A Successful Business Plan Process is Logical and Incremental
I encounter a lot of business owners who quickly get overwhelmed when preparing their business plans. When looking at the business plan process as a whole, it does appear arduous. Impossible to many! But if you simply break the business planning process down into simple steps, a building block process, it becomes much easier. I will go so far as to say it is enjoyable! This article has some great tips to get you going on your business plan.
You should put together a solid business planning process upfront. It is essential! The quality and scope of the process will determine the quality and effectiveness of the plan. Design it in parts and implement it in step by step sections, which build on one another. I like to start with the Company Section, then move on Management, then to Products and Services, then to the Marketing Plan, then the Strategic Plan, and finally the Financials, the Appendix, and last, the Executive Summary. This way the business plan builds on each section logically and incrementally, making the process much more achievable, effective and effectual. Once you have the various business plan sections laid out and the order of their development, then come up with the questions and requirements for each section. There are a ton of books and resources on the internet to help you brainstorm these, and then apply this information to your business. My Business Plan Book contains a prescribed and proven business planning process, along with all the requisite questions and requirements on a section by section basis.
Steady consistency is what it takes to with success complete a business plan. So you don’t get burned out and really enjoy the planning process, I suggest working on the plan a couple hours a day. Work on the plan first thing in the morning before you get busy with your business day. This way you have fresh cerebration, and you get it done for the day (i.e. it is not weighing on your mind all day). If you can work 3 hours a day on the weekends, it will be worth the effort. However, taking one day off a week from the planning to take a step back and reload is also preferable. Do what you can but don’t try to do it overnight. Consistency is what gets a plan done. systematically work on it daily for shortest periods of time, and your plan will be done in a timely manner. Inconsistency brings disaster in a business plan process.
A comprehensive business plan will usually be well over 50 pages and often is upwards of 100+ pages. Of course this depends on the scope, size and sophistication of the business, project or venture. For this comprehensive plan, it is a very simple task to form up the shorter, targeted ancillary business plans, such as a funding business plan. Targeted ancillary business plans are by and large 20-25 pages in length. This brevity forces you to decide what is really most vital and important in the business plan for the particular audience reading the plan.
Business Plan Model is critical for a company. You can use a business plan as a roadmap to business success; to obtain financing for the company; or to attract the perfect business partnership or joint venture. You can find more help about successful business planning by visiting Business Plan Consultants. Frankie Goleey (Frank) is a highly experienced business turnaround expert, and he is author of a business plan book. Frank also writes the business success blog, and he has also written over 170 articles on business success.
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