The Trouble with Startup Business Plans

The Trouble with Startup Business Plans

Yeah. I know the feeling.

Are you struggling to write a business plan for your startup? I can’t imagine why. It’s not like every second of every minute of every day is already filled to the absolute brim with the details of working at your startup. What’s that you say? It is filled to the brim? Oh.

Of course your days are crazy insane. Of course you don’t feel like you have time to write a business plan. Honestly, deep down inside, where you don’t let your business mentors see, you’re not even sure you need a business plan. Right? Admit it. I won’t tell.

I get it. I really do.

There are two problems with startup business plans, and they both start with the belief “I don’t.”

  • I don’t have enough time to tackle this monster task.
  • I don’t need a business plan because I already know my business.

I understand both feelings. I’ve had both feelings.

I also know that both feelings are wrong.

I Know What I Know
Many entrepreneurs guide their businesses on gut instinct alone. For the lucky ones, their instincts are right on. But even if your gut is a virtual business GPS, you still need facts to sell your vision to others. Whether those others are your employees, your partners or your investors.

Writing a business plan is like a fact-finding mission. These facts become the roadmap for your business. And as much as you think you know your business, I dare you to go through the process of writing a proper business plan and not come out the other side with some new revelations about your company, your competitors or your industry that changes the way you do business. Common, I dare you.

Time is Not on My Side
The time equation is another story; writing a plan does take some time. But business plans, beasts that they are, can be conquered without having to shut down your entire business while you write it. It can be done. There are trick you can use, like chunking out the work by sections. You can do the research and financial parts first so that when you write the plan you can really focus on strategy.

But however you decide to tackle it, you have to take the first step.

Here’s one way to do that:

Join me and internet entrepreneur Erin Blaskie for a free webinar tomorrow on how to write a startup business plan. (8/18/11 1 pm EST)

We’ll hit the highlights on what you need in your plan and what you don’t need to waste your time on. We’ll shed some light on areas of the plan you may have thought were too daunting to tackle. And I’ll offer a ‘friends of Erin’ discount on my new eBook Startup Business Plans – a Working for Wonka Guide.

It’s a one-hour session with time for Q&A. So bring your Q’s and I’ll plan some A’s. See you then.

Register here: EntrepreneurDIY

If you can’t attend, you can also find free templates and video tutorials in the Resource section of Working for Wonka. Each video covers a different section of the plan, and each video is under 10 minutes long.

 

2 Comments

  • Andrea Lucas

    Reply Reply November 7, 2011

    Thanks for describing both sides of the business plan startup process. It helps to know the benefits as well as the negative affects. Good read.

    • Kathy Ver Eecke

      Reply Reply November 7, 2011

      Hi Andrea! Glad you found it helpful. Thanks for the comment.
      Kathy

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