How to Start a Business plan
This simple Questionnaire will assist in answering many of the most important questions
in starting a small business. We highly recommend that considerable time be spent
pondering these questions before starting any undertakings or purchasing anything.
WE feel writing down the answer to these questions and saving them will be helpful. If
you can't answer these questions then it may be best that you DO NOT START a
business until you are able to.
Take the Business Assessment questionnaire now! Takes 5 minutes
This may be the most important 5 minutes of your business
Before you begin consider four core questions: (write down your answers)
1. What service or product does your business provide and what needs does it fill?
2. Who are the potential customers for your product or service and why will they
purchase it from you?
3. How will you reach your potential customers?
4. Where will you get the financial resources to start your business?
What goes in a basic Business plan?
1. Description of the business (question one) Including risk
2. Marketing (question two / three) A survey is a great way to research your market
3. Finances (question four) Be sure and outline the risk along with the positives.
4. Management
Basic Elements of a simple Business Plan
1. Cover sheet
2. Statement of purpose of the business: What would a customer want from your
business ?
3. Table of contents
Describe your business
How will you Market it ? Develop a profile of your customer
Who is your Competition? Spy on your competition
Operating procedures
What Personnel is required ? (manager and employees)
Is Business insurance required ? (probably yes, where will you get it and what
will it cost)
Financial Data : If you need 30,000 dollars to start don,t start with less hoping to make
due it greatly reduces the chances of success.
Will you need a loan?
Expected Revenue what will it take and when do you expect to be profitable.
Costs of goods to purchase
Selling expenses (advertising)
General expenses ( salaries, supplies, rent)
Break even analysis
Income projections (profit & loss statements)
Assumptions upon which projections were based (very important)
Supporting Documents may be needed such as:
Tax returns of principals for last three years Personal financial
statement (all banks have these forms)
For franchised businesses, a copy of franchise contract and all
supporting documents provided by the franchiser
Copy of proposed lease or purchase agreement for building space
Copy of licenses and other legal documents
Copy of resumes of all principals
Copies of letters of intent from suppliers, etc.
This is one of the survey response we received on:2007-06-02 06:56:20
Solid information to help newcomers to the business, using a very simple format. No filler, no fluffs, no B.S. No sales hype or scams. No profiteering off those new or ignorant to how this biz works. Most important your website is a school, course, and webstie all-in-one.
