The Roadmap

The Business Plan

Some believe in luck, and others agree with Seneca, who said "Luck is what happens when preparation meets opportunity." If you want to build a successful business from scratch, you'll need a little of that luck - and a lot of preparation too. 

Sometimes the business is born out of a hobby that grows beyond its natural bounds, and sometimes it is cut from whole cloth, freshly minted. Whether you are starting from absolute ground zero, or you have floated some test balloons and like the result, this is a good time to lay some groundwork.

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​Having a plan doesn't mean that delays and detours won't happen, but you are far more likely to end up closer to your desired endpoint if you start with a plan, and make decisions based on the plan. To a traveler, this might be an itinerary coupled with a map. To a teacher it might be lesson plans. In the business world, this is commonly called a "business plan."

Typically, a business plan will have the following components:

•  Executive summary
• Goals and objectives
• Company description
• Market analysis
• Organization and management
• Products/services
• Marketing and sales plan
• Funding request, if applicable
• Financial projections and the basis/assumptions

So how do you get started? Much like solving writer's block, it might be best to just start writing ideas down, making lists, and jotting down questions, sources of information, and anything else that comes to mind for a short while. But be sure to block out some time on your calendar- make an appointment with yourself for a couple of hours, and get away from interruptions or distractions. Pulling all those post-its and lists together, turn off your phone, and begin.