What is a Business Plan?
A Business Plan is a written document that describes your core business objectives and how you plan to achieve them over a set period of time. It is designed to help you, and others, understand how you plan to generate money and make your business sustainable. A Business Plan often includes information about your goals, strategies, marketing and sales plans and financial forecasts. Read on below for more information about the key sections of a Business Plan.
Starting a business is no easy feat, and at the backbone of every business is a solid business plan. Before those words scare you, you'll be happy to know there's a simple way to do this.
In this video, Entrepreneur Network partner Patrick Det-David explains how to write a one-page business plan.
There are two ways to go about writing your business plan: Spend six or more hours a day detailing out a plan and reading it over every month -- or, gather all of the information and knock it out in one page.
If you chose the latter, here are some quick tips to help. Think of your business plan like a relationship, and brainstorm everything that's connected to it (goals, financial health, interests etc.). Write down the various categories that you've just listed and begin researching each -- what can you change? What can you add? These things are the core of your plan.
After you've written those things down -- you're almost finished. Add a title and review and revise your plan daily.
To learn more, click play.
Watch more YouTube videos from Bet-David on his channel and check out his new book Drop Out And Get Schooled.
Related: How to Strategize as an Entrepreneur
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