So, you have an idea for a new business venture and you are excited. You can see the business in your mind but don’t really know how to begin to make it come to life. What you need is a plan, but how to write a business plan for a small business is the big question. The simple answer is to “paint” the picture you see in your head onto a business document so that others can see what you see. This business document becomes the black and white tangible way to share your vision with the business community.
It will consist of several components that will help to verbalize the purpose of your business, the goals of the business, and how you will conduct that business. It will need to discuss the current financial health of your organization, what financial resources you will require to be successful and how those resources will be utilized to produce that success. It will require you to demonstrate that you have conducted a market analysis that indicates your potential success and describe the marketing philosophy you will employ to realize that potential. All of these segments are the fine brush strokes, or details, of your broad picture.
The details provide the substance that is needed to bring the abstract idea into focus; however the vision is what makes it come alive. There are many technical templates that you can follow to physically put a business plan on paper, but the answer to how to write a business plan for a small business really is to simply paint a picture.