Professional Documents
Culture Documents
Writing Winning Business Plans ch1
Writing Winning Business Plans ch1
Appendix
Appendix A Business Startup Check List 201
Appendix B Business Plan for Mikhail’s Tacos, Inc. 205
Index 237
Chapter One
Plan to Win
1
Chapter One
Remember though that nine out of ten new businesses fail despite
plans that communicate great opportunity. In reality, most businesses
fail not because of poorly written business plans, they lose because their
owners don’t prepare themselves for the real world of business. So before
we begin the “how-to” section of this book, it’s critical that you answer
two key questions:
Each business plan has a price. Most people want successful businesses
but are not willing to first invest the time. They want get rich quick
schemes and often start businesses without basic skills. Most people do it
“their way” instead of investing in study and building a team of competent
advisors.
Great business plans come from entrepreneurs willing to delay
immediate gratification. They take risks and invest the time and energy
necessary to gain relevant experience and education. They are not afraid of
making mistakes or failing because mistakes and failure equal experience.
They start small and build, recognizing experience leads to greater ability.
After paying the price, true entrepreneurs gain the knowledge to build a
winning plan and winning business.
2
Plan to Win
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:
3
Chapter One
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.