Budding entrepreneurs? Where should you start?
So you have a great idea for a business venture? Ask yourself the following questions:
- Do you have a great idea for products or services?
- Have you been thinking about this for a long time?
- Do your close friends and family think it is a great idea?
- Have you chosen a catchy company name and does it accurately describe your business?
- Can you identify the benefits of your products or services?
If you answered “yes” to these questions, the next action is to write a business plan. Here’s a step-by-step method for writing a solid business plan, but beware—don’t think you can write it in a few hours. Plan for 40 hours–that is, 20 evenings at two hours each.
Spend the first evening reading samples of real business plans here and look at business plans most similar to your business concept.
Next, go here and leave no link unread. After you’ve read everything on the page, it’s time to get started on your own business plan here. Your business plan will contain eight required sections:
- Executive Summary
- Company Description
- Market Analysis
- Organization and Management
- Service or Product Line
- Marketing and Sales
- Funding Request
- Finance Projections
- Appendix (Optional)
Still not sure how to start? The Small Business Administration offers a template for a business plan here. Writing a business plan is not a quick process, but for serious entrepreneurs, it’s the way to go.
At Community Care College in Tulsa, OK, our Associate of Occupational Science in Business Administration degree offers students education and hands-on learning to help them define and refine their entrepreneurial goals. Our 80-week degree is offered entirely online or a blend of online and on-ground classes.