5 Paragraph Business Plan :: Preparation pg. 12 : http://bit.ly/5PPLAN
Preparation with METT-TSL requires big-picture thinking.
Asking big vision questions of yourself and your company can feel daunting at first. We start and finish the 5 Paragraph Business Plan with METT-TSL in order to keep things simple. This forces you to ask the big questions up front so you can work to answer them throughout the course of your plan. When the plan is complete you'll be able to answer those questions with brief detail.
Text boxes throughout the book show you where that element of the text fits within METT-TSL.
Fill in the METT-TSL template on page 59 once you've read through the book. The text boxes in each section will assist you in easily locating the elements of METT-TSL. Ask the big-picture questions about your business to develop your mission statement with defined objectives and directives. Complete a S.A.L.U.T.E. report to target your market needs and pinpoint your customers. Map out the big name competition, your direct competitors, allies, and supporting organizations. Determine what seasonal effects will have on your business. Illustrate the type of space you operate out of and the logistics requirements for running operations.
Now, you've got a simple executive summary of your business.
It feels daunting at first but getting those items down on the page makes a world of difference when your are struggling to articulate your vision.
METT-TSL as an elevator pitch. It is your business plan's executive summary, to begin with, and brings all the most important details of your plan up front into simple brevity.
Presenting the key elements of your business plan in a clear and brief format demonstrates your ability to see all of the angles and successfully carry out the vision. That is essential when talking to loan agents, potential investors, and most importantly when talking with newly hired leaders. Your leaders will base their plans off of your METT-TSL. For more on how operational leaders use METT-TSL to build of your plan, watch METT-TSL || 5 Paragraph Business Plan.
You will answer the detail questions by working through your plan. METT-TSL is your jumping off point and where you circle back to. The round trip results in a completed business plan.
C'mon, this stuff's easy......I mean, grunts do it. So it's gotta be easy, right?
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