Starting a business requires more than an idea, you need a plan. You may have invented this century’s post-it note, but if you can’t figure out how to get it into your customers hand & make a profit at the same time, what’s the point!
The last time I wrote a business plan before venturing out into business for myself was during my undergrad days. I had to write a business plan for the one business writing course I was required to take to earn my Bachelors’ Degree in Accounting. Long gone was my ‘writing for business’ textbook. Google & I needed to become fast friends…How-to-write-a-business-plan-? Search.
The short version of this story is…you need a plan. A written plan is preferred. If your plan is in your head, you will have difficulty sharing your plan with others & reaching your goals. A few important points to consider when developing your plan…
- Who is your customer or your target market?
- What need will your product or service satisfy?
- How will I reach my customer?
- How much do you need to service or sell to break even, earn a profit & feed your family?
A business plan is more exhaustive than the questions above, but if you start to evaluate the above questions the rest of your business plan with start to come together.
There are many wonderful resources on the internet for developing & writing a business plan. Face to face assistance can be solicited in many communities. Contact your local Chamber of Commerce, University/Community College & they will help direct you to the proper resources, organizations & centers. Your accountant & trusted business advisor can help you get started with initial planning & revenue goals & provide long-term support while on your journey.
If your accountant doesn’t offer this service we can help. You don’t even need to be in the same part of the US… we can communicated online via internet conferencing. With real-time access, your accountant & trusted business advisor located anywhere in the world can help you operate, understand & grow your business rather than just adding up the numbers. To find out more, contact us at bodhi@bodhibusinessadvisors.com.
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