We understand that writing a business plan can be a daunting experience.You have a great idea, loads of experience in the industry, but you’ve never had to produce a document like this before…Don’t worry!
We understand that writing a business plan can be a daunting experience.
But the problem with business plans is that they haven’t evolved with the business world.
So, why would you spend time on something that is outdated?
Most of them did make a Power Point presentation, and a few even wrote executive summaries, but they didn’t write business plans.
Remember, most investors don’t want to invest in a “plan.” They want to invest in a business that is up and running.
Writing a plan will just slow you down on your way to success.
For a moment, think about all of the things that have changed in the past year. Now, take a moment to think about all of the things that have changed in the past ten years.Things change, so why would you waste your time writing a document that won’t be up-to-date.Or if you want to take it to the next level, why would you start writing a plan that will never be complete?Careful academic research on the business start-up process reveals that many entrepreneurs never write a business plan.These studies also show that writing a business plan helps entrepreneurs in a number of ways, including improving their odds of successfully developing a new product, organizing a company, accessing external capital, obtaining raw materials, generating sales and surviving over time.The biggest reason why I have never written a business plan is that it takes me away from the business. Spending weeks on something that has no proof of impacting the success of my company is a waste of time.If you have somewhat of an understanding of what you are going to do and where you plan on taking your business, you should spend all of your time acting on it.Roughly 30 of my close friends have taken some sort of venture capital or private equity financing.And none of them raised that money by writing a business plan.A business plan is a written description of your business's future, a document that tells what you plan to do and how you plan to do it.If you jot down a paragraph on the back of an envelope describing your business strategy, you've written a plan, or at least the germ of one. You start here, today, with certain resources and abilities.