Everyone needs a plan!

According to the Small Business Association, there are ten steps that need to be completed  in order to launch a successful start-up. Ten things that an entrepreneur needs to address in order to to alleviate potential problems in the first few months of establishing his/her business. Today we acknowledge the first of these ten steps; probably the most important: developing the business plan!

Of course, an idea will not last long if it is not acted on and the idea may not turn out exactly the way it was conceived unless written down and properly planned. In order for the idea to come to life it must have a name.

Here a brand and image must be designed, followed by a written objective. What will the newly developed company do? What industry is the business in and what sets the company apart from others?
After the objective is defined, the next step is to define what the target market is. There must be a problem that is solved, but whose problem is it? What is the problem? Where does it exist? This will help define the market and a good business plan may be designed around the answer.

Objectives in financing must be planned as well as a timeline for the order things get done in. Here a good idea of the projected revenue may also be included.

A business plan does not need to be any longer than 8-10 pages, and it is a good idea to update the plan as it progresses- maybe every 6 months until the life of the business begins to take shape. Every good business plan is nothing more than an outline, so it is important to be flexible at first. At least be open to changes if they become necessary.

Additional steps in planning will follow.