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Hault: Write a Business Plan

by maxrezn
8 replies
There is always a huge rally for taking action and taking the first step here which is great. It gives people the necessary "snap out of it" trigger that they need. The "Just Do It" approach involves a lot of excitement to make that first sale and get the checks rolling in, but very little examination of the actual business model.

I don't think enough emphasis is put on planning and the creation process of a business plan here. Let me reiterate that I don't think the actual business plan is necessary for 98% of you...but the PROCESS of writing that business plan is crucial.

Writing a thorough business plan causes your brain to strain, project, and calculate. It serves as a reality check, helps you make decisions, and can give you new ideas. Even though it really sucks to go into Word and hammer out 3000+ words over the course of a few days...you will thank yourself for it.
#business #hault #plan #write
  • Profile picture of the author iAmNameLess
    Originally Posted by maxrezn View Post

    There is always a huge rally for taking action and taking the first step here which is great. It gives people the necessary "snap out of it" trigger that they need. The "Just Do It" approach involves a lot of excitement to make that first sale and get the checks rolling in, but very little examination of the actual business model.

    I don't think enough emphasis is put on planning and the creation process of a business plan here. Let me reiterate that I don't think the actual business plan is necessary for 98% of you...but the PROCESS of writing that business plan is crucial.

    Writing a thorough business plan causes your brain to strain, project, and calculate. It serves as a reality check, helps you make decisions, and can give you new ideas. Even though it really sucks to go into Word and hammer out 3000+ words over the course of a few days...you will thank yourself for it.
    A business plan contains projections, how can you have projections if you have no sales? I like writing business plans, I have a couple and change it regularly. It DOES help, but in a way most people on here don't find relevant because they're small thinkers.

    I don't know if this advice should be taken, but I wouldn't waste time on a business plan until you have a couple months of consistent sales. If you're focusing more on investments then a business plan is necessary before starting, but if you aren't in VC district then what's the point? Lol.

    I like it because I can guage my competition, estimate market, see what can be improved on, how to cut expenses and gain income, etc.

    A business plan is only good if there is action behind it. Otherwise, it's just a plan, a pointless plan.

    A business plan based on results and experience is a useful tool.. a business plan based on thoughts and beliefs is a time waster.
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    • Profile picture of the author maxrezn
      Originally Posted by iAmNameLess View Post

      A business plan contains projections, how can you have projections if you have no sales? I like writing business plans, I have a couple and change it regularly. It DOES help, but in a way most people on here don't find relevant because they're small thinkers.

      I don't know if this advice should be taken, but I wouldn't waste time on a business plan until you have a couple months of consistent sales. If you're focusing more on investments then a business plan is necessary before starting, but if you aren't in VC district then what's the point? Lol.

      I like it because I can guage my competition, estimate market, see what can be improved on, how to cut expenses and gain income, etc.

      A business plan is only good if there is action behind it. Otherwise, it's just a plan, a pointless plan.

      A business plan based on results and experience is a useful tool.. a business plan based on thoughts and beliefs is a time waster.
      I agree with you on some points, such as thoughts and beliefs in a business plan are far less valuable than hard market research and competition analysis.

      Business plans are definitely not for small thinkers or those just doing this is a side gig. For anyone who wants to pay their mortgage and feed their kids with a business they want to start providing SEO or Reputation Management or what not...I'd say it's pretty valuable to sit down and pull together information on competition, lead generation strategies, and marketing strategy.

      It's one thing to have an idea...but once you put that idea down on paper...the chances of it becoming reality go up significantly.
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  • Profile picture of the author bhuff85
    I think the reason why many people around here push the "take action" message is simply because A LOT of people remain stuck in the business plan phase. In other words, they spend all of their time tweaking and modifying a plan before they even put that plan into action!

    For me, I prefer to have a rough outline to get the ideas and the process down. From there, I adjust my "plan" as I start working on it. I could sit and make projections all day, but it won't do me any good unless I actually start moving my wheels.

    If you were opening a large business that required a hefty capital investment and wanted to get a loan from a bank, then yes - you need a well-prepared business plan. For most of what folks are doing around here, however, a simple outline that you can modify as you go is usually enough.
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    • Profile picture of the author David Miller
      Iamnameless, it's rare that I would disagree with you. But in this case I find myself in that situation. But I believe it may be in part due to differing definitions of a business plan.

      Depending on circumstances, business plans serve very different needs. If you are looking for venture capital the plan must be loaded with marketing data and anticipated market share. Costs of marketing, sales, production and overhead and on and on and on.

      I think for the purposes set forth here, we're speaking of something far less complex. Perhaps for many of us, we are experienced enough to have the basic grounding required to make a decision to sell a particular product or service. We have the experience to set things in motion and know when it's time to evaluate and redirect efforts. The type of business planning you speak of in your post.

