Business Planning - What Not To Do: Part 1

Just start writing.

Many new entrepreneurs get started by writing a business plan.  At least they try to start their business by writing a business plan.  And while this is the advice you’ll get from many coaches and consultants, it’s probably not the right way to begin.  Many get stuck after the company description part and don’t know what to write next.  And there’s a good reason why they get stuck, they don’t know what to write.  If it sounds like I'm talking in circles, it's because I am.

Business planning doesn't start with writing a business plan, it ends with writing a business plan.  That's because a business plan is a summary of all the work, planning and research that an entrepreneur has conducted.  It’s not a novel.  You can’t make up the plot as you go.  You have to know the details, before you can sumarize.  After you finish all the research and analysis, confirmed viability and are happy with your business model, THEN you start writing down your plan.

Over the next several entries, I’m going to discuss some things not to do.  I have a specific process that I recommend for entreprenturs getting started on the road to business ownership.  I’ve outlined this plan in my new book, Business Start-up 101, From Great Idea to Profit…Quick! coming out in September.  Click here to pre-order your copy.