How to Prepare Your Business Plan Using a Step by Step Process
As a Business Plan Writer, I come across a lot of clients who simply get overwhelmed in developing and penning their business plans. If you look at the business planning process in totality, it can seem like a daunting task. However, if you break it down into a step by step, building block process, you will find it becomes a much easier process. Here are some tips to help…
Developing a Business Plan is Not a Sprint – It’s More of a Marathon
It takes steady consistency to complete an effective business plan. So you don’t get burned out and really enjoy the planning process, I suggest working on the plan a couple hours a day. Work on the plan first thing in the morning before you get busy with your business day. This way you have fresh mentation, and you get it done for the day (i.e. it is not weighing on your mind all day). If you can work 3 hours a day on the weekends, it will be worth the effort. However, taking one day off a week from the planning to take a step back and reload is also preferable. Do what you can but don’t try to do it overnight. Consistency is what gets a plan done. systematically work on it daily for shortest periods of time, and your plan will be done in a timely manner. Inconsistency brings disaster in a business plan process.
Having a Good Business Planning Process is an Absolute Requirement
You should put together a solid business planning process upfront. It is essential! The quality and scope of the process will determine the quality and effectiveness of your business plan. Design it in parts and implement it in step by step sections, which build on one another.
Breaking the Business Planning Process into Sections
In my Business Plan process, I like to start with the Company Section, then move on Management, then to Products and Services, then to the Marketing Plan, then the Strategic Plan, and finally the Financials, the Appendix, and last, the Executive Summary. This way the business plan builds on each section logically and incrementally, devising the process much more achievable, effective and efficient.
Each Business Plan Section Needs a Set of Requirements and Questions
Once you have the various business plan sections laid out and the order of their development, then come up with the questions and requirements for each section. There are a ton of books and resources on the internet to help you brainstorm these, and then apply this information to your business. My Business Plan Book contains a prescribed and proven business planning process, along with all the requisite questions and requirements on a section by section basis.
About The Writer – Frank Goley
Frank Goley works for small and medium size companies in the capacity as an experienced business advisor, business turnaround consultant, business plan expert, business plan writer, business coach, small business consultant, business planner, marketing consultant, online marketing consultant, seo consultant, and business plan consultant for ABC Business Consulting. Frank is considered an expert in writing, developing and implementing business plans, business turnaround plans, funding business plans, marketing plans, strategic plans and web marketing plans. Frank offers comprehensive business consulting, business coaching, business turnaround consulting, along with web seo, web development and web marketing consulting, to small and medium size companies. Frank is the author of a business plan book, The Comprehensive Business Plan Workbook – A Step by Step Guide to Effective Business Planning, and he has over 50 published articles and e-books on business success strategies. He also writes the Business Success Strategies Blog and publishes the Business Success Newsletter.
