● Pitch It
This may sound weird because usually a sales pitch is done AFTER finalizing the plan, but this is one of the biggest hacks to shorten your business plan development time. Create a one page pitch (it should take you 30 minutes) and you’ll have a better idea of how you need to need forward to meet your requirements. This will help you better understand how to frame your business plan. A one page pitch is also easier to share, read and update, so try this the next you want to make a new business plan ✅✅
● Sell a Solution, Not a Product
The most important step in the business planning cycle is understanding the problem you are trying to solve. You need to understand the opportunity you are proving and explain it in your business plan. If you can’t show that your business exists for a reason and needs to fill a space, you’ll have a tough time raising money and growing ⬆ your startup. Interact with your clients more and use other tools such as feedback forms to get a real handle on their problems!
● Do the Math ➕➖➗✖
Budgeting and thinking ahead won’t be the most fun part of your day, but if your numbers don’t add up, your business isn’t going to work ❌. Also if you are looking for funding or a loan, you need to have an idea about your costs, expenses 💰 💰 and projected returns. Find a way to work your finances into your business plan and you know you’ve got a better idea about your business ✅.
A good business plan can be the difference between success and failure, so do it well and do it right