Getting started on the business plan is often the biggest hurdle in the whole process of business planning. The project can be overwhelming. While the concept of business planning has tremendous merit, the actual implementation of the process can be daunting, even if you have written a business plan before. One of the most effective ways of completing any project, is to break it into smaller more manageable segments.
Business Plan Calendar
Develop a calendar for the target dates for completion of the business plan by segment. 30 days is a reasonable amount of time to complete your plan. Most business plans take between 40 to 120 hours to complete. Allow two weeks for others to review the plan and give you their suggestions for improvements and then an additional week to incorporate those improvements into your business plan, and for a final read through and proofing.
You can work on more than one part of the business plan at the same time. You can research say, competition while you write the industry section.
Assuming you start the business plan on October 1, your calendar could look something like this:
October 1 Day 1
Start Business Plan and Business Plan Accomplishments Calendar
Day 2
Begin Industry and Economic Review Research
Day 4
Complete Historical Background of the Company Section You already know most of the information about the historical background of your own company, it should be a matter of consolidating the information, editing it and then polishing. You can probably write this in just a few hours.
Day 6
Complete Industry and Economic Review
Day 7
Begin Competition Analysis Research
Day 9
Complete Management Section Most entrepreneurs know who their management team will be, or what gaps they have in their management team, so this section is relatively easy.
Day 10
Complete Business Model Section Again, you should have this pretty well defined just by having determined that you?re going to start the company.
Day 11
Begin Research to determine pricing, costs, and processes for the product section
Day 12
Complete Product/Service Segment The product section is usually one of the easiest for entrepreneurs.
Day 14
Complete Competition Section This is the first section that may be a bit of a challenge.
You?re halfway through the 30 days and you?ve completed six sections of your business plan.
Day 15
Begin determining the Market and make a first attempt at financial projections.
Day 17
Complete Operations, Production and Facilities Section This section is pretty cut and dried and shouldn?t be difficult to complete.
Day 18
Continue Market determination, start Marketing Strategies
Day 20
Complete the Market Section Another section that can be a challenge but there?s time for revision if necessary.
Day 21
Begin Marketing Strategies and start refining revenue assumptions for financial projections.
Day 22
Complete the Ownership Section This is one of the easier sections of the plan.
Day 23
Begin seriously working on the expense assumptions for financial projections
Day 24
Complete the first draft of the marketing strategies section.
Day 25
You now should have all the pieces in place to have a realistic first run at financial projections.
Day 26
Complete the Marketing Strategies Section Refine projections
Day 27
Complete the Financial Structure Section Refine projections
Day 28
Complete Strengths and Weaknesses, Final proofing of all sections
Day 29
Final Financial Projections
Day 30
Write Executive Summary
October 31 — Day 30
Completion of Business Plan
November 15 ? Day 45
Outside Reviews of Business Plan completed. November 21 ? Day 52 Final Business Plan
There, you?ve done it ? a business plan in 30 days.
Dee Power is the co-author with Brian Hill of ?Attracting Capital
From Angels? http://www.attractingcapitalfromangels.com and
?Inside Secrets To Venture Capital?
http://www.insidesecretstoventurecapital.
Available at amazon.com, online booksellers and book stores
nationwide.
