I am not against business plans. I think they are good if you're writing them for yourself. But if you are writing them to get free money, you could be wasting valuable time you could be using to grow your brand. In my opinion, the business plan may be the most overrated thing in business. Many people, including myself, get hoodwinked into thinking that a business plan will solve everything. It doesn't.
I cringe when people talk about writing business plans. People preach about them as if they are a guaranteed ticket to riches. Beware of people and companies that guarantee that you'll receive government money with your well-written business plan and their guidance. When you go to one of these free workshops guaranteeing you free money, they ask “How many people have written a business plan for free money. " But they never ask “How many of you actually got free money with it?" Why? Because few do.
Writing a 70-80 page business plan can take valuable time away from what you could be doing. You need a plan but taking months to write a beautiful 70-80 page business plan, that will undoubtedly change as you put it together, is inefficient. People don't read them anyway! If you don't wow the reader within the first couple of pages, they won't want to read the rest of your plan. And if you do wow the reader, there will be no need to read the rest of your plan!
Your best bet in starting a brand is to start small. Don't think small, but start small. Use your money, if possible. Free money should be the icing on the cake. If you can get it, great; but don't rely on it. This doesn't mean there's no free money to be had. It just not as easy as people make it out to be.
Again, I'm not against writing business plans. I'm just saying don't put all your eggs in one basket.
Anthony Quinones is the author of BRAND IT . . . And Make It So!: 30 Keys To Turn Your Idea Into A Powerful Brand He is currently writing his second book to be published in June 2008. He will write a third book to be published in early 2009. Anthony has been featured in publications and he has been a guest on numerous radio talk shows and has written monthly columns for various websites. For more information, visit http://www.branditandmakeitso.com . Join our e-mail list and receive the free special report, “10 Keys To Detecting Seminar Scams"