Small Business Focus

How to draw up a business plan (and how to adapt it over time)

I’m suspicious of an entrepreneur who believes his [own] business plan…

Pavlo Phitids, Aurik Business Accelerator

Don’t get befuddled by the business plan… think about the basics… what’s in it for the funder... it’s a document to get you a meeting…

Pavlo Phitids, Aurik Business Accelerator

A business plan is mostly understood as a formal statement of business goals, reasons they are attainable, and plans for reaching them.

The Money Show’s Bruce Whitfield interviewed Aurik Business Accelerator founder Pavlo Phitidis for his weekly small business feature.

Phitidis spoke about the following:

  • What we are told a business plan is.

  • What a business plan should be.

  • How a business plan should change over time as you grow your business

For more detail; listen to the interview in the audio below (and/or scroll down for more quotes from it).

[It’s a mistake] to get someone else to compile it [business plan].

Pavlo Phitids, Aurik Business Accelerator

Beware of getting a business plan template…

Pavlo Phitids, Aurik Business Accelerator

For funding, you have to have one.

Pavlo Phitids, Aurik Business Accelerator

You should be able to talk about every piece of content in there.

Pavlo Phitids, Aurik Business Accelerator

The likelihood of anyone reading through 89 pages is very poor.

Pavlo Phitids, Aurik Business Accelerator

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This article first appeared on 702 : How to draw up a business plan (and how to adapt it over time)


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