Your 30 Minute Home Business Plan
When I started my first business I didnít have a solid, well thought-out business plan. I threw together a rough one that I used to apply for a bank loan (which I didnít get, by the way). Iíve found the best way to make sure a business is going to be successful is to create a business plan. It doesnít need to be pages long and take you days and days to complete. Below Iíve created a quick 30 Minute Business Plan. A good business plan will help you figure out approximately what your business will cost to get off the ground. You donít want to guess at this. Knowing your costs will help you decide what youíre going to charge. The 30 Minute Business Plan below also includes information about your competition. Donít forget about them. In one way or another they exist and youíre going to want to get to know them. The bottom line Ė most businesses fail because they donít have a clearly spelled-out business plan. Donít make that mistake. For those of you who have been in business for awhile, donít think a business plan canít help you. Your business plan should be taken out on a regular basis, reread and updated. Your 30 Minute Home Business Plan
1. What is your business exactly? Explain in one or two sentences. (If you canít describe your business in a couple of sentences, rethink your business and focus your idea).
2. Is your particular business needed? List the reasons that make you thinks so.
3. Where do you see your business in one year? In three years? In five years? (Be specific.)
4. How will you fund your business? Savings, credit cards, loans?
5. What equipment/office supplies/licenses will you need to get your business started? Total Cost?
6. What organizations and trade publications will you need? Total Cost?
7. Who is your target customer? Describe them.
8. What other businesses will you be competing with?
9. What makes your business different from your competitorís business? (Include price, quality, unique services, etc.)
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