Identifying the Plan for Your Business Plan

Crawford Business Consulting, LLC

A business plan is not a one-time task, but rather a continuous process that requires constant attention. When it comes to a business plan’s content (which is still important), its presentation and format are secondary. Its content should also be updated frequently. A real business with a real business plan regularly reviews and revises it.

A return on time and effort, as well as money, should guide the planning process. Focus on the business purpose before seeking outside assistance.

What are the three main objectives of a business plan? An effective growth strategy, determining future financial needs, and attracting investors (including angel investors and venture capitalists) are the three most important purposes of a business plan.

A business plan that helps you manage better by establishing strategy, tactics, milestones and metrics as well as essential projections, tracking results and revising frequently is unlikely to be successful.

A business plan may be required by an outside party, such as a bank or investor, as part of a divorce settlement or as part of a strategic alliance. In that case, it would be appropriate to formalize the plan with well-written summaries, descriptions, etc. Form follows function, as it always does in business. Decide first what you really need for your business.

Suppose you must present a business plan to others, you should look for a coach or advisor, not someone who will write your business plan for you.

Crawford Business Consulting, LLC

1. Find a partner who is committed to the long-term success of your business.

For a plan to be effective, it must be regularly reviewed, progress tracked, and revised. The plan must be passed on in its entirety so that it can be reviewed and revised easily, or someone must be available later to assist in the process of reviewing and revising it.

Some business plan writers approach their work with the mindset of a coach, while others don’t. Do not work with someone who will deliver a plan and then ask you to implement it and walk away.

Additional Read: Is Business Consulting the Answer?

2. Work with someone with relevant industry experience to assist you.

If you’re looking for help, you’ll want to find someone with relevant experience who can compare your plan to what they’ve seen happen in the past.

You want someone who can tell you if your marketing expenses are unrealistically low or your profits are unrealistically high. There should be someone who can give you a heads up on what metrics are most important. This is because those metrics are usually specific to your business.

3. When possible, leveraging someone on your team is ideal.

Identify someone who is already on your team, will be around for the long haul, who knows your industry, and who has relevant experience. It may be a good idea that they work closely with you and your consultant. Think about your list of managers and advisors before making a decision.

Do not look at your business plan as an immediate task, but see it at a living document that could be the heart of your business operations. Depending on your objectives you may require a more comprehensive plan than in a traditional template. Learning more from a professional may be the key to your success.

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Instead of seeing problems, we seek solutions. Leverage our years of team experience to tackle your business needs from planning, to franchise your current operations, and most things in between. Our network is filled with experts ready to discuss your success.

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