Write Your Business Plan

The actual document is a story describing the essentials about your business. Really, this is putting all your ideas down on paper so that either you can review progress over time or a potential investor such as a bank can instantly understand how you are going to achieve your financial projections and to assess the risk of lending you any capital.

The length of your plan should be as long as it takes to describe the following :

  • where are you now with your business
  • where do you want to take it
  • how are you going to get there

Simple questions that require detailed answers. Most plans that are submitted to a bank should only be around 20 pages because that should be enough to get the important aspects out. Additionally a bank or any other reader will probably concentrate on 2 elements. Your executive summary and your finances.

The summary is just that. It summaries everything from a description about your business, the products, your customers, your management team and your financial forecasts.

Most people when thinking about starting a business know they have to write a business plan because they have probably been told that by their bank manager. The main challenge they face is getting finance. How to approach banks and what they should ask. Once you have developed your plan you will have confidence in your business idea and how it’s going to achieve the objectives you have in your mind.

If you have ever watched “Dragons Den” you’ll get a rough idea of what it’s like asking for money. Although going to your bank manager is not going to be such an experience, certainly the question and answer section is similar.

When asking for money you’ll going to have to sell your business idea and yourself. It really is a sales exercise. In the Dragons Den programme there are so many simple questions asked by the potential investors that the business owners can’t answer.

Questions like – “how many sales will you make in year 3” or “what is your profit margin” or “how many customers are there in your market” or ” why is your price set at $xx”

When you are developing your business and your plan you will write all of this information down and when you do you, yourself, will go through some form of decision making process to come to the conclusions. There should always be a reason as to why you write something down. The reason you will explain to your potential investors. (If you haven’t seen Dragon’s Den then look it up on the BBC or search for it and watch one of the programmes)

Business Plan Is So Important

There are so many types of people in this world. A farmer may be need a truck rather than sports car. A single person may not need a van. There many car and trucks available in the markets. They fulfill all their costumer needs. But they have the same mission. Their mission is the get from Point A to Point B. It will take you where you want to be.

Same with business plan, your just want to get to Point B. There many different type of business that can get you to point B. So must you must improve your business to get you goal. Business plan will determine you progress. Without a plan, your business just like a blind person who didn’t know where to go and where are you at.

Focus on where you want to be rather that what should be your business vehicle. But you must consider to most efficient business that available. The choice is yours, you can have a cheap business vehicle that took you years to arrive at you goal or you may want to use a bit amount of money to guarantee your goal in a much shorter time.

Write your business plan now do not delay more time. Write it specifically, how much money you want, when you want it, who you need to help you, what you need to help you. Write everything that comes through your mind then make a decision what is important to do right away. Place you plan where you can read it everyday

Business Plan Resources

Action

A sense of Vision in the business has to be aligned and integrated with the Mission and Values of the business. Vision is the living out of the Mission and behaving in the right way. Vision is something you do. Vision is venturing out into a future that is unknown, and it is refined and understood more clearly only as it is enacted.

Remember, there are no futures in that sense, apart from the ones that we create for ourselves. We set out toward this envisioned future and act as if it were a reality, and in so doing, the Vision becomes clearer as we go and more likely to become so.

Listen and Observe

Creating Vision in the value-based business then is a process of discovery through action. The successful business owner and effective manager is always listening to and observing what is going on in their business in relation to the external world.

The Vision for the business, imparted with, through and for others, is the result of this ongoing process and a growing understanding of what the Vision means. All business activities being undertaken are sifted through the lens of Vision.

One of the highly valued qualities of good leadership is this ability to listen to all the voices, including customers and employees, and once having listened to them, determine the course of action that must be taken in a decisive way.

Hone and Evaluate

As the Vision is enacted and used as a filter for discernment and determining new courses of action, the Vision itself becomes clearer, more vivid and indeed more apparent.

The Vision for a business then is a dynamic reality that requires continual refinement, in light of initiatives that are executed in the business.

The sense of Vision in the successful, value-based business then informs all business policy development. The Vision in turn is informed by the unfolding nature of the business as it grows and develops.

It is critically important to review the words that encapsulate the Vision on a regular cycle to ensure that the words used reflect the true nature of the Vision of the business.

Reaffirm

The cycle of visioning in business never ceases. The envisioned future must be reinvigorated and reaffirmed, in light of actions taken, ongoing listening and observation and evaluation. In the value-based business, the Vision must be reaffirmed at least on an annual basis for it to maintain its freshness and relevance.

If this is not done, it will revert to just being another catchy marketing slogan, with no substance, that soon becomes obsolete and irrelevant.

The successful business owner is always focused on the Vision of the business and continually reaffirming commitment to it at every opportunity.