Writing A Homebased Business Plan

Actually, its all the more reason to have a business plan.

Do you need a comprehensive 500 page business plan full of color graphs and charts and color 8 x 10 glossy photographs, going into gory detail and providing a 5-year and 10-year projected income statement? No, not really.

But you do need a business plan which is complete enough to anticipate typical problems you will face and provide solutions to overcome them

When I was a young soldier I learned The 6 ‘P’ Principle – Prior Planning Prevents Piss Poor Performance. This has been genteely modified to The 5 ‘P’ Principle for drawing room society!

Starting a home based business without a plan is like choosing the Wrong way.

Starting any kind of a business requires a “plan of action”. This is doubly true of home based business ventures if for no other reason than the added complexities of home based business operation.

You are starting your business. You need a plan.

Your very first consideration must be: “What business am I going to be in?” Are you selling apples, oranges, pencils on the corner, what?

A couple of more questions quickly come to mind. “What kind of space am I going to need for shipping? Inventory? Office? Pick-up and Delivery?”

We already have 5 questions to ask –- and answer – and we have skipped the first question for a homebased business altogether.

The number one question which needs an answer: “What kind of zoning exists in my residential area which might affect my home based business?”

So back to our first assertion: Do you need a comprehensive 500 page business plan full of color graphs and charts and color 8 x 10 glossy photographs, going into gory detail and providing a 5-year and 10-year projected income statement? No, not really.

But you do need a business plan which is complete enough to anticipate typical problems you will face and provide solutions to overcome them

But do not get into the belief system that “This is easy, I can just put down a few words, an outline sort of, and knock it off in a few seconds!” Hah! Not on your life, you can’t. This will be the most important document in your business; it will be something you refer to often to see that you are still on the right track, doing the right things the right way – or seeing if you may need to re-write your business plan?

What you write now will affect your entire business. And I strongly recommend getting outside help on your business plan. No, you do not need to hire some professional writer with a PhD for umpteen thousand dollars to create your Homebased business plan.

But what I would suggest is: first, jot down those notes that you were going to make, go over them, adding and crossing out as needed, until you have a pretty good idea of what, why, when, how and where? Then go to your local campus of Community College, University, Business College, and check into the classes on writing business plans. Yes, they do have them. See if you can’t give your start-up business to the students as a “school project”?

These projects often are accepted as class projects. In fact, classes frequently to out into the community and seek out real businesses to write business plans for, as class exercises. It will prove to be an invaluable lesson for both the class and yourself. The class will get a real life project and you will gtet a first class business plan. Free! And it will be “your” business plan, created for you and from your notes.

It’s a great place to start! And it could just be the best business decision you ever make?