Get Your Business Plan To Do More

A business plan has many purposes. It can guide you, entice others to work for you, increase supplier confidence, intrigue customers, and help with financing.

But for each of these purposes there are some techniques to make the busienss plan more effective in helping with this end result.

For YOU
- use only 1-page
- make sure it is a big page, bristle board size is usually the best
- if possible, make it erasable by using a whiteboard or chalkboard, this is even better to help with ongoing changes
- hang it up on an open wall in your office
- spreadsheets for sales projections and financials are still necessary and helpful (sorry!)

For EMPLOYEES or PARTNERS
- use only 1 to 5 pages
- highlight the employees' and partners' roles and how they will contribute to the business' overall success
- include what their reward will (likely) be

For SUPPLIERS
- use only 5 to 10 pages
- explain the reason why your idea is so great and the potential for success is so high
- include the growth potential including pessimistic, realistic, and optimistic projections
- explain the action plan that will get you from where you are to where you are planning on getting to within the next year
- outline any additional benefit that they will receive as they are working with you early in the game

For CUSTOMERS
- use 1 to 5 pages
- speak about the benefits and focus on the customer throughout
- explain the future plans that will further benefit the customer and why they should start with you now
- think marketing

For BANKS
- find out in advance the probability of a successful application
- use their templates which are posted on their websites or that they provide to you
- try to keep the content to under 20 pages and under 30 pages with your appendices
- speak with your small business advisor or the primary contact before writing the business plan and keep them involved throughout the process

Business plans are important, but if you design it for a purpose it will be more effective.