Having Business Plan Blues… Read on to gain some helpful insight
Just yesterday, I came across a guy looking to start a new business. It was an ice cream shop in a known location in Dubai. He was all excited, but didn’t know what to do. He needed investment and the person he approached asked for a proposal to review the new business. He was struck.
This is a scenario wherein the idea is stalled due to the lack of business plan. Can anyone write a business plan??? I say.. Yes!
The first business plan I wrote was more an answer to an exam question ‘how will you start a new business’. It was vague, filled with too much theory and not at all.. a business plan. I was just focused on writing, but not on putting the idea into a vision.
Everyone has their first step into something they are not familiar with, and you too can have yours. Till date I have made more than 50 business plan and all my clients have a flourishing business. The business plan helped them identify the start-up requirement, convey their business idea in a better way to the investors and even implement a sound marketing strategy.
A business plan will give your idea a vision – a roadmap that will facilitate communication and will lead to growth. Read on the below writing tips for preparing a business plan and share how it has helped you.
1. Remove the froth: Yes, you have prepared your first draft and I must say, it will be filled with unwanted content and unrequired language. Trim your draft to make it straight to the point, remove space wastage, enhance the grammar and make it sound nice.
2. Try to be realistic: A business plan that is not realistic is a plan wasted. It is important that you review your business idea based on the perspective of regular person and try to identify the challenges that can hinder your business. This is a good preparation.
3. Share your thoughts: To be successful, you should be able to communicate your approach well to the investors. Try to give examples and demonstrate cases to clear your concept.
4. Communicate through visuals: A picture speaks a thousand words (be it a color version or a plain b&w). Try to add relevant pictures to boost the confidence level of your investors. The picture should give positive vibes. Be creative – add graphs, projections in charts, or a flow diagram on how your proposed business will operate.
If you still need help to write your business plan, example – the financials, do share it with me. I can definitely give you some insights to reduce the hardship and make it easy for you. Good LUCK!