# How long did it take you to write your Business Plan



## ebivremodel (Nov 15, 2010)

Business is a bit slow this week so I'm finally getting around to writing my business plan. Using the Clay Nelson workbook I picked up at the Baltimore Remodeling show.
Whew. What a time consuming endeavor the first time.

It does get you motivated and fired up.


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## Jason-F (Jul 4, 2009)

Yes they do take a long time. Mine took me about 2 months of evening work and is 160 pages of solid planning. GL


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## rselectric1 (Sep 20, 2009)

Mine is over 100 pages and took nearly a year to complete. (Some of the pages are forms, logo sheets, etc. which accounts for the large number)

Studying the competition took the longest.


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## Heritage (Mar 20, 2007)

I'm still working on it :shifty:

What RS said is so true. Study the market and competition...deeply.

I wrote a business plan around 5 years ago. It's toilet paper today. It's a good start, but nothing compares to trial, error and revision.

Defining WHO you are sounds so simple, but is the most difficult aspect, and the very backbone for everything to branch off. Everything else almost flows from that.


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## antnepi (Aug 26, 2008)

This may be a dumb question, but...What exactly do you mean by "study the market and your competition"?


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## Heritage (Mar 20, 2007)

antnepi said:


> This may be a dumb question, but...What exactly do you mean by "study the market and your competition"?


Your instincts were right...it is a dumb question...:laughing: J/king

1st- What service do I provide?
*Answer - Kitchen remodelling*
2nd- How many people remodel their kitchen every year?
3rd- How many other companies provide kitchen remodelling services to meet the demand?
4th- What are the various demographics of the people that remodel their kitchen every year?
5th- What's my competition doing?
6th- Which demographic am I going after?
7th- How will I reach that demographic?

Etc....these are all questions that fall under "studying your market and competition"...there are many other questions/answers you need to come up with.


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## katoman (Apr 26, 2009)

Took me about two minutes.

Sell work, get it done, make money.

Any residential work, some commercial. But if the customer wants it, I'll do it, within reason.

Only good job I turned down was building a hospital. A little out of my league.


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## Mike's Plumbing (Jul 19, 2010)

It wasn't mentioned but when I studied my competition the number ONE component was discovering where they are failing in the market place AND what the competition excels at.

In my old demographic my competition was very disorganized and slobish. I discovered this over time and with good feedback from customers. It's a very fun and exciting process. Once I discovered this I decided to excel in that portion of my business model....I actually pushed the subject way over the top so people would take notice.

Now I find myself in a totally different demographic in my new town. It's way to early to make assumptions but the competition here is very very different. I am working very hard on this as we speak. So far I have discovered a few components of the business chain where I can take advantage of my competitions failure to give the customer what they need.

One BIG thing I noticed right away is a mass disconnect with the customer (relationships), loyalty just doesn't exist. I'm not sure how I will handle this but it's exciting to figure it out. In my last town customers were "groupy" and almost "clubish"...not here.

Anyhow, in my opinion this is the first and number ONE part of studying the competition. Once you do this it makes figuring out WHO you are as a business very easy. And once you have this in place branding...followed by brand management is the name of the game.

Mike


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## katoman (Apr 26, 2009)

Honestly, I've never heard of this. A business plan? 

If I'm a residential builder/contractor, then I'll build or renovate anything you are in need of having done.

If it's made of wood, I'll build it.

Electrician - if it carriers power, do it.

Plumber - if it holds water, do it.

etc,etc,etc. 

I don't get it, sorry.


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## Mike's Plumbing (Jul 19, 2010)

katoman said:


> Honestly, I've never heard of this. A business plan?
> 
> If I'm a residential builder/contractor, then I'll build or renovate anything you are in need of having done.
> 
> ...



Your right to a point:thumbsup:

BUT, keep in mind the "just do it" part of the business is the bare minimum. To really get steam and head in a calculated path a business plan is great. Even if you don't follow it the process alone forces a business owner to think about things they would of otherwise missed.

Logo design is one area. I had already designed a new name and logo but after writing out a business plan and spending some time researching the demographic I discovered I was WAY WAY off. It was a mistake, my new logo and name (image) looks nothing like it did. 

A business plan is a discovery process....a very fun process.

Mike


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## DaVinciRemodel (Oct 7, 2009)

A work in-process for19 years now - it gets updated every year!


