| Recently, a client-call her Jane- came in to discuss her | | | | uncertainty and tweaking that never leads anywhere. |
| lack of progress developing her business plan for her | | | | By the end of your business plan, you'll understand |
| coaching business. She was struggling to put words | | | | how the parts of your plan are connected. But |
| down on her plan because she wasn't able to focus | | | | between Feasibility and the end, blinders should be put |
| on the task at hand-completing her business plan and | | | | on as if you are working in a vacuum. So, if we go |
| launching her business with a strategy in place. She | | | | back to Jane's questions that arose at once, I would |
| found herself overwhelmed by the business planning | | | | tell Jane that she's going to know these answers |
| process. | | | | eventually, but don't try to answer all of them in the |
| Jane was making little progress because every time | | | | beginning. |
| she sat down to write, her mind would wander to | | | | This is the big source of frustration when writing a |
| certain questions like: | | | | business plan. Because all the parts (competition, |
| Do I have enough training to be an expert on the | | | | company resources, marketing, business model, |
| matter? | | | | work-life balance) are tangled, many people writing |
| How will I use social media to market my | | | | become overwhelmed trying to push the metaphorical |
| business? | | | | levers up and down, trying to brainstorm, research, |
| Do I want to risk my savings? | | | | interconnect concepts, and complete business plan |
| What kind of coaching business should I have? | | | | sections all at once. |
| When should I start blogging or writing articles to | | | | A course of action that exacerbated Jane's frustration |
| build a following? | | | | was her skipping Feasibility, which consists of basic |
| Do I develop a blog/website? | | | | questions about her business and personal goals. |
| Who's my customer? | | | | Instead of working through Feasibility, and then building |
| Who's my competition? | | | | upon it through a structured process, she filled in a |
| How is my life going to be different if I open this | | | | business plan template with "answers to questions". |
| business? | | | | Without having a purpose of the business (and her life), |
| How will I make money? | | | | she was starting the process without any sense of |
| Business planning tends to overwhelm a large | | | | direction. It's like designing a house with no idea who is |
| percentage of those writing. Truth be told, it's not easy | | | | going to live in it or where the house is located. The |
| to move from business conception to business launch. | | | | lack of context and direction will lead to disaster. |
| Jane's case is typical of those who spin their wheels | | | | Jane-a registered nurse-described how she envisioned |
| and never get past a rough business plan outline. | | | | the business planning process would be when she |
| An aspiring Solopreneur will be flooded with questions | | | | started the course. "In nursing, we ask the patient a |
| to answer and choices to make when they are | | | | few questions then put the symptoms in a computer. |
| designing their business. These questions are difficult to | | | | The computer analyzes the symptoms and then spits |
| answer because by answering one question, it has | | | | out a diagnosis. I don't have to think that much. I thought |
| implications that effect another question. These | | | | writing a business plan would be like this, where you |
| questions come in waves. There seems to be little one | | | | show us where to fill in some information and then the |
| can do to slow the torrent of inter-connected | | | | business plan would come together." |
| questions that appear to be needed to be answered | | | | I wish it were that easy! |
| simultaneously. Like any decision you make with many | | | | Business plan writing-as you probably have figured |
| variables, you must consider the "moving parts." | | | | out-isn't like a computer program that spits out the |
| I used to watch the Simpsons in the 90s and recall | | | | answer. You don't go through a series of steps to |
| Homer Simpson sitting at his desk in the Springfield | | | | arrive at a magic formula that will make you a happy |
| Nuclear Plant. Homer's responsible for managing some | | | | millionaire. The interconnections between the moving |
| sort of equilibrium so that the nuclear facility doesn't | | | | parts require you to think and make decisions |
| blow up. How does he do it? In the cartoon's wry | | | | throughout the whole process. |
| sense of humor, it's as easy as moving a few levers | | | | The system I teach my students-a system that this |
| up and down. | | | | student had not followed-is based upon answering |
| If radiation goes up, Homer will need to pull lever A | | | | questions at certain times in the business plan process |
| down. But, when Homer pulls lever A down, the heat | | | | and staying disciplined to the system. This will |
| will rise. To lower the temperature, Homer needs to | | | | discourage you from trying to answer all of them at |
| push lever B up. But, in doing so, the radiation goes | | | | once (by moving levers up and down to solve |
| back up and the pressure will build. You get the picture: | | | | everything simultaneously). |
| all the elements in the factory are inter-connected. By | | | | You'll define in detail each moving part at distinct times |
| taking course on one factor, another factor of your | | | | of the business plan writing process. In another entry, I'll |
| business will be affected, making it hard to move | | | | briefly go over what business plan questions to |
| forward. You will to be in a constant state of | | | | answer when. |