How to Write a Business Plan

164 | HOW TO WRITE A BUSINESS PLAN

Ideally, your personal goals and
commitments will tie into the business
goals exactly. In reality, you probably have
at least some personal goals that don’t have
much to do with business profi tability.

exAmple 1:
“My reasons for starting this business
are to make a good living, prove I can
be successful, enjoy the freedom of
independence, and have lots of free
time to work on my car collection.
In addition, I would like to create a
business that I can bequeath to my
children.”

Most people starting small businesses
are tied to them full-time (if not more),
and it’s unrealistic to think that there
will be a lot of time left to tinker with
a car collection. Assuming our budding
entrepreneur is willing to postpone
most of his tinkering until his business
is established, here’s how this statement
could be rewritten to sound a little better
to a potential backer.

exAmple 2:
“My personal and business goals largely
coincide. Successful implementation of
this business plan will enable me to meet
the following personal goals: provide
a good living for my family; work in
a fi eld I know and like; achieve the
personal satisfaction of seeing my

plan come true; enjoy the prestige and

independence accruing to a successful

business owner; provide a legacy for

my children; and provide the means to

a richer and more fulfi lling life for both

myself and my family.”

Notice that in Example 2, “time to

work on cars” was translated to “provide

the means to a richer life.” Perhaps your

statement will neither be this lyrical nor

obfuscatory, but hopefully you get the

picture.

Antoinette Gorzak’s

Personal Goal Statement

I want to accomplish a number of goals by

starting Antoinette’s Dress Shop.

I want to prove that I can create a

successful and worthwhile business by

drawing on my educational background

and work experience. I feel that choosing

and selling good clothes at a fair price will

be an honest service to my customers and

the community generally. I want to spend

my time working with customers and

people in the clothing business who share

my values.

I want the chance to make a better

living than I can make by working for

others, along with the responsibility and

freedom to be my own boss.