Writing a Business Plan – Spend Thinking Time On Each Section Not Just The Ones You Like Most

Writing a Business Plan – Spend Thinking Time On Each Section Not Just The Ones You Like Most[EXTRACT]
Okay so, since I am a former entrepreneur and run a think tank, I get the privilege, or some might say the burdensome task, of reading countless business plans. Now then, let me tell you something; most people cannot write decent plan for a new start-up business to save their rear end, you’d be surprised, even those with MBAs from some of the best schools in the country are dismal at it. Of course, your average creative genius entrepreneur is probably worse. There is something interesting that I have found, and it’s this;Most folks spend lots of pages talking about what they are good at, or doing a ton of selling in their business strategic plan. This is interesting because, when they write it they are busy talking to themselves, their mirror, the choir, or convincing themselves of all the benefits. Okay so, no harm no foul but a reality check is needed. Those who are extroverts spend the most pages on sales, marketing, promotion, and such. Those who are introverts sharpen their pencils and talk about numbers, systems, management, and have fairly decent spread sheets, but their marketing sections are weak, uneventful, and even full of false assumptions and out right flaws.

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Another thing I found is that often optimism gets the best of the extrovert types, who were unwilling to yield that there will be potential obstacles and potential eventualities which get in their way costing them more money in startup funds, or cause them to take longer to develop their business. Sometimes those who are more analytical read way too much into potential problems that may or may not exist and out of fear (FEAR – False Expectations Appearing Real) they present a more pessimistic view of their full possibilities. This is not to say that you don’t need a buffer, as nothing ever goes exactly as planned, rather it is to say that being too pessimistic or too optimistic are both incorrect.

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The main point I’m trying to make here is that you should spend more time thinking on each subject, and spend an extra amount of time analyzing those areas that you are least proficient in. If something comes second nature to you, perhaps you don’t need to spend five pages of your plan explaining it all, after all, you could reduce the verbiage, add some bullet points and get it over in a couple of pages. Whereas those sections that you feel uncomfortable with should not be reduced to a single paragraph. Indeed I hope you will please consider all this and think on it.