Develop a calendar for the target dates for completion of the business plan by segment. 30 days is a reasonable amount of time to complete your plan. Most business plans take between 40 to 120 hours to complete. Allow two weeks for others to review the plan and give you their suggestions for improvements and then an additional week to incorporate those improvements into your business plan, and for a final read through and proofing.
You can work on more than one part of the business plan at the same time. You can research say, competition while you write the industry section.
Assuming you start the business plan on October 1, your calendar could look something like this:
October 1 Day 1 Start Business Plan and Business Plan Accomplishments Calendar
Day 2 Begin Industry and Economic Review Research
Day 4 Complete Historical Background of the Company Section You already know most of the information about the historical background of your own company, it should be a matter of consolidating the information, editing it and then polishing. You can probably write this in just a few hours.
Day 6 Complete Industry and Economic Review
Day 7 Begin Competition Analysis Research
Day 9 Complete Management Section Most entrepreneurs know who their management team will be, or what gaps they have in their management team, so this section is relatively easy.
Day 10 Complete Business Model Section Again, you should have this pretty well defined just by having determined that you?re going to start the company.
Day 11 Begin Research to determine pricing, costs, and processes for the product section
Business Plan Competitions
By Laura Ciocan The idea of a business plan competition first started in the 1980s at the initiative of some MBA students from Texas and has increasingly gained popularity. Such events happen yearly..
By Laura Ciocan The idea of a business plan competition first started in the 1980s at the initiative of some MBA students from Texas and has increasingly gained popularity. Such events happen yearly..
Day 12 Complete Product/Service Segment The product section is usually one of the easiest for entrepreneurs.
Day 14 Complete Competition Section This is the first section that may be a bit of a challenge.
You?re halfway through the 30 days and you?ve completed six sections of your business plan.
Day 15 Begin determining the Market and make a first attempt at financial projections.
Day 17 Complete Operations, Production and Facilities Section This section is pretty cut and dried and shouldn?t be difficult to complete.
Day 18 Continue Market determination, start Marketing Strategies
Day 20 Complete the Market Section Another section that can be a challenge but there?s time for revision if necessary.
Day 21 Begin Marketing Strategies and start refining revenue assumptions for financial projections.
Day 22 Complete the Ownership Section This is one of the easier sections of the plan.
Day 23 Begin seriously working on the expense assumptions for financial projections
Day 24 Complete the first draft of the marketing strategies section.
Day 25 You now should have all the pieces in place to have a realistic first run at financial projections.
Business Planning for College Students and FirstTime Entrepreneurs
By Dave Lavinsky More and more students, both in undergraduate and graduate institutions, are deciding to launch their own ventures upon graduation rather than taking the traditional route of working..
By Dave Lavinsky More and more students, both in undergraduate and graduate institutions, are deciding to launch their own ventures upon graduation rather than taking the traditional route of working..
Day 26 Complete the Marketing Strategies Section Refine projections
Day 27 Complete the Financial Structure Section Refine projections
Day 28 Complete Strengths and Weaknesses, Final proofing of all sections
Day 29 Final Financial Projections
Day 30 Write Executive Summary
October 31 -- Day 30 Completion of Business Plan
November 15 ? Day 45 Outside Reviews of Business Plan completed. November 21 ? Day 52 Final Business Plan
There, you?ve done it ? a business plan in 30 days.
About the Author:
Dee Power is the co-author with Brian Hill of ?Attracting Capital From Angels? [ http://www.attractingcapitalfromangels.com] and ? Inside Secrets To Venture Capital? [ http://www.insidesecretstoventurecapital] . Available at amazon.com, online booksellers and book stores nationwide.