So you want to start a business. You think you have a great idea. But how do you know for sure your idea doesn’t stink!
The answer: Write a business plan! It’s a great way to ensure your business idea and the path to get there is solid and viable.
Consider this: Would you live in a home where construction workers arbitrarily nailed boards together, each with their own idea of how it should turn out? Probably not because that would be a flimsy, unstable structure unable to weather a storm. You’d be so focused on hoping it won’t collapse that it may consume every waking moment. It’s a huge risk that many of us wouldn’t take!
To mitigate risk in your business, build a solid business foundation you can trust with a blueprint for your business!
A great idea may work for a while, but without direction and guidance to plot your course, you may not make it far. Remember, knowing where you want to go doesn’t tell you how to get there.
You need a strategic direction and milestones to build your financial future — namely, a business with sustainable, prolonged growth. Your success depends on the actions you take today. But, how can you be confident you’re making all the right choices along the way?
A business plan writer is like a second pair of eyes on your business plan. They can help spot areas you may be missing and make suggestions, based on their experience working with businesses like yours, for where you can improve to maximize your chances of success.
But first, let’s lay the foundation by looking at what makes new businesses successful.
What are the keys to a successful business venture?
Everyone has a different view of success. In business, success is most often measured in money and/or influence. What do you need to make money and exert influence in your market?
Make sure you have a solid understanding of your:
- Business concept
- Market expertise
- Customer profile
- Problem your product/service solves
- Positioning
- Core values
- Marketing
- Financial management
- Customer service strategy
- Data tracking and marketing analytics
- Sales process and prospecting
- Systems and processes (operations)
- End goal and results (goals, milestones, and performance metrics)
Not coincidentally, a well-written business plan will help you plan for each of these areas.
Your foundation for success
An effective business plan guides your trajectory. It makes it easier to stay focused on the productive activities that create sales, profit, and sustainable growth. Think of it as your cheat sheet for success and the most important thing to get right when starting out.
This is why getting help with your business plan is so critical. It gives you another perspective, someone knowledgeable in business operations and success. A good business plan writer will tell you if your business idea, or a step you have planned, stinks or could use some tweaking.
It’s a necessary first step to starting a new business venture. But it’s not something you do once, and let it sit to collect dust on your desk.
Refer to it often. Update it annually. Use it as your action plan to know you’re on the right track and course-correct whenever necessary. Measure all business decisions against your business plan to make sure they are in alignment.
Another way to know if your business idea or business growth idea stinks is to conduct a SWOT analysis.
Using a SWOT analysis to evaluate idea viability
A simple yet powerful tool to develop your business strategy, a SWOT analysis can help you weigh the pros and cons of a business idea. It helps determine how it does or doesn’t support your business strengths or weaknesses. Maybe it will cancel out a business threat or is a unique opportunity that you just can’t pass up.
In other words, it’s the key to assessing your position before deciding on whether or not to move forward with your idea. A SWOT analysis should be included in your business plan.
Have Questions? Looking To Get Started?
What else should your business plan cover?
Your business plan is a good way to check the feasibility of your idea and establish actionable strategies to reach your business goals.
In addition to a SWOT analysis for your business as a whole, your business plan will often also include:
- A description of your business
- Your vision and mission statement
- Your Unique Selling Point (USP)
- Your core business values
- Market analysis
- Marketing and sales strategies
- Operational strategy
- A listing of management teams and staff
- Capital requirements and financial projections
We can’t understate the importance of your business plan. It’s what you will measure all future business ideas and decisions against, so you need to get it right the first time. This is why it’s so valuable to get the advice of your business plan writer to help you identify gaps or possible vulnerabilities.
You could write your business plan yourself, but you lose out on the experience of a seasoned writer and business consultant. You’re probably already overwhelmed with setting up your business, so we suggest getting the help of an expert business plan writer.
Why work with a business plan writer?
An experienced business plan writer can have a huge impact on your outcomes and your ability to secure funding and investors for your business.
A good business plan writer has worked with many types of businesses. They’ve seen which ideas succeed and which are riskier. As a result, they can sometimes help you strengthen your idea. This can help you mitigate risk and provide actionable strategies to handle the unexpected when it happens.
There are some problems you can’t predict but having a trusted advisor in your corner to help you iron out the details and spot possible pitfalls in your plan is well worth the initial investment.
How do you work with a business plan writer?
Before your business plan writer can make recommendations, you need to provide them with as much detail as possible so they can see the whole picture. They will do a thorough analysis and help you get clear on your focus and market research. This helps them to recommend strategies for simple execution. Simplifying your process makes your goals easier to achieve, even when they require hard work.
They’ll help ensure that your plan is in alignment with your core values, vision, and mission. And to add icing to the cake, they know the language and words to use to write a business plan that tells your story while informing, educating, and persuading future investors and shareholders to come onboard.
With lots of details and collaboration, your writer can create the best possible business plan for your business. They will dot your i’s and cross your t’s so you can focus on what’s next.
A good business plan writer might tell you your idea stinks!
Fair warning though, an experienced writer can sniff out good ideas from bad ones, and they will tell you when yours stink! Once your writer understands your business, they can be more objective and help you examine every business decision against your mission and core values.
If they say something stinks, it’s because it may not align with your vision for the company. Take their advice to heart and trust their suggestions. Ultimately it’s your business and your decision, but don’t forget their unbiased advice is valuable too. When you do, you’ll get better feedback and more support. Ultimately, this will make a stronger business plan that is actionable and helps you create the business you’ve always dreamed of.
At Bsbcon, we don’t believe in plug-and-play business templates. We craft bespoke plans because tailor-making your business plan to fit your unique needs is how we set you up for success.
Simplify the process of starting and growing your business with consumer-tested, expert panel-approved business plans that provide executable strategies, milestones, and your steps for success.
Want a road map for your future business success? Ready to get advice from a business plan writer? Commit to the success of your business, and talk to the business plan pros at Bsbcon today.
