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APPLY YOUR KNOWLEDGE IN NEW WAYS
One of the quickest ways to increase the income from your home business is to develop new products or services which relate to the products you are already selling. This works for two reasons: first, you have the opportunity to sell the new products...
Compete vs. Create: Which One Describes Your Business Approach?
Compete vs. Create: Consider these definitions: Compete:To contend with another or others for a prize, superiority, etc. Syn. vie, rival, contest, oppose. Create:To cause to come into existence; originate. To be the cause of; bring about. Syn....
How to Stay Motivated - Part 1
As a "Motivation Trainer" for over 20 years, I have researched the subject of "Motivation." It is talked about a lot, but not very much is taught or written about it. It seems to be a word that eludes us. I often here people say: "Can you...
What is an Artist's Statement & How Often Should It Be Updated?
An artist’s statement is a statement of ideas and thoughts that describe your philosophy, vision, and passion towards your artistic creations. Ponder over the following questions prior to writing your artist’s statement: ...
Wrapping Up Your Year in Present Time
T he end of the year is a natural time for reflection. And depending what frame of mind you're in, the changing year can either feel great-or miserable. Are you counting your blessings or counting your hard luck stories? B efore you even...
 
Prepare Your Business For Opening Day

Every new business venture begins with a plan. Before
opening your doors for business, whether virtual or physical,
you must be prepared for the many details involved in running
a business. Thinking through these details and putting them
on paper helps you to be prepared.

OBJECTIVES OF YOUR BUSINESS PLAN

A business plan lays out the future of your business. It is a
written document which tells what you do and how you plan
to do it. While your plan is a unique document designed for
your type of business, there are certain objectives contained
within any good business plan:

1. Sets forth goals and how they will be achieved.

2. Defines obstacles and outlines strategies to overcome them.

3. States the legal and organizational structure of the business.

4. Quantifies financial needs and makes financial projections.

LENGTH OF YOUR BUSINESS PLAN

The length of your plan depends on the purpose you will
use it for. If you need to acquire venture capital for your
business, you may need to provide extensive detail for
prospective investors. If your plan is simply a roadmap for
you to follow, it can be quite short. Whether it is one
paragraph or 100 pages depends entirely on your objectives.

YOUR BUSINESS PLAN IS UNIQUE

Business plans vary from industry to industry and from
business to business. No two plans are alike. Your emphasis
should be on providing an accurate and realistic presentation
of your business. Your plan is about you and your business -
this makes it a unique creation.

That said, you can still benefit by studying sample business
plans - like those at Bplans.com. Notice the various formats
and styles used by the authors. Do you see categories you
should include in your plan? How did the author structure
their writing to conclude a point? Take the lead from sample
plans to capture the tone and refine your own plan.

QUESTIONS TO ASK YOURSELF

A good business plan tackles three major areas. Look at
the questions within each of the three areas below and
answer them as they apply to your business.

1. The Business

What is the legal structure of your business? Will it be a sole
proprietorship, a partnership, or a corporation? What is the
name of your business? Who are the people in your business?
How is your business uniquely positioned to succeed? What
are existing conditions within your industry? How do you intend
to grow? What is your product? What does it do? How will you
handle and deliver orders?

2. The Market

Who are your customers? Why are they customers? What
motivates your


customers? What need are you filling for these
customers? How will you motivate them to buy from you? How
will you find and attract these customers? Who is your
competition? What advantage do you have over your
competition? How will you position yourself to win market
share? Do you have technical data, surveys, or information
sources to back up your claims?

3. Finances

How much money are you bringing to your business? What
are your start-up costs? How will the money be used? When
will your business become profitable? What are your financial
projections for the next five years?

ELEMENTS OF A BUSINESS PLAN

Here are the key elements to include in your business plan.
Keep in mind that your business plan is unique to your
business, so don't be afraid to beef things up as needed.

Executive Summary - This is a summation of the important
points within your business plan. It should not be over three
pages long. This summary is of particular interest to potential
investors in your business, and allows them decide if you are
a worthy investment vehicle.

Company Summary - Describes your business, customer
focus, and your goals. Includes things such as your business
structure, start-up projections, and business location.

