How to Write Business Plan on Your Own

How to Write Business Plan on Your Own

November 5, 2018

If you are starting a business or getting ready to expand, you certainly need a business plan. That's not negotiable. If you are to make your venture successful, you need to plan all of your actions beforehand in a systemised way. You do that so you can keep yourself in check every step of the journey towards your end goal. But do you really need to pay someone to write a full professional business plan for you? Not necessarily. In most cases, you will require the services of a professional business plan writer if you are applying for funding or looking for partners. However, if you are only going to use your business plan internally to track progress, I highly recommend you try doing it yourself. And in this article, I'm going to teach you how. 

 

 

 

Mission and Vision

 

The first thing you need to do when starting a business is to decide where you are going with it, who do you want to reach and what problem is your idea solving for them. This is how you build your mission and vision statements, which become the core of your business. 

 

Your mission statement doesn't need to be more than 100 words long. But it needs to effectively summarise everything your business is about, the reason it exists and the specific market it serves. 

 

  • What does your company do?

  • What is your product/service?