Writing Your Business Plan and Developing Your Online Presence

For start up small business owners, it is critical to understand how to effectively write a business plan. If you are wishing to start a business, your first move should be to construct your plan on action.

Homework has taken on new meaning for millions of Americans and businesses worldwide. The drive for economic self-sufficiency has been a motivating factor for massive numbers of entrepreneurs to market their skills and talents for profit. Our increasingly service-oriented economy offers a widening spectrum of opportunities for internet and other home-based and personalized business growth.

Though untrained entrepreneurs who did not do their homework nor plan ahead effectively have traditionally had a high rate of failure, well-thought out small businesses can be profitable. There are many resources on the internet to help the small business owner get off the ground, even if they themselves have never developed a business plan.

The first item on your agenda is to take stock of your interests, aptitudes, and skills. Many people worldwide have good business ideas, but lack what it takes to succeed. If you are convinced that a small business is attainable based on your skills and interests, follow these step-by-step set of instructions on how to develop a business plan.

While the reason for the rapid growth of small business operations may vary from the need to supplement one's income all the way to a sophisticated well-oiled technical full-time consulting services billing clients hundreds to thousands of dollars per month, there are many common traits and significant challenges to be considered in launching most online or other home-based businesses, regardless of size of your company.

Careful planning and special attention needs to be given to researching legal and taxation issues, proper space utilization, establishing time management discipline, having the equipment and hardware on hand, and most of all, self assurance. Poor planning or careless attention to the development of highly detailed business plan can be costly for you in terms of lost time, wasted talent and lost wages.

First thing to do is to select a business. Perhaps you have already determined what your business will be. You may already know how you will serve your market and with what. Establish your niche. Determine what makes you different from the rest?

Your business plan needs to also include hiring of employees and management, financial and budget analysis, and one that is often overlooked is outside sources of assistance.
The U.S. Small Business Administrative Office of Business Development programs are diversified and very extensive. They include free individualized counseling, conferences, online courses, workshops, problem clinics, and an extensive library of publications. So, check also into local resources within your community for aid in launching your own business and include those in your business plan.

If you are not sure what your business should consist of, list potential areas of special training, educational and job experience, background and special interests that could be developed into your business plan. Some ideas may include areas in the category of personal services such as house cleaning and maid services, tutoring, catering, direct mail, child care, and any other service. Perhaps you are an artsy-crafty type and you want to start a business in the category of handicrafts to include needle work, ceramics, jewelry design, or upholstery. If that is your trade, you should plan to have a website and sell your crafts through an online payment system. You will need to draw customers to your website.

Reference:  Stephanie_A_Hill