I promise this will be quite unlike any self-help guide you’ve ever read. This works. Loosen that tie knot, type in your resignation letters, and get ready to create your own business plan.
It won’t take that long, and if you aren’t too convinced with your idea/the advice, just don’t print your resignation, and get back to work tomorrow. Simple, see.
Disclaimer: This article uses strong comments to convey a comedic/realistic definition of how a business plan works. If you’re easily irritable or think yours is perfect, don’t read on. We love all people, and are not trying to act smart. K. Bye.
Now, to business!
What’s a B-Plan?
The sole reason for the existence of the B-Plan is to convince the investor yours is an awesome idea, and to convince them that the only place they can get it from is right there in your pocket.
They might have seen ideas similar to these, but yours is better.
Get the drift?
Why write a B-Plan?
You basically take what’s already sexy, and make it look better.
Why write it? A B-Plan forces you to see what you know, and what you don’t. It’s the document that forces you to live by it.
You can’t lie to it, ever. Also, you’re 33% more likely to succeed.
How long does it take?
You’re allowed to spend two weeks on a B-Plan, not a second more. What’s more important you ask? Going out there and doing the damn thing. There will be a hundred different versions to your B-plan. Nothing you initially think will turn out the way you planned.
When you have a new idea, don’t re-save. Create a whole new version with a new date.
One Sentence Rule:
I met Jim Beach during his trip to India, and he introduced me to this. If you don’t know him, Google Baba Zindabad (Long Live Google)!
You need to be able to tell what you’re selling in just one sentence. Get that one sentence, and start with it. Every following sentence on your B-Plan will just reaffirm that statement.
I won’t have understood (same as you) if Jim hadn’t explained with an example:
Imagine you have a trucking question.
Q: What does your startup do?
Option 1: “Well, it’s a trans-global monetization…blah blah blah of the transportation industry…blah blah blah… It’s designed to…blah blah blah…online variable resource management system…extended on to the Internet through…blah blah blah! *Investors snore*”
Option 2: It’s Uber for Trucks.
Which one would you fund? Investors need to go back to their wives/ husbands/business partners and brag to them who they funded. Give them that something.
Stress on the Facts:
Nobody invests in ideas; they invest in the flesh-and-blood human being. You can’t side-step anything you stood by with the excuse that the idea ditched you. It only means you’re messing with their money, and they’ll grab you.
Make that clear in the Business Plan, and you’ll get the funding.
I asked good ole Jim for some help with his Trucker. Here goes:
· I’m a trucker for 30 years
· I’m a trucker for 30 years with 12 years relevant experience
· I’m a trucker for 30 years with 12 years relevant experience and already have 5000 subscribers.
Now we’re getting sexy!
Just Do it Better!
Creativity helps you stumble upon that awesome idea one day at the bar. However, the reality is that creativity ain’t going to help you complete tasks before deadline, plug logistic loopholes and impress
You need to get your hands dirty, and get stuff on paper to impress people who’ll hand over their cash to you.
For the final time, I asked Jim for an example from his life. He gave this:
· I run a Summer Camp
· I run a Summer Camp at Stanford University
· I run a Summer Camp at Stanford University sponsored by Intel and Microsoft
· I run a Summer Camp at Stanford University sponsored by Intel and Microsoft that will make your kid happy
· I run a Summer Camp at Stanford University sponsored by Intel and Microsoft, that will make your kid laugh
· I run a Summer Camp at Stanford University sponsored by Intel and Microsoft that will make your kid laugh her heart out, and he/she will have a best friend
People are bound to see the value in that!
NEVER over 30 Pages
Your B-Plan should never be over 30 pages, and that includes 10 pages of financials. The 1st page MUST have your contact information.
Investors don’t have the time to read a huge B-plan. Here are your sub-sections:
· Problems We Solve
· How We Solve the Problems
· Target Market
· Market Size
· Exit Strategy
· Financials
Make important information eye-catching with blowouts, graphs and images.
Worried about the language? Don’t. Shakespeare isn’t going to mark your B-plan for literary excellence.
It should be easy as hell to read. It should be like a story – Beginning, Middle and End.
In Business Parlance it - What’s the Problem (Beginning), Solution to the Problem (Middle) and lastly, How you make money solving that problem (End).
It didn’t read too well, did it? Believe me, this is some of the most real advice anyone can ever give you when it comes to having a
Now fly!