Why Every Entrepreneur Needs a Business Plan

How to write a business plan, a one page business plan.If you learned how to write a business plan at all, you probably learned how to write a MBA quality 30-page plan designed to attract investors or get a bank loan. In addition, if you are like most of us, after your initial start-up you never looked at your plan again.

Often when an entrepreneur is posed with the statement “tell me about your business plan” they will tell us their vision for the business, the issues, the focus, the employees or lack of and about the customer who buys their product or service.

Entrepreneurs are typically great talkers, but when we ask “is all this in writing?” or “what do your employees think about the plan”? While neither of these are meant to be an earth shattering question, it usually is perceived that way.

So when we ask about a business plan, it’s because we’ve learned that most entrepreneurs don’t have one and that when they take the time to think through their focus and strategy, preferably with their team, everything comes together.

Ask yourself:

  • What would it be like if you could reference a plan when making choices?
  • Can you imagine being able to share the whole plan with your employees, affiliates and your coach?
  • Can you imagine the freedom you will have when it is out of your head and on paper?
  • What if everyone understood the business strategy, as well as the business strengths and weaknesses?

Entrepreneurs that take the time to answer these questions and create a working business plan often report many insights into future mistakes that would have happened had they not written the plan and that having a simple plan in writing has allowed the whole team to collaborate, align and support the business vision.

Want to get started writing your business plan?

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