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## Mike's Plumbing (Jul 19, 2010)

DaVinciRemodel said:


> A work in-process for19 years now - it gets updated every year!


Your right on the money with this, it's an evolution of sorts don't you think. It is for me anyhow. I love this part of the business.

Mike


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## katoman (Apr 26, 2009)

I think my business plan came to me instinctively. Follow the money.

I have always pursued the upper level client who can afford the work.

I suppose that's my business plan. It's the same as it was 30yrs ago.

I can see how this would be advantageous for someone starting out. But after x amount of years, your clients will hire you based on your performance. I don't think they care about your logo.

Mine don't anyway.


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## Mike's Plumbing (Jul 19, 2010)

katoman said:


> I think my business plan came to me instinctively. Follow the money.
> 
> I have always pursued the upper level client who can afford the work.
> 
> ...


The logo is just an example and it's one thing out of a list of hundreds. A business plan is good for some and meaningless for others I suppose.

A business plan for me anyhow massively accelerates profit margins, market share, and a whole host of things.

Do what you think works I guess.


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## katoman (Apr 26, 2009)

Mike, no argument here. Just being curious. As a plumber do you/will you not do any plumbing job you can land?

How will a business plan help. I will sell work untill I can no longer keep up with it. 

If someone's plan is to build a large business then yes, you do need a plan. 

For the small contractor I think the most important aspect is to cultivate great clients.

This is just my endless curiosity speaking, thanks


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## WNYcarpenter (Mar 2, 2007)

Heritage said:


> Your instincts were right...it is a dumb question...:laughing: J/king
> 
> 1st- What service do I provide?
> *Answer - Kitchen remodelling*
> ...


What resources are available to help answer these questions?


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## y.painting (Nov 12, 2009)

Writing a business plan often turns into one of those activities like "designing a logo" or "ordering stationary" or etc.

It's something many folks get hung up on "If I don't have a business plan (logo/t-shirts/etc/etc) I can't....

A business plan is a living, breathing thing. If you're just starting out, you don't need anything formal or to follow certain prescriptions or sections to include. The document itself isn't nearly as important as the process that leads to the document. It's really just about the process of thinking through your ideas, how you will make money. Don't get hung up on the formality of it (unless, of course, you'll be pitching it to someone....doubtful for a start-up construction company).

Don't get me wrong, analysis, planning, vision, etc are important...just don't make the business plan an end in itself. 

Your number one priority at this stage is sales! (given that you know how to provide the service after the sale) I have coached too many folks through our local chamber that get hung up and sit at home writing all kinds of elaborate marketing schemes and SWOT analyses and designing logos and business cards ..... and they haven't made a SINGLE SALE yet!


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## DaVinciRemodel (Oct 7, 2009)

WNYcarpenter said:


> What resources are available to help answer these questions?


Google, a good reference librarian, state licensing boards, etc. There is a ton of info out there. 

I also visit my top three competitors' (kind of a misnomer - I really have no competition :whistling) websites every year to see what they are up to and what direction they are going.


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## WNYcarpenter (Mar 2, 2007)

katoman said:


> Mike, no argument here. Just being curious. As a plumber do you/will you not do any plumbing job you can land?
> 
> How will a business plan help. I will sell work untill I can no longer keep up with it.
> 
> ...


That's kinda how I'm seeing it....I've tried starting a BP a few times and I can't define the services I am offering.....carpentry? Everyone in this area is a carpenter....The business plan just seems like the right thing to do. Once you get through it IMO...you're set..........

As a start up I would basically be a handyman one man show....windows, doors, decks, maybe a kitchen or bath, some flooring, siding...basically anything related to carpentry hoping to land a couple big jobs.

I realize the importance of a BP, but I'm starting to think getting organized with procedures and a solid contract is a more worthwhile....get my feet wet a little and a feel for what's selling before I decide who my preferred clients are, what's selling, then find a niche and form a plan......

I love threads like this....Thanks!


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## katoman (Apr 26, 2009)

To someone trying to build their business, I would recomend that you spend more time focusing on the client than any business plan.

Never forget, we are in a service industry. My clients hire me not only for my abilities, but because I focus on their best inerests.

You can have the greatest plan in the world, it won't help if you have lousy clients.

Make your clients your priority. Do what is best for them, give them what they want/need, at reasonable pricing, and you will make money and have a long list of customers in the future.


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