14 Mar 2008 02:11:36 | Dee Power and Brian Hill
1) Rome Wasn't Planned, Funded, and Built in One Day
****************************************************** The
process of putting together a coherent business plan will
probably take longer that you estimate (an incoherent business
plan on the other hand can take as little as 20 minutes). Along
the way you will probably stop and say, "you know, we haven't
really thought our strategies out very well, have we?" or "we
don't really know our competition as well as we thought we did,"
and you will take the time to hone your strategies and get up to
speed on the competition before you finish the plan and present
it.
2) Smaller Bites Are More Digestible
*************************************** Start the plan with an
outline. By breaking the large task down into smaller
components, the task will not seem as daunting. A business plan
can be viewed simply as the answers to a series of questions.
3) Style Points Count, Too.
*************************************** The visual aspects of
the document should not be overlooked. Color charts, tables of
data to break up the text, paragraph headings, varying the
typestyles--all of these contribute to making the plan easier to
read, and to more clearly explain the business opportunity.
4) To Write A Plan, Read A Plan.
************************************** People who write novels
are generally those who have read many, many, stories. They
learn their craft by studying the works of their favorite
authors. You need to do the same thing. Look at examples of
business plans to get in your mind the writing style, the
sequence in which the ideas are presented, and the parts to a
plan. Sample plans are available on the Internet at sites
devoted to assisting entrepreneurs.
5) Pick A Section, Any Section
************************************* If you have never written
a business plan before, you may have difficulty getting the
project started. It will seem as though you have an awful lot of
blank pages staring back at you. To get the plan moving, start
with the section that is easiest for you, or of most interest.
6) Spend Quality Time With Your Plan.
************************************* People often underestimate
the effort and energy it takes to write a business plan. They
try to write it at night or when everything else at work is
finished, in other words, when they are mentally and sometimes
physically exhausted. A better approach is to write the plan
when you have energy available to put into it: go in early and
think and write for an hour before the phones start ringing.
7) First Drafts Are Always A Laugh.
************************************* The first draft of your
plan will undoubtedly resemble incoherent ramblings--jumbled
stream-of-semi-consciousness ideas that look nothing like what
you had hoped it would. Don't be disappointed or frustrated.
8) You Deserve A Break Today. *********************************
Put the draft away for a few days, come back to it fresh, and
begin revising and rewriting. Magically, after several more
revisions, the ideas will all come together and the language of
the plan will flow.
9) The Plan Is Your Baby--It Needs To Look Like You.
**************************************************** The
business plan should reflect the personality of your management
team, and the type of company you want to create. As the reader
goes through it, he/she should get to know the people involved
in the company, their vision, their objectives, and their
enthusiasm for the company and the industry. Tell the story of
your company in your own voice. A plan for a music production
company would look much different than a plan for a medical
device manufacturer.
10) Not Everyone Has A Flair For Fiction.
****************************************** Business plans are
essentially works of fiction--documents that talk about what you
imagine, plan and hope may occur in the future, not what has
already occurred. This type of writing is difficult for
everyone. You've heard of "writer's block". The problems you are
having keeping the words flowing are precisely the ones faced by
the great writers, except many of them have to keep going
because the publisher has given them a unreachable deadline and
they've already spent their advance, but you of course, having
read tip #1 Rome Wasn't Planned, Funded, and Built in One Day
have allowed plenty of time to finish the business plan--so
there's no reason to feel pressured. Right?
About Author :
Dee Power and Brian Hill are authors of "Attracing Capital From
Angels: How Their Money and Their Experience Can Help You Build
a Successful Company,"
http://www.AttractingCapitalFromAngels.com published by John
Wiley & Sons 2002 and "Inside Secrets To Venture Capital"
http://www.InsideSecretsToVentureCapital.com, published by John
Wiley & Sons 2001