4 Bite-Sized Tips To Create A Business Plan in Under 20 Minutes

How do you create a business plan?

Well, depending on the way you do things, you can spend days researching, days writing and you will have a well formulated plan. However, if you are like most people, no matter if you are business savvy or not, your time is probably better spent on working on your startup, versus writing your plan.

A business plan is the key to the success of pretty much any business, so you really must create a business plan.

Another way yo create a plan is to hire a professional plan writer who can take your ideas and create an excellent plan, but this costs money.

So what is the best solution? Well here are 4 Bite-Sized Tips To Create a Business Plan in Under 20 Minutes.

First Tip:

While you are thinking of your business idea, make sure you always make little notes about it. Keep in mind who your audience will be, why you think so. Keep in mind who your competitors are, what they do and why you think your product/service will be better. Think about all the good and the bad that make up a business (especially your own). Just thinking about it will store it in your mind, so when it comes down for you to create a business plan, you will be ready.

Second Tip:

While a number of people take weeks to create a proper business plan, you can take only 20 minutes. How? Well, do some research before actually getting down and starting to write. Consider learning the basics of business plans and what is asked and required. The sections of a business plan can help you figure out what is needed before you start. Along with the First Tip from above, knowing these 2 things can push you forward pretty fast.

Third Tip:

If you have a business partner, or somebody who you spoke to about your business idea/model, bring them on and let them help you create a business plan. They don’t need to write the plan for you, but being there, supporting you and helping you with ideas can help you improve your memory and speed of creating your plan.

Fourth Tip:

Consider becoming a member of CanadaStartups, and using the provided Business Plan Builder Tool.  The tool is designed in a way that you literally fill in blanks. You will be asked a number of sections, which will automatically populate each of the business plan sections. Within 20 minutes, you would be able to have a well developer professional business plan.

Before you get to writing your own business plan, consider the above 4 tips. Creating a business plan has never been easier with the availability of the tools and resources available at your reach.

Be sure to let us know your thoughts and tips on how to create a business plan.