Can you write a business plan?

Have you been watching The Apprentice, if you haven’t go and look at the March 17th episode?

We all know this is television entertainment. It is a show in which 12 ambitious entrepreneurs carry out a series of business projects, then each week someone is fired until they get down to just four. Watching it as business mentor is frustrating, these competitors seem to have no business sense or even any feel for business. The most important rule appears to be who sells most/

By the March 17th show they were down to just four candidates, these four were then interviewed on their business plans. These are the business plans they have written to persuade Lord Sugar to invest £250,00 for 50% of their business.

As I watched I kept thinking has anyone told them how to write a business plan?

For example:

  • · One plan talked about growing the business from its current low sales to £700,000 in a year, while making a loss of £250,000. I suppose they expected this to be covered by Lord Sugar’s £250K!

  • · There was the one that included their web address but hadn’t even bought it, so how did they know it was available?

  • · One lady included the name of a company she was going to be working with, but when the examiner checked, he found that this company didn’t work in her field!

  • · Another one claimed they were making a unique shirt, but it wasn’t unique as the interviewer produced a similar one he had bought earlier.

All these are simple errors, and I won’t go into the state of their financial projections, they didn’t seem to understand finance at all!

I assume that in these cases the finances aren’t important as basically … it is an entertainment show and once Lord Sugar choses one, I am sure his team will take over and sort these problems.

But it does lead to the question of how important it is to have a good business plan.

I believe essential.

You need to know exactly where you want your business to go.

I have always believed that unless you know in every detail what you plan to do, your business will suffer somewhere. In fact, it will always suffer, but you can live with these setbacks if you have thought about them, and you know where you are taking your business.

So how do you write a business plan?

If you are looking for help, contact me at Let’s work together and produce one that is specific to you.

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