How to Write a Business Plan for Small Business

Writing a business plan for small business is not that difficult. Implementing it and succeeding can be.

Take a step-by-step approach, that is the key in learning how to write a business plan for small business. That is what I am going to do here, and not just provide a business plan outline or template. A link to this is provided at the bottom of this post.

First, reflect carefully on your reasons for starting a business. Then investigate the benefits that experts say you get from business. Do your expectations and these benefits match? If not tread carefully.

Second, reflect on your passion, skills and talents. Does the business you intend starting match this?

Third, who will you help/ serve/ benefit?

Fourth, what do they need?

Do not go further unless you know exactly what the answers are and ideally discuss it with someone you trust. No, not your dog, someone who can talk back and ask difficult questions.

Lastly, write a simple step-by-step blueprint for how you will run this business, what goals you want to achieve. Do this in one sitting, and do it quickly.

Now you can reflect on how to write a business plan for small business, and you will realize that it is not matter of being following a recipe. It is one of getting your own motivation and thinking straight. Once you have thought through the questions above you can rewrite your business plan in more detail.

At this stage there is no shame in deciding that this is not for you and that you would rather work for someone. Most people do. Furthermore, in today’s economic climate, people may become desperate for an income. Starting your own business may seem the best solution. This could be true and have worked for many people, but without considering the questions above you may be kicking a hornet’s nest. Making a living is not a good enough reason for starting a business with all the hard work that goes with that. Be sure of what you really want, and if it is your own business, then commit to that.

This simple approach should help you focus on the important stuff and progress. Understand the big picture and then fill in the detail. Remember you are the pilot, not the maintenance crew, or the flight attendant, or the baggage handler. Stay focused on being the pilot of your business.

Best Ways to Invest Your Money in Fast Cycle Investments

We developed this idea of a segregated fast cycle investment some time ago and have confidently applied the rules to many and varied opportunities. Not all investment opportunities are suitable as we require fast SOR or speed of returns. Also the risk factor is critical as a fast cycle investment needs to be secured in some way for maximum risk control.

Some of the best ways to invest your money (read – get low risk high returns) is by seeking out such short cycle investments. An institutional investment takes typically at least a year to mature and even then, 10 years is better and 40 years would be ideal. Who has 40 years to wait. Not serious investors. That’s for sure.

Not that one would neglect their due diligence and prudent examination of the investment, but obviously a short cycle investment of a month or even a week would compound over a year to provide a dramatic yield for those with the patience to be more hands on with their investment activity. It is after all, just a skill and any skill can be learned with a little perseverance.

Knowing what we know…it would be remiss of us not highlighting several important points. A fast cycle investment should be undertaken with a specific time frame in mind. Also, you should increase your investment when you find something that reliably pays on the long term. To secure the investment, always try to secure equal or better value from the investment in exchange for the money you spend.

How To Write A Business Plan: Plan First and Then Proceed

Are you wondering how to write a business plan? You know how important it is to have a plan, and then to put that into clear steps of action, but how do you get this important component of your business out of your head and onto the paper?

First, knowing what to emphasize in your plan will help you to outline an effective structure for your template. To begin with, simple, clear, practical instructions are a must – this is ideally easily readable and understandable to any employees you may have who work for you on a consistent basis. It’s important for them to understand your plan and what you intend to accomplish, so that they can get on the same page along with you. You can always provide supporting detail for those who want to dig deeper, and this could even be attached as a supplemental document.

Next, it is helpful to have your plan in an outline form – this makes it easy to scan quickly and to note major points of emphasis. Some business owners like to have each employee post a basic version of their plan at their workstations, so that all are reminded of their higher purpose in running the business.

Another very important component in answer to the question of how to write a business plan is to create an avatar. Another way to explain this is to describe your ideal customer, or your target market. Who are you trying to reach? If your company deals with hair color for aging men, then your avatar may be a 40+ male who wants to look younger and is fighting an ever-increasing growth of silver threads from his scalp. But if your business promotes marketing, then your avatar would likely center on business owners and entrepreneurs who need effective methods to promote their individual companies.

You’ll want to avoid anything that distracts your focus when writing your plan. We often refer to these as “rabbit trails”. Be especially wary of creating a plan that is too lengthy, boring, or containing vague descriptions. It will be worth a bit of extra effort to use concise terms and map out clearly your expectations of the company owner, manager, and staff as it relates to fulfilling the purpose and vision of your company.

Want to know how to write a business plan effectively? Remember to make it simple and clear, emphasize your target market, and avoid unnecessary distractions. Once you have a plan in place, you will likely find that your focus and purpose will become much more clear, and your sense of accomplishment will rise considerably.