| If you have been thinking about writing a business plan, | | | | funding, you don't need these things. The purpose of |
| you may feel overwhelmed with all the components | | | | writing a plan is in "planning" not creating the most |
| and sections you have to write. The key is getting | | | | perfect, aesthetically-pleasing work you can create. If |
| started. Your business plan will never be finished unless | | | | your business plan is just a series of bullet points, that's |
| you take action. Here are eight tips you need to know | | | | OK, as long as you know what it means. |
| to write your business plan. | | | | 5) Ignore your inner editor. As you write your first draft, |
| 1) Realize it takes time. Few businesses are overnight | | | | you may want to go back and correct sentence |
| successes. Most require a considerable amount of | | | | structure, spelling, and punctuation. Don't worry about |
| planning and hard work before they take off. Writing a | | | | these things initially. Get your thoughts down on paper. |
| business plan requires thinking through how you will | | | | Then, revise it later. |
| manage your day-to-day activities. Along the way, you | | | | 6) Give yourself adequate time. Don't underestimate |
| may realize you haven't thought much about how your | | | | the time and energy it takes to write a plan. Schedule |
| business will operate, what makes your competitors | | | | 30 or 60 minutes of uninterrupted time at the start of |
| successful, or how to best serve the needs of your | | | | each day to devote to writing. If you try to write your |
| target market. By working out these details, you can | | | | plan while exhausted or distracted, you may become |
| refine your strategies to focus on your highest-priority | | | | frustrated or overwhelmed. |
| activities. | | | | 7) Make it personal. Your plan should reflect your |
| 2) Create an outline first. Writing an executive | | | | enthusiasm and passion for starting this company. It's |
| summary or one-page overview of your plan will help | | | | your baby. Tell your story about why you want this |
| you crystallize what components you need to include. | | | | company to be a success. |
| Trying to tackle the entire plan in a few hours can be | | | | 8) Take a break before revising. After you complete |
| overwhelming. Instead, break the task into smaller, | | | | your first draft, put it away for a few days. When you |
| more manageable components. Think of your business | | | | come back to it, you will have a fresh perspective and |
| plan as answering a series of questions. Start with | | | | can create a more cohesive document. |
| one, then move on to the next. | | | | Keep in mind that your business plan is essentially a |
| 3) Start with the section that's easiest to write. What | | | | work of fiction. It's a document that captures your |
| section can you finish quickly? Which aspect of your | | | | vision for what your business will look like in the future. |
| business are you most interested in or passionate | | | | You aren't a fortune teller, so no matter how much |
| about? Knock that out first. | | | | effort you spend writing the "perfect" plan, some |
| 4) Don't worry about formal structure. A formal | | | | aspects of it will be wrong. That's OK. You don't have |
| business plan has plenty of charts, tables, | | | | to know everything now. As you acquire more real |
| spreadsheets and pictures. Unless you will be | | | | world data, you can revise your plan to better reflect |
| presenting your plan to investors or banks to obtain | | | | your reality. |