It is no use reinventing the wheel trying hard to uniquely draft a business plan when the rules have been set long time ago. You stand more chances of succeeding in your business if you follow what other successful entrepreneurs have done prior to getting started. At the same time, copying, adopting and trying to customize a plan that worked for someone else is not only deceiving, but could create problems for you in the long run.

 

The ideal starting point is doing a truthful present situation analysis of yourself before you go into details in your plan by addressing the following questions:

 

  1. What?
    1. What role can I play in this business?
    2. Do I have the skills, time and commitment to do my assignments on the project?
    3. Is there a prototype to study its operations?
    4. What are the inputs (raw materials, personnel, legal procedures, energy sources, etc?)
    5. What defines quality for the products or services?
    6. What processes are involved to acquire stock, package it and sell?
    7. Can I describe the concept is the shortest words possible?
    8. What persuades people to want my service or product?
    9. How much will it cost me?
    10. Do I know the qualifications of each of the staff members and value they add?

 

  1. Where?
    1. Where will I get the inputs?
    2. Will there be one outlet and where?
    3. Where will my staff reside?
    4. Where shall the customers come from?
    5. Where shall I market my products or services?
    6. Where will I get startup finances? 

 

  1. When?
    1. When do I hope to start operating?
    2. Each business growth stage be accomplished?
    3. Stock taking events?
    4. Will you change staff compliment?
    5. When will I close the business?
    6. When will I pay the bills?

 

  1. Why?
    1. Why should I bother about this business?
    2. Why should I involve the people I wish to in the business?
    3. The place chosen for operation?
    4. The method of operation?
    5. The license chosen?
    6. Why I think this is the right idea for me?

 

  1. Who?
    1. Who will be my legal advisor, my partner, do the accounts, supervise, etc?
    2. Who will be hands on?
    3. Who shall finance the business?
    4. Who will house the business?
    5. Who will be my banker?
    6. Who will be my broker?

I have studied and selected the above questions with great consideration and your response to each of them is very important and should be taken seriously. If you feel uncomfortable with any of your responses, don’t compromise, just work on it. It is better to delay now and do things right than addressing problems from poor planning. It only when you are comfortable with all the answers above that you can move on to the next stage.

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