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By Ellen L. Montero on June 13 2018 18:08:32
It is definitely not the most exciting part of starting a business. In fact, if you’re like a lot of entrepreneurs, you’re probably going to find yourself pulling a few all-nighters to get one done before heading into your first pitch for funding. Because that’s the thing--your business plan is a pretty important.
You may want to consider the following key questions to help determine if you are ready to start writing your business plan.
~ Have you thoroughly refined your business idea so you have a good understanding of how your business will operate?
~ Have you researched your business concept to determine if there is a need for it in the marketplace?
~ Have you completed a feasibility study to determine expected level of success?
~ Do you have the money required to start and grow the business?
~ Are you prepared to invest significant time into the business to get it up and running?
Size your business plan to fit your business. Remember that your business plan should be only as big as what you need to run your business.
Don’t make common mistakes. I’ve seen thousands of business plans, good and bad, and I can tell you that avoiding these common business planning errors will put you far ahead of the curve.
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