Hi, I’m Ja Shia from Startup City, and today, I going to prepare to start and write a business plan, that will serve as a guiding document for me in business, and also give me something to look back on and track my progress. In the next couple videos, I’m going to summarize working through the various sections that, according to my research, are in every business plan such as the General Company Description, the Marketing Plan and the Financial Plan, but before I start that I wanted to identify for anyone this might help, how I started or got in a position to write this plan. First thing I did was went to the local library and see what is available, and in their business section, there were a lot of books on the subject of business planning, or startup companies. In your city or town, it’s probably a good place to go to and spend a few hours of research, but I resisted the urge to check out anything except for business planning related books and I’d suggest you do that too.
Next, I looked online for a business planning template, and there are again a lot of options, some paid and some unpaid. I decided to go with a free business plan template which you can download from SCORE. It’s a national organization that has ties to the SBA, and has home offices in the bay area where I’m located, but is available wherever there an internet connection, and I’ll leave the link below, but you might need to search for this again if the link expires.
I went through the SCORE business plan briefly and it’s roughly 150 questions designed to get you to identify areas that might need more exploration as you plan out your business idea. I’ve seen a few software templates that will do a lot of this work for you if you don’t have the time, and by all means, try them out and let us know if it works for you. I’m estimating about 3 days to complete this process, and though it’s really manual, I think the point of my business plan, is less about putting something together for investors, and more about making the guiding document that will help me stay focused, and target specific goals. I want to go through this process and don’t mind that it’s pretty manual, and you need to do most of the work.
With that said, each of the following videos will be themed by a section from the SCORE template, and I’d suggest downloading it and if you’re following along.