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Business Plans – Why and How

OK, you’ve heard me talk about business plans before.

And if you haven’t, what? You really need to check this out at https://teikoh.com/?s=business+plan

Well, this week I’m going to talk about what the business planning process involves, and how you have to include the “why” of your business, why does it exist?

You see, people forget that business plans are written to be read. Yes, that’s a revolutionary thought isn’t it?

People think that business plans are boring internal documents that you write so that you can follow them step by step to grow your business. No. That’s called a to-do checklist.

Business plans are written to be read – by you, by your team, by outside investors, by supporters, by people close to you. Yes, they form the basis of what you have to do in order to grow your business – but more than that, a business plan is a story of what you have to do in order to grow your business to become the business that you want. This takes much more than a list of things that are your goals and a list of actions to achieve those goals. This means that your business plan has to be a reminder, an inspiration, it must attract people, it must make them want to be part of your story as an investor, as a team member, as a customer, as a fan.

So, let’s take a look at the why and how of the business plan process.

 

 

It is so important to start with “the pitch”. Why does your business exist? What are you trying to do, what is the offer, what problem is it solving, and why do you believe so much in it?

The rest of the business plan then basically wraps around that one central passion – you validate the assumptions and the numbers, you mark the milestones and you formulate the strategies. That’s the nuts and bolts around this great big inspirational business that you have.

If you want to get more free tips, tools and resources to create great strategy, provide leadership and grow your business go to teikoh.com, check out my archives and register to get more free ideas sent to your inbox every week.

Oh, and there’s one more reason to keep in touch – I’m creating a short online course on business planning soon, a business plan from your vision that you can complete in a day. Keep in touch by clicking here.

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