Don’t let a business plan intimidate you. You’re going to need a plan if you’re getting investors or funding, but you should have one even if you don’t think that is in the near future. Your business plan helps you stay focused. Here are some tips that will help you write a business plan.
Use the Resources Available
You don’t need to reinvent the wheel. There are plenty of templates available to help you craft a business plan. The SBA and SCORE offer samples and templates online. Get to a SCORE office and find a mentor who can help you fill in the blanks. Make sure you’re creating a business plan, not a pitch deck. Your business plan is more organizational and internal in nature. A pitch deck is for getting funders.
Start With Your Business in Mind
You are the only one with the passion to bring your business to life on paper. Don’t hire a freelancer in the early stages to write your business plan. Get your ideas on paper and figure out what you’re missing. Maybe you will need to hire someone to help you with market research. But you need to be driving the business plan, not expecting a writer to do the work.
Be Ready to Change Your Plan
As your business grows, you’re going to find that your product or service is better marketed to a different customer or in an alternate market. Don’t let your business plan keep you from being flexible. Think of your plan as a living, dynamic document that you go back to and revise as your business model grows. If you do that, you’ll be ready when you need to have a plan to show to investors or funders. Once you have down your key points, you can tailor your plan to fit the audience.
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