Developing an Initial Business Plan Sketch – The First Real Step To Starting Busines

Whatever your inspiration for considering starting your own business, it is only when you get to developing an initial sketch of a business plan around it that we can reasonably say that your are on your way to starting business.
The initial business plan sketch you develop for your own personal use need not be a complex one. It need not even have the headings which are drummed into the heads of business students – things like the executive summary, deep financial forecasts, complex SWOT analysis and so on and so forth, though this do help in organizing your thoughts. You will of course come to need a business plan with all these later, that is, when you come to ‘upgrading’ your initial business plan sketch to something you can use in sourcing for financing for your new business. But the aim of this initial business plan sketch is to help you visualize in your mind how your business concept is to work out in the real world – and give you an opportunity to confront the reality of whether your new business plan is in fact viable or not.
The initial business plan, in this way, helps you to work out whether given the resources you have and the reality surrounding you, going into your own business is something you can serious consider, or whether it is just fanciful thinking.
The initial business can be done on any format and can even be sketched on the back of a used printing paper. What is important at this stage is not what you put down, but rather what the plan gets you thinking about your new business venture, it viability and its mechanics.
It is from this initial business plan sketch that you will eventually develop the fancy version of a business plan, the one to present to financiers, potential clients and so on. We discuss about the more complex business plan later.