Search
  • Anchal Srivastava

Why do I need to write down my business plan?


Anchal Srivastava, Nidhi Joshi, Priya Bansal, Business Planning, Money Management, Customer Service, Staffing, Operations and Commerce, Selling, Workplace Inclusivity, Workplace Productivity, Employee Management, Career Development, Customer Engagement, Website, Branding, User Experience, Introduction to Digital Marketing, Advanced Digital Marketing, Social Media Marketing, Tracking and Analysis, Mobile App Development and Promotion, Market Research, Agency Management, Video Marketing, Email Marketing, Content Marketing, Zeyka, Zeyka India

'Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success.'

– Pablo Picasso


A business plan or, in our architectural realm – a business blueprint, is crucial to create a strategy and get funding accordingly because a business needs money to start. Drafting a business plan allows you to concretise your understanding of your company, its milestones, and the key people associated with it.


Think from an investor's point of view. If you were putting money into a business, would you be more comfortable lending money to someone who speaks in very vague terms and with no real outline of their business? Or to someone who has done solid research about their product, market, has a proposal with all objectives and steps outlined? Certainly, a person with more knowledge about their business and market would be a better option for any investor.

Anchal Srivastava, Nidhi Joshi, Priya Bansal, Business Planning, Money Management, Customer Service, Staffing, Operations and Commerce, Selling, Workplace Inclusivity, Workplace Productivity, Employee Management, Career Development, Customer Engagement, Website, Branding, User Experience, Introduction to Digital Marketing, Advanced Digital Marketing, Social Media Marketing, Tracking and Analysis, Mobile App Development and Promotion, Market Research, Agency Management, Video Marketing, Email Marketing, Content Marketing, Zeyka, Zeyka India

Let's consider the example of an architect. If a client came to them with a piece of land, would they start construction right away? Of course not! One would first discuss the client’s requirements, make a proposal and give the customer some clarity depending upon their aspirations and budget. In the same way, having a plan, a blueprint, or research can show your seriousness about the business. Writing down a business plan helps in defining three things:


1. Vision


It is key to have an overall understanding of your business, your goals, and your targets. Having a bird’s-eye-view of what the business is about and what it is trying to deliver will help you shape your company. It can be your ultimate guiding arc, which is a constant reminder to never go astray from your desired destination.

Anchal Srivastava, Nidhi Joshi, Priya Bansal, Business Planning, Money Management, Customer Service, Staffing, Operations and Commerce, Selling, Workplace Inclusivity, Workplace Productivity, Employee Management, Career Development, Customer Engagement, Website, Branding, User Experience, Introduction to Digital Marketing, Advanced Digital Marketing, Social Media Marketing, Tracking and Analysis, Mobile App Development and Promotion, Market Research, Agency Management, Video Marketing, Email Marketing, Content Marketing, Zeyka, Zeyka India

2. Strategy and operations


One must have a detailed overview of the work and milestones involved in achieving the vision. Set targets, like 10,000 subscribers to your website, or ten clients in a month, 20 employees on your company’s payroll, or 50 positive reviews on your work. It may also be a new office, a bigger project, and anything and everything that you think is worthy of telling the most important people in your life. Do not forget to celebrate all the milestones when you achieve them with your employees and your well-wishers.

Anchal Srivastava, Nidhi Joshi, Priya Bansal, Business Planning, Money Management, Customer Service, Staffing, Operations and Commerce, Selling, Workplace Inclusivity, Workplace Productivity, Employee Management, Career Development, Customer Engagement, Website, Branding, User Experience, Introduction to Digital Marketing, Advanced Digital Marketing, Social Media Marketing, Tracking and Analysis, Mobile App Development and Promotion, Market Research, Agency Management, Video Marketing, Email Marketing, Content Marketing, Zeyka, Zeyka India

3. Stakeholders


Remember our four stakeholders – Investors, employees, customers, and suppliers? They all need to be spelled out in your business plan. Their roles, responsibilities, costs, and a checkpoint for easy entry and exit of any, if required, should be added. You must also remember the definition of success of all people and groups involved in or around the business.


A business plan is not only a tool to depict your seriousness. If you do your research well, it can be a tool to better understand your competition, its flaws, and strengths, to understand the market, and project the future requirements. It can help you be the trendsetter of the industry, a tool to assess your stakeholders and articulate the roles and responsibilities of each of them. The clearer and tighter the agreement, the fewer the assumptions. It can then be tested, analysed, and tweaked before the final launch.


Anchal Srivastava, Nidhi Joshi, Priya Bansal, Business Planning, Money Management, Customer Service, Staffing, Operations and Commerce, Selling, Workplace Inclusivity, Workplace Productivity, Employee Management, Career Development, Customer Engagement, Website, Branding, User Experience, Introduction to Digital Marketing, Advanced Digital Marketing, Social Media Marketing, Tracking and Analysis, Mobile App Development and Promotion, Market Research, Agency Management, Video Marketing, Email Marketing, Content Marketing, Zeyka, Zeyka India

The business plan will help you see the differentials of finances and what can be done to reach optimum economic sustainability. You can also calculate the viability of your business model using a derived formula with a business plan. A well-researched business plan not only decreases the probability of business failure but starts to automate itself and adapt to change. It attracts clients, suppliers, investors, and employees. It will create brand value, which in turn will bring success, and better opportunities.


In totality, the better your research, the better your chances to ride the virtuous cycle of success. Remember, the best business model or plan is the one that is sustainable for all and not just profitable for you. Advancement is made by the improvement of people, by collective development, and not only by the business partner’s progress.


Next time we will discuss what details a business plan must include.



* * *



About the Writer

Anchal Srivastava is an architect, urban planner, writer, researcher and scholar. She is a certified GIS specialist from IIRS, ISRO, Dehradun. She is a graduate of the School of Planning and Architecture (SPA), Delhi and Dr. A.P.J. Abdul Kalam Technical University (APJAKTU), Uttar Pradesh. She has experience working at the Town and Country Planning Organisation Delhi, Jabalpur Smart City Limited, Suresh Goel & Associates (SGA), APS Green Architects & Associates, and as the head architect at SSAP and Shantiniketan Buildtech Pvt. Ltd.


About the Editor

Nidhi Joshi is a writer, architect and artist. She experiments with art, calligraphy and all things Interior Design. She is a graduate of the Bharati Vidyapeeth College of Architecture, Mumbai. She has experience interning at PG Patki Architects.


About the Illustrator

Priya Bansal is an architect and a generalist, currently based out of Delhi NCR. She is a graduate of the School of Planning and Architecture (SPA), Bhopal. She has experience working with Studio Juggernaut.

18 views0 comments

Recent Posts

See All