The main reason that some people take opportunities when they arise, and others do not, is that some people are ready.
They have their business plan ready and all they need to do is take advantage of the opportunities.
Where can you find the right business plan?
If your business is based in the United States - click here
If your business is based in the U.K. - click here
Ideas To Action.
Using Your business plan
Not every entrepreneur who starts a business writes a business plan, but every entrepreneur should. A business plan does not guarantee the success of your business, but it does increase the odds of success if you properly use the plan as a comprehensive strategic tool. From your first draft to your next presentation, your business plan should help generate ideas, plan strategies, direct your business and achieve tactical advantages within the markets you serve.
Evaluate and develop your business idea as you write your business plan. Acknowledge the weaknesses in your business idea. Writing your business plan will expose areas you’ll need to plan for and problems you didn’t anticipate. Understand that a business plan is part of the business preparation process. Avoid pitfalls and impediments to your business by using the business planning process to discern them in advance.
Employ your business plan to sell your business idea to potential investors. Include in your business plan all the marketing, financial, background, and strategic information an investor would need to become as excited about your business venture as you are. Show investors how your business will provide value to customers, reap profits and provide returns on their investment through the strategies in your plan.
Utilize your completed and polished business plan as an organizational tool to direct the ongoing efforts of your business. Revisit the strategic portions of your plan when deciding how to address competitive elements in your market. Look for areas of advantage in your business plan that you may not have developed fully. Continue to add to and update the portions of your plan that relate to competitive strategy, so your plan remains relevant to current and developing market conditions.
Use your business plan as an internal and external marketing tool to motivate growth. Make your business plan available to all levels of management so they are aware of the direction of the firm and what role they are expected to play in the development of the business. Present your business plan to vendors and suppliers to solidify business relationships. Offering insight into how your company intends to grow and do business over the next five, 10 or 20 years can instill confidence in a potential vendor; and possibly secure additional discounts.
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A great business did not just happen - It was planned that way.