5 TECHNIQUES OF WRITING A SIMPLE BUSINESS PLAN

 Business Plan Writing Simplified

Running a business is not a straightforward path, rather it's a curved road full of ups and downs. That's why it's easy to get lost and stray away from the destination you originally envisioned. To make sure business owners don't get overwhelmed halfway through their journey of building a functional company, they map the entire road out in a business plan.

Business plans are both an analytical and planning tool, two components that are essential for getting a new business off the ground. This article highlights key insights of how to create the best business plan that will serve your business now and in the future.

#1.  Determine your purpose

Having a plan to make profit is important, but it's not the only thing that matters when you start a business. Business plans encourage entrepreneurs to focus on what they are going to do. Entrepreneurs should take time to identify and articulate their business's core values and purpose. This two will serve as a compass for your organization when it comes to decision making at all levels. This compass could also be discovered by having an honest, open conversation with your team. One thing that a team might want to do is engage in a formal assessment process so that they are working from a clear starting point and have a framework foe discussion about working styles, strengths and individual and collective blind spots.

#2. Get inspired 

Writing a business plan from scratch is intimidating for company owners who don't have experience in writing long-term strategies and plans before. That's why it is helpful to see what business plan structure and writing style top companies stick to. To make writing a business plan much easier and create a satisfying final draft, use examples as references. There are a lot of resources business owners can rely on to find business plan inspiration eg-: shopify, bplans and many more.

#3. Build your vision

Having a clear vision of the accomplishments you desire is the key to a successful business. It is advisable to come up with three to five key strategies that will enable you to achieve that vision. Sometimes less is more. An additional imperative aspect of your business plan is the mission statement which is why you are doing what you do. And the first sentence of your mission statement should address the why you are in business. After you fully understand the why you need to define what you are going to do and how you are going to do it. The final part should be who you want as the target market and how to treat them. Once done with the mission statement its an easy transition to develop your value proposition statement that defines what makes you unique in the marketplace and how you intend to differentiate and position your business. 

#4. Avoid superlatives and unsupported claims

It is very common!!! I repeat, very common for startup managers to think that using powerful adjectives like "major, next generation" and others helps establish a company as unique, first of its kind project.! However, in most cases, investors quickly see through ambitious superlatives and consider the company manager who included them in a business plan delusional and overly optimistic. To make a strong first impression on investors, replace superlatives with data driven conclusions.

#5. Test your business idea

Entrepreneurs should talk to industry experts, potential customers in their target market and other entrepreneurs to determine their business's viability. It is advisable that you talk to some real potential future clients and experts and ask for some honest feedback. Ask what they think about your business idea, who are you targeting, how big is the market, will you market you are selling and who your competition is. Writing a business plan will not make your company successful, but it gives you a road map to get there. The forethought put into the plan identifies the milestones by which you can mark your progress.

In Conclusion A business plan is one of the pillars a company's success is built on. Without well defined goals, strategies and KPIs the risk of straying from the founder's original vision is too high. 

Think about that and don't forget to leave a comment of any other idea that you think about.

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Written by: Antony Moturi

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