Discover Why It's An Essential Ingredient To Your SuccessCreating a business plan is one of the very first steps you need to take when starting your own business.
Yes, even if you're only planning a small, online business! I say this with "tongue in cheek" as people sometimes think that running a business from home is different to running a business in the conventional sense. Wrong! The scope and size may differ but the same business principles apply.
Creating a business plan that is detailed and well structured can mean the difference between success and failure.
Creating A Business Plan
I'm sure you've heard the saying: He who fails to plan is planning to fail. Well, unfortunately, many businesses (on-line or otherwise) do fail. The reason for their failure is due to lack of planning and insufficient research before they actually start.
Before you can even consider creating a business plan, spend some time thinking about what I call "the three Cs": Concept, Customer and Capital (Cash).
Now that you have your business concept, you understand who your customer is and you know how much money you need, look at what you have to offer in the way of skills. Look at your strengths. What are you particularly good at? Are there skills that you need to develop?
If you're considering going into business with someone else then consider their strenghts as well. Make sure that they have skills that complement yours. This could potentially save you lots of money as you won't have to hire additional people to bridge the gaps.
The next step in the process is to set some goals. And only once you have set your goals can you think of developing your business plan.
In this section of the website you'll find articles that relate to creating a business plan.