Writing Out Your Path Ahead
Sitting down to write a business plan can feel daunting. Certainly, you know you need a plan. Actually putting pen to paper to create one, however, is an entirely different story. To help you get your plan captured, ask yourself these questions. The answers will drive you towards the right plan for your business.
- What Is My Goal? First, set out what you hope to accomplish through your business, both internally (what you hope your company will do for you) and externally (what you hope your business will do for the world). Based off the external motivators, create a mission statement to let others know why your business exists.
- Who Do I Hope To Serve? Get clear on who you want your customers to be. Categorize your clients and determine how you can best reach them.
- How Will I Do Business? Look at other business models, then hone in on how you want your day-to-day operations to run. If you will bring on staff, consider crafting an employee handbook and benefits package so they can know what to expect from your business.
- What Will It Cost? Make a budget including your start-up costs and ongoing operating expenses. Try to capture a realistic idea of what your cash flow will look like to ensure you have the capital you need to get your business off the ground.
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