| The first thing to do when starting a small business is | | | | give yourself and would-be investors a clear picture of |
| to write a plan for your business, it is very essential | | | | where your business is situated geographically and |
| and useful if you really want to focus yourself and get | | | | with relation to your overall market. |
| a whole picture of what you have to do in order to | | | | How to make it happen? |
| build your enterprise. A business plan is the road map | | | | Your sales and marketing research or plan should be |
| for the success of your business | | | | outlined in this section. Explain how you intend to |
| What do you have to offer? | | | | establish your product or service and what steps you |
| What are your products or what are your intended | | | | will take to create or expand your customer base. |
| products? What are your products or services? What | | | | How will you fund the start-up cost and the expansion |
| kind of income will these activities be generating or | | | | of your business? Explain the source of your funds |
| what is the expected range of income once the | | | | whether you have existing loans, your savings, |
| products are launched? Give answers to these | | | | borrowing from friends or liabilities. How much money |
| questions giving a complete picture of the principal | | | | do you need to raise in order to get realize your entire |
| activity that you are engaged in or will be engaged in | | | | plan for the launching or expansion of your business? |
| during the timeline of your business plan. | | | | Explain how you are going to put your business idea |
| Where are you located? | | | | into practice. |
| Do you work from home or do you have a business | | | | Having a good business plan is your key to success. A |
| premises? If you have a business location such as a | | | | well-thought-out business plan forces you to think |
| store or factory, then explain about the size and | | | | about the future and the challenges you will be facing. |
| capacity of this establishment. What is the business | | | | As long as your forecasts are realistic and you have |
| climate like in your area? Are there significant | | | | done plenty of market research you will definitely |
| competitors and what are your prospects or | | | | come out with a good result. Go ahead with your plan |
| advantages of competing in this market? Find | | | | and stick to it. |
| answers to all these questions as best you can and | | | | To your success! |