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BEFORE
YOU PLAN
Physically putting a
business plan together requires you to translate your
thoughts about how you're going to run your business
(and how it will perform) into a format that is
dictated, in large part, by the business you're in and
the expectations of your audience. While most business
plans share a similar structure and contain similar
information about a business, your business plan will be
distinguished by those characteristics that are unique
to your business. Just as each person's resume differs
because it reflects the particular life experiences of
that individual, each business plan will differ. But the
format makes it instantly recognizable as a business
plan.
The following are the key issues you need to examine
before you can actually start to write your plan:
Audience: whom are
you writing for? If you are writing for third parties
outside of your business, their needs and expectations
will govern the type of information and level of detail
in your plan. Your neighborhood banker is going to be
far more concerned with the financial performance of
your business than with the salary structure you plan
for your employees.
Planning horizon:
how far out into the future will your plan extend?
Type of business:
your business's classification as a service provider,
product producer or seller, or mixed provider of
products and services will have a large impact on the
type of information in your plan.
Sources of information:
What information is available to you in creating a
business plan? How can you reduce the time and effort
required to analyze your idea?
Reasonable assumptions:
How can you set yourself up for success by taking a
realistic look at internal and external conditions of
your business, so as to make reasonable predictions
about the future?
Next
- Writing Your Plan |
