Do not try to write your business plan in one sitting. As I mentioned in the beginning, for a traditional brick and mortar business, it could take in excess of 100 hours to compile all of the information needed into a comprehensive but yet understandable document. For online businesses, probably not that long. But your final product should be well thought out, well documented and easily understandable.
Understand gaps and weaknesses within the plan. Any casual viewer of the BBC programme, Dragons Den will be aware of how easy it is for weaknesses or gaps to be identified. Depending upon the purpose of the plan, this may, or may not, prove to be critical. It is often easier to recognise such weaknesses and gaps, and be prepared to deal with them, either by noting them in the plan itself, or having appropriate answers available should the need arise.
Another key element to the marketing section of your business plan is an outline of your marketing objectives, strategies, and tactics. Writing down the avenues you travel in order to market your business will afford you the opportunity to record what worked and what didn't work. You must be able to measure and calculate the results of your marketing efforts, otherwise, what's the point? If you don't know if something is working for or against you, then it's working against you.
Who should prepare the plan? _ As a business consultant, this may sound like heresy, but I believe that any plan should be produced by the senior management of the organisation. That is not to say that the consultant does not have a role to play in its preparation. He does. Senior management should prepare the plan as they will then be able to present and discuss it, demonstrating to their audience that they fully understand their business and market. I believe that the consultant's role is to help facilitate the preparation of the plan, the consultant can help undertake the necessary research, and can cast a critical and impartial eye over the plan.