 |
Start with a Plan
According to the Small Business Administration, “a
business plan precisely defines your business, identifies
your goals and serves as your firm's resume… It helps
you allocate resources properly, handle unforeseen complications,
and make the right decisions….”
In sum, it’s the roadmap that tells you, your suppliers,
customers, employees, and partners where you’re going
and how you plan to get there. It’s essential to have
a fully developed business plan before you attempt to launch
your business. Without a plan, you’ll have trouble getting
financing, attracting qualified
workers, and figuring out if you’re where you should
be.
Business plans typically include the following sections:
- Overview
- Marketing Opportunity
- Business Profile/Description
- Marketing Plan
- Competitive Analysis
- Executive Management and Qualifications
- Financial Data and Projections
Don’t be intimidated by the jargon and the work. There
are several resources that can walk you through the process,
including:
|
|
