Business Plan Lesson 4: Business Strategy
This is the fourth part of a 10 part series on business planning which we will run once a week on Fridays. If you want to be sure to see all the posts sign up for the Free Weekly Business Planning Series and we will send you weekly updates of the sections you have missed. You will also receive a blank business plan outline to use as a foundation. When it’s time for a road trip, how do you plan your route? Do you tend to stick to all the major highways, do you try to save time with a little-known shortcut, or do you end up lost and confused on an unmarked back road? The business strategy...
read moreBusiness Plan Lesson 3: Market Research in Business Plans
This is week three of our Ten Week Business Plan course. If you would like to get reminders about all ten weeks, simply sign up for our eCourse and get a free business plan outline at the same time! When you prepare to vacation in a new city, state, or country, do you set out uninformed about your destination — or do you read a few guidebooks, surf the Internet for advice, or perhaps visit a travel agent? You likely do at least a little bit of homework first so that you know what to expect. Customers Everyone is NOT your customer. The more well-defined your customer, the more confidence...
read moreBusiness Plan Lesson 2: History and Position to Date
This is week two of our Ten Week Business Plan course. If you would like to get reminders about all ten weeks, simply sign up for our eCourse and get a free business plan outline at the same time! Introduction to Your Plan – The History and Position to Date This section introduces the reader to you and your company; it outlines the competitive environment and states how your business fits into the market. Why did you start the business? How did you arrive at your business idea? Why will your business be successful? What have you done so far? Vision, Mission, Value and Goals Vision...
read moreBusiness Plan – Lesson 1 – What Should Your Business Plan Contain?
This is week one of our Ten Week Business Plan course. If you would like to get reminders about all ten weeks, simply sign up for our eCourse and get a free business plan outline at the same time! What Is a Business Plan? A business plan is simply a tool to help a business look ahead, allocate resources, focus on key points, and prepare for opportunities and problems. You use it the same way you study a map to plan a route, determine where to turn, and locate key landmarks. A complete plan includes descriptions of the company, product or service, market, forecasts, management team, and...
read moreWhy Do You Own Your Own Business?
As a small business owner, I am often asked this question by friends and family. And as a consultant for small business owners, I ask them the same question. Why Do You Own Your Own Business? The answers are as varied as the personalities of the different owners. There is no one reason which applies to all of us. But I am always curious, what drives people to start a business. In this month’s issue of Inc Magazine, there were responses from a number of successful CEO’s to this very question. Steve Slovick, Price Perspective said: “No one to challenge my bar bill...
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