Starting a Business Plan
Starting a new business is an exciting venture and has its unique mix of challenges and rewards. Many are set-up for failure if no clear goals or measures are established and adhered. According to the Small Business Administration, “Planning is critical to successfully starting and building a business.” The best advice for a new entrepreneur interested in starting a business is to create a solid business plan that outlines the business in its entirety. A well-constructed, written business plan will help owners remain focused on their operations, marketing and financial measures through the duration of the business life. In addition, knowing the risks involved in starting a business can help prevent and minimize mistakes that cause many entrepreneurs to fail within the first year. Business plans should continuously be revised, edited and built-upon so the business can stay afloat and in the right direction. Entrepreneurs who invests a significant amount of time, money and resources into a business opportunity should consider creating a business plan to have the best chance of success.
Start a Business with a Plan
It’s important that opening a business of any size requires careful consideration and thoughtful planning. Almost every individual is aware of this fact. The reasons of starting a business can vary independently by the individual and is most often the first thought of their entrepreneurial decision. Maybe it’s the liberated idea of becoming your own boss or the simple credence that an individual feels can better utilize their talents and resources then for their own employer. Maybe an individual feels that they maintain enough clients to manage their own start-up foundation or hold a competitive product or service that they can innovate and introduce to the market. Whatever the reason is, the individual believes their own business will provide a means of independence, control, satisfaction, increase in income and value. But its far too important to
Start a Business with a Plan
It’s important that opening a business of any size requires careful consideration and thoughtful planning. Almost every individual is aware of this fact. The reasons of starting a business can vary independently by the individual and is most often the first thought of their entrepreneurial decision. Maybe it’s the liberated idea of becoming your own boss or the simple credence that an individual feels can better utilize their talents and resources then for their own employer. Maybe an individual feels that they maintain enough clients to manage their own start-up foundation or hold a competitive product or service that they can innovate and introduce to the market. Whatever the reason is, the individual believes their own business will provide a means of independence, control, satisfaction, increase in income and value. But its far too important to
References: Fisher, S. (2011, April 12). Your Business Plan Blue Print – Part 4 – Company Overview. The Bottom Line. Retrieved December 11, 2012, from http://outright.com/blog/your-business-plan-blueprint-part-4-company- overview. Guide for Writing a Business Plan. (n.d.). In SBA.gov. Retrieved December 11, 2012 from http://www.sba.gov/content/templates-writing-business-plan. Oman, J. (2011). Understanding Your Competition. Small Business BC. Retrieved December 11, 2012, from http://www.smallbusinessbc.ca/starting-a- business/understanding-your-competition. Wasserman, E. (2010). How to Write a Great Business Plan. Inc. Retrieved December 11, 2012, from http://www.inc.com/guides/write-a-great-business- plan.html.