Business Plan

Any good business idea needs a solid business plan. I recommend using the business plan template i found at

http://www.score.org/template_gallery.html

I find this business plan to be very thorough and thought provoking. I also recommend looking at some sample business plans to help structure your own. You can find several sample business plans at

http://www.bplans.com/sample_business_plans.cfm

A business plan is essential to any potentially successful business. It is worth it to take the time to do thorough research and to be honest about any areas of failure that may arise.

This is especially true if you are going to be seeking funding from an outside source such a bank or investor.

A solid business plan can take several weeks to write and should ideally be around 25-30 pages.

In following the sample business template, you will see what areas you need to spend time researching the most.

For me so far it is researching the market. Just because you have a good business idea or product does not mean people will want to buy it.

Who are the potential customers? Why will they buy your product?

Initially I felt a little overwhelmed by the idea of writing a business plan but realize the importance of following through and taking it step by step to ensure my business is a success.

A business plan will take several drafts to complete and can also be reviewed for free by someone at your local SCORE office.

SCORE "Counselors to America's Small Business" is a nonprofit association dedicated to educating entrepreneurs and the formation, growth and success of small business nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA).