Why Make a Business Plan - Part 2 : Top 9 steps to stand-up

The best way to startup a small business is to write a business plan. When you write a business plan you will be forced to consider many start-up issues. 

The more you know about the startup business issues the better you perform and the richer you will get. On this web site you find all the startup information you need to write your own fantastic business plan. And yes, You can do it, it is not that difficult. 

The start-up business plan issues are gathered under the following nine headlines: 

 1. Business Concept A good idea

It is only a good business idea if you are able to make enough money from it for you to live independently. Once you have got an idea, in most cases it needs adjusting and further development before it turns into a commercial concept.

 2. Personal Resources and Objectives Running a newly established company 

It is a very personal thing as its owner is typically the only one present in the company. Therefore, it is important to emphasise to yourself and others alike that you do possess the capacity and resources necessary to run a business.

 3. Product/Service The product or service you offer:

It is the lifeblood of your business. Thus, it is important to analyse its various aspects. Special attention should be paid to what the customers demand from the product or service.

 4. Market Description 

 Before you are able to carry out any sort of sales or marketing action: you need toidentify the market
 you want to penetrate. A good marketing result requires thorough market and customer insight.

 5. Sales and Marketing:

Sales and marketing are your tools to approach potential customers in order to raise an interest in your product or service. 

Whether to run local newspaper advertisements, direct mails, work out an internet solution, or attend international trade fairs, is entirely dependent on what you sell and what customer profile you want to approach. 

6. Practical Organising of your Business 

You need to describe the every-day running of your company and also take into account the cost of arranging and running your business. 

7. Business Development 

It is hard to think 3-4 years ahead even before your business is up and running. It would, however, be an advantage if you, at this early stage, can envision the outlines of an even bigger and more interesting company than the one you start out with. 

 8. Budgets Budgets

Budgets Budgets are the above topics described in economic terms. The more specific the plans, the   easier it becomes to work out budgets. 

Budgets will also contribute to the concretizing of the plans and it is ok to go back and change plans if the budgets prove them unrealistic. 


 9. Financing Financing merely asks: 

“How do I raise the funds that I need to start my own business?” 

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