Congratulations! You are ready to join the millions of entrepreneurs who make their dreams a reality, earn excellent incomes, and enjoy the perks — and responsibilities — of being the boss.
Here’s what you should consider when you write your business plan:
1- Think about the types of services or products that you plan to offer. Consider how these services and products may change in the future.
2- Examine the market carefully to determine whether what you plan to offer is in demand, and whether trends in the market will impact your future success.
3- Analyze your potential customers, as well as your potential competitors. What are the demographics and needs of your target customers, and how will you meet their needs? Take a look at what your competitors are doing, and figure out how you will gain a competitive advantage. Think of ways of doing business better than they do, and attracting a steady stream of customers.
4- Develop a marketing plan that will help you formulate the promotional tactics and marketing channels you will use to reach your target customers.
5- Set a management team in place that is willing to accommodate your business needs on a daily basis, and whom you can trust to help you take your business to the next level.
6- Think ahead to where you want to be at the end of the year, and at the end of five years. Plan ahead, make note of your accomplishments and milestones, and learn from your mistakes.
7- Consider your projected revenues and profits over the next one to five years, and whether you will need external funding to help you grow your company.
Biz2Credit can help at all stages of the business life cycle. Call (800) 200-5678, or check us out online at www.biz2credit.com.