Writing a Business Plan |
| Date Added: May 07, 2007 10:10:54 PM |
| Author: |
| Category: Business: Small Business: Business Plans |
| Writing a Business Plan Are you getting ready to start developing your business plan? If so, have you thought about how you are going to go about developing that business plan or what you should include in it? If you are unfamiliar with business plans, particularly what they include, you may want to the take the time to familiarize yourself with items commonly found on a business plan. Doing so may make it easier for you to develop a business plan that will fit your needs. One of the most important things that you should include on a business plan is the type of business that you are interested in starting. For example, are you interested in starting a retail store, an online store, or a cleaning service? Regardless of which type of business you plan on starting, you need to outline that business, preferably in great detail. It is also important to mention the products or services that you plan on selling, also in great detail. It is also important to mention where your business will be located or, at least, where you want your business to be located at. If you are planning on starting an internet business, this process will be a little bit easier to explain. If you are starting an internet business, it may be a good idea to mention the domain name that you would like to choose for your online website. If you are planning on running a storefront business, you will want to focus on properties that are available for sale or for rent. If you do not want to do this, you will, at least, want to focus on the type of building that you would like to rent or buy and your preferred business location. Another point that you should mentioned in your business plan is how your business will be run. For example, will you be running your own business or will you hire someone else to run it for you? It is also important to mention whether or not you plan on hiring outside assistance. The amount of staff that you would like to hire is important when examining the potential success of your business, as well as the costs associated with running it. In addition to your business expenses, it is also important to focus on how you plan on generating income for your business. That is why your business plan should include advertising or marketing strategies. These strategies should be used to reach your target audience. Your target audience is who you think is most likely to become a client or a customer of yours. In fact, your target audience should also be outlined in your business plan. It is also advised that your business plan focus on your competition. This is extremely important, especially if you are planning on using your business plan to obtain financing for your up and coming business venture. Financial lenders and investors will want to make sure that your business will be a success. In most cases, you will find that the success of your business relies on the competition. That is why it is advised that you obtain an accurate count of businesses in your area that are offering the same products or services as you are, as well as the prices that those products and services are being offered at. The above mentioned points are just a few of the many that you will want to cover, when making your business plan. Some of the other points that are worth mentioning include your financial needs, security plans, and business insurance. |
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