When starting out it’s difficult to know what are the next steps you should be taking in order to launch your business. Below are a couple of links to help you on your way. One is the business start up check list and the other will direct you business plan templates.
At any time you can consult with PIE for free and they can help you on your way.
Business Start Up Check List
Click the link below for free access to business plan templates, financial planning, market evaluation and so much more.
Why have a business plan?
A business plan has many functions for an entrepreneur. Most importantly it is the tool you will use to test the feasibility of your business, this will save you time and money in the future. Building a business plan allows you to examine the market, the competition and the costs associated with starting up and running your business. While building your plan you may discover some of the costs associated with running a business that you were not previously aware of. Examining your competition and the market beforehand will help you to forecast cash flow for the future and determine the success of the business.
If you are looking to receive funding, support or to form partnerships your business plan to act as an informational tool selling your idea or concept to others. When creating your plan you want to make sure you are clear and concise, you may be pitching your plan to someone who is outside your field and will not have any expertise in the business you are looking to start. The biggest problem most business plans have is that they don’t include a clear description of the market, competition, and customers. While it is important to be descriptive of your product or idea you need to be able to sell it and a strong SWOT will help distinguish your product or idea from the rest.
A well-constructed business plan will act as a blueprint to help you, the entrepreneur, as you start to run your business. Having a plan in place that you can refer to will help to keep you on track with your vision. Keep in mind that a business plan can and should change as the business develops. Adjustments in financials and marketing plans will be updated as the business progresses and new resources become available. Measuring actual performance against expected performance will help you to forecast more accurately for the future.
Please visit PIE on campus for help with any stage of your business planning, we are here to help you achieve success.