Writing a business plan is indeed rather like having a Useful Pot and
having Something to put in it.
The Useful Pot is the structure of the business plan. All business
plans have essentially the same structure. Fortunately, they all
look different, and read differently, and present different ideas.
Imagine someone writing a business proposal to open a day care center to
serve the employees working in a few very targeted buildings. That
proposal would encompass all the elements of a typical business plan, such
as marketing, financial projections, biographical summaries, etc.
But, more importantly, this business plan would focus on the demographics
of the employees in the targeted buildings. Most importantly, it
would focus on the ages and family status of those employees.
Now suppose a day care center that had been in business for a few years
wanted to expand, with six additional facilities in neighboring towns.
The dynamic of the proposal immediately shifts. Now it becomes an
issue of (1) prior success, (2) expansion strategy and (3) management
ability to expand that dramatically.
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| Start out with a
7-Step Business Plan template. It's all in MS Word and
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That is the kind of dynamic that your business plan will create.
The very hardest part about writing a business plan is establishing that
initial focus.
What kind of business is this?
Describe it in one sentence.
It's not a bakery. It is a natural foods bakery.
It is a gourmet French bakery.
Who are the target clients?
Not everybody. Probably not everybody in a certain
age bracket even. Really focus it down. It may well be that
everyone within a ten mile radius is a potential client, but they are
not are in your core target market.
Knowing that core market is essential to success.
From the lender's perspective ...
What would you think if a total stranger came to you
with an idea for a business? What would you want to know
before lending that person money?
That is exactly the issue that all lenders and investors
are faced with every single day.
Your job is to make their job as easy as possible.
As we look at the various aspects of writing a business
plan, keep in mind the perspective of a total stranger.
This perspective is important even if you are going to a
banker that is familiar with you and your business. Few bank
managers make many decisions any more. It all goes "down town".
Who knows what is "down town"? It could be someone who knows you and
your industry. Or it could be a total stranger.
Err on the side of caution. Assume that it is a
stranger.
By the time this person finishes reading your business
plan, he should feel comfortable with your business and with your goals
for it. He should also feel comfortable with the fact that you are
the best person to tackle this business.
If you have accomplished that, you have accomplished more
than 99% of the business plans out there.
So let's go discover what to put into that Useful Pot ...
See
Definition
of a Business Plan. This is not a "document to raise money."
No, it's a great deal more.
Parts of a
Business Plan. Pull these components together, and you've got
a strong business plan.
Business Plan
Layout. It's a whole new world in business plan writing.
Give yourself the writing edge.
