The One-Paragraph Start-Up Plan
During the earliest stages of starting a business, you should avoid writing lengthy plans. Instead of following lengthy traditional business plan, opt for a realistic, practical tool: a one-paragraph startup plan. It is possible to write everything there is to know about your brilliant business idea in one paragraph. A traditional business planning teaches ‘brainstorm-write-brainstorm-write-revise-revise-execute’; the goal of one-paragraph plan is to have you ‘brainstorm-write-execute-revise-execute’. There are fundamental differences between these two approaches. The traditional route would have you finalize your entire strategy based on a hypothesis without testing or validation. The one-paragraph startup plan is designed to test your hypothesis through daily experimentation. It also serves as a fluid action strategy that grows along with your startup.
Scott Gerber suggests using following five steps to write a practical business plan to launch a new company quickly.
- Answer key questions about your business.
- Write checklist
- Execute your plan
- Revise your draft plan, and
- Continue to update your plan
Break each sentence in your start-up plan into five immediately executable steps — statements you can convert into reality. Each step should move your business forward in some way.
To know more about writing effective one-paragraph business start-up plan, read the article; visit: http://www.entrepreneur.com/article/217696