Every so often, a request comes along for information about writing a business plan. You can find templates at SCORE, from the SBA, in books or on-line templates, and these are helpful if you've never even seen a business plan.
Often, though, the person requesting a sample still drags their heels a bit, asking for real-life examples, or more books. They want to see how "everybody else" did it, fearful they'll "do it wrong". Or they worry that theirs isn't going to look professional enough. You get the feeling they think a business plan is a legal document that must be studied and contemplated for a long, long time, and then done perfectly.
Not.
Actually, sometimes a business plan DOES need a lot of finesse. But unless you are using yours to apply for bank loans or a grant, or some other "official" purpose, there really isn't a right or wrong way to write a business plan.
Remember, no one else will probably ever even read it.
A business plan is for YOU. For YOUR benefit. Its main purpose is to force you to think about YOUR goals for YOUR business, and how YOU will get there.
A business plan asks you to summarize your business. It asks you where your business is right now, and where you want it to go. It asks you to identify your short-term and long-term goals for your business. It asks you to identify your particular skills and assets. It asks you to describe your market your customer, your location, your business philosophy, your sales approach and your marketing plan. You identify your production processes and operational needs. It asks you how you will manage inventory, where you will get your materials and who you will get them from. It asks you how you will handle your finances, and what condition they are in. Finally, you can also include personal and credit references.
It's a thinking exercise, a focusing exercise. People often refer to it as a "roadmap", but its more like an imaginary roadmap. After all, a real roadmap is practically written in stone, with specific roads that get you from one place to another.
But each business is a product of its creator, individual and distinct in nature. Your goals for your business may not be anything like someone else's goals for theirs. In fact, many, many people start and grow successful businesses without any business plan at all.
Also, business plans change and evolve as your business and your goals change and evolve. Some people write their plan and never look at it again. Others pull it out every so often to see how they're doing. And some people rewrite it at the drop of a hat. All approaches are okay.
It's simply a tool. You can use it anyway you like.
Here's my advice:
Start where you are. If you've found a basic template, go with it. Eventually you'll come across another example and it will inspire you to get more in depth with yours.
Answer the parts you can, go back and catch up on the harder parts. It's not a timed test. It's okay if you skip parts for later--or forever.
Don't get too caught up in "doing it right" or "doing it perfectly." Just do it. Trust me, just going through the process is educational and worthwhile.
My first business plan was quite simple and modest. I had to really think about what my product was, who it would appeal to, and what my price range was going to be. I had to really think through who/what my competition is, how my product is distinctly different, who my target market is, etc. It was scary to actually write down my what my measures of success would be, to list what publications I'd like to appear in, what my highest price piece would be, what shows I'd like to be in, what honors I'd like to win. It made me realize that even my wildest dreams for my artwork were still quite modest in nature, and forced me to dream even bigger.
I check in with mine every other year or so, to see what's changed and what I need to adjust. And here's where the REAL excitement of a business plan kicks in:
When you begin to see your goals achieved, and your successes pile up. When you realize your original markers of success are in, and you need to think of new ones. When you realize you really DO have a target audience, and they aren't always who you thought they were. And that there are other venues to meet them at.
Watching your dreams come true, one small step at a time, and adding up to BIG success.
Looking back over the year and realizing how far you've come, and seeing how you did it--THAT'S the reward of making a business plan.
