Love it or hate it, you need a business plan. Interim executives share the best way to get started.
Interim executives are all for business plans. But drawing up one is a task daunted by entrepreneurs in small and medium-sized businesses. Some people either hate it or love it. Those in the former category have gone so far as to write blogs and books on why you shouldn’t even have a business plan.
While you can get by without one, it isn’t recommended. Because of the clarity and structure that a business plan gives your company saves a lot of time and decision-making in the long-term. It provides direction for everybody working in the business and keeps them united in their thought process. Because the benefits far outweigh the cons, it’s worth the effort.
Where to start?
A quick search online for business plan gives you a plethora of templates to start with. They are a great starting point that helps give you an outline to flesh out. But before you get caught up in answering questions that those templates ask of you, answer your own questions.
Take a blank document and write everything about your business idea. Starting from the description to the market, your plans to produce/ manufacture, and how you plan to deliver it. Write down all your plans and ideas for the business and then use that content to either fine-tune it into a professional-looking business plan or import the information into a template.
Get it reviewed
It’s always a good idea to have an extra set of eyes go through your plans. Use your network to find contacts that have experience in the market and industry you want to sell to. They can provide invaluable insight on cheaper and faster ways to improve business processes, as well as, advise on any gaps in your plan.