All You Need is a Simple Business Plan – Do not Overwrite

A common set of misconceptions among people writing a business plan for the first time is that it has to cover everything, that it has to be perfect and that is going to be read cover to cover. None of these ideas is actually true.

An experienced entrepreneur knows that most original plans turn into something else once they are actually put into action and also that most of what is initially put into the plan turns out not to be the case. It makes sense therefore to only spend the time to put in the essentials in the plan a create a simple business plan instead of an encyclopaedia full of information that will never be read.

The benefits of keeping the business plan simple are many – you can write it much faster, you can revise it more quickly and you do not waste a lot of time creating information that does not get used.

Of course in order to be effective a business plan has to be complete enough to address the basics of starting the business and that includes demonstrating the value of the solution the business will provide and how many people have that particular problem and how many of them are Out there. The plan should also give some details on how the market being addressed will be reached so that they can then decide to purchase this solution.

All in all, a short, simple plan without a lot of fancy prose or long winded explanations is not only going to prove more effective it also stands a lot better chance of being read. Very few investors or bankers have the time or inters tot sit down and read a fifty page plan but they may very well at least skim through a ten page plan written in a straightforward style that gets right to the point.