Some of the questions a growth business plan might ask you are: _ Are you comfortable that the market wants and is willing to buy your product or service? _ Is your product or service priced so it is competitive in your market? _ What's different about your product or service? Why would a customer purchase it over someone else's? _ Is your market big enough to support your business? What about 15 years into the future? _ If you wanted a better lifestyle, what would your business need to do to give you that lifestyle? _ How much sales would your business need to generate to give you that income? _ How much sales would your business need to generate to give you the income you want 15 years into the future? _ What will be the cost of your labor and material? _ What will your expenses run? _ How much will it cost to overcome the capacity constraints that will occur as your business grows to meet your income requirements _ Will your profit give you the income you want in the future and at the same time maintain a healthy business for you as well?
No_one Reads Business Plans _ Besides yourself while you're writing it, who are you expecting to read your shiny new 80 page business plan? An investor might pretend they've read it all but the chances are they'll only read the salient points. They could have established these anyway with a five minute conversation with you. If you ever have time to read your plan yourself after you've written it then you're probably not spending enough time actually running your business. You can refer back to specific sections, but these will probably be outdated and obsolete just weeks after you've written them. If you do refer back to it, the optimism you had when you wrote it might inspire you, until you realise the path your business has actually taken is nothing like what you planned. This isn't a failure on your part to follow the plan, it's often a good thing. Let me explain why in my next point.