How to Write A Business Plan pt3 - (Group-Your Business in 2010) (405 hits)
Hello Everyone. I wanted to elaborate on my blog “How to Write a Business Plan” pt 2 and give a little more information on this subject and relay to you my personal situation with writing a business plan. As I said before Business planning is about results. You need to make the contents of your plan match your purpose, and the reasons for writing a business plans covers a lot of purposes. (It’s something to show your investors, it shows how to handle your suppliers as well as your employee’s). Starting a business without a plan is like taking a 2000 mile trip without a map. Planning will shape your destination and show you the best way to get there. I truly believe without a plan you’re headed to nowhere but failure. I hope eventually some of the members of this group will share their business testimonies which will in turn help others. I myself, back in 1985, with the help of the SBA (Small Business Administration) got a $60,000.00 grant for my first beauty salon. I did get rejected the first few times because of how my Business Plan was written. With my business plan properly written with help from the SBA, I was able to secure a grant and business loan in 1986. If you are to survive and prosper, you should take the time to identify the niches in which you are most likely to succeed. Here are the beginning steps I have taken for my plan along with my answers for this new business to give you a general idea. 1. What service or product am I going to provide and what need does it fill? I am going to sell my own handmade jewelry line. The need it fills is that women and men like to look good and I feel my designs will do just that. 2. Who will my potential customers be and why do you think they will buy from you? My potential customers will be my already established customers as well as customers I will meet in my travels. 3. How will you reach these customers? Through events and expos, through my internet store http://houseofflava.biz and http://flavawear.etsy.com, through Social networking sites, through word of mouth and through flyers I will hand out daily as well as repeat sales. 4. Where will you get the financial resources to start and operate your business? I already own a business, so my financial resources will come from there. It will be an extension of what I already have. A good business plan is a compelling storyboard about your business. It explains: 1. Who you are. 2. Why you’re in business 3. What you do, how you do it 4. Where you operate 5. How you will generate profits 6. Who your customers are 7. Why your business is important These are very important questions you should have answered before you start your business. If any one is interested in this course information, please contact me. I took the course and would like to share it with others. I am preparing my notes and putting them in PDF form. It’s a little long so I didn’t want to continue to blog. I want to explain every detail from the course. I just want God’s people to get ahead and feel if we learn something significant we should share so we can do it the right way. Thanks. God Bless You All!
