Month 3 – The Business Plan

Since I have now decided that I want to be a business owner, the next order of business would be to create a business plan. Easier said than done.

Conventional wisdom says that every business must have a plan, but what they don’t tell you how to do it.

Step One – Buy a Book

After talking to friends and associates about what I want to do, they kept asking me a lot of questions. Who is your target market? What is your product or service? How are you going to get customers? What is you value proposition? Have you done a business plan? All good questions that I had no idea how to answer.

I began to think that I needed some help. I did hours of research on the web to find out information about writing a business plan. I downloaded samples of plans and sample outlines. Then I got to work writing my plan. Unfortunately, I didn’t know how to get the information that needed to be in the plan. I needed to plan before I wrote the plan.

So, I decided to go to Barnes & Noble to find a book to give me some help. There were a lot of books, but none of them quite appealed to me like “Business Plans Kit for Dummies.” So, I bought it.

Step Two – Open Book, Do Exercises

I completed chapters 1-3 and most of chapter 4. The exercises in chapters 1-3 consisted of brainstorming for business ideas, analyzing and evaluating the business idea, completing a self-assessment on personal strengths and weaknesses, writing a mission statement and a vision statement. All of these exercises were great and helped me to solidify my vision for Lazy Smart Consulting, LLC. By the time I reached chapter 4, I felt that I had a pretty good start and could move on from there rather smoothly. Not so. Chapter 4 consisted of targeting and gathering information about customers. There was a lot of research involved and a lot of effort. Needless to say, I have not completed that chapter or the book.

Step Three – Find Another Way to Get It Done

During my experience with Chapter 4, "Assessing the Business Environment," I spoke with Jodi Swartz of Patchwork Consulting. She told me about this great book on writing a business plan that she used to help her with her plan. The book is The One-Page Business Plan. Since she so highly recommended it, I decided to look into it on Amazon.com. Well, I bought the book and it was great!

With the help of the exercises in the book, I was able to write my one-page business plan. The exercises were clear, focused, concise, and purposeful. I was able to create meaningful Mission and Vision Statements, Strategies, Objectives and Plans. I am so happy that it is finally done. Now, I can move on to really going after clients because I have a better understanding and focus on what I can offer. I also have a plan in place that I can use as a starting point for developing my marketing strategy and attracting clients.

Step Four – Get Feedback

Now that I have “completed” my business plan, I have sent it out to a few of my trusted friends and business associates for comments and feedback. This step is just a critical as the first three. Why? Well, if you can find other people who understand you and your business, then you have increased you opportunity for getting clients. Also, these contacts can offer your valuable advice on tweaking your business plan and give you “have-you-thought-about-this” tips.

If you get a chance, please take a look at it. I would love to get some feedback.

Lazy Smart Consulting, LLC Business Plan: http://www.lazy-smart.com/businessplan.html

Books mentioned in this column:

• Business Plans Kit for Dummies, by Steven Peterson and Peter Jaret
• The One Page Business Plan, by Jim Horan

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