How much time does it take to write a business plan is totally dependent on the type of business plan that you want.
There are basically 3 types of business plans:
- Level 1 business plan – the one-page business plan
- Level 2 business plan – the investor presentation business plan
- Level 3 business plan – Vision to reality business plan
Level 1 business plan – the one-page business plan:
This is a typical one page write up where it gives you a broad sketch of what all your business should have.
It can be written by anyone and it would ideally take you about an hour or so to finish it
Level 2 business plan – the investor presentation business plan:
This business plan is a lot more in detail and has market data and analysis.
This kind of business plan take about 10 hours to complete from start to finish.
Level 3 business plan – Vision to reality business plan:
This kind of business plan is complex. It is a blue print of the business that one uses to make his vision come alive.
For example, if you say you would use a website to convert a lead to customer, then we would cover the following:
- Website name
- Competition site names
- Best recall names
- Best sounding
- Ease of typing
- Website colour scheme
- List of emotions to be generated in customer
- And so on
- Average time to be spent on site by customer
- List of topics for blogs
- Digital marketing sketch
- And so on…
Each point would be worked out in detail and with final implementable solution.
Until then the point would be detailed.
This type of business plan would take anywhere from one week to a month to complete.
The type of business plan decides the amount of time it would take to finish a business plan.
It is also important to understand that a business plan should always be fluid and should change as per customer requirements and environment.
This would help the business grow from strength to strength.