New workbook eases trauma of writing a business plan
Lenders, investors, SCORE counselors who have fought many of the battles you're fighting, staff at the Small Business Development Center, they virtually all say the same thing: whether an existing business or a start-up, you need a business plan.
Why, then, do so few business owners actually have business plans?
"They're scared about writing a business plan," says Susie Dressler, owner of her own business, Health Claim Assistance in West Chicago; a former president of the SCORE Fox Valley chapter, which provides free small business consulting at seven locations in DuPage, Kane and Will counties; and current head of the SCORE consulting program at College of DuPage, Glen Ellyn. The task, Dressler says, is intimidating.
But, thanks to Dressler and, especially, SCORE volunteer Don Urbaniec, the task has become a bit less intimidating. Urbaniec, a retired marketing executive who has owned four small businesses, has taken the three-page business plan outline "that was part of the literature I handed out" as a SCORE counselor and expanded it into an eight-section, 43-page loose-leaf workbook intended to make business plan writing easier.
The workbook, which debuted at a SCORE seminar in Elmhurst last month, is not perfect. Its value comes from the comments Urbaniec supplies - explanations that help the business plan writer understand just what's required and why. Excerpts from the workbook, with minimal editing from me:
• "A business plan is the result of a thoughtful (your thought process) analysis of a market and the business resources to service that market. The plan helps you identify reasonable, realistic strategies and acceptable levels of risk. The plan identifies the facilities, equipment, personnel, supplies and money required to operate the business."
• "Describe the specific competence that gives you superiority over your competitors - what makes you different."
• "The key to your sales. . .is to ask yourself - what are you offering your customers? Why should they buy from you versus your competition? Why are you unique? Finally, how can you get them to buy NOW?"
• "When will you need money? How often?. . .Your business taxes are due on a quarterly basis. Therefore, projections on a monthly basis might not reflect the quarterly payment."
• "If you are going to get financing, you will have to answer questions that revolve around why. Why do you need equipment? Computers? Office supplies? Review your list of things you need to purchase and beak down the why of each."
You won't be done once you've finished the workbook, but you'll have the business plan pieces you need. Then it's simply a matter of putting everything together, a process Urbaniec says "may take several drafts."
The workbook eases the task, however. The SCORE business plan workbook is free. Call Dressler at 630-562-1000 for a copy. E-mail me if you can't get to her.
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