The ten minute business plan
Let me start by pointing out that you will not write a “Business Plan” – big B big P – in ten minutes. Not something an investor or a bank would accept.
But you can write a preliminary business plan – small b small p – in ten minutes.
And that business plan will be worth so much more than 10 minutes of your time. That business plan will be the origin of all your most important decisions. Because we all have to start somewhere. And 10 minutes is a good starting point.
3 minutes for the purpose
Start with why the business exists and why anybody should care.
Write out what the purpose of the business is, what it does and for whom, and what you expect to accomplish.
What is the opportunity for this business? Write it out, you have 3 minutes
3 minutes for strategy
Next, write down how you will accomplish that purpose.
You only have three minutes so don’t try to get into details here. Instead, explain how you will respond to the market’s need for your service.
Include thoughts on how people will find you, how you will serve the clients and a brief list of what resources you will need to accomplish it all.
3 minutes for leadership
Now decide who is doing what.
This is the first, rough draft of your organizational chart. Write down what departments or functions are needed in the business, and who will be filling each function. Make sure there is a good balance, that you are not assigning all the toughest work to a single person.
The leadership question also addresses accountability: how will you ensure the right things are happening at all times?
1 minute to review
As you worked your way through these three areas, you may have thought of something to add to a previous step. Use your last minute to make the last additions, changes, and comments.
What next
The above is your homework. Once you are done, drop me a line to schedule a one-time consultation to review your business plan and decide on the next steps: 3 action points that will make the plan a reality (90 minutes & final report, $550).