Business Plan Question

Business & Finance
Tutor: None Selected Time limit: 1 Day

How long does it take to write a business plan?  What factors determine how long it will take?

Oct 3rd, 2015

Thank you for the opportunity to help you with your question!

The length of time required to write a business plan will vary greatly. Some people do all of their research upfront and can complete their plan very quickly once they start writing. Others will write their plan as they conduct their research and analysis. While the amount of time spent actually writing may not change much, it seems as if it takes a lot longer.

Also, some business plans are easier to write than others. In some industries or in some local markets, for example, information may be more or less readily available. This will greatly impact the amount of time spent writing a business plan.

Also, some people just write faster than others! Not to mention that "life" often gets in the way. Entrepreneurs have families and commitments, and often they are employed full-time as they prepare to launch their business. These outside factors can have a tremendous impact on the amount of time required to complete a plan.

Writing a business plan does not have to be difficult and although it will require a time commitment, it is possible to write one reasonably quickly if you've done your homework. The success of any business plan is within the quality of the information provided. Once you determine the type of business you want to go into, the plan itself represents the operation on paper as if it already exists: How much revenue is expected, from where, the marketing plans that drive sales, the infrastructure needed to meet the needs of doing business, as well as other related actions and costs. Take your time and talk to as many people as possible for information. Please keep in mind doing your homework up front is like taking on an insurance policy. It increases your chances of succeeding by eliminating the unknowns. In the end there are always other variables.

Factors determining the time.
1. Size of business
2. Components of the business plan
3. Sources of information
4. The revenue which is expected
5. Amount of time per day dedicated to the writing
Please let me know if you need any clarification. I'm always happy to answer your questions.
Sep 18th, 2015

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