How to Start Writing Your Plan _ What goes into a basic plan? Well, let's first define a basic plan as a plan for the bigger plan you will arrive at later on. Here are the essential questions you need to answer: What do you want to gain by writing this plan? Is this plan an internal plan which you will use to guide yourself or your team towards achieving specific and measurable targets? Or are you aiming to attract potential investors? Is this something you would like to take to the bank to propose a loan for your business? Begin by examining what your specific goal is for writing your plan.
Business Plans are a Distraction _ Depending on what sort of business plan you're writing it could take from a day to a week to write. That's valuable time you could be spending actually creating and trying out your business. I'm all for knowing exactly what you want from your business and creating one which supports the lifestyle you want. But let's not be getting goals and plans mixed up here. You should definitely have goals, and you should definitely be tracking your progress against them. However kidding yourself that you know at the very beginning exactly how you're going to achieve them isn't going to help, because you can't possibly know without experimenting first. Allow yourself to be flexible, experiment and work out what takes you to your goals the faster. That's a much better use of your time than writing a rigid plan that'll be out of date a week after you wrote it. I know my views on this might be a little controversial but I feel it's only right that I share my thoughts with you. The time you save by not writing a lengthly plan will allow you to concentrate on more important things, like making your business actually happen. Now my guess is, if there's one thing that's been annoying you the most as you read this it's probably that if your business needs external funding then you do need a business plan. I agree, if you have no choice then you have to create on, that's obvious. If this is the case for you then write whatever your potential investors want to hear, as long as it sounds realistic. Don't spend forever on it though because when your funding's in the bag you should put you business plan in your bottom draw and start the real work, figuring out what actually works and doing more of that.