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Saturday, 19 April 2008 |
By Carael Knight
Before writing a business plan for a new business, consider these issues. What makes your product or service different and what needs does it fill? Who are your potential customers and what will make them purchase from you? How will you market your product or service? Where will you get the capital to start your business?
Begin with a cover sheet that includes the name, location, and telephone number of the business and the name of the person who wrote the business plan. Use a loose leaf binder to package the plan and to facilitate any revisions.
Keep it as short and crisp as possible. Include a one or two page executive summary with an overview of the most important issues in the plan. Include the business niche, marketing strategies, management strategies and finances. Organize it with a table of contents that shows logically arranged sections and appendices.
Identify your target market in the plan. This is very important. Indicate whether the market is growing, steady or shrinking. Provide extensive details about competitors, including their strengths, weaknesses, and all other estimated market shares. Include your pricing strategy and how you plan on marketing |
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Last Updated ( Saturday, 19 April 2008 )
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Friday, 18 April 2008 |
By Stephanie Foster
Lots of people fail in their home businesses. Failure is easier than success, after all, even though it hurts more. There are plenty of things you can do that will easily increase your odds of failure.
1. Talk, but don't act.
Go ahead. Tell everyone that you're going to start a home business. Maybe even buy a business kit or ebook that tells you all about what you need to do in order to get started. But actually start? No.
2. Work as little as possible on your business.
Lots of people get started, but then do very, very little work on their business. There's always something else going on, whether it's family life, a regular job or a hobby.
Know what? An hour a week isn't going to get you very far in business. If you want to get to the point where your business practically runs itself, you're going to have to work hard to reach that point. It takes time, often years, to have so much as a shot at putting your business on anything resembling autopilot.
3. Opportunity-hop.
Now, there are times when you should |
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Last Updated ( Friday, 18 April 2008 )
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