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  • [VIDEO] How to Finish Your Business Plan, FAST

    August 17th, 2010 No comments

    Watch this free presentation to discover how to finish your business plan in 8 hours (or less)!

    A business plan is at its root a logical argument. It tells readers what you do, who you do it for, and how your company will grow into a massive financial success. When you first sit down to write your business plan, simply consider the following.

    What are you capable of?

    So you have an idea for a business that will grow into a multi-million-dollar profit generator. You can see how all the parts fit together, what resources you will need, how you will deliver your products and services to the right people, and how you will be able to cash out in through an IPO or buyout.

    Knowing what you need to do is a good thing. Now you have to honestly assess what you can do. Do you have the resources you need to produce your product? If not, do you know how to acquire them? What does your management team look like? Do they have a track record of success that would impress a venture capitalist? Is there a market for your product? Is the market growing? Can you surpass existing barriers to entry into your target industry – and go on to set up new barriers to entry against encroaching competition?

    Write down what you have, and write down what you need. If you discover that you can realistically get what you need to go through with the process, you are capable of success.

    Where’s your cheat sheet?

    No one knows everything there is to know about writing your business plan. Use a template to create a skeletal structure to hang your ideas, information, and knowledge on. The template should cover all the bases for creating a great business plan, including the Executive Summary, Company Analysis, Industry Analysis, Customer Analysis, Competitive Analysis, Marketing Plan, Operations Plan, Management Team, Financial Plan, and Appendix.

    Such a template should feature subheadings for filling it out completely and succinctly.

    Get Feedback

    Share a draft of your business plan with people whose opinions you might find valuable. Be sure to share it only with people you trust, but know that it is not likely your business idea will be stolen. It’s not so much what the idea is that matters, but rather your ability to execute on the plan.

    Getting feedback from friends, family, associates, and mentors will show you things that might never have occurred to you – and result in a far better business plan.

    Set a Schedule

    Writing the business plan can take many dozens of hours. You can complete it faster by setting a schedule. In fact, many entrepreneurs have completed finished business plans within the course of a week – by blocking out two sections a day for five days, eight hours a day.

    Whatever your schedule, stick with it.

    Watch this free presentation to discover how to finish your business plan in 8 hours (or less)!

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