Posted on February 3, 2016
Questions to Ask when Writing a Business Plan
So you know you need a business plan… now what?
Whether you’ve signed up for a business plan workshop or are sifting through Business Plans for Dummies, it’s important that you develop a list of business plan questions that you want to make sure are addressed in your plan. This will help you stay on track in including any pertinent details that you may forget when caught up in developing your business plan, and will help remind you to stay focused, and as honest and unbiased as possible in your plan.
Sample questions include:
- Who is my target audience – and am I being as focused/detailed as possible (or overly focused, possibly missing potential market)?
- How will/does my business differ from the competition, and are these selling points?
- What are my strengths and weaknesses as a business owner? Are any of these unique? How do I address and/or utilize these as a business?
- What types of employees/skillsets should I hire to compensate for my weaknesses, and how will I go about recruiting, motivating and retaining them?
- What are my goals for growth, and are they realistic?
- What level of commitment am I expecting of myself, and of any others involved?
- What points of accountability will there be company wide?
- What challenges do I foresee my business having to face, and what other challenges/obstacles are possible? How do I plan to tackle them when/if they do occur?
The list of questions can be endless, depending on your own unique needs and challenges. We’ve found that it’s best to develop a business plan amongst a group of peers and industry professionals, so that you can learn from questions others ask, and get any new questions answered that will undoubtedly come up along the way – making business classes and workshops much more helpful with their hands-on work and learning, vs. hoping you get it right with a generic template.