If you’re serious about starting a business, then at some point you’ll need to get down to writing a business plan. Let’s do it right by preparing some things in advance.
Understanding The Purpose of a Business Plan
For a start, ask yourself this: What is a business plan? Of course, you’ll do your research, but also try to truly grasp its purpose.
In a nutshell, that’s a a document in which you present the goals you set for your business, where it will be some time from now, and how you plan to get there.
Creating a business plan is something you can’t go without. So here are some business plan tips to help you out when writing it:
5 Tips for Writing a Business Plan
1. Sit down and define the why behind your business.
That includes answering the following questions honestly:
- Why did you enter that industry;
- Did you start doing this because you’re passionate about it;
- What problem are you solving;
- Who’s your audience;
- How can you help your target customer;
- Is providing value more important to you than money;
- How do you define business success;
- Are you in this for the long game?
All that shapes your business intent, your own motives, and is also a big part of your business plan. If you did a good job answering these clearly, you won’t have a hard time creating the executive summary and business description. Both of which are key moments of writing a business plan.
2. Check out business plan examples.
The web is full of free templates on any subject. You can find plenty of business plan samples for free with a quick research.
Take a look at a few and see the key elements. That will give you an idea of what information you need, or what data you need to gather, or even what things you need to make clear for yourself, so that you can successfully write your own business plan soon.
3. Make an outline.
Just like a book needs to be outlined before creating the content, so it is with a business plan creation. Now that you know the main parts, organize them in the best way, write down a few points under each and see how the big picture looks.
Think of ways to upgrade it, either by categorizing a few things, or removing something if it seems unnecessary.
A business plan mistake is when it’s too vague, but also when you’ve included way too many details. So find the balance now, before actually writing a business plan.
4. Personalize the business plan.
How you cover all important points when writing a business plan also depends on the type of business you have.
For example, a small business plan will look one way, while a business plan for non profit organization will be different.
5. Keep it simple.
Such a tip can be heard in any area of life, simply because it all boils down to the stuff that matters.
So, when writing a business plan, stay away from complexity. Stick to the essentials and don’t try to add anything you can think of. Instead, make your strengths stand out.
Also, don’t use too long sentences or paragraphs. Make it easy to read. Yes, there will be numbers and the financial part isn’t exciting for everyone, but you can still make it a pleasant read by focusing on what the business can do for its customers. It should also reveal your personal values, and that will make it powerful.
Include visuals. That can be business charts to make the numbers look more interesting. Or tables to organize what you want to say about one aspect of the business.
Also have links to make it easy to get from one part to the next, a table of contents, and any other feature that makes navigation easier.
Writing a business plan can be fun too.
It will help you get clear about your message and mission and once again remind yourself why you started this in the first place.