When I was 15, I wrote a song for my girlfriend. She said the music was alright, but the lyrics (the inspiring, personal lyrics that revealed my love for her) sucked. Well, never the one to go down in flames, I got back at her….I married her seven years later(serves her right, and she’s still stuck with me 32 years later).
I enjoyed reading Mark Winkler’s article, You can Write Better Lyrics published in the April 2011 online edition of Music Connection Magazine. He laid out a laundry list for song writers that I adapted for business and strategic plans.
- Come up with a great title: Like in a song, you need something short and sweet that can interest people. Some think the Executive Summary of a business plan fits the mold, but there is more. You should be able to recite an “elevator speech” in less than thirty words that spells out the proposition.
- Be Specific: Winkler advises that lyrics should be specific to tell a story in a song. The same goes for a business plan, however, a lot of the specifics can be relegated in the accompanying financial statements and notes. You don’t have to tell every detail in the body of the plan.
- It’s the Music Stupid: Just like a great set of lyrics will not save a bad melody, a great business plan will not save a bad business idea. Research the masses to see if your business idea will be accepted.
- Writing is re-writing: One thing our business plans have done every time, if forced our clients to re-write some of their assumptions. Like in a song, when the dog starts to howl, or your friends struggle not to laugh, its time to rewrite.
- What you say counts: Winkler advises your words to be golden droplets in the minds of those who experience them.
- Step away from your piano and guitar: Just as the tune can stand on its own, so the business plan must pass the smell test. All the fancy footwork will not sway a savvy investor. Oh sure, there are those who can stomach any heavy metal song with a lot of distortion and Marshall amps, but the songs that live in the hearts and minds of the hearer need more. In your business plan, make sure you transfer your passion to the investor.
- A song is not a poem: A business plan is not an MBA thesis. You are trying to convince people to part with their money. Dazzle them with brilliance, but don’t baffle them with bullshit.
- Your lyrics must sing: So should your business plan, and it must not be a requiem.
- Need I repeat–repetition of words: What message are you trying to convey about your new business? Is it the same thing that others have done? Are you creating your own blue ocean where competition becomes irrelevant?
- Know your genre: There are many diverse rules in business. Are you a manufacturer? An e-tailer? What about a record company? You must know what is NOT working in these industries. As I said in a previous article, you must know the industry, and more importantly, know the target market. What are they clamoring for that the industry is not providing? What expensive service or good, is the industry providing that the target audience does not need?
Business plans and song writing require a set of skills. Most times you only have one chance to sell what you are offering. Make it count.