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Steps To Write A Business Plan

By Gloria J. Little

When you have the following all taken care of, your business plan will be much easier to write. People struggle unnecessarily with a business plan because they don't have all of these components covered or has not even considered they.

1 . Mission Statement (What is it you want to accomplish?) Yes. all businesses need one.

. What is your experience in the business you are starting? (Write it down)

. What is the location of your business? (Is it on the web? (Then say so)

. What is your product or service? (Don't overwhelm yourself with too many products)

. How much will you charge for your products or services? (Check the competition)

.What is your market? (Who will be purchasing this product or service? Do your homework)

. How will you advertise or market your product or service? (Do you know the
difference between advertising and marketing?)

. What supplies will you need and where will you get these supplies from?

. What have you calculated to be your startup costs?

. What have you accomplished to date?

. What is your merchandise policy? (Is there a money back guarantee?)

. What will space cost? (On the web or in reality)

. Who are your competitors? (Have you studied them? If not, how can you compete?)

. Who is your management? (Who is responsible for everything being organized?)

. Will there be security? (Even on the web it's necessary)

. What is your merchandise return policy?

. What is your plan of action? (What will you do next?)

. What equipment and office supplies will you need?

. What are you cash budget forecast?

. Will you need a loan?

. Exact use of the monies borrowed.

. Repayment schedule of monies borrowed. (Make it realistic)

. Taxes/Licenses if necessary.

. Investors. (Do you have any?)

. Statement of financial need. (For the benefit of the investors)

. What are your references? (List them)

. Prepaid expenses, what are they?

. Cash reserve (Emergency money for emergencies only, not a shopping spree)

. Application for funds. (Where will you get the money from?)

. Sources of funds.

. Deposits

32 . Funds statement.

. Administrative expenses. (Always pay yourself last.)

. It's always good to have insurance.

Article © Dot Com Women. Visit Dot Com Women for articles and tips on every aspect of a woman's life. Beauty, Fashion, Crafts, Decorating, Business, Finance, Parenting, Weddings, Travel, Organizing, Cooking, Entertaining, Message Forums and much more.

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