Undergraduate Blog / Career Development

What NOT To Do – A Guide To Business Planning

Welcome to my second blog for Babson College’s Undergraduate Center for Career Development!

If you haven’t done so already, be sure to check out my first blog for a brief introduction to my social journey with SoJo this summer!

My time at SoJo has been fantastic! I have had the opportunity to work on a diversity of projects as the Business Intern of this small start-up hybrid social venture. So far, I have created SoJo’s first Annual Report, designed promotional material, organized outreach to online publications, and much more!

My greatest project – and challenge – to date is creating SoJo’s first official business plan! I may not be an expert in the field of business plan writing (yet), but I’ve made enough mistakes to learn what NOT to do!

DO NOT be afraid! Stressing about the 10, 20, or 40 pages you have to write will only hold you back. Instead, focus on why you need your business plan. In my case, my work will help an organization that I want to see succeed do just that.

DO NOT make it up as you go along! You don’t need to! With a quick Google search, I found awesome resources, such as Futurpreneur’s Business Plan Writer, that list and explain business plan essentials.

DO NOT leave anything blank! SoJo, just like any other start-up, doesn’t have all the answers. Rather than shying away from some parts of  our business plan template because we have never previously addressed them, I answer them myself! It’s amazing what you can create when you are given the chance to be creative.

My challenging and rewarding work on SoJo’s business plan is shaping my experience as an entrepreneur in the social economy.

I’ll be sure to keep you updated on my progress. Feel free to contact me if you want to learn more!