"Writing or Refining Your Business Plan

Yuck.  This is what I think when the words Business Plan are mentioned.  Everyone says that you need one, but where do you start? Why do you actually need one, anyway?  Besides, I'm much to busy running my business.

Why You Need A Business Plan

You have a business and you want to make money.  The business plan answers the questions "what is your business and who are your customers?" and "How are you going to make money and how much?"   A few other questions are answered also, but these are the main ones.  A business plan helps you to understand your market, your product, your customer, and your future.  All very important things to the direction of your business.

Can you make it without one?  For a while, yes.  At some point you will know that your business needs direction and goals.  It will also be painfully necessary when you go to your bank for a loan.   Better to have a plan before starting your business, but now is always a good time to start.

The Process

My company did it the wrong way.  We started the business using our best guess and a lot of luck.  Now I've completed the 12 week process and am almost done with the plan. I had to do a lot of things I didn't want to do (like call my competitors and try to learn about their company) but now I know that I am much better informed. The class that I took also put me in touch with a number of new leads and other new business owners. Some of these businesses are using my services. This alone will pay for the money that I spent on the course.

What parts are in a business plan? Find out what the recommended parts to a business plan are by clicking on this link.

Local Resources

I decided to take a class through a private foundation, but there are other resources for writing your plan.  First, visit your local library and check out some books on business plans, and sample business plans.   These books will give you a starting point.  Second, contact your local SCORE office for free information and classes about writing business plans.  These services are free and are a wealth of information from retired executives that just want to help you out.  Third, you could hire a business consultant to help you write the dreaded article.  I really don't recommend this, there is much to be learned from this exercise.  Fourth, you could buy a software program to help give you structure to your written document.