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Write Your Business Plan
Continued
Plan Your Work, Work Your Plan
As stated previously, the business
plan is a necessity, and the importance of a comprehensive,
thoughtful, business plan cannot be overemphasized.
There's a lot that hinges the business plan—outside
funding, credit from suppliers, management of your operation
and finances, promotion and marketing of your business, and
achievement of your goals and objectives.
Despite the importance of a business plan, many entrepreneurs
hesitate when it comes to preparing one. They argue that their
marketplace changes too fast for a business plan to be useful
or that they just don't have enough time.
But, just as a builder won't begin construction without a
blueprint, eager business owners shouldn't rush into new ventures
without a business plan.
Before you begin writing your business plan,
consider these key questions that must be addressed:
- How will the business be started?
- Why will it succeed?
- What experience do you bring to the business?
- What is the principal activity?
- What service or product does your business provide and
what needs does it fill?
- Who are the potential customers for your product or service
and why will they purchase it from you?
- How will you reach your potential customers?
- Where will you get the financial resources to start your
business?
Click here
to view a basic business plan outline.
Developing a business plan forces you
to take an objective and critical look at your business idea.
The finished product is an operational
tool that will help move your business toward success.
Stage
5: Consider Your Finances >>
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Getting
Started 
