Where would a business be without a business plan? A business plan sets the course for the future of the business. It gives the business owner or manager a sense of direction, listing the objectives and goals of the business from the outset.
Writing a business plan requires a lot of time; a successful business plan cannot be a rush job. Once an idea for a business has been developed, researching the many facets of owning and operating a business is the next most important step. Your local county council should be able to assist you with accessing the required information of a legal nature, as should your local business enterprise center. The rest of the research will be up to you! You will need to research products for your business, at the same time as researching other enterprises that may be in direct competition to you. Furthermore, you need to research the market to determine whether there is a need for your business product or service.
With the research out of the way, sitting down to write a business plan requires focus. Your business plan will become the bible of your business for at least the next 3 to 5 years so it is important to make it clear, concise and comprehensive. Most enterprises will complete a SWOT analysis to determine their strengths, weaknesses, opportunities and threats of the business. Whilst the business is in infancy, brainstorming would be the most accurate way of performing the analysis, as the business would not yet have customers and profitability would not yet have been experienced. However, it is very important to remember that a good business plan is flexible and can be changed as your business experiences growth.
After completing a SWOT analysis, you will need to determine your business name if it has not already been decided (and register it), as well as your vision and values, your business goals and long term mission and how you will achieve all of this when the business is up and running. Writing every thought down regardless of how minute you feel it is will allow you to collate everything pertinent to your business for easy reference in the future. Who knows, the thought or idea that you have today may well turn into a million dollar idea in a years time! Maintaining good records and following a strong business plan is the key to a successful business!
Rietario Daffari is the owner of business ne which is a premier resource for business information. for more information, go to business ne
insured cleaning company Deerfield ..Does your small business have a banking and credit card... Read More
One of the most common issues that comes up for... Read More
Are the promoters and consultants destroying the market for Reverse... Read More
Do you need grant funding for your nonprofit organization? If... Read More
If you are thinking of turning your current into a... Read More
No, I'm not talking about gambling or dairy cows ?... Read More
As you may already know, asphalt paved parking lots do... Read More
Remember the cleaning business is all about time ratio to... Read More
Most small businesses incorporated in 2005 will fail by the... Read More
Most small business owners seek advisors who can help them... Read More
If you own a mobile service or home based franchise... Read More
Most pressure washing companies never look into some of the... Read More
The difference between rates and wages is not always clear... Read More
Whether your target audience is in your neighborhood or across... Read More
When starting a business, you have to determine the method... Read More
Fuel prices these days are quite high and they take... Read More
The choice of financing is an important determinant of whether... Read More
Everyday, customers and business owners are bombarded with billboards, logos,... Read More
We were more than excited. Our women's doubles tennis team... Read More
Completion not Perfection Five Keys To Doubling Your Productivity and... Read More
As a small business owner, outsourcing work to Virtual Assistants... Read More
The temporary staffing industry continues to expand, with yearly double-digit... Read More
The FTC, Federal Trade Commission, is considering modifying the franchise... Read More
Frankly, given the legal and regulatory requirements involved in attempting... Read More
In the first part of this article I put forward... Read More
top rated cleaning service Bannockburn ..Grow your Professional Organizer business by branching out into related... Read More
Your on-line success is based on your efforts and yours... Read More
Every business regardless of size needs a "Business Image Manual"... Read More
More sales and more profit. Isn't that what you want... Read More
The Service-Disabled Veteran-Owned Small Businesses (SDVOSB) is a program that... Read More
In my previous article, Step 1, your challenge for the... Read More
Did you know that satisfaction is the number one emotion... Read More
Ongoing support for a franchise system is omnipotent. A major... Read More
So what exactly is a "Small Business Lone Ranger?" A... Read More
And is having a logo really that important?My answer to... Read More
Many new ventures are preoccupied with all the money they... Read More
With all the cabinet refacing business opportunities out there, you... Read More
The start of a new year is a time for... Read More
Has this ever happened to you... 'John, you have a... Read More
The Federal Trade Commission is assisting competitor to cheat and... Read More
How a donation is different from a sponsorship and what... Read More
Just recently, I took a break and caught "The Return... Read More
Discover How Specialized Cost Containment Creates A New Win-Win Position... Read More
Under the Securities Act of 1933, any offer to sell... Read More
It's the dream of every person who starts a business... Read More
Q. I am a former pastor who left the ministry... Read More
If you own a small business, you should know that... Read More
Today required franchise disclosure documents are over 200 pages generally.... Read More
Is it right for you?If you decide to advertise your... Read More
If you are worried about how many different business cards... Read More
Small Business |