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Courtesy of Bravenet
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Article
3 Steps to Help You Get
Started
Writing Your Business Plan
By Anne
Ramstetter Wenzel
Most
business owners understand that writing a business plan increases their
chances of running a profitable business that survives for more than a few
years. Less than half of
small businesses use a formal business plan, however, and many of those
plans are incomplete or outdated. Here are three tips that will give you a good solid start on
your business plan, and improve your chances of completing it
successfully.
Tip
#1: Make a date
with yourself, and put it on your calendar.
Schedule a series of business planning “meetings.” Choose the
same time and day(s) each week, or check your calendar and schedule
unused blocks of time for your business planning sessions.
Once you make an appointment with yourself, stick with it!
It’s easy to build momentum once you get started planning.
Your “meetings” should be scheduled at least once a week, or
you risk slowing your momentum. Don’t
cancel on yourself either! Once
you get on a roll, stick with it and you’ll avoid getting derailed by
your busy schedule.
Tip
#2: Find a good
template or outline to follow, preferably one with instructions or a
tutorial. Although every
business, and business plan, is unique, there are key sections of a
business plan that should be completed no matter what type of business
you run. Generally, your
business plan should include 7 main sections:
an executive summary, mission statement, company history and
description, market analysis, marketing plan, management summary and
personnel plan, and financial statements.
A few good online sources for templates and guidelines for
writing your business plan are:
-
American
Express’ Small Business Network. Go to http://www133.americanexpress.com/osbn/tool/biz_plan/index.asp .
The "Creating an Effective Business Plan"
article is a workshop that provides descriptions and
instructions for seven sections of your business plan, along with
worksheets to help you write your plan.
Tip
#3: Define what
your company is really offering to your customers.
Start by describing the features of your products or services,
but then take it a step further: Think
about and explain exactly what problems your company helps customers
solve, or how you make your customers’ lives happier, more profitable
or more fulfilling. Once
you understand the benefits your company has to offer, you have the
insights and knowledge you need to write your product or services
description section, your market analysis and your mission statement.
Although you may start a business for selfish reasons (e.g., you
want to work independently, set your own hours, work at home near your
children, or control your own destiny), ultimately your business exists
for one reason only: to provide goods or services that solve your customers’
problems or help make them happier.
Completing
the three simple steps outlined above will give you enough to write a
mini-business plan, including your mission statement, a description of
your goods and services, who your choice customers are and what benefits
you provide for them. If
you continue to keep your business planning “dates” with yourself,
you’ll have a solid foundation for filling in the rest of your
business plan template. Some
sections will be more difficult to write than others:
Don’t be afraid to ask for business planning help from your
local small business development counselor, accountant, a market
researcher or other business owners who have been through the process.
You might even enlist the help of a friend or relative to call
for information about your competitors.
But for now, no matter how uncertain you may be about the
business planning process, scheduling time for business planning,
locating a good template to use, and really thinking about what
it is you have to offer your customers will move you far along business
planning process.
Econosystems
can help you
launch your dream business.
·
Do
you want help researching your markets and competition?
·
Need
help getting started writing your business plan?
Contact Anne Wenzel, owner of Econosystems,
for a free business planning consultation.
Call
1-866-200-9650, or e-mail awenzel@Econosystems.com,
to schedule your 40-minute complimentary consultation and receive a free
business plan template. You can begin researching your markets or
writing your business plan immediately.
Plan
for your business success, starting today!
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