Without One, Your Business Can’t Go Anywhere!Small businesses are usually born of a “great idea”. An aspiring entrepreneur is sitting at home on the couch, watching television, and all of a sudden, inspiration strikes! He has the perfect idea for a new business, and he wants to get started right away. Humans are creatures who
worship at the altar of instant gratification; we are motivated from the get-go and want things to start happening immediately.The important thing is to not let your motivation run ahead of you. Starting a new business can be exciting, but whether you are a brand new rookie or a seasoned veteran, planning and organization must come first. You will get your first customer, you can design the perfect brochure, and your website will come to fruition. But first, select a three-ring notebook and begin to create your business plan.I recommend a three-ring binder for this task, inside which you will place six multi-colored dividers. You can type your plan and insert it into the binder upon completion with a three-hole punch, or you can write it longhand. This doesn’t matter because you and your business partner (if you have one) will be the only ones who will see it.Next, label the dividers:1. Vision2. Capital3. Marketing & Advertising4. Production5. Products and/or Services6. StaffingVisionThis is the creative section of you business plan. In it, you should clearly define your vision and goals for your business, both long and short term. It should contain your mission statement, your projected income, your basic venue, and your ideas for seeing your goals through. Make sure to set realistic goals that you are motivated to meet, and establish dates for when you hope to achieve them. This section should be a positive reference for you when you are steam-rolling down the business turnpike, and should reflect realistic capabilities.Capital
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