How to Quickly Create A Great Business Plan
Thought you might be interested in the article How to Quickly Create A Great Business Plan and thought I’d share a few points with you here. I’ve found some relevant information here so if I find more, I’ll be sure to pass it on.
You know you need a business plan if you want funding. And you know you should have and follow a plan to grow your business.
Start at the End.
Before you write a single word of your business plan, think about where you’d like your business to be in 5 or more years. Think about how many employees you have, what your revenues will be, etc.
Then work backwards. Specifically, identify what you must accomplish this year to put your company on the trajectory to accomplish your long-term goals. Then break it down further. What must you accomplish this quarter and this month? Document these milestones in the Operations section of your plan.
Identify Why Your Business is Unique.
The best business plans start with two things. First is a concise explanation of your business so the reader can better visualize the opportunity. Second is an explanation of why your business is uniquely qualified to succeed.
Importantly, it’s hard to build a successful business when there’s nothing unique about your company, since at the first sign of your success, others will copy you. So, you should always be thinking about additional ways to make yourself unique. And once you identify these ways, add them as future milestones in your business plan.
Budget the Appropriate Time to Develop Your Business Plan.
Budgeting time, in many cases, is challenging since there are so many other tasks you need to complete in your business. But it must be done.
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