Many people think that the only reason to develop a business plan is to convince potential lenders or investors to provide financial backing. This view is a little short-sighted, however. A ... |
Everyone who opens his or her own business has a plan, however informal. The camera store clerk who decides to open a photographic studio may not have a formal, written plan outlining the steps to be ... |
When you come up with an idea for your business, how do you go about assessing whether it is a good idea? How do you convince yourself (and others) that you can make money exploiting the idea? A ... |
Just as a person seeking a job prepares a resume that outlines qualifications, experience, and other relevant information, a business will have a variety of uses for a "resume" of its own. The ... |
A business plan helps you manage vital business activities better. It identifies the essential events that must occur and actions that must be taken, and it sets forth a clear timetable for ... |
When you go into business for yourself, you have to strike a balance between the risks that you assume and the return you expect to receive if you succeed. Obviously, no one likes to take big risks ... |
Once you've created a workable business plan, it can serve you well as the tool of choice for tracking your business's progress. |
Sometimes, no matter how well you try to plan, things just don't work out the way you expected. In some cases, there was something wrong with the assumptions or projections that were made when you ... |
Preparing for the future is what a business plan is all about. So why is it listed here as a separate reason for having a business plan? Simply because a business plan positions you to ... |
When does it make sense to create a business plan? Few people wake up in the morning and say, "Gee, seems like a nice day to write a business plan." Taking on a project of this size isn't done ... |
