You’ve got a dream of owning and operating your own small business.
So you’ve got an idea for a small business that you think will “work.”
Great new business ventures – new products, new services, new companies– begin with an idea and a dream. But it is a process to get your small business from the “idea” and “dream” phase, to the “it’s actually happening” phase.The writing of a business plan that is both concise, and thorough, will help guide you through this process and will help you attract the right kinds of prospective partners.Yes, I’m saying “partners,” because businesses generally don’t operate in a vacuum all by themselves. Even if you yourself are “the business,” and even if you don’t need any investment capital to operate, you still need to be very clear about the products or services that you’ll be offering, and you’ll need to be able to clearly define your prospective customers.For this reason, the writing of a business plan is as much an exercise that is for our own benefit, as business owners, as it is a benefit for anybody else who might read the plan.As you work through the process of writing your business plan, no doubt you’ll think of potential challenges or obstacles to your small business that you hadn’t thought of before. You’ll probably also think of potential opportunities, and “advantages” to operating your small business, that you hadn’t thought of before, as well.This is all very normal. It’s another reason why the process of writing the plan is highly beneficial to each of us business owners. [Read more…]