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Becoming Wise - Wild & Free - Writing A Successful Business Plan - Part 2 - Do It In Steps
Copyright 2004, Rod Francis
So you've decided to write your own business plan because you
know the value that the experience will give you. With the
books and software that are out there today you can probably sit
down and complete the plan in a day or so, right? Plug in the
numbers, add the notes, write the whole narrative (story), print
it and get it out to the banks or investors.
If you can complete a plan in a day or so you are either an
expert, that has already done all of the research, or you are
heading for big trouble, because you have not done enough
research. If you are like most people you have a job, a family
and commitments that take up a lot of time. It would be
impossible to write a business plan that quickly, even if you
know your stuff. You have probably heard the old adage, "Rome
wasn't built in a day" well, neither was a good business plan.
To create a top quality business plan you need to research each
and every aspect as diligently as possible. Take your time and
think of everything, don't leave anything to chance.
That sounds like a lot of work and a long drawn out process.
How will you remember or even think of everything? How can you
keep track of what you have to research? If you have to set your
plan aside for a while, how will you remember where you left
off? You may get tired, bored and even careless in your efforts
because like most people you probably have Attention Deficit
Disorder when it comes to doing this type of work.
The answer is to do your plan in steps. A good guide book or
business plan software will ask you to complete work as you go,
one step at a time. You read a section, do some research on
the items(s) in the section and enter the information that you
discovered. This way you are focused on each item as you go and
never become overwhelmed. You will also be able to remember
where you were when you have to set the plan aside for a few
days, without having to re-read a novel. The process may still
seem long but if you concentrate on doing your plan in steps it
will be done before you know it.
This series of articles has been written in steps because most
people don't have the time to sit down and read a novel. You can
even do your financial projections in steps, which is where I
recommend that you start. Doing the projections will help you
analyse the feasibility of your project before you spend a ton
of time writing a complete plan that may or may not work for
you.
Look for the next article on Writing A Successful Business Plan
- Part 3 - "The Feasibility" of the Becoming Wise - Wild & Free
series.
Written by Rod Francis - President of Advantage Venture
Systems Inc. creators of the Venture Planning System(tm)
Pro business plan software @ www.VPSpro.com
Suite 207, #1-1081 Central Ave. N.,
Swift Current, SK Canada S9H 4Z1
Check for more articles on writing a business plan at:
http://www.vpspro.com/business_plan_articles.html
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