How to Write a Business Plan - Entrepreneurship 101

Gillian Perkins2 minutes read

The speaker initially struggled to start a business but eventually saw success after creating a functional business plan, leading to growth and expansion. They have now developed a systematic approach to creating business plans, consisting of key sections such as overview, message, marketing, product, production, and goals.

Insights

  • Starting a business without money, skills, or plans was challenging, but creating a messy business plan eventually clarified objectives and led to significant growth.
  • The streamlined business plan developed by the speaker includes six key sections: overview, message, marketing, product, production and delivery, and goals, emphasizing specific, measurable goals for sales, revenue, profit, impact, and development.

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Recent questions

  • How can I create a business plan?

    By following a structured process with six main sections.

  • What are the key components of a business plan?

    Overview, message, marketing, product, production and delivery, goals.

  • How can I streamline the process of creating a business plan?

    By developing a structured system for faster and more useful planning.

  • What should be included in the goals section of a business plan?

    Specific and measurable one-year and five-year goals for sales, revenue, profit, impact, and development.

  • What is the importance of a business plan in business growth?

    It provides clarity, direction, and a roadmap for success.

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Summary

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"From Chaos to Clarity: Business Planning Success"

  • The speaker started their first business twelve years ago with no money, skills, or plans, which was challenging.
  • After several years of working, they finally created a messy business plan that helped clarify their business objectives.
  • Within two years, the business doubled in size, hiring a staff and attracting new customers.
  • The speaker has since developed a streamlined system for creating business plans, making the process faster and more useful.
  • The business plan consists of six main sections: overview, message, marketing, product, production and delivery, and goals.
  • The overview page includes company structure, mission, and a chart of accountability for major tasks.
  • The message page focuses on communicating with customers, defining target markets, and strategies for visibility, lead generation, and conversion.
  • The goals page suggests setting one-year and five-year goals for sales, revenue, profit, impact, and development, emphasizing specificity and measurability.
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