Creating a Basic Business Plan
Your business plan will be your roadmap for how your business will be funded, run and achieve the critical milestones that will make the venture a success. Let's address first the basics and what needs to be done to obtain/validate potential business investment interest or how to self fund in a realistic fashion. Without a clear roadmap, you will not be able to have visibility into critical factors that can impact your great next idea!!
First and most importantly you must clearly state in 1-2 sentences the objective of the business. What is your mission statement and what do others need to know about your business? This can quickly address a void you are trying to fill in a service or product area.
As an example “Job-Lander is in the business of filling the gaps left in the coaching process for students attending college or jumping into the workforce. It allows for students and graduates to align their passions and skills with the right choice of education or jobs in the workforce”.
What are your financial needs? An internet service, as an example, can leverage cheap tools already available online to help you;
1-Design your website and create your online store/presence.
2-Develop your online presence and strategy focused on clearly solving a business or student problem.
3- Collaboration and meeting tools including Google Works.
4- Low or no cost internship workers can assist with lowering the cost of labor and long term commitments.
Once you have proven your model by identifying a true void/gap in the market and identifying how you will address the gap, funding will be easier to obtain. Focus groups made up of potential clients can be organized to test your theory and practice. It is also a great source of feedback in answering critical aspects of your business idea.
- Constantly ask yourself these critical questions;
- What gap am I filling in the market for my idea?
- Who is your competition in this area?
- How large is the targeted market?
- What are your initial and ongoing resources and funding needs to run your business?
- Why is your solution better than your competitors?
- How will you measure your success?
We are here to help so please click here to take advantage of our complimentary 30 minute consult and or register for our cost effective training courses to drive your idea from start to implementation. Make your dreams come true by being your own boss and controlling your own destiny.