Chase
How do I form a good business plan?
I know nothing about making a business plan. How would I go about doing this? #business #business-development #business-planning
3 answers
Stephanie Murnen
Stephanie’s Answer
http://www.forbes.com/2010/03/18/business-plan-tips-entrepreneurs-finance-zwilling.html
https://www.entrepreneur.com/article/247574
With any business plan try to make it manageable by not creating too many steps or requirements at once; you can always start small and create a minimum viable product, prototype, or pilot of your business, and then scale it up as you acquire customers, make adjustments from early adopter feedback, and eventually acquire more capital and resources to grow the business.
Try to use SMART goals in a business plan: Specific, Measurable, Achievable/Actionable, Relevant, Time-Bound
Those type of goals will keep you on track and ensure you're working on the activities that add value to your business.
matthew adeleye
matthew’s Answer
Conceive an idea first, make research about it, evaluate it yourself and with someone close to you like your spouse. Then, determine how you will get your capital, the location (environmental scanning), your target market and resources or workforce. Then project the business in like five years, stating what you expect annually, the challenges you'll expect and also identify your key stakeholders. These are the things you need to do first.
And what am I to do if i surpass the first five years?
Chase
The business will shape it'self by then, expansion is inevitable if the business still remains after five years. The business will reveal what you need to do to you...Getting started is the main part.
matthew adeleye
Donald Knapik
Donald’s Answer
Good afternoon,
Simply stated, your business plan is what your business goals are and how you intend to achieve them. Depending on what you're attempting to do.....especially when trying to get funding.....it is the map you intend to follow to get the business result you desire that will give confidence to those who may be your potential backers and supporters. Moreover, it should give you a very clear picture of what you intend to do; Detailed enough to give confidence that you have a real vision and have a real understanding of how you can get there. You might start by listing the who, what when, where, why you want to start your business. Then do an assessment of where you are now. There will most likely be a significant "gap" you'll have to fill in with skills, resources and/or assets you may not presently posses.....the plan is really how to get from now to then,what you need, a timetable and hopefully a budget.
Good Luck,
Don Knapik