Business Plan

Business Plan

• What is a Business Plan?

o Why prepare a business plan?

o What to avoid in your business plan

• Business Plan Format

o Vision statement

o The people

o Business profile

o Economic assessment

• Six Steps to a Great Business Plan

o Basic business concept

o Feasibility and specifics

o Focus and refine concept

o Outline the specifics of your business

o Put your plan into a compelling form

o Review sample plans

• Does Your Plan Include the Following Necessary Factors

o A sound business concept

o Understanding your market

o Healthy, growing and stable industry

o Capable management

o Able financial control

o Consistent business focus

o Mindset to anticipate change

o Plans for online business

• Formulate (and Reformulate) Your Business Plan

• Top Ten Do's and Don'ts

What Is A Business Plan?

The primary value of your business plan will be to create a written outline that evaluates all aspects of the economic viability of your business venture including a description and analysis of your business prospects.

Keep in mind that creating a business plan is an essential step for any prudent entrepreneur to take, regardless of the size of the business. This step is too often skipped, but we have made it easy for you by providing this ready format to build your plan as you progress through this course.

Business plans can vary enormously. Libraries and bookstores have books devoted to business plan formats. This course is a starting point.

Your business plan will become your roadmap to chart the course of your business. But at the outset you cannot predict all of changing conditions that will surface. So after you have opened for business, it is important that you periodically review and update you plan.

Why Prepare A Business Plan?...