A Business Plan Is Your Roadmap And Is For You
You’ve learned enough, and it is high time to put everything in a single business plan. A business plan is your road map guiding you toward your goal. It will solidify your goals, where you’re starting, and where you plan to end up.
A Business Plan Template That Differs From 99% Business Templates
I will provide you with a template that you will fill literally within one day. This business plan differs from 99% business plan templates you will find on the Internet. It keeps things simple and to the point. I am an entrepreneur too, and this template works, yet it is not overcomplicated.
You will be proud of you at the end of the day that you keep a substantial document that acts as a roadmap. The template you will use will reduce your time spend on writing a business plan to a few hours instead of days.
4 Vital Components Of Your Business Plan
Today’s lesson will be more about reminding you about the most critical components of your business plan.
Your plan needs to have:
- A one-line description of your company. Believe it or not, but most of the starting young entrepreneurs, cannot describe in one sentence what does their future company do. I believe in you that you can do it at this stage.
- Financial Model. At this point, you should be able to answer a question: How am I going to finance my business? What will be the source of revenue dependently on my business stage?
- Risks mitigating milestones. These are the milestones that, when achieved, are reducing the risk of failure and make your business more probable to succeed. Imagine a restaurant. Risk Mitigating Milestones might be: finding a location, getting licenses, having a building and premises, hiring staff, opening, the first threshold of cash flow, the second cashflow threshold, and so on. With every milestone, your business is closer to achieve success.
- Why are you uniquely qualified for success. This is one of the most critical questions you need to answer yourself. Being honest with ourselves is difficult, but you need to find the reasons. They will help you not only to position yourself better, but also will help to present yourself when talking to the potential customers or investors.
There is a couple of more points – you will find them in the attached template, which consists of supporting questions and suggestions.
Do not use online software business plan generators
And remember. Do not use online software business plan generators.
First, they are “too good to be useful” – they will engage you for days with them.
Secondly, sometimes the best way to think is to take a pencil and paper, lock yourself and write things down without distraction. Therefore, the attached template can be printed by you and filled. Or you can do it directly in the Word document attached.
So, Let’s Do The Homework
So, we will finish today’s classes, and you need to do the homework. Open the file Template – Business Plan and fill all the marked fields. After six days of our courses, we have covered all the elements needed to fill this plan.
I wish you Good Luck!
P.S. In this article you will find useful information related to writing your business plan.
- Firstly, you have learned why the business plan is essential.
- Secondly, you understand the main principles of the business plan.
- As a result, you can write your business plan that solidifies your goals, thoughts, finances, and analysis.