      However, someone who decides they want to sell websites, for example, may very well need to spend a small amount of time to develop a business plan. But more appropriately a business plan of action.


      I want to sell websites:
      • Who do I want to sell them to
      • How will I sell them - phone, face to face, direct mail, email
      • How much will I charge
      • What will the site consist of
      • What other services will fit with my initial offer
      • etc.,etc.
      Of course, hardly a complete list, but certainly not a waste of time. On the other hand, you have to be able to recognize when the plan is done and when it's time to take action.
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      • Profile picture of the author iAmNameLess
        Originally Posted by David Miller View Post

        Iamnameless, it's rare that I would disagree with you. But in this case I find myself in that situation. But I believe it may be in part due to differing definitions of a business plan.

        Depending on circumstances, business plans serve very different needs. If you are looking for venture capital the plan must be loaded with marketing data and anticipated market share. Costs of marketing, sales, production and overhead and on and on and on.

        I think for the purposes set forth here, we're speaking of something far less complex. Perhaps for many of us, we are experienced enough to have the basic grounding required to make a decision to sell a particular product or service. We have the experience to set things in motion and know when it's time to evaluate and redirect efforts. The type of business planning you speak of in your post.

        However, someone who decides they want to sell websites, for example, may very well need to spend a small amount of time to develop a business plan. But more appropriately a business plan of action.


        I want to sell websites:
        • Who do I want to sell them to
        • How will I sell them - phone, face to face, direct mail, email
        • How much will I charge
        • What will the site consist of
        • What other services will fit with my initial offer
        • etc.,etc.
        Of course, hardly a complete list, but certainly not a waste of time. On the other hand, you have to be able to recognize when the plan is done and when it's time to take action.
        I have a 40 page business plan that I cut down from over 90 pages that is a very exhaustive plan of action, numbers, statistics and goals.

        Of course EVERYONE needs a plan, of some sort. To spend days or weeks on a business plan of many pages is something I don't think they should waste their time on until they know this is a business they want to be in. Don't waste your life away writing an inactive plan if you can't even get a sale. There is no business if there are no sales.

        I think every business should probably have one. I don't think every opportunity seeker or hobbyist should have one because it's a waste of time. Data doesn't make you pick up the phone, it doesn't make you advertise, it doesn't make you push forward. It sits there waiting for someone who is an action taker to be able to utilize it.

        I think we're disagreeing only because of our own perceptions of a business plan.

        To me...

        You have a business plan... a comprehensive, full blown business plan that includes projections, sales, past sales, plan of action, marketing plan, expenses, etc.

        You have a discovery plan.. Who are you, what do you offer, how do you get in front of people that need what you offer.

        You have a sales acquisition plan... cold calling? Emailing? How to create a great sales funnel, pitch creation, unique selling point, etc.

        You have a planned list, so you can start selling to see if this is a business or a failed venture.

        Know what I mean?

        There is definitely a difference between a real business plan and a list of things you can do to define and promote a business idea to see if it's right for you. I went overboard on my business plan and cut it down to 40 pages, lol. My business plan is very good, and I always change it because goals are always changing. It took me a couple months to knock that out. I don't suggest anyone spend any time on a "formal" business plan until they know if they can handle this business or not. A lot of people get motivated on here and PLAN PLAN PLAN but never DO anything about it.
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  • Profile picture of the author Leo Wadsworth
    Sounds to me like a case of violent agreement here.
    • At each stage in the life of a business BOTH planning AND execution are important.
    • At early stages, more minimal planning is appropriate. As the business grows and matures, and especially when it is desired to take it full-time, then more planning is warranted.
    • Some folks rush in without any plans or understanding of business realities. They're heading into trouble.
    • Lots more folks get stuck in planning phases and don't step out like they need to do. They won't succeed because they don't start.
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  • Profile picture of the author Teez
    Truth of the matter is most (NOT ALL) people are in the backs against the wall phase
    They need money and know ''the internet'' is a way

    The only plan they focus on is call people who don't have a site see if I can sell them one
    Call people on page 4 for this keyword see if I can get them to hire me and then ill do the seo for them.

    More often than not this is the reality ''if I can just get 10 at £150 customers I can then settle down and draw up a plan.

    Not all but the majority are in this mindset till they know at least the residual income will pay rent.


    So this is the process many will follow

    read wf : take action :get rent money :then sort a plan out

    But if there's one thing to be read on wf at the outset its this:

    http://www.warriorforum.com/offline-...s-nothing.html
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  • Profile picture of the author jewelraz
    Great idea you have given. Very well said. you also have a beautiful quote in your signature.
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