Business Planning 101
A Business Plan is a set of strategic decisions that guide a company. It organizes and documents the goals for management and operations of a business. Most importantly, it is a plan which is used to measure success – whether sales, customers or net profit.
One great place to begin researching an idea is at the Palo Alto Software.
When I first looked at this website, I was amazed. Over 500 business plan templates right at your fingertips. Which one did I want to look at first?! They are categorized into 25 areas, from aviation to wholesaling.
No matter which industry, they all have the basic 10 components:
1. Cover Page
2. Table of Contents
3. Executive Summary
4. Company Summary
5. Market Analysis
6. Product or Service Description
7. Marketing and Sales Plans
8. Operations and Management Plans
9. Financial Plans
10. Appendix
The next step is up to you. Read few some of the sample plans on the the Palo Alto Software website. Make some preliminary notes for the ideas you are considering.
Do a little research into the market and industry. Do you have the interests and background that match the characteristics of the company? Start brainstorming a list of opportunities.
Here are some posts I’ve written on the subject. Let me know if you would like The Profit Specialist to review your notes. Kay Peck
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