Business plans are an essential part of any business. In some cases, they are what ensures your success so they cannot be taken lightly. While many business owners understand the importance of a business plan not everybody knows how to organize one. In today’s post, we’re going to discuss how to organize a business plan.
Though you may know what you want the out come of your business to be, it’s sometimes difficult to get these thoughts down on paper. In order to
make this process easier, it’s helpful to divide it into smaller bites to organize better:
Set the Basics
The most important thing you need to do is to know what you want to achieve. Write down your goal, then break this down into smaller goals. This will help you to see everything that need to be done. Also, it will help you think about all of the possible steps you’ll need to perform in order to achieve your business goals.
The basics are the most important part of any business plan so take your time to think about it; this is not a race. Most people hire Business Plan experts to create their plans for them. If you don’t want to hire an expert, pay attention to the basics: the whole plan depends on this first step. In other words, you need to know what you want to get done.
Set the Structure
In order to complete your business plan, it’s important to know the who, when and what about your company. Who are the people involved? What do you want to achieve (as we talked about above). When does it need to be done?
These questions probably seem obvious, but may be completely forgotten when dealing with the stress of starting your company. Writing them down in the beginning, is the best way to ensure they will be answered later in the writing process.
Set the Timeline
The next step is to think about your time frame. You should already have an idea of when you want or need to have something done. Now it’s time to divide these tasks and see how much time each of the steps will take. Once you split all of the tasks into smaller chunks it will be easier to manage them all.
For every task, think of the time you’ll need to perform it. Don’t forget to add some additional time if you encounter problems; let’s call this wiggle room.
Set The Outline
In order to be able to present your business plan to your business coach (COACH?! Yes, you should have a coach AND you should show them your business plan before it goes on to banks or any other entity outside of your company. See my post about why you need a coach), it’s important to prepare a 2 to 3 page summary. This is information outlining all of the most important points.
This step is important because it’s the core of your business plan. It will make you think about the most important, essential things you want to get done and steps you need to take to achieve them.
The last step may seem like it’s a repetition, but it’s crucial to ensure your success. It’s important to REVISE your business plan before you use it. This is essential for catching any potential mistakes and errors. You need to do this before you implement it because it’s much more difficult to do once you have set everything in motion. Trust me; you won’t have much time to do it once your company is bringing business.
It’s also important to consult your mentor or business partner and ask them to review your business plan. Make sure to take their comments and suggestions seriously. If you are working alone, consider hiring an expert to go through your business plan and offer you some advice and suggestions.
I have a Starter Business Package that most start up companies take advantage of. Part of this plan is helping you write a business plan; whether it’s a quick plan or more standard business plan.
Remember: in order to succeed, it’s vital that your business plan is realistic, well organized and achievable.