Simplified Business Plan

Simplified Business Plan-5
[…]I did this with The Simple Dollar (back then, I used a business plan book from the library rather than [the] great SBA resources that exist today) and with many other small businesses I’ve dabbled in.

[…]I did this with The Simple Dollar (back then, I used a business plan book from the library rather than [the] great SBA resources that exist today) and with many other small businesses I’ve dabbled in.

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Send each one to a few people and get their feedback.

Send them to people you trust and whose advice you trust and take their comments seriously.

A couple of readers even sent in business plans for their side gig for me to look at. I wrote a few personal responses, but then I quickly realized that it made more sense to put together all of the information in one single article to share with everyone.

The clear consensus among these readers is that they saw the value of the idea of a business plan for their side gig, but that they wanted more guidance. What follows is a guide to assembling a business plan for a small side business.

The more people you get taking action on the right objectives, the faster you achieve your goals.

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You can use our The business tools we received from DE Inc. Concise, informative, and comprehensive, the planning templates were exactly what we needed to get our thoughts down on paper and establish a concrete direction for our organization.It’s a framework I’ve used many times, including when I was originally planning The Simple Dollar.The value in writing such a plan is that it forces you to think about these issues before you even start so that you don’t throw yourself into a plan that’s doomed to fail.This doesn’t help you organize your day-to-day actions.If your day-to-day action don’t get done then the result is you won’t meet your annual business goal and objectives. Delegating actions is a key to creating business self-sustainability.Remember the goal of a small side business: It’s all about creating another revenue stream for you, giving you more income while you still have a main career and possibly giving you something to fall back on if you decide to move away from that main career.First, we need to cover a few ground floor assumptions.They might be really negative on an idea that you think is great, but rather than just brushing it off as “jealousy” or something, stop and listen to what they’re saying.Often, the good people in your life are critical of something you’re doing for a reason – they may be seeing something you’re not seeing due to your own blind spots.I’ve walked away from many ideas after writing a business plan, and for good reason – they would have turned into black holes of time and money, slurping away all of those resources and giving me little in return.Once you’ve written up a business plan using these ideas, pass them around to some trusted family members or friends or mentors.

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