Every week we get emails asking where to begin when writing a business plan. Obviously no two people approach creating a business plan the same way, but here's a few general tips:

Begin with solid research. There's no point in even bothering with a business plan if it turns out your idea isn't actually viable. Can you pinpoint a need for whatever service or product you intend to offer? Unless you're providing a brand new product that no one knew they needed (hello Twitter!), this should be evident, and should serve as the backbone of your business plan.

Your research should also include a thorough analysis of the competition. Are there already businesses doing the same thing you plan to do? If so, how will you be different? If your business isn't any different, then you have to figure out how you'll compete.

Determining whether or not your idea is viable also means working out the numbers. If you're selling a product, what's your price point? What can you expect your costs and expenses to look like? And what about the volume of sales? Getting a realistic sense of the size and scope of your market can help determine that number.

Sorting out all these details—as monotonous as that may be—is an important first step to putting together a compelling business plan. Does anyone else have any tips?