Products and Services - Describes what you have to offer, its
advantage to the customer, your reasoning for the need of
your product or service, and a look into your place among
the competition.

Market Analysis - Details the who, what, where, why, and
how of your market. Includes analysis of your industry and
your strengths therein.

Marketing and Sales Strategies - Key to this section is your
plan to operate in a competitive environment. Sales forecasts
and marketing details give an in-depth look at actual customer
acquisition.

Operations and Management - Fully details the structure and
operation of your organization.

Financial Plan - Provides a comprehensive look at business
cash flow, profit and loss, break-even analysis, and other
financial indicators.

In conclusion, your business is less likely to fail if you are
able to predict outcomes. Your business plan sets realistic
goals for success. The above information serves as a general
map. You fill in the details - as many as are needed. Most
assuredly, your efforts will be rewarded for years to come.


About the Author

Brett Krkosska provides 'how-to' advice on family and
home-based work issues. Get start-up guidance, business
ideas and inspiration at: http://homebiztools.com
Free ezine subscription: mailto:enews@homebiztools.com

 

Afterhours Inspirational Stories
Collection of inspirational and motivational stories, poems, parables, and jokes.
www.inspirationalstories.com
 
inspirational
mamarocks.com. Inspirational. Google · What Would You Do · An Angel For You · Angels · Amazing Grace · In The Valley · Deck Of Cards ...
www.mamarocks.com
 
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www.inspiringthots.net
 
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http://www.makepovertyhistory.org. Would you like to receive free update notices in your e-mail? Then please join the mailing list below! Beowulf Filming ...
angelinaj.net
 
Quotable quotes, famous sayings, motivational stories ...
Welcome to the Motivational and Inspirational Corner, where the winning begins. Check out the Power Performance Program © - America's System for Success.
www.motivational-inspirational-corner.com
 
INSP - The Inspiration Network
Ministry Resources. Daily Devotional · Convoy of Hope · Inspirational Mall · Stewardship And Planned Giving. Additional Resources ...
www.insp.com
 
Motivational and Inspirational Quotes
A collection of inspirational quotes on topics including success, life, leadership, teachers and more.
www.inspirational-quotes.info
 
Inspiring Quotes to move and inspire you
Quotes to move you towards fulfillment - helping yourself and helping others.
www.heartsandminds.org
 
Inspirational Messages, Poems, Stories, Humor, Cartoons, Quotes
Christian poems and Inspirational poems, stories, messages, humor, cartoons, quotes. Over 3000 Inspirational and Christian pages, new daily content, ...
www.skywriting.net
 
The page of Inspirational Poems and Stories
Your web browser is NOT capable of playing Music. Subscribe to Mr. Mom's Mailing List for updates, Inspirational poems and stories Click Here ...
mrmom.amaonline.com
 
Star Trek Inspirational Posters
BASED ON THOSE DELIGHTFUL INSPIRATIONAL POSTERS WHICH HAVE BECOME A FIXTURE OF DENTIST'S OFFICES EVERYWHERE. Terms of use: You're welcome to save these ...
echosphere.net
 
GoodQuotes.com - Funny and Inspirational Quotes
GoodQuotes.com lists thousands of funny and inspirational quotes: bumper stickers, proverbs, funny thoughts, silly quotes, Murphy's laws, gravestones, ...
www.goodquotes.com
 
Motivational Posters at AllPosters.com
Motivational Posters at AllPosters.com. Choose from over 300000 posters and prints. Professional custom framing available.
www.allposters.com
 
Inspiration Peak: Inspirational Quotes, Poetry and Short Stories
A beautiful collection of inspirational quotes, poetry and short stories. Updated weekly with a new inspirational message.
www.inspirationpeak.com
 
DaySpring Christian E-Cards
Free Christian E-Cards | Christian Gifts & Products | Inspirational Movies | Find a Store | Contact Us | Job Openings | FAQ | Site Map | ...
www.dayspring.com
 
Inspirational Fiction
Please note: The books listed here cover a wide variety of genres and types, from traditional inspirational fiction authors such as June Masters Bacher and ...
www.ci.irving.tx.us
 
Inspirational Christian Poems and Stories
Inspirational poems and stories with photos and art which seeks to help Christians in their walk of faith.
www.promiseofgod.com
 
 

 
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