Building a Business Plan

Level 9

Since: Nov 10


#1 Jan 9, 2012
It's 2012, make a plan to make it happen. I hope the format of the text shows correctly on topix.

Building a Business Plan

A business plan is a written document that defines the goals of your business and describes the means you will use to attain those goals. Every small business owner should prepare one, though in reality many do not. Although creating a business plan will take a lot of time, effort, and energy, it'll be well worth the trouble.

Why have a business plan? Formulating a written business plan will force you think about where you want your business to go and how you're going to get there. It will become, in effect, a roadmap for you to follow as your business grows and develops. And, of course, if you ever intend to borrow money or establish credit, you'll be asked to produce a business plan.

A business plan can be assembled in any number of ways. However, some essential components should be included in any plan, which are listed below:

■ Description of the business. Describe the business, including what the products and services of the business are.

■ The marketing plan. Describe the target market for your product and explain how you will reach that market.

■ The financial management plan. Detail the costs associated with operating your business and explain how you will pay those costs. Will you need financing to start the business? If so, how much.

■ The operations management plan. Describe how you will manage the core processes of your business, including use of human resources.

Level 9

Since: Nov 10


#2 Jan 9, 2012
Sorry about that... topix doesn't give you options with the use of BBC3 coding.

Anyway, please correct the lines if needed....

Business Planning Worksheet

Save and Print Summary:

Use this worksheet to collect the information you need to evaluate your business idea and get your business off to a good start.

Before you go into business you should attempt to learn as much about the business (and yourself!) as possible.

This worksheet--if you actually fill it out and answer all questions honestly--will help you collect and evaluate essential information about yourself and the business you would like to start.

While it won't give you all the facts you need to determine if you should pursue your business idea, it will help you answer some very fundamental questions and help you identify possible pitfalls.

List the reasons you want to go into business for yourself

Are you willing to work long hours even if this business doesn't make money immediately?

Have you ever worked in a similar business?

Have you ever worked as a foreman or manager?

Have you taken any business courses in school?

Describe what you plan to sell in one or two sentences?

Describe your typical customer:

Consumer sales
Age __________
Sex __________
Family income:_________
Geographic location:_________
Buying habits:_________
Frequency of product use:_________

Business Sales
Purchasing/decision maker:_________

How big is the market?_________

Is the market growing, static, or declining?________

How much of the market can you reach?_________

In what geographic areas are those kinds of businesses and/or consumers located?_________

How will you get your products or services to them, or how will they (customers) get to you?_________

Who are your competitors?_________

How well are they doing?_________

Level 9

Since: Nov 10


#3 Jan 9, 2012
SMH, at least someone took the time to rate.

Level 2

Since: Jan 12

Peidmont, Ca

#4 Jan 9, 2012
MsNewNew wrote:
SMH, at least someone took the time to rate.
Don't be dis-heartened sweetie. Posters on here are not interested in this. they are more into controversial threads.

I do own my Architectural business. So what you have posted here makes a lot of sense.

Level 9

Since: Nov 10


#5 Jan 9, 2012
1John wrote:
<quoted text>
Don't be dis-heartened sweetie. Posters on here are not interested in this. they are more into controversial threads.
I do own my Architectural business. So what you have posted here makes a lot of sense.
Yeah, all we can do is try.

Wishing you much success.

Level 9

Since: Nov 10


#6 Jul 20, 2012
Bumping for any newbies to add...

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