Succeed As Your Own Boss

ENDING SMALL BUSINESS FAILURE

  • Home
  • About
  • Book Melinda
  • Consulting
  • SBL Store
    • Books/Workbooks
    • LifePlanningJournal
    • 30 Day Fast Start Program
    • Become Your Own Boss Course
    • Become Your Own Boss Bundle
    • Fix Your Business Masterclass
    • Write A Business Plan Course
    • One-on-One VIP Coaching
  • Subscribe to Podcast
  • #Smallbizchat
    • Be a #SmallBizChat Guest
  • Blog
    • Write For Us
  • Contact
You are here: Home / How to Start / How to Write a Killer Business Plan in 7 Days

How to Write a Killer Business Plan in 7 Days

August 20, 2019 By Melinda Emerson Leave a Comment

Feel free to share...Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on LinkedIn
Linkedin
Pin on Pinterest
Pinterest
Share on Reddit
Reddit
Email this to someone
email
Print this page
Print

write a business planIf you’ve got a business or start-up, a business plan is vital, especially when it comes to securing funding. Investors want something that they can look at and say, “Wow, this is surely going to head somewhere.” Your business plan should serve as a roadmap for explaining your business. Prospective investors should be able to know what you’re doing at a specific time and the business plan can also reassure them that you’re heading in the right direction.

While there is no one size fits all plan, a lot of experts on business will advise on writing short plans. You need to put some meat on the bone, so to speak. The most important thing is quality, not quantity, so a detailed and high-quality business plan is your gateway to profitability. So how can you create one? Let’s look at how to write a business plan in just seven days.

1. Problems in the Market + Solutions

Whatever market you choose, there is always going to be a problem that causes some painted customer. Problems can be turned into opportunities for business, and a killer business plan will highlight a problem within the market and present a strategy for solving it. If you’re entering a competitive market, think about strategies that will solve problems better than existing companies are solving them. This will give you an edge on your competitors.

2. Understanding Your Customers

Whether or not you can provide your customers with solutions is based on how well you know them in the first place, which is why customers should be a focus when you write a business plan. The best business plans will demonstrate awareness and insight into prospective customers, so it’s vital that you understand them before moving on to any other technical aspects of the plan. Listen to the opinions of others when presenting your ideas, carry out preliminary market research, and do all you can to understand prospective customer needs. The analysis of these customers is what is going to be included within your business plan, and it is what will tie together the problem and the solution.

3. Clarity and Being Specific

Everybody dreams big, but it’s also great to be realistic when you write a business plan. Don’t go overboard and start coming up with far-fetched ideas. Keep your vision rooted firmly in reality and don’t make any wild and exaggerated evaluations. Take the time to really study your market competition and estimate a realistic market size. Your plan should be based around the most solid facts and figures, not just pipe dreams and illusions. It’s great to be realistic, and prospective investors will appreciate this too. Illustrate key ways of how your plan is going to make money for investors.

4. Executive Summary

Coming towards the end of the business plan, it is time to create your executive summary. Really take time with this, because it is a make-or-break point, and if you don’t win over the hearts of potential investors, they will not continue reading your business plan. It is at this point that you need to hone in on the reasons why an investor should go with your business. It’s really important to emphasize what your business is going to do that others in the market have failed to do. Inspiring this confidence in prospective investors is key within the executive summary.

5. Marketing Plan

When you write a business plan, it is also important to present to investors how you’re going to market your business. You want to demonstrate that you can make your business known by as many ideal customers as possible. When presenting your marketing plan to potential investors, come up with a reasonable and competitive pricing strategy. Once you have this all sorted out, potential investors will begin to understand that they can get a return on their money.

6. Appendices

The appendix section within your business plan acts as a sort of backup. Appendices flesh out the arguments that are in your business plan in greater detail. It’s important to have this in order to illustrate any financial projections for your business. It may not seem like the most glamorous section, but it does help to provide clarity and confidence in your plan.

7. Review

It goes without saying that once you’ve completed all of the steps above, you should really go through your plan. Other than dotting the I’s and crossing the T’s, make sure that there aren’t any ideas that you’ve left out. You may only have one chance, and you won’t want to spoil it with careless mistakes.

Wrap Up

Business plans present the steps in which you will make your dreams come true. With the tips that we’ve offered you, you’ll be able to write a business plan that demonstrates how your business can make money for potential investors.

write a business planAbout the Author: Mollie Porein is a former career mentor and business expert, with over 7 years of experience working in the financial industry. She now spends her retirement as a contributor for various blogs and as a content writer for essaywriterforyou. Aside from business, she loves cars, outdoors, and photography.

Feel free to share...Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on LinkedIn
Linkedin
Pin on Pinterest
Pinterest
Share on Reddit
Reddit
Email this to someone
email
Print this page
Print

Filed Under: How to Start, Starting A Small Business Tagged With: business plan, How to write a business plan, small business, write a busines plan

Fix Your Business Now!

