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Developing a Business Plan: Putting It All Together

We've dedicated six months to dissecting and analyzing each section of a written business plan. Why? Because the success of any venture, whether it is a business or a personal goal, depends on having a written plan that serves as a map for getting to where you want to go. For instance, a common New Year's resolution year after year is weight loss; even I'll admit it, this has been a goal that's frequented my list for a couple of years consecutively. Yet, as much as we begin the year with the fire and the motivation to begin fresh and loose weight, we fall off the weight loss path in a couple of months. A large reason why many fail is because they don't have a plan on how to get there. I don't mean one of those, "go to the gym every other day" plans, but a written plan on how and by-when they plan on loosing their goal weight. The same exact thing applies to every business.

Picture this scenario: A recent college graduate has walked off of the path of education and is ready to transition onto the "real world." Now this graduate isn't your run of the mill student, this person doesn't want to enter the typical corporate office and instead has spent a large portion of time coming up with different business ideas. One of these ideas sounds excellent and he's pretty confident that it'll be successful. So successful in fact, that he believes that in the first year he can break $1 million in revenue. Sounds like an ideal situation so far, right? Well, he actually has a problem. He doesn't have the money to fund the project and is looking for investors. If you know anything about investors then you know that any investor he approaches is going to want an important document before even scheduling an appointment with this entrepreneur; they'll want to see his business plan.

If you are thinking, "No problem, my business is already established, having a business plan doesn't apply to me." Think again my friend; you too need a business plan. What's your revenue goal for the year? What's your goal for next year? Is there a market that you haven't saturated yet and want to pursue? Think of all those excellent business ideas that run through your head every night right before you fall asleep. Want to put them in action? Then you need to update or create a business plan. Now do you understand why we've dedicated six months of our lives drilling the importance of every section of a business plan? If you have not started working on your business plan and would like to review our past issues, please click here.

The assumption made for the rest of this article is that you have completed every section of your business plan and are ready to put it all together, (to view the CNLB Business Plan Outline, please click here. How you present the plan is just as important as the actual drafting of the plan. The presentation of the plan can be compared to the first impression of an interviewee. Picture a person interviewing for a position within your company. The person walks into the office in a business suit only his tie is coming undone, his shirt is sticking out of his pants, and his hair has the "just got out of bed look." Before reading his resume and finding that he's a Harvard graduate with all the qualifications the position is looking for, you've already placed judgment on the guy and are not likely to hire him. The same applies to a business plan. Even though we've all heard the saying, "don't judge a book by its cover," the harsh fact is that people still do. In addition, if you've delegated certain sections of the plan to different team members, now is the time to exchange sections, proofread each other's work and get a feel for everyone's writing style so that you can get a final product that flows.

When working on the presentation of the business plan, here are some things to keep in mind:

• Proof read, proof read, proof read: Remember, this plan is like an interview. If there's a flaw, it'll be a magnet for attention. Also remember that you don't have to do all the proofreading on your own. Sometimes, the same eyes going over a document can work against you. Instead, have different team members read different sections of the plans that they DID NOT write. This opens up the opportunity for a new set of eyes to catch whatever might have been missed.
  
• Formatting: Do you have a formatting theme? Is this consistent throughout every section? Does the formatting you've selected help or hurt the reader? Keep in mind that you want to keep your readers attention, not distract him/her.
• Designs: Do you have a company logo you would like to include? Are there graphics that could drive the point that you are trying to make? Whatever designs you use should not make the page look cluttered, but should help make the plan look professional and appealing to the eye.
• Color scheme: The color scheme you use could match that of your logo. Whatever color scheme you choose, make sure that it's not overkill or makes the document hard to read.
• Formatting your index & appendix: Whatever designs, graphics, or color schemes you choose for one page of the appendix or index should be concise with the rest of the section. For clarification, the appendix is additional material at the end of your plan. This material includes and is not limited to: graphs, financial statements, sales forecasts, charts, etc. The index is also located at the end of the plan, (behind the appendix). It contains an alphabetical listing of the different sections/topics of your plan along with the page number that this information is located on.

If your finding yourself reading this section thinking, "I'm not a color/format expert and this does not sound like any fun to me," then always remember, you have a team that is there to help and support you… ask for help!

Now you have your business plan printed and bound, what's next? Now it's time to implement the plan! All the time, energy, and effort that has gone into writing the plan shouldn't be wasted by simply filing the plan. You want the employees to embrace the plan and use it as a guide to successfully work towards the common company goals stated in the plan. You could do this by:

• Giving a copy of the plan to each employee
• Holding a company meeting to present the plan and the company's vision
• Scheduling weekly, or at least quarterly, meetings to review the company's progress and to determine what ideas from the plan have worked and what needs improvement.
• Keeping the plan visible. Don't put it on the top shelf of your bookcase. Leave a copy on your desk. In fact, have a copy on the desk of every executive of your company. By having it visible it's a reminder to use the plan as a vital tool for your company. Remember, your business plan is not to be used as a door stop.

We hope that the articles we have provided in writing a powerful business plan have served as assets to your company's planning. We are confident that if you access and use your team, delegate, and have fun in the process, then writing the plan will seem less like a chore. As you add the finishing touches to your plan and get ready to present it to the rest of your team, remember to keep the plan alive and visible. Business plans could be vital lifelines to any company, but only if you make it.