First, Dave Lavinsky is the President of Growthink: a company that provides strategic business plan consulting. Since 1999, Lavinsky has created thousands of high-quality business plans. Growthink has been interviewed by top media sources, such as Business Week, and has received an A-rating with the Better Business Bureau. Lavinsky offered some great advice. The first being to not let a consultant do the work for you because many times the consultant does not do it correctly. He also stated to not use sample business plans because over 99% of business plans were put together incorrectly. Also, do not use business plan software because it is a waste of time and makes you answer useless questions.
Lavinsky reiterates the fact that you need to be spending your time executing your plan, not writing it. So, in turn, he offered some business plan writing tips. The most important part of your plan is to answer the question, why are you uniquely qualified to succeed? The answer to this sets you apart from every other business out there. Another tip is to write a one-line company description, not a whole paragraph. Many times, investors reading your plan do not fully understand what your business does, so the one-line company description must be accurate and concise. Lastly, a great tip I took from Lavinsky was that multi tasking is a huge drain on your productivity (Lavinsky, 2011). It is crucial to establish a routine, work in a natural rhythm, get rid of distractions, prioritize, make good use of your time, filter your information, set goals, and have fun (Business Burrito, 2009).
Lavinsky reiterates the fact that you need to be spending your time executing your plan, not writing it. So, in turn, he offered some business plan writing tips. The most important part of your plan is to answer the question, why are you uniquely qualified to succeed? The answer to this sets you apart from every other business out there. Another tip is to write a one-line company description, not a whole paragraph. Many times, investors reading your plan do not fully understand what your business does, so the one-line company description must be accurate and concise. Lastly, a great tip I took from Lavinsky was that multi tasking is a huge drain on your productivity (Lavinsky, 2011). It is crucial to establish a routine, work in a natural rhythm, get rid of distractions, prioritize, make good use of your time, filter your information, set goals, and have fun (Business Burrito, 2009).
The second business plan expert I researched was more specifically geared towards nonprofit business plans. Stephen Windhaus is a renowned planning expert who writes for Bplans.com: a company that helps you build and grow your business. Windhaus believes that individuals should write their nonprofit business plan as if it were a for-profit business. He stated that a nonprofit must generate income to pay the bills just like a for-profit does. Windhaus recommends attending some workshops on this topic to gain a better understanding and maybe even get some counseling. Unlike the former business plan expert, Windhaus believes that a business plan should be a work in progress because it evolves over time. It could be impacted by outside factors along the way, so it is important to keep in tune with the economy and local conditions around you. Windhaus also suggests to be extremely careful when creating the financial section of your business plan because it will most likely take the most time and effort in completing (Windhaus, 2011).
Although there is a lot that goes into writing a business plan, I have acquired great knowledge from the former business plan experts. I know that as I move through the process, I will be confronted with challenges, but they offered great advice to begin the nonprofit venture. The vision and options are mine to explore.
Business Burrito (2009). Put More Time in Your Day With These Personal Productivity Tools. Business Burrito. Retrieved July 12, 2011 from http://www.businessburrito.com/personal-productivity-tools.html.
Lavinsky, Dave (2011). Business Plan Template for Your Nonprofit Organization. Growthink. Retrieved July 12, 2011 from http://www.growthink.com/products/customizable-template?s=Non%20Profit%20Organization&utm_source=google&utm_medium=cpc&utm_term=nonprofit%20business%20plans&utm_campaign=Non+Profit+Template++Search&utm_content=sgqmRlQN0%7Ckw%7Cnonprofit%20business%20plans%7Cpcrid%7C6924247601%7Cmt%7CExact%7Cpl%7C.
Windhaus, Stephen (2011). Starting a Nonprofit Community Organization. Bplans. Retrieved July 13, 2011 from http://articles.bplans.com/small-business-legal-issues/starting-a-nonprofit-community-organization/46.
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