Saturday, December 26, 2009

small business plan

Starting a small business can be a challenging process, but a well written business plan for your small business can make the process simple. If you can write an effectively small business plan, you can achieve the financial enablement you need.
Below are the Six effective steps you need to start a small business:

Step 1

Start with an executive summary. Your executive summary should include brief information about your small business, the services your small business renders, the competition that your small business will confront, financial considerations, goals of your small business and any other pertinent information. You will go into more detail on all of these elements later in the business plan.

Step 2

outline the goals, mission and how you will meet the goals of your small business. This should include what you want to see your business become as the day goes by and over time. Your keys to success should explain how you will accomplish your goals and how this is unique to your small business.

Step 3

Define the start of your business. Include information about the people running the business and their qualifications and experience. Evaluate the capital and how much money you will need to start your small business.

Step 4

Describe the services and products your small business will offer. Include certain details on the services and how your offering of the services is unique to your small business.

Step 5

display the market of your small business and how your business will target that specific market. Make use of demographic information and buying habits of the area where you are planning to base your small business. Display the results of the market surveys or focus groups in this section.

Step 6

Demonstrate your plan in achieving your goals via marketing to your consumer base. Show how you have a leg up on your competitors, plan to advertise your small business and those things put in place to enhance your sales . Also add a milestone section that gives specific targets that you plan to accomplish and the dates on which they will be accomplished. An example of a milestone is the first day you are open for business.

I hope these Six steps will go a long way helping you in your small business plan.

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