Updated: Sep 14, 2022
When we think about starting, growing or scaling up, writing a business plan hardly fills one with joy at the prospect. The NBWN has asked its members to share their experience of writing their business plan and the benefits it provided.
Throughout the month, we aim to empower, educate and ensure our next generation of entrepreneurs take an alternative look at taking their business aspirations to the next level.
Getting the Right Advice
There are a wide range of specialists, consultants and agencies that provide support when it comes to writing your business plan; however, it’s vital that you do pre-market research in order to get the best out of the experience.
Writing a business plan should match your goals. Don’t overcomplicate the process e.g. lean plans work just as well as a full blown ten-year version. The key is to ensure the plan works for your business.
If you are new to the experience, download a few free versions until you find one that matches your needs. Seek professional advice at the earliest opportunity.
Not only do they offer specialist expertise, but act as an informal mentor, ensuring that you remain on track and accountable for accomplishing your goals in a more disciplined and strategic way.
Working solo does have its benefits, but it is a good idea to be part of a network, peer or mastermind group to take your knowledge to the next level.
Participation (and often investment) means you are able to share issues, overcome challenges and build valuable relationships in order to remove the roadblocks and stigma that could delay your progress.
The Benefit of Inclusion
In a rapidly changing business environment, it’s fine to admit you don’t know it all! By being part of a group of like-minded individuals, you will receive real life, pragmatic and tested solutions (and ideas) to frustrating issues you may be facing at the time.
There are countless examples of entrepreneurs who have a great story to share about their ‘journey’ which will help to inspire readers and entrepreneurs alike.
By reading about their experience, it helps you to take a fresh look at the direction and goals of your business.
Let’s be honest, writing a business plan does not invoke the same excitement as producing your marketing and PR strategy (for some) or designing your logo. However, there is a general consensus that once completed, writing a business plan is both rewarding and fun!
During Celebrate Write a Business Plan month, the NBWN will be sharing the motivating stories of entrepreneurs in Spotlight.
Irrespective of the size of your business or the sector you operate in, these case studies aim to support your long term vision of success.
Keep up to date on NBWN activities by subscribing to https://www.nbwn.org/joinus