By Tjitte de Werd at May 06 2019 19:08:09
Next you will need to carefully examine what actually goes into your offering. How many hours does it take to create those one_of_a_kind bracelets? How much does it cost to bake a dozen of your special recipe cookies? How much research goes into "whipping up" a website? Making tangible goods requires space. Do you have room to grow enough squash to actually generate profits? Are these numbers you could sustain beyond the occasional personal or family use of your product or service?
Now as I said, there are many other reasons too. After graduating from college, I started out in manufacturing as an engineer in a pretty large company and now, 45 years later, retiring as a of Director of Manufacturing, I have discovered an awful lot about business. Not only did I learn and teach a lot about business, I worked with small business owners as well. I've learned that it comes down to this. Too many owners work hard in their business but less on their business.
Here is a recap of where we are in this discussion: Business plans formalize an understanding of the task with appropriate analysis leading to a plan_of_action. Not all business plans are for profit motives. Business plans are for an enterprise effort and not focused on disciplines/departments, e.g. Marketing plan, sales plan, HR plan, supply chain plan, etc. Business plans are a great vehicle to build a team effort. Plans can be utilized for formalizing metrics relative to achieving goals and performance measurements. Some complex plans might include a Project Management professional. There are internal and external audiences for business plans. Most external focused plans are for outside funding of projects. Be mindful of the 'tone' the plan projects to the reader. Tone refers to the impression a person gets from reading the plan; a subliminal feeling about the plan.
So, you see, once you decide which of the 7 ways you're going to do, then the only thing left for you to do is figure out how to make the one or ones you have chosen work. No doubt there would be a lot work to do to do a plan like this. You would need to figure out how to put it all together, do all the calculations, do a lot of what if's, etc.. And I'm sure one of the biggest things would be, would you actually take the time to do something like this or even have the time to do it? You could pay someone to do it but that would probably cost you a lot. Plus if you did that, most likely it would require a lot of back and forth work to get it just like you wanted it which would be even more expensive. But even then, would you spend the money to do it?