Establishing a Business Plan
Posted: September 10, 2019
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Starting a business can be an exciting thing. If it's the first time you're branching out on your own, it can also be a bit scary. Having basic goals and vision laid out is definitely important, but that's not quite everything. You'll need a good, solid business plan to follow, especially if you're looking for investors and financial supporters. Having a good business plan in place can help your dreams of independent success become a reality.
The editor of Dumb Little Man shares helpful information for establishing a business plan.
That time has finally come—you’re ready to start a business of your own. You’ve got an idea to sell the world on, and perhaps you’ve even got some basic goals laid out. But getting started in the realm of business is often easier said than done, and investors are going to want to see more than just your dream if they’re laying down cold, hard cash. You’ll need to develop a business plan, something you can show investors to prove they won’t just be throwing their money away.
So, how does one go about developing a business plan? Let’s look at the basics of formulating a business plan, as well as some of the things to avoid, to better help realize your dream.
DO: Look at Different Types of Business Plans to Find What’s Best for You
Business plans don’t come one-size-fits-all these days. While what’s referred to as the “traditional” business plan is a good choice for most, traditional plans can take a very long time to create, and may require a fair amount of upfront investment in research and market analysis in order to prove there’s a demand for your product. If you were, for example, starting a restaurant and trying to get a business loan from a bank, they would likely want to see a more traditional business plan.
Read the entire article,
The Do’s and Don’ts of Establishing a Business Plan, on
Dumb Little Man.