The Five Question Business Plan

In its most simple form, a business plan is just the answers to five basic questions: why, how, what, who and when.

In brief:

Why: As in "why are you in this business?" This is your purpose, your mission. It has to be deeply aligned with your personal values, otherwise you're going to be miserable.

How: As in "how do you plan to accomplish that?" This is your strategy, the path you've chosen to fulfill your mission. It has to be deeply aligned with your strengths and skills, otherwise you will most certainly fail.

What: As in "what exactly do I have to do?" These are the actions, the tactics, the things you have to do to execute your strategy. They are the day-to-day of your business.

Who and When: This is the execution. It's when you establish ownership and accountability. Without execution nothing happens.

Two very important points:

1) You have to do all five, and, most importantly

2) You have to start with Why