Writing Your Business Plan is Actually Storytelling

Storytelling and writing a business plan actually go hand in hand. The same ingredients used in telling a story are also used in writing a business plan. Let's use the Executive Summary as an example.

The usual advice give to write this part of a business plan is something along these lines:

? This is the most important part of your plan because it is where potential investors will focus their attention most on.

? Write this executive summary once your plan is at its very final draft stage.

? Highlights and key issues.

? Avoid detail.

? Address the needs and interest of the reader.

? Use bullet points.

? Keep the length of this Executive Summary to no more than three pages.

If this is the most important part of your entire business plan, then it is even more important for you to get it right from the start. But really, how do you this? How much information do you give in this Executive Summary? How much do you leave out? What do you concentrate on? Is it the description of the product itself? But if you concentrate on the product, then how do you keep it to only three pages when there is so much more to say about the history of the company, the people who run it and the financial status of the company? What about the dreams and aspirations of the company? How really can it all be said in just three pages?

Well, most successful business plans use the same formula that storytellers use to write their Executive Summary.

Let's use a very simple example to illustrate the point. Assume that the business plan you are writing is for the launch of a new face cream called Madame Belle, by a company known as Acme Creams Inc.. Your Executive Summary could read like this:

1. To revive our ailing company and generate some revenue, we are proud to introduce our new product, Madame Belle.

2. Madame Belle is a new age-defying face. The ingredients of this product are derived mainly from the aloe vera plant. Using our secret formula, we have extracted the glue-like substance from the plant and combined it with some other materials to produce Madame Belle.

3. The research and development team for the product is headed by Professor Bloggs. The marketing and sales of this product will be carried out by a team headed by Mr. John Stone, our Director of Sales and Marketing. The entire project has been funded by our company, Acme Creams Inc.

4. The distribution of the product will, in the first two years of production, be focused mainly in the U.S. market. Thereafter, the plan is to expand production and sales to Europe.

5. The date for the launch of this product has been fixed for January 27th 2005 and Ms Gloria Vanderbilt has agreed to be our guest of honour.

Where are the ingredients of a story in this?

Well, in sentence 1, the ingredient of 'Why' was used. The product was created to generate revenue.

In sentence 2, the ingredient 'What' was used to describe the product.

In sentence 3, the ingredient of 'Who' was used to provide information about who was involved in the project.

In sentence 4, it is the ingredient 'Where' that is used to show the geographical location of where this product will be sold.

Then in sentence 5, it is the ingredients of 'When' and 'How' this product is going to be launched that are described.

Now, let me state here that the ingredients listed above are not the only ingredients in telling a story but they are the core ones. Also, the description above is but a sample; so, in writing a proper Executive Summary, one would need to expand on each ingredient. Nevertheless, when writing each part of the business plan from the Executive Summary to the financial plan to the marketing plan, the same ingredients can be used to describe each and every aspect of this.

*******************

Aneeta Sundararaj, a storyteller, is the creator of the bestselling program "How To Tell A Great Story". Aneeta's technique and famed "R.P.I. Principle"© has been used by many people and offers simple, cutting-edge strategies applicable universally. She is also the author of two 'traditional' books The Banana Leaf Men and Mad Heaven: the biography of Tan Sri Dato' Seri Dr. M. Mahadevan. Visit http://www.howtotellagreatstory.com to learn more.

---

8 Ways to Earn More Without Working Harder

Conventional wisdom has it that there are only three ways... Read More

Is Plan B Ready?

Business owners and entrepreneurs are, by nature, risk takers and... Read More

A Unique Joint Venture Twist: Make Huge Profits Even If You Have No Money, No Products, and No List

Would you like to jumpstart your online or offline business... Read More

During the election we heard about Ohio?s Economy

Much of what we heard in the mass media about... Read More

Will and Vision

Remember Chux? The disposable diaper that took the market by... Read More

Call in the SWOT Team: Produce More Opportunities to Expand Your Business

Have you ever done a SWOT analysis? No, it's not... Read More

The Importance of Value Mix

( * - the word 'product' can be substituted to... Read More

Microsoft Great Plains in Agriculture ? implementation highlights

In this small article we'll concentrate on farmers associations and... Read More

How to Write a Business Plan Market Analysis

Writing a business plan is an essential part of the... Read More

Financing Business Expansion for Your Small Company

How you finance the expansion of your business is important.... Read More

Site Selection and Demographic Tips for Establishing Outlets

Many cities have home pages on the Internet. Many of... Read More

Content Management: Wise Investment for Business Prosperity

The time when a website was just a simple set... Read More

Fail to plan... or Plan to FAIL??

Running a business, whether it be an offline multi-billion dollar... Read More

Regroup - How To Do It And Why It Works

Regroup?is this a new management trend? Not a chance! Regroup... Read More

6 Changes You Can Make to Increase Business Profits

I read once that something like 30 percent of all... Read More

Strategic Acquisition Strategies for Small Businesses

Growth through acquisition should not be considered an option reserved... Read More

College Students and Graduates to Run Company Outlets or Franchises

Does your overall business strategy include the recruitment of college... Read More

Family and Friends Referrals Make the Best Franchisees

As a franchisor it is imperative that you seek, find... Read More

Strategic Planning Consulting

Strategic planning and consulting is the strategy roadmap to manage... Read More

The Top 10 Priorities That Guard Your Five-Star Reputation

Making money doesn't make your reputation... your reputation makes you... Read More

Succession Planning: Problems Getting Started

A survey released by the American Institute of Certified Public... Read More

SWOT Analysis Is No Magic 8 Ball

Q: A key investor in my business has suggested that... Read More

How to Develop a Successful Board of Advisors (...and Why You Should!)

In today's rapidly changing and highly competitive markets, many privately... Read More

Sample Business Plan Outline

If you are looking for a partner, funding, angle investor... Read More

The Magic Of Exponential Business Growth

Is there a 'magical' way to exponentially grow your business?It's... Read More

Three Steps to Give Your Strategic Plan Traction

We all agree Strategic Planning is a critical part of... Read More

Turning On The Lights

Fun From The StartFor those with the will to start... Read More

Mobile Franchise Business Expansion Strategy

If you own a mobile franchise business and wish to... Read More

Six Key Areas For Evaluating A Strategic Alliance

Strategic alliances are increasing at a rapid rate. It is... Read More

Defining Go for It Business Goals

Many business start-up kits or consultants will tell you one... Read More

Designing an Efficient Distribution System

Let us look at a few of the big distribution... Read More

Top 10 Tips to Create A Business Plan! (For People Who Hate Business Plans)

One of the key challenges for any business is to... Read More

How Good Is a Business Plan To Your Business?

You know you need a business plan. You probably realize... Read More