I started at least a dozen business plans for Fivecat Studio, before I finally finished one. The task is overwhelming. Executive Statement? Financial Reports? Fun stuff…
The trick?
Keep it fun, follow your passion and start with one simple page.
Below are five questions. Answer each question with three sentences (no more – no less). When you’re done answering these questions, you’ll have a plan.
- What is the mission of your firms?
- What is your vision for the firm?
- What are the strategies you will use to accomplish your mission for the firm?
- What are the specific goals you have set using your strategies?
- What are the specific action plans you will use to meet your goals?
This is how I did it.
Our first completed business plan was a single page. It’s been significantly expanded since then and each year we revisit the plan, revise it, add to it and use it to keep us on course. Its been a key factor in the success of Fivecat Studio.
As an architect, you know you cannot build a successful building without a plan. As an Entrepreneur Architect, you must develop a plan in order to create a successful business.
It is too easy to get lost without a road map, and a business plan is a road map about your business. I like the book “Rich Dad’s Advisors®: The ABC’s of Writing Winning Business Plans: How to Prepare a Business Plan That Others Will Want to Read — and Invest In”. This book lays it out in a fairly easy way and makes you want to write one!
Thanks for the reminder of reviewing it every year – that is as important as writing one in the first place!