a destination and a way of travel. You have a travel agent
and you will have to deal with people along the way.
There may even be obstacles to overcome such as detours
begin a journey like this without a map? A map for a
business journey is called a business plan. A
business plan is the most important step in starting
your own business. You must have a plan in mind
and on paper to get loans any type of investing support.
Introduction
Your first page will be a cover page that will have the
name of your business and the names and addresses
of all the people involved. The second page will be the
introduction. You will explain in a few simple sentences
what your business does and relate any of it's
accomplishments. Write any information that will
capture the imagination of the reader so that he will
read on! Also it could be good to let the reader know
what is needed from him.
Product or Service
Describe in detail your product. Is it one of kind? Is your
way of marketing it unique? Is your location the best?
If any of these are true of your business now is the time
to express it. A simple drawing or a couple of
pictures may enhance this page.
Customers/Marketing
You will not be able to travel without customers. They will
provide fuel for the trip. So who are the customers in
your business??? How many are there and how will you
find them? The more data and statistics that you have to
show that you really know your customers, the more
credibility you will have.
On the marketing side be specific about how much money
you will spend to get them to give you their hard earned
money for your product. What is your marketing
strategy?
Competition
On this page you will build confidence in your reader.
What obstacles do you envision? What have you done
to prepare for them?
Management
On a trip there are reservations to be made and itineraries
to create. Who will do this is your business? Name this
person and his credentials. This will show that a qualified
person is definitely in charge. What exactly will his
responsibilities include?
Financial Page
What are your financial expectations? Predict your
sales and list the expenses that will be incurred.
Subtract the second from the first. Hopefully you have
reached your destination. It is prudent to have an
attorney who is familiar with business law to evaluate
your final copy.
With your business plan completed you will be
able to convince your peers that you mean business.
You will impress upon your suppliers the need to be
ready for you. The bank will conclude that it will be
profitable for them to assist you on your journey. Most
of all you will keep yourself on tract by avoiding side
roads which lead to nowhere. This will help your
business succeed.
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