Begin with the end in mind! A plan in your head is good. A plan on paper is even better.
The value of having a good plan lies in its usefulness to help you make better decisions. It takes time to tease out the details of your thinking and put them down on paper. Whether you develop a business plan before you get started in business or after you’ve been in business for years, wrestling with the unknown is part of the process. It is actually exciting to explore ideas and test products because there is less risk.
Fortunately there are resources and business technical assistance available to entrepreneurs who want to learn the nuts and bolts of planning out a business strategy.
Step 1: Minimal Viable Product
Consider developing your thinking around a business model canvas, thinking through your ideas on paper before writing your plan
Step 2: Test, Test, Test
Are you satisfied with the response to your product or service from the market? If not keep tweeking and testing. The time you spend working diligently to your market is worth so much.
Step 3: Field Research and Planning
- Outline for building your business plan (Small Business Administration)
- Business Plan Template (SCORE)
Local resources that can assist you plan your business can be found by searching the Resource Navigator.
The best thing about having a business plan is that it is a tool for you to test your assumptions, better understand your marketing strategy and will enable you to revisit and refine your plan overtime to determine if your business is on track for your goals.