This is a good thing trust me – it gives you space to breathe!
And every growing business needs a touch of that no matter how established it is.————————————————————————————–Deborah Sweeney is the CEO of My Corporation.com, the leader in online filing services for entrepreneurs and businesses.
Deborah is a member of the American Bar Association, servces on the Board of Regents at California Lutheran University, and is a contributing blogger with Forbes, American Express, and many more business blogs.
If you’re finishing up your business plan and starting to think about presenting it to potential investors and lenders, you MUST spend quality time and energy preparing your presentation.
Below is a basic outline of what these steps are and what they mean:1) Executive Summary – typically this is placed at the end and is a quick summary of the plan as a whole.2) Business Description – the history behind your business, what the product or service is and does, the development stage you’re in and much more can be found here.3) Market Analysis – who your target audience is and what they need.4) Implementation Strategies – how you plan on reaching said audience and the methods you’ll track your results with.5) Web Plan – particularly important if your business operates online, where you’ll discuss development costs, marketing strategies and more for your website.6) Management Plan – the members of your business’ team and their core responsibilities.7) Financial Analysis – where you’ll keep tables related to your cash flow and projected profit and loss.2) Do you know why you’re writing this? Chances are really high that you aren’t the first person to have thought up this brilliant product and don’t have at least a couple of competitors to deal with in the market.
Know your competition and what they’re doing, both right and wrong, but don’t make their work your complete focus.
Have you put much thought into a business plan or discussed this with your business partners?
Writing a business plan is extremely important for your new start-up, as it will determine if your business will succeed in this competitive business world.
Entrepreneurs are by nature positive, confident, and can-do people.
So, you need to plan, set goals, and above all, know your business plan.