Writing a business plan can be an overwhelming task. Here's how to make writing a business plan a little easier.
Don’t try to write the business plan in one day or even in one week. Break the task into smaller chunks and set a realistic timetable to establish those tasks. 30 days is a reasonable amount of time to write a business plan. It helps to have a written task list with projected start and finish dates for each task. As you complete the task, note the date.
Start with the section you feel most comfortable with, this is one instance you don't have to begin at the beginning. Most entrepreneurs don't have any hesitancy writing about the historical background of their company. Or perhaps writing about the needs your products fill for customers would be a task that would get your business plan off to a good start.
Base your marketing on research. It might seem easier to say that the market of your company is $5 billion a year and you expect to obtain a 1.56% market share, but that's meaningless. Define your market and how you will reach your market. The market might be huge but you can only reach a small portion at a time. Attack that market segment where you have the best chance of success.
Spend quality time writing your business plan. Don't put it off until you're exhausted from all the other tasks in your day. If the morning is when you're raring to go then designate one hour every morning to write your business plan.
Give your business plan a rest. After you've completed a section let it rest for a day or two, then go back and review what you've written.
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About The Authors
Brian Hill and Dee Power have written several nonfiction books including Business Plan Basics , “58 Ways to Find Money for Your Business, ” Inside Secrets to Venture Capital" and “Attracting Capital From Angels, ” Reach them through The Capital Connection