BUSINESS PLANS – (Format or Fiction) You be the judge

Remember when your parents use to read you bedtime stories? You sat there clinging to every next word. Then when you got older some of the new stories were not at your age level and you thought they were stupid. “I am too old for this lady, get something more my speed,” you would think. But you never had the nerve to say it out loud. So you sat there and forced yourself to grin and bare it. But by the end of the story you just had to find out what was going to happen. The end was far better than you had originally expected, however, you would never tell any of your friends about liking this kiddy book. You’re probably reciting the same stories to your children that your parents told you. You’re doing that because you remembered them. It’s easy to remember a story that has a great plot, a villain, a hero/heroine, sprawling mountains, and a cute little baby kitten. Wouldn’t it be great to make your next business proposal on the same format and structure as the story of Cinderella? YES IT WOULD! Do not stay in the past.

Who reads an entire business plan from beginning to end except for the person writing it? Don’t be a dork. No one reads it all and that’s the truth. I can barely read my own business plans much less someone else’s. Good lord, I do have a life you know. Believe me when I’m saying, no matter how good your business plan is NO ONE is reading it! They go right to the numbers and the outcomes. That‘s all well and good if you’re submitting it to your boss who is holding you accountable. But what if you are trying to get an investor? A business plan is b.o.r.i.n.g, boring.

Creating a story with a business plan concept is how you must capture the investor. Think about it for a second. Every investor starts out with disbelief and YOU have to suspend their disbelief and take them on an emotional journey. Not an emotional rollercoaster so don’t be a drama queen. Drama queens are bad. Remember your business is fiction. It hasn’t happened yet. It’s in the future so you have to bring them into your story and convince them that this could come true. If you're having problems with this concept, stop here, go back to “how to get yo game on,’ and really try and stop burning those brain cells. Once you have convinced them that this can come true, you have now captured desire. You have someone who wants to take this ride with you. You now have an emotional investor. But how do I get them to take “this ride?”

Instead of a business plan, send a letter with your story. That’s the idea behind a new marketing and motivational concept called narrative theory. No matter what the size, scope, or specialty, every business can have its own unique legend and lore that become the very fabric of its identity. You just have to use that round thing on top of your shoulders. Its not there just for hats.

Now there are two ways to go about this. One is awesome and one sucks. The one that sucks will just tell the story and everything works out fine. A little mid plot turmoil but it all works out in the end. We see a pitfall here and there but nothing the hero/heroine can’t fix. That’s all well and good if you believe the investor thinks, with no risk there will be rewards. Nada, no way, I don’t think so. Anyone who is going to give money knows without risk there is no reward. DUH! Big risks equal big rewards.

After your story, create another letter with the top ten or so risks. One will be the largest and most likely. Ten will be the smallest and least likely. One is probably the one we can not handle, could very well make us fail and there is nothing we can do about it. After ten you write, “if you are still reading this please see the attached success graphs.” These graphs will resemble George W. Bush; high and to the right. You want to show the risk because, AGAIN, any good investor knows that with no risk there can be no reward. Also, make sure when talking about risks we talk about how we may defray them.

Successful company story plots:

The Cinderella Story Everybody loves this one! Remember Ben & Jerry, the ice cream success story. It starts with two unemployed guys with an idea (like buying a home ice cream maker). The story then tells of their success, and how their hometown values and simple interests led them to fame and fortune.

The Survivor Story Tells how your business overcame horrible odds to get where it is today. Everybody loves an underdog story!

The Hero or Great Feat Another effective story type tells of a great deed that helped establish the success of your business. It often involves helping your target market and deriving your success from theirs. For example, I was abused and I started a domestic violence shelter.

The "Idea" Story the man that opened up the Medieval Times restaurant in order to feel he was back in medieval times. There would be jousting, beer winches, eating meat from bones and then throwing them on the ground. I just snarled typing that. This story type works well for any business trying to get into new territory.

The Time Line Story This doesn't even need sentences. Just map out the major dates of your business. Like when you got the idea, had your grand opening, and served your one hundredth customer. It helps the investor feel they're participating in something with a past and a future.

So that's it. It's just that simple. Don't get too complicated because you wouldn't want that either. Remember, keep your business plan on the KISS method (KEEP IT SIMPLE STUPID.)