| A business plan is a management tool. Do you need a | | | | your business plan helps determine your objectives |
| business plan? Yes if you: | | | | and focuses you on the strategies and action plans |
| You Need To Decide Whether To Start A Business | | | | necessary to accomplish those objectives. |
| This plan will help you improve your chances for | | | | If you're looking to boost your business it's time to |
| success and avoid making serious mistakes. You may | | | | answer a few questions in your business plan.o What |
| be the only one who reads this plan, although you | | | | are your skill levels and talents?o What are goals for |
| should have input from a number of other people with | | | | each month's sales?o What are your resources, time |
| business experience. You need to ask yourself the | | | | available, advertising and promotional budget, |
| following questions and incorporate the answers in | | | | website?o Do you have the necessary equipment? If |
| your business plan:o What does it take to succeed in | | | | you don't, how will you obtain the equipment?o What |
| this type of company?o Do you have the skills and | | | | barriers do you face? |
| background necessary?o Can you afford to take the | | | | You Want To Better Organize Your Company or |
| risk? What effect would the business' failure have on | | | | Improve Its Operations. |
| you?o What is the growth potential for the business? | | | | This is a time and task oriented plan for use internally. It |
| Can it meet your financial expectations and | | | | suggests actions that need to be taken and assigns |
| requirements?o Is there a large enough market for | | | | responsibility. Questions that need to be answered:o |
| your products/services?o Will you enjoy owning and | | | | How does our company compare to leaders in its |
| managing the business? | | | | industry?o What are our management weaknesses? |
| A business plan is an important ingredient to the | | | | How can we make improvements?o How can we |
| success of a start-up business. | | | | increase sales, serve the customer better, improve |
| You Want to Jump Start Your Business | | | | manufacturing efficiency, increase the gross margin?o |
| Whether you're an entrepreneur doing business on the | | | | Do we have the necessary resources to make the |
| Internet, a stay-at-home Mom with an arts and crafts | | | | above improvements? If not how will we obtain the |
| company, or a writer trying to break into publishing, a | | | | resources? Do we need a bank loan or line of credit? |
| business plan acts as a guide to success. Developing | | | | |