, and adapt it to suit your business plan. Put it
in a binder and submit it.
Plusses: This works well for a small business that doesn't need a lot of
money. There are usually enough ideas in the free business plans to
inspire nearly any new business.
Minuses: It takes a bit of personal creativity and discipline
to create a strong plan. Fortunately, most business owners already
possess these qualities.
How to Write a Business Plan with Real Punch
Those who need a strong business plan are likely to look to the ideas for a custom business plan. These are typically businesses
destined for venture capital or angel investment. This is
where the strongest writing skills and strongest presentation skills are
needed.
Without doubt, do everything you can on
your own. After all, you are the one who knows your business
best.
Sometimes there are parts of a business
plan that you may need assistance with, such as the financial
projections. Sometimes business people benefit from an outside
professional review of their business plan. That's fine.
Get all the assistance you need -- just don't lose control of it. Make sure that decisions impacting the future of your company are yours.
Steps to Writing a
Business Plan
Basically the process is to first
decide where you want to go, then:
Research
Write
Polish
... and re-do as needed until it's
right.
There are a million variations on the theme,
but all of them lead you to how to to essentially the same process on how write a business plan.
C.J. Ralph,
