Throughout all my roles as a business consultant, mergers and acquisitions specialist, and an investor I have come across hundreds upon hundreds of business plans. One thing that I constantly get asked about is how to develop a quality business plan that is relevant. Clearly, the relevance of the business plan depends to a large extent on its purpose and audience. However, there are typically a number of recurring questions I often get asked.
Example questions around building a business plan include:
- How do I know what’s required for a business plan?
- How can I build a business plan quickly?
- How can I keep it up to date and relevant?
- How can I start implementing elements of my plan?
- How can I adapt one business plan for a different purpose?
- How can I overcome the technical and financial elements of a business plan if I have no business background?
These questions are important to address to help business owners overcome their concern and fear around business plans. However, as an entrepreneur your job is to focus on building the company, not fretting over crunching numbers and talking like an MBA.
But worry not. I am developing an online course to help you build a business plan that allows your business to succeed and I want to know what you would like to know more about building and using your business plan. Click on the button below to take the ONE question survey (or leave a comment below) so that I can build a course that reflects your needs. You will be added to the VIP list for the course.
Take The Survey
“In the same way that I tend to make up my mind about people within thirty seconds of meeting them, I also make up my mind about whether a business proposal excites me within about thirty seconds of looking at it. I rely far more on gut instinct than researching huge amounts of statistics.”
Such quotes will be familiar to you about the importance of first impressions in both your personal and professional life. The fact that people decide almost irrationally on ‘gut instinct’ what they think about a person or proposal offers risks and opportunities. Risks in that your initial encounter with people should not be an understated or limp affair, but opportunities in that you have a chance to blow people away with the right preparation and planning for that initial, brief interaction.
There is nowhere this is better emphasised than when you are trying to court investors to invest in your startup. There are things you can do to identify the right type of investor, and strategies you can employ to engage with investors if you don’t have relationships in the first place. However, do not underestimate that the stakes are high. The right investors can make or break the fortunes of your company that you will already, no doubt, have spent significant time and money on developing. They provide the platform with not only their money but also their significant expertise to help your business achieve the success you had dreamed of. So why would you approach them ill prepared or underwhelm them, especially when competition for their attention is so high? Even though some of you may consider engaging an advisor to write a business plan for you, I have developed a template that lets you do this for yourself. You may then decide to get an advisor to review. Continue reading