- Market Directly to the Consumer
- Party Plan
- Direct Mail
- Telemarketing
- Multilevel Marketing
- Television Infomercials
- Pay-Per-Call
- Internet
- Market Through the Government
- Market Through Distribution Channels
- Market Through Foreign Trade
- Market Through Specialty Channels
- Market Through Email
- Retail Stores
- Sales Promotion
- Media Outlets
- Entrepreneur Profile
- Start-Up Costs
- Operating Costs
- 20 Financing Approaches
- Choosing a Bank
- 4 Cs of Credit
- Underwriting
- Loans
- Equity Financing
- Extending Credit
- Equipment Leasing
- Venture Capital
- Angel Investors
- Personal Guarantees
- Bookkeeping and Financial Statements
- Entrepreneur Profile
- Tax Basics
- Income Taxes
- When To Pay
- Minimizing Taxes
- Home Business
- Travel and Entertainment Expenses
- Automobile Expense and Mileage
- Retirement Plans
- Medical Expenses
- Sales and Use Taxes
- Property Taxes
- W-4 and I-9
- W-2, W-3 and Form 1096
- FICA, Social Security and Medicare
- Unemployment Taxes
- Form 1099
- Payroll
- Business Tax
- Excise Tax
- Tax Tips
- Audits
- Business Insurance Agents
- Workers’ Compensation
- Property Insurance
- General Liability
- General Medical
- COBRA
- Directors and Officers
- Employment Practices Liability
- Errors and Omissions
- Product Liability
- Operations
- Business Interruption
- Disability
- Life
- Claims
- IRS Section 125
- Home-Based Business
- Entrepreneur Profile
- Nondisclosure Agreement
- Sale of Goods Agreement
- Sale of Specialty Goods Agreement
- Terms and Conditions
- Promissory Note
- Guarantee
- Corporation Articles of Incorporation
- Corporation Bylaws
- Bank Resolution
- IRC Section 83 Election
- Independent Contractor Agreement
- Employment Agreement
- Sexual Harassment Policy
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Joe Kennedy
Author of The Small Business Owner's Manual |
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Steven D. Strauss
Author of The Small Business Bible |
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Stephanie Chandler
Author of The Business Startup Checklist & Planning Guide |
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Tom Severance
Author of Business Start-Up Guide |
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Tip #6: Have a Written Business Plan.
If you try to obtain outside financing from a bank or investors, they will require a written business plan. However, even if you use your own money to start and grow the new business, prepare a written business plan for your own use.
There are many books on the subject, and there are several computer software packages that can assist you in developing a business plan. The important point is not the format you use, but that you make the decisions on paper before making them in the business. With a written business plan, you might discover an issue you didn't consider, or a potential stumbling block. You still have time to obtain additional information, alter your course, plan for the inevitable, or perhaps even terminate the business temporarily or permanently.
Your business plan is a road map for your business. It will not turn out as you planned, and you will be making constant changes, but at least you'll be in control!
The actual format and order of the plan are not critically important. However, be sure to cover the three primary activities of operations, finance, and marketing. If the plan is being viewed by outside parties, prepare a brief executive summary, highlighting the essence of your business.
Excerpted from Business Start-Up Guide © 2002, Tycoon Publishing