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By Bryan Thorby
Writing a Business Plan.
You're ready to get your home business started in every way
except one. You need money. Either in the form of a loan or
from investors, but where do you start? One thing you will
need before you can get capital for your business is a business
plan.
What is a Business Plan?
A business plan is simply a list of answers to questions that
people might have about your home business. You will not get
outside funding without one, because the people giving you the
funding want to know that you have thought your venture
through completely and that your income forecasts are realistic.
Working through the process of writing your business plan is
an opportunity to be objective about your vision.
A business plan says:
I've considered this from every angle, and I am ready to get
going.
Your business plan needs to include:
- a description of your business. Just what is it that you plan
to do? Which industry are you going to be in, and why you've
chosen it.
- Who are your customers? Once you know what your business will
do, the next thing you need to know is your target market.
- What makes your business different? You need to explain what
makes your business different from other businesses in your
market. How do you plan to make the business succeed?
- List your expenses. Include start up expenses and any
equipment that you need before you can get up and running.
Also include your daily expenses such as staff costs and
supplies.
This has been a brief overview. If you need more help with
your business plan do a quick search on the Internet. There
are plenty of resources available to help you develop your
business plan.
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