Whether you are going to use more or less simple (or more or less sophisticated) strategic analysis tools; be it by awakening your own intuition; Whether by collecting the experiences of others or by collecting and assimilating expert advice (and not so much), keep in mind that it is always convenient to have your own Business Plan.
If the title of this article appealed to you and you decided to take a few minutes to read it, then it is quite likely that you are already asking yourself: "What is that about the Business Plan?" Well, if you are one of the people who, like me, frequently follows the articles published on this site, surely, reading the summary, you will have noticed that there are other contents where their respective authors have addressed this issue when they deal with aspects related to the Business Plan.
To put it very simply, the business plan is the written presentation of the business or entrepreneurship idea, carried out according to a certain order and method that aims above all things, to help not forget anything important (that all the members of the family appear in the photo of the memory!), and so you can have an idea of the whole set (both the manager of the idea, as well as the others).
But I propose to make some small observations about the definition "light" that I have proposed. Starting at the end (although it may seem like a controversy), you have to know that it will not be easy for the business to become a reality and evolve favorably if you do not promote an adequate relationship with the environment, and that “brilliant idea” that you want to put forth is adequately displayed in practice.
A celebrated author of numerous Management and Administration books - Peter Drucker - said innovations based on a "brilliant idea" are likely to outnumber all others combined. The zipper closure (yes, we are talking about the fly), the pen, the sprays, the system to open the cans of soda or beer, are some examples of brilliant ideas that today almost go unnoticed because we live with them on a daily basis (Obviously they were revolutionary in their beginnings).
However, brilliant ideas are the source of greater risk and less success of opportunities to innovate; its "death rate" is huge, and according to Drucker himself, no more than 1 in 100 patents for innovations of this class earn enough to offset patent development costs; and an even smaller proportion, perhaps 1 in 500, earn "some" money. These cited examples are for you to become aware that brilliant ideas lose prominence over time, and that not all are "the" business of your life. Hence, the importance of having your own business plan.
And if you are still not convinced, and perhaps you are one who trusts that it is not worth wasting time writing because "I already have everything here, in my head!" And he also has a certain ability, so much to tell it with enthusiasm, perhaps with more "success" than in writing, as I am used to mentioning it in other articles.
From the start of the “business idea” to the consolidation of the resulting company over time, you will need to “tell” the idea to whoever can help you financially build it (whether they are friends, family, banks, financial entities or the government through of aid and subsidies). Yes, yes, we generally have some money to start, but it's never enough. Well, for this you need to have written what is that “brilliant idea” that you want to put into practice, in order to be able to communicate with other people and institutions and clearly transmit what you want to do (that gives more peace of mind to who will lend you the money, because remember that if you borrow, you have to pay back…).Here then the first immediate benefit of your Business Plan appears: it will serve as a business card to “tell others” about your business idea.
The second benefit of the Business Plan is precisely that it serves to "tell yourself". This is not nonsense, nonsense, "gansada" or "bolazo", or whatever you want to call it (I wrote down several concepts to be very clear). It is not as easy as it seems to have everything in mind and, in any case, it always helps to reflect the ideas in writing, following a pre-established order. When you think about it, you realize that it is not so easy to demonstrate how big or small is the market you want to enter, or the market share that can be reached in a given time, or that the costs They are not as low as previously thought (perhaps, the financial expenses, labor costs, insurance, transportation, etc. had been forgotten).
In addition, you should know that you will hardly be the only one (at least for a certain time that you will not) that carry out activities, so you must inevitably keep in mind the best-known competitors (some, 2 or 3 at least) that you will have to face. And perhaps, it has not perceived the existence of other 4 or 5 "distant" competitors that could harm it more than the best known and of which "I had no news."
Trust me. Even the largest companies are surprised when, thanks to company plans or business plans, they “find” them.
If you have already made the decision to start that venture, chances are you are familiar with how the business is “managed” in that sector.
However, it is not difficult that, after the corresponding systematic reflection on how current competitors are innovating in order to survive, it could identify some behaviors that draw attention, and which were not known before, and which, either copying or adapting, can give clues to improve your competitive advantages.
The Business Plan can follow various scripts or forms. There is no single and definitive format. In themselves, they do not differ much from each other. In any case, it is important to keep in mind from the beginning that it is a serious, profound, expensive and also dynamic exercise. With this I want to tell you that you do not intend to write a Business Plan in a weekend.
It will surely take a few weeks, or months. Still, it is a good investment. Always try to look with the perspective that the company you are creating will have to last for many years, that it will give satisfaction and money (and if that is what it is) to its creator, its workers, its customers and the community in which it is created. is going to be located.
You should also keep in mind that in addition to the time, you will have to have some financial resources, especially in terms of analyzing the market and the competition, for which perhaps you should buy some specialized business magazines, perhaps some commercial reports, Or you may order part of the work from a professional or a consulting company.
Planning is a dynamic exercise, which means that the starting point, the elements that make up the Plan and its final result are constantly changing. Do not claim that once you have finished writing the Business Plan, however careful and professional it may have been, it will remain unchanged for a long time. So is it worth the effort? Of course yes. It is more, precisely because the environment is in continuous evolution, it is much more necessary to have a tool that serves as a follow-up and monitoring of the results obtained compared to what was planned. And this is the third great utility or benefit of the Business Plan, which is as important as the other two explained above.
The most important thing here is not quantity but quality. Although it is a Plan that talks about the future, and not a story, a narrative that describes the past, what the Plan contemplates must be reasonably supported by good information, collected directly or indirectly, through publications, studies, articles, commercial advisers,… etc. And also through direct research carried out in the field in which it will operate.
