Now you have a great idea for your business, one that you feel is viable. What next?
Write a mission statement. This can be as short as one sentence, but no longer than a paragraph. It should be a clear and concise snapshot of your company's goal and purpose, as you view it and as you want others to view it.
The next step is your business plan. Not only will this be neccesary in order to obtain financing, it forces you to begin thinking solidly about how you will turn your idea into a profitable venture. It makes everything real, and is your first step in turning from a dreamer into an entrepreneur. What will your start-up costs be? Is there a market for your product or service? Who are your competitors? Where do you expect to be one year from now? Five years from now?
Each section of your business plan will require a different type of research and thinking. Over the course of this week, we will go over a basic plan outline, look at some sample plans, and discuss alternatives available if you don't feel comfortable writing the entire plan from scratch on your own.
What do you think are the most important elements of a good business plan? By the end of the week, you will know the answer to that question and many more.
» Authors' Top Picks for Week of 1/16 from Know More Media
Each week we poll our team of Authors for their favorite posts on their own blogs. We find it interesting to identify the entries the Authors themselves feel are their most compelling. Without further ado, here follows our Authors’ Top... [Read More]
Tracked on: January 26, 2006 5:08 PM | Permalink to Trackback