By Garrett Sutton, Esq.
Business is a plan, not a product or procedure. Good business plans expect the unexpected, but remain intact and in use throughout the trying early years. They just keep getting improved upon as you learn more. Your personal plan can be financial freedom – freedom from the day to day grind of working for money. But your business plan has to answer the following questions for investors and lenders:
1) Can I make money investing in this business (risk vs. reward)?
2) Do I like and understand the business I’m investing in?
3) Do I trust the people I am investing with?
It’s also important to note that winning in business has much more to do with entrepreneurial spirit than it does with age or gender. You’re never too old or too young to be a successful entrepreneur. In Rich Dad’s Guide to Investing, Robert Kiyosaki describes the personal traits of a successful entrepreneur:
1) Vision: Ability to find opportunities others cannot see.
2) Courage: Ability to act despite tremendous doubt.
3) Creativity: Ability to think outside the box.
4) Ability to withstand criticism: There is not one successful person who has not been criticized.
5) Ability to delay gratification: It can be very difficult to learn to deny short-term immediate self-gratification in favor of a greater long-term reward.
So as you begin to write your plan, ask yourself if you truly have the tenacity to fail and start the challenge again. Nearly all successful entrepreneurs have had many failures. The beautiful thing about business is that you don’t have to be right 51% of the time, you only have to be right once.
Learn More About Writing Business Plans
To win in business requires a winning business plan. From focusing your vision for the business to using your completed plan as a tool, this book shows you how to prepare a winning business plan. This book reveals winning techniques and strategies. Learn how to:
- Attract the funding you need
- Identify strengths and weaknesses
- Deal with competition
- Understand your financials
- Use your plan in competitions around the world
Rich Dad/Poor Dad author Robert Kiyosaki says, “The first step in business is a great business plan. It must be a page turner that hooks and holds a potential investor. Garrett Sutton’s Writing Winning Business Plans is THE BOOK for key strategies on preparing winning plans for both business and real estate ventures.”