5 Easy Steps to Creating Your Napkin Business Plan

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Offline Sultan Mahmud Sujon

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5 Easy Steps to Creating Your Napkin Business Plan
« on: March 16, 2015, 12:16:44 PM »
Napkin Plan: In the beginning of starting a business (no matter how small) having a plan or a clear vision of where you want to take your new company and how you plan on getting there is extremely important. Knowing where you want to go, the costs, and the steps you will need to take to get you there is a vital part of your success. Although you may change course along the way, it is easy to see and track your progress if you have a clear written vision of your journey ahead.

In the beginning, your business plan doesn’t need to be an elaborate plan involving endless research, (although that is a good idea), you could start with a simple direction and build upon it as you go. I find that to be the easiest for most people because costs and fiscal projections are hard to assess if you are new to the industry or to business.

The Napkin plan: (I call it the napkin plan because it as informal as jotting ideas down on the first thing you can find to write on.)
1.   To begin your Napkin plan, you will need about 5 – 10 minutes.
2.   Get a piece of paper, napkin or anything to write on
3.   Close your eyes and think of your handbag project for    about 1 minute.
4.   Open your eyes and write down the first 5 things that come into your head about your handbag like your target market, your audience and your handbag design, do not spend a lot of time on this, and just give it about 1 minute. What did you write? Take 1 of your ideas and expand on it for another minute.
5.   Continue to do this with all your points you thought of in #3, spending only about 1 minute on each point.