Designing A Business Plan

Designing A Business Plan-20
This way, it will be much easier to move from planning to executing the plan in the near future. If you write something resembling a book, it will serve no purpose except to take up a lot of time that could be spent doing something useful when you write it.You’ll never want to read it or see it again if it’s that long. A business plan serves a purpose for a start-up whether you’re a freelancer or an entrepreneur.

This way, it will be much easier to move from planning to executing the plan in the near future. If you write something resembling a book, it will serve no purpose except to take up a lot of time that could be spent doing something useful when you write it.You’ll never want to read it or see it again if it’s that long. A business plan serves a purpose for a start-up whether you’re a freelancer or an entrepreneur.You don’t need to worry about presentation, spelling or grammar – no one else will see it. Later on, when your business is better established, you’ll want to update the plan, and if you then intend to show it to other people, you might want to read up on how to develop a more complex plan.

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It’s worth noting that there are different schools of thought on business planning.

Some people argue it’s unnecessary, such as the authors of Rework, Jason Fried and David Heinemeier Hansson, who also founded 37 Signals and created Ruby on Rails.

Your first business plan will be for your own use, so it doesn’t need to be a thing of beauty which has been professionally polished. You can save that long, polished business plan for the day that you want to use the plan to secure investment in your business or to help you guide your employees in the right direction. And, perhaps, you would like some time for vacation as well?

It should take a maximum of one day to create your first business plan. You should make a simple SWOT analysis where you define the opportunities and the threats in your market as well as your business’s strengths and weaknesses: nothing too complex—just enough detail to be sure that you understand the market you are working in. What milestones will you use to show progress in your plan? The summary is often called the “executive summary”, of the whole plan.

Planning a business means planning to succeed in business.

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A business plan helps you define what you do so that you can explain this clearly and succinctly to customers.

You should always place your executive summary in the very beginning of your business plan.

Best practice: Ideally, you’ll be able to explain your executive summary as an elevator pitch in only a few sentences.

Some say that it’s essential such as Richard Branson, the founder of Virgin.

Others, such as the Interaction Design Foundation, try to take a middle path like the one we’ve detailed for you here.

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