Starting A Business Plan: Advice On Writer's Block
Writing a business plan is a feared part of launching a new business
, and it is natural for entrepreneurs to have some uneasiness about getting started on the document. This is because the ability of the business to raise money is based to a great extent on the strength of the business plan and mistakes can cost entrepreneurs many deals.Here are some tips to overcome writers block and dig in to the business plan:
Outline and Write Bullets
To start to get a basic idea of the work to be done, begin with a business plan template and, in one sitting, write out everything you can within each section of the plan. Write your notes in bullet points or phrases rather than full sentences at this point, with an aim to dump all of your thinking and knowledge to date into the template.
Review From The Beginning Onward
Next, review your notes beginning with the company overview (the executive summary is always best left until last). Highlight areas where you will need to answer strategic questions or uncover data through research. After this process is completed, you should be able to develop a sense of how much work will have to go into each section.
Tackle the Plan Piece by Piece
To take this large project and make it seem much more manageable, work on a section at a time, devoting a few hours at a time to pull together additional information and make decisions (for example, you may want to consult a lawyer to decide on a legal structure for the company). By scheduling out a few hours a day (or a few times a day if you are not working) you should be able to move through the plan rather quickly. Working in the order of the plan will be helpful, as each section builds on what comes before.
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