Small Business Trends Radio

Are you struggling with the development of a business plan? Not sure where to begin? Well, chances are – you’re not alone. There are many challenges business owners, CEO’s, and entrepreneurs face when writing a business plan.

Author and Business Coach, Greg Balanko-Dickson has a unique perspective on the challenges business owners, CEO’s, and entrepreneurs face when writing a business plan.

Greg shares tip and traps from his recent book, “Tips and Traps for Writing an Effective Business Plan:”

• Start with the industry — analysis. Many begin with the executive summary or business description. That should come at the end to summarize the plan. It should not be your starting point. A detailed analysis of the industry is where you need to start.

• Get business partners — on your side. Engage them and make them part of the process by breaking the task up and sharing it with them. Use their strengths. Ask them to develop the portion of the business plan that is in line with the area they excel in. It creates a discussion by working independently and then coming together over it.

• The reality is — that if it’s a realistic plan and current for the times you are in, you won’t have to worry about the economy or recession. Be thorough, be detailed. Stay current but don’t focus on the things you can’t control when writing your business plan. Being thorough and turning over every rock during times of change can lead to great opportunities. It’s the small changes that have the greatest impact in the long run.

Ready to start writing your business plan? Listen to all of Greg’s tips to get you off and running by clicking the red and yellow player below now.

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Traps That Keep You From An Awesome Business Plan [ 30:05 ] Play Now | Play in Popup | Download