I think business owners need a plan. Of course I write them for a living, so some people will say I am simply approaching every project with the same hammer. I don’t agree. While plan outlines may differ, the process of thinking about your business is fairly straightforward.
In a recent post, Seth Godin shared what he believes to be the appropriate outline for a busiess plan. It contains only five sections:
- Truth – What is happening in the market
- Assertions – What you think you offer
- Alternatives – Possible outcomes
- People – Who will make it happen
- Money – How much will you need, how much will you make
While not as complex as other models I have seen, I think it hits the highlights.
What about you? What are the critical elements of your business plan?
Want a more detailed outline? Check out our free small business plan outline, and simple eCourse.