Writing business plans : Is it possible to define this task as "easy" or less challenging for first-time entrepreneurs (FTEs)?

Abstract:   Introduction Some researchers believe that Business plans are critical to the development of a new business idea and thus a new venture. However, others are of the view that these documents are completely useless to the business planning process. With these conflicting views existing, and the occurrence of various factors, the process of deciding to write a business plan and actually writing one can be quite challenging for First – Time entrepreneurs (FTEs) without any influence from background, education and training. This can increase the levels of complexity experienced by many new entrepreneurs. Purpose The aim of this research study is to first investigate the task of writing a business plan experienced by FTEs, then compare the personal experiences and observations of the author to those of others who have participated in this process, and finally compare the collective results to relevant theories and the views and beliefs of experts in writing business plans or creating new ventures. Furthermore, the main aim is to identify exactly if the writing process can be considered less challenging for FTEs, given the inclusion of certain factors, and what is actually meant by the term “easy”. Method To do this, experiences and personal opinions and observations have been collected from the author and former FTEs through the use of self – observation and narrative research techniques coupled with a series of open and probing questions. These were then compared to a collection of relevant literature, and views and opinions of the experts working with the industry. Conclusions With the inclusion of knowledge, literature and expert advice, the process  of writing a business plan becomes easier for FTEs. What this means is that FTEs are more prepared to undertake the writing process due to the absence of uncertainties and increased insight, and as a result, they execute the process more efficiently and better informed as to what tends to occur. In this perspective, the writing process itself becomes “easy”