Start A Business Plan

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The concept, brand following and business model are already in place; all you need is a good location and the means to fund your operation.

When your why is focused on meeting a need in the marketplace, the scope of your business will always be larger than a business that is designed to serve a personal need." Another option is to open a franchise of an established company.

There's no one guaranteed formula for writing an effective business plan.

However, in general you have to show that you're committed to your venture and that you have the expertise, skills and necessary to make it all happen. Include a description of exactly what you're proposing.

Rather than spinning your wheels and guessing at where to start, follow this 10-step checklist to transform your business from a lightbulb above your head to a real entity. Generating some of idea of how you'll eventually exit the business forces you to look to the future.

Or enjoy creating art to bring color to their world?Potential investors will also want to see the expected return and sources of funding, while shareholders are looking for the prospect of the share price and what dividend they can expect on their shares.Generally, lenders, shareholders and investors want facts and figures that back up what you say. Keep in mind that you should have a lawyer look over all contracts and legal issues.How will your company or product/service make a difference in the lives of your customers?Make sure you show your lender that you've done your homework.You should include information on how you plan to recruit and maintain your employees or handle outsourced work.Do an assessment of the company's needs with regard to premises and capital goods (such as machinery, technological equipment).If your business is all in your head, it's hard to convince lenders, investors and shareholders that you have a credible company and that you'll use their funding well.And that's precisely where a business plan comes in.Your business plan outlines what your business does and what you are trying to achieve.It explains what the market opportunity is, what makes your business special and how you will make it a success.

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