I teach a class for Assist University, and every student is required to walk away from this program with a completed business plan. Some embrace this project as if they’ve been given the greatest challenge of their lives and others procrastinate as if you have just asked them the question, “So who are you?” This project is not meant to be a test of endurance, rather the assurance that everyone walks away with a solid foundation to his practice.

One of the first questions I’m asked is, “How do I find out this stuff for the business plan?” The answer is simpler than you may believe. All the answers are inside of you.

First you have an idea about the business you want to start. You also know the important things that you want to be true about this business; as well as the things that should never be true about your business. These things get included in your business plan.

You should research and learn as much as you can about your new business idea. Then that information gets added to your business plan as well. It should include information about your competition, your assets, your differences, and your strategy to be chosen above the others.

In my opinion, your business plan should include as much detail as you can squeeze into it. It is an active document participating with you throughout the process of creating your new business. So, as you discover something relevant, include it in your plan. Review and revise your plan often, and you will grow the business you desire.

Comments are closed.