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However if your business is fairly complex, if you have a lot of products or services, if you have a highly active competition, if your life-cycle is in the introductory or the declining phases, do as much of this business plan outline as possible.
Outsource some, or all, of the work if necessary: this means do what you can yourself (if you want to) and have a consultant or business plan writer do the sections that you can't do, or don't want to do.
There are many reasons to write a business plan and how you write your plan depends a lot on why you want to write it.
Here's what I recommend: do the key elements of the plan to start your business or if you haven't done a plan or updated a plan in a long time (key elements will be in in the business plan outline below).
To do a comprehensive business plan, if you spend 8 hours a day writing and researching, it will take you about 30 to 40 business days to do it.
Yes, as you can see by this business plan outline, this is a big investment of time. I am also often asked how much it costs to write a business plan.Then each year when you update your plan, add another element or two.Often the updates will not take as much time as originating the work or the research - and the numbers should be tracked by your system as your business operates.Ensure your Business Financial Plan includes a provision for emergencies.Your Business Exit Strategy needs to include management succession planning. Once you've built your plan, you need to implement it.Developing your strategy (in the plan) is the first, necessary, step.You need to know the direction you want to go, and you need the strategy and the plan to help you get there.Then evaluate your most popular and top selling products and use this information to determine what you stock.You may want to consider also creating a budget to best fit your limiting factors when taking results from income statements.If you are looking to start a business, or expand an existing business, you can begin with a basic business plan that will start to sharpen your focus and get you off and running.Start by creating and tracking weekly balance sheets and income statements.