Zebraheard

Helping entrepreneurs turn ideas into a business

Kick Coffee- Write a Business Plan!


Every entrepreneur understands that the best way to deprive yourself of any meaningful sleep is to just think about writing a business plan.    

Entrepreneur Sustenance

 

You want to quit caffeine, then try writing a business plan. It makes grown men cry and the bravest among us to run for the hills.    

Business plans do not have to cause such discomfort. I believe they do because so often the emphasis is in the wrong place.    

One of the first questions out of a prospective entrepreneur is, “Do I need a business plan?” The better question to ask is,“ Why do you need a business plan?”    

Experts often cite the need for a business plan as necessary to present to potential funding sources.  And yes, they will require a business plan.  However, I strongly believe it is not the ‘end product’ that is your goal but the rigorous process in creating the business plan that is most important.  If you do the process the product will come.  However, I have seen prospective entrepreneurs focus narrowly on creating just the business plan and forget completely about the process.  The result is a sub-par business plan, and an entrepreneur that is far less prepared to begin a business then if he had invested the necessary time in research.      

If you do the proper research necessary, the result will take care of itself. You will have a good document, but you will be a better entrepreneur.  When preparing the business plan, always focus on how it can  help you become a better entrepreneur.    

By doing that, the rest will take care of itself.    

This topic could become a whole other blog, but for now I want to focus on this topic for the next couple of days.  Since it is a critical tool to the entrepreneur, I feel a few days devoted to this topic is warranted.

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April 3, 2010 - Posted by | Entrepreneur | , , , , , ,

4 Comments »

  1. Nice article. You recently checked out my blog and I waned to stop by to read some of your posts and I like your content. I agree with a lot of what you say and truly believe that you can write an incredible business plan but lack in the plan of action and you’re doomed. While a business plan can be important depending on the line of work or loan, it’s more important to put your words to action and follow through with what you put on paper. The Toilet Paper Entrepreneur, a book written by Mike Michalowicz, talks about no business plan should exceed 3 sheets. His belief as well is that the action steps will be much more important. This is all relative and may be very important to write an extremely detailed business plan for a business loan, however, don’t get completely caught up in the plan itself. Actions speak louder than words.

    Comment by Brett Howard | Inbound Promotions | April 5, 2010 | Reply

    • Brett, thank you for the post. It really does come down to execution, does it not?

      I do believe these business plans that rival War in Peace in size serve no one. Conversley, at the other end of the spectrum 3 pages might not be the best way to go either. It depends. The 3 page business plan would do fine for a serial entrepreneur, but I believe 3 pages will not do the beginning entrepreneur much good.

      Whether the plan is 3, 7, 10 or 20 pages the entrepreneur must execute. But execution must be aligned with Strategy and that is formed through a rigorous understanding of the factors that effect a business, which is obtained through the process of the business plan.

      Brett, it will be quite interesting going forward to see how the business plan continues to adjust to the new entrepreneurs of the world. Exciting business!

      Comment by Brenda Collins | April 6, 2010 | Reply

  2. […] with goals create activity. Activity without goals means you keep going in […]

    Pingback by John Wooden A Great Man! Entrepreneurs Take Notice! « Zebraheard | April 3, 2011 | Reply

  3. […] an entrepreneur is hard work.  I have found most people who say  they want to start a business do not have a real understanding of the challenges entrepreneurs face daily. There are sacrifices […]

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