Order SmallBizLady's new book Fix Your Business, 90-Day plan to Get Back Your Life and Reduce Chaos in Your Business. It includes the 12 Ps of Running a Successful Business and readers will finish the book with a new strategic plan to take their business to the next level.

About Melinda Emerson

Melinda F. Emerson, known to many as SmallBizLady is one of America's leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also bestseller author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works. Her latest ebook, How To Become a Social Media Ninja; 101 Ways to Dominate Your Competition Online was released in 2012.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Let’s Connect

  • Facebook
  • Instagram
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

Let me send my best blog posts to your inbox each week.

Click Here to Sign Up!

Get 2 FREE Chapters of SmallBizLady’s Book,
"Become Your Own Boss"!

Become Your Own Boss Download Two FREE Chapters

Most Popular Posts

>Seven Ways to be More Profitable in Your Small Business
> 7 Ways to Attract Customers to Your Small Business
> 6 Tips for Managing Small Business Finances
> How to Run a Successful Multilevel Marketing Business
> 10 Ways to Grow Your Small Business With Instagram
> How to Sell on Facebook
> How to Get Over the Fear of Starting a New Business

Featured Videos

“12 Principles of Highly Profitable Businesses with Melinda Emerson” from Sonia Dumas
October 2020

#SmallBizChat LIVE from NYC
May 2017

MSNBC Interview
Top Tip: Never Let a Customer Down

National Speakers Association
Winter Conference 2016

Tune in to Exhale, Wednesdays at 9 pm EST, only on ASPiRE. Join the conversation at #EXHALETV

Fox Business
Five Steps to Becoming a ‘Social Media Ninja

MSNBC
The importance of job mentoring for women

#SmallBizChat Live
National Small Business Week: Q&A

Good Day Philadelphia
Expert Shares Tips on How to Become Your Own Boss

Google
Best Practice for Social Media

Testimonials

Become Your Own Boss is a must read if you’re thinking of launching a business of your own.
Jean Chatzky, Bestselling Author of Money 911 and Financial Editor of NBC’s Today Show
Great step-by-step advice for anyone looking to start their own business.
Andrew C. Taylor, Chairman, Enterprise Rent-A-Car
Melinda Emerson has written a remarkable book. It is essential reading for anyone seeking to make the transition from working girl to successfully working it, as an entrepreneur.
Cynthia McClain-Hill, Past President, National Association of Women Business Owners
The perfect companion for those planning to go out on their own. Melinda delivers firsthand practical advice on how to be the successful entrepreneur. Read it if you want to get it right the first time.
Kenneth L. Shropshire, Professor at the Wharton School of Business, University of Pennsylvania
If you are looking for a versatile speaker who can talk about how to grow small businesses or get started with social media, look no further.
Heather Van Sickle Executive Director, National Association for Community College Entrepreneurship (NACCE)
Her wit and depth of subject knowledge were entertaining and empowering. Melinda is definitely on our short list of seasoned entrepreneurs and business leaders we look to invite back in the near future.
Tennille M. Robinson Senior content & Event producer for Inc. magazine
Melinda Emerson, “SmallBizLady,” is an engaging and witty speaker and a great addition to any conference. Her terrific presentation and compelling delivery give people the information they need and want to become their own bosses and grow success… Read more
Laurie Dalton White Conference Director, Pennsylvania Conference for Women
Melinda Emerson has been a fantastic small business and social media resource for the Pitney Bowes team. Not only is she personable and easy to work with, but she also has an innate understanding of the small business audience. My marketing programs … Read more
Justin Amendola, Former VP, Global SMB Digital Strategy, Pitney Bowes

SmallBizChat

  • Twitter

Latest #SmallBizChat

Boost Your Small Business Marketing with the 4 M’s OG

Boost Your Small Business Marketing with the 4 M’s

When it comes to marketing your small business, you need to be extremely strategic to ensure that you rise above all the online noise and get the attention you deserve. On way to boost your small business marketing is with the 4 M’s: Message, Market, Method, Money. Let’s dive in and learn more! Marketing is […]

Recent Comments

  • Bada Business ibc on 5 Tips for Getting More Online Reviews for Your Small Business
  • Justin Marble on TikTok vs. Snapchat: Which One Is Better for Marketing? [Infographic]
  • sathya on 15 Mistakes Not To Make In Your Digital Marketing Approach
  • Agency Platform Ebrandz on TikTok vs. Snapchat: Which One Is Better for Marketing? [Infographic]
  • Sejal on 15 Mistakes Not To Make In Your Digital Marketing Approach

#SmallBizChat

  • SmallBizChat Archive
  • @SmallBizLady

Business Advice

  • How to Start

SmallBizLady Store

  • Products
  • Free Chapter

Get In Touch

  • Write For Us
  • FAQ
  • Be a #SmallBizChat Guest
  • Contact Us
Copyright © 2019
Quintessence Group
PO Box 280
Drexel Hill, PA 19026
(610) 352-0680
Privacy Policy · Refund Policy

Copyright © 2021 · News Pro Theme on Genesis Framework · WordPress · Log in