How to Write a Business Plan That Guides Your Success!
By Tammy Ames
Writing a business plan isn't optional just because you consider this simply a home
business. You are a small business owner. A written business plan is required to secure
finances or investors in your new home business. Starting a home business with your own
funds and ideas doesn't mean you don't need a business plan.
A written business plan is critical to every home business. The thought process and
research involved in writing your business plan will reveal the blue print for your home business.
There are numerous paid and free business plan products that you can use to develop
your own home business plan. Unless you are seeking investors in your small business, you
can learn how to write a business plan that keeps your business working toward your goals.
To have a well written small business plan, you will find your goals easier to reach and
keep track of your progress both with building your customer base and sales.
Starting a home business without a writing a well thought out business plan is like
building a house without a blue print to guide you every step of the way. Your home
business foundation built on these nine areas will give your business a strong identity
and focused sense of direction to help you plan and manage your business effectively.
1 Business Summary
Write out a description of your business. What kind of company do you want to build? A
well written description or summary of your business often propels you through each step
of how to write a business plan. Writing the summary first means you will always have the
basic premise of your home business idea at the top of everything you put in your business plan.
2 Name Your Business
You may think that your direct sales business already has a company name but that is
not the name of YOUR business. Creating a distinct name for your business will help make
your plan. Does your business name reflect what you offer? Is it easy to remember? Does it
have strong branding potential? Should you reconsider your current business name if it not
working with your product? Make sure the name of your business fits not only your product
or services but your mission statement.
3 Itemize Your Products or Services
Write out descriptions of your products; how do they look, smell, taste, feel or how
your services will help others reach their own goals in life. How will your offerings
improve the lives of others? Sort through why others aren't already doing it and if they
are offering exactly what you are going to offer then what prevents the competition from
doing it better or more cheaply than you are.
4 Mission Statement
Your mission statement is a concise clear summary of the goals of your business. In
your mission statement, you will define exactly what your business does, the products or
services offered and what makes your business unique above the competition. Writing the
bottom line of your business goals into your mission statement will guide the rest of your
business plan.
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