Writing a business plan for your Solo Entrepreneur business doesn't have to be a daunting project. If you can answer 10 straightforward questions about your business, you can be ready to go.
The key to success is to answer all of the questions in enough depth that if a friend asked you to invest in this business, you'd say yes. Most importantly, make sure you record your business plan somehow...whether you write it by hand, type it into your computer, or put it on stickie notes on your wall. Keep it someplace handy where you can refer to it when you are making important business decisions. And, make sure you review it monthly--or, even better, weekly--and update it at least annually.
1. Your Dreams: What do you want your business to provide for you? (think time, money, freedom, who you work with) Be specific--how much money, how many hours, when do you want to "retire".
2. Customers: Who are your customers and what do they want/need?
3. Products and Services: What products/services will you provide to meet customer's needs?
4. Markets: Where are your customers and what do you know about them as a group? "Where" might be geographic, it might be what kind of places they hang out, or where they go to find products or services like yours. What is their age, income, gender, hobbies, family structure, etc.
5. Your Style: How will you reach customers and what will you say? Your methods of reaching customers needs to match with where your customers are--and with a message that they can relate to.
6. Competitors: Where else are your customers likely to get this need met? Find out all you can about how your competitors price, market, and provide service.
7. Your Uniqueness: How will your product/service meet customer's needs differently than your competitors? Consider how your personal uniqueness impacts that.
8. Your Abilities: Of the skills necessary to run your business, what do you do well, and what do you need help with?
9. External Resources: What people/technology/services will support you in the skills you need help with?
10. Fulfilling your Dreams: How will your business provide the kind of working environment you desire, both in how much time you spend, how you perform your work, and how much money you make? Here's where the rubber meets the road--make sure you can show how you will sell X amount of product or service at Y price, cover your expenses, and reach the goals you set in 1. above.
Once you can answer all these questions, have it reviewed by some trusted, experienced professionals who will give you objective feedback. Consider a business coach, as one such resource!
Copyright 2004, Terri Zwierzynski - Accel Innovation, Inc.
_________
Terri Zwierzynski is a coach to small business owners and Solo Entrepreneurs. She is also the CEI (Conductor of Extraordinary Ideas) at Solo-E.com and the author of 136 Ways To Market Your Small Business. Terri is an MBA honors graduate from UNC-Chapel Hill. Terri has been coaching for over 10 years in a variety of settings, including 6 years as a senior-level coach and consultant for a Fortune 500 company. She opened her private coaching practice in 2001. You can reach Terri at http://www.terriz.com.
_________
***** Find more articles like this at http://www.terriz.com. ? Keeping Solo Entrepreneurs Juiced in Business and in Life. Our team of Solo Entrepreneurs are comprised of small business experts who support others in finding business success with the flexibility and freedom to have a life, too. Network with other freelancers, self-employed and Solo Entrepreneurs in our forums, enjoy our articles and newsletter, and find other online training opportunities. *****
monthly home cleaning Buffalo Grove ..If you are a non-operator owner of many work trucks,... Read More
My colleague, Jane, recently lamented to me an all too... Read More
Many auto detailers fall short in their sales presentations. I... Read More
Summer is a time for the outdoors, for that well-deserved... Read More
If you've been thinking about starting a business, but are... Read More
The Federal Trade Commission is assisting competitor to cheat and... Read More
In the world today, many people are further in debt... Read More
As a solo entrepreneur or small business owner, one of... Read More
The Operations Plan is a critical component of any business... Read More
Opening a carpet cleaning business is a great way to... Read More
Why should you always maintain a good report with a... Read More
One way to determine your companies mission statement is based... Read More
The start of a new year is a time for... Read More
Tap these treasures of ideas. The best money you can... Read More
What is a Family Business? A family business is basically... Read More
A Brilliant Marketing Idea... sounds great but what is it?... Read More
Contrary to popular belief, small businesses can survive a crazy... Read More
Consistency is a huge word when operating your business. I... Read More
While driving through Pennsylvania farmland, you have probably noticed an... Read More
Work smarter, not harderWhat is one of the best ways... Read More
A Small Business Opportunities Magazine is one of the new... Read More
Small business owners often enter their field with great expectations.... Read More
You've heard marketing and advertising gurus quip, "Sell the sizzle,... Read More
Image of your franchise automotive outlet is so important. Some... Read More
As an entrepreneur you can learn a lot by following... Read More
scheduled maid service Mundelein ..I'll be the first to admit that I went a... Read More
Many businesses offer small business franchise opportunities. There are many... Read More
With all the cabinet refacing business opportunities out there, you... Read More
If your home business is not performing the way you... Read More
What is the best time to expand a mobile car... Read More
A tongue-in-cheek look at the skills required to operate a... Read More
Many years ago, I had warned the carwash industry of... Read More
The modern Franchise business model and the much different business... Read More
Too often in business we get trapped into reviewing our... Read More
You've heard marketing and advertising gurus quip, "Sell the sizzle,... Read More
If you are the boss and you think your job... Read More
North County San Diego has had some significant growth, and... Read More
How is your pipeline structured?I assume most of you have... Read More
As a solo entrepreneur or small business owner, one of... Read More
No matter what kind of small business you have, you... Read More
So what exactly is a "Small Business Lone Ranger?" A... Read More
Think of your business as a living, breathing, organism. It... Read More
If you run a mobile car wash, mobile fleet washing... Read More
When you awoke this morning, you found yourself buzzing with... Read More
Search Engines account for almost 90% of all web traffic!In... Read More
How far can you go based on your relationship with... Read More
Traditional advertising methods are still being used for almost 90%... Read More
A top executive called up me late in the night.... Read More
Most business owners know when they need an accountant, but... Read More
Buyers want both online and local information about where to... Read More
Small Business |