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::.Six Steps To a Winning Business Plan...

Most small business owners dread the business planning process, but a good business plan can spell the difference between success and failure for your company

Here are six key items your business plan must include. This article is provided by bCentral. Its website has all the information you'll need to start and run your own business.

1. Executive summary

A two-page overview of your business concept, who you are, and why you are the right person or team of people to launch this particular business. Most people will only have time to read the summary, so make it great.

2. A short description of the business opportunity

What exactly do you plan to sell or offer and why? Why start this particular business right now? What is your motivation?

3. The audience for your goods or services

Explain exactly why you think people will buy what you want to sell. How many potential customers are there? Where do they live? What are they buying now?

4. Your competition

Competition is fierce, especially with the low cost of doing business online. Very few companies will succeed and flourish. Tell folks why you think you can beat the competition and how you plan to do it.

5. Your management team

Outline your credentials and describe the people you plan to hire to work with you. A strong management team is critical to business success.

6. Your marketing strategy

If you get this off the ground, how will you market the product or service? Be as specific as possible.

If possible, try to read a business plan written by a friend or colleague. You have a lot of hard work ahead of you, but it will be well worth the effort when your company takes off.


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