Writing a business plan for your Solo Entrepreneur business doesn't have to be a daunting project. If you can answer 10 straightforward questions about your business, you can be ready to go.
The key to success is to answer all of the questions in enough depth that if a friend asked you to invest in this business, you'd say yes. Most importantly, make sure you record your business plan somehow...whether you write it by hand, type it into your computer, or put it on stickie notes on your wall. Keep it someplace handy where you can refer to it when you are making important business decisions. And, make sure you review it monthly--or, even better, weekly--and update it at least annually.
1. Your Dreams: What do you want your business to provide for you? (think time, money, freedom, who you work with) Be specific--how much money, how many hours, when do you want to "retire".
2. Customers: Who are your customers and what do they want/need?
3. Products and Services: What products/services will you provide to meet customer's needs?
4. Markets: Where are your customers and what do you know about them as a group? "Where" might be geographic, it might be what kind of places they hang out, or where they go to find products or services like yours. What is their age, income, gender, hobbies, family structure, etc.
5. Your Style: How will you reach customers and what will you say? Your methods of reaching customers needs to match with where your customers are--and with a message that they can relate to.
6. Competitors: Where else are your customers likely to get this need met? Find out all you can about how your competitors price, market, and provide service.
7. Your Uniqueness: How will your product/service meet customer's needs differently than your competitors? Consider how your personal uniqueness impacts that.
8. Your Abilities: Of the skills necessary to run your business, what do you do well, and what do you need help with?
9. External Resources: What people/technology/services will support you in the skills you need help with?
10. Fulfilling your Dreams: How will your business provide the kind of working environment you desire, both in how much time you spend, how you perform your work, and how much money you make? Here's where the rubber meets the road--make sure you can show how you will sell X amount of product or service at Y price, cover your expenses, and reach the goals you set in 1. above.
Once you can answer all these questions, have it reviewed by some trusted, experienced professionals who will give you objective feedback. Consider a business coach, as one such resource!
Copyright 2004, Terri Zwierzynski - Accel Innovation, Inc.
_________
Terri Zwierzynski is a coach to small business owners and Solo Entrepreneurs. She is also the CEI (Conductor of Extraordinary Ideas) at Solo-E.com and the author of 136 Ways To Market Your Small Business. Terri is an MBA honors graduate from UNC-Chapel Hill. Terri has been coaching for over 10 years in a variety of settings, including 6 years as a senior-level coach and consultant for a Fortune 500 company. She opened her private coaching practice in 2001. You can reach Terri at http://www.terriz.com.
_________
***** Find more articles like this at http://www.terriz.com. ? Keeping Solo Entrepreneurs Juiced in Business and in Life. Our team of Solo Entrepreneurs are comprised of small business experts who support others in finding business success with the flexibility and freedom to have a life, too. Network with other freelancers, self-employed and Solo Entrepreneurs in our forums, enjoy our articles and newsletter, and find other online training opportunities. *****
executive chauffeured services Bradford .. Madison to Airport carYou know what makes me really happy? Drinking a Starbucks... Read More
Which questions do you need to ask to even get... Read More
Until the day I learned to play chess I loved... Read More
Pardon my enthusiasm, but a large part of your small... Read More
The following are six essential skills to business success. You... Read More
Don't let your customer satisfaction research initiative collect dust on... Read More
Your business is making profits, but where is the cash?... Read More
Being a small or home-based business owner can be loads... Read More
As a practise gets larger & larger the associated problems... Read More
Whether your target audience is in your neighborhood or across... Read More
Part of the power plan is making sure you have... Read More
Maximum efficiency in the cleaning industry is a key to... Read More
North County San Diego has had some significant growth, and... Read More
Starting a business? For many people, the bravery to venture... Read More
Ask anyone trapped in a cubical about their entrepreneurial dream... Read More
Small businesses need Public Relations, possibly more than large corporations,... Read More
A Small Business Opportunities Magazine is one of the new... Read More
Last year, trillions of dollars transferred hands on the internet... Read More
Business checks are available in many styles and varieties. They... Read More
I am simply amazed at the problems some of my... Read More
Thinking of starting a business on line? If so there... Read More
The home-based business market, sometimes called the SOHO (small-office/home-office) market,... Read More
"The way to develop self-confidence is to do the thing... Read More
Every business plan book tells you how the Executive Summary... Read More
Mobile carwashing is hard work, it is tough on the... Read More
O'Hare Chicago prom limo ..We very much like what we see in Lubbock, TX... Read More
When small businesses fail, the wreckage is often assigned to... Read More
Have you ever wondered what the difference is between a... Read More
What is a Family Business? A family business is basically... Read More
Perhaps you are building a new home office or you... Read More
The FTC Franchise Rule maybe changed, as the Federal trade... Read More
Writing a business plan for a mobile car wash is... Read More
So what exactly is a "Small Business Lone Ranger?" A... Read More
Q: I will be retiring this year at age 60... Read More
Whether you operate a chain of restaurants, a mom-and-pop convenience... Read More
How far away is the person you need to meet?We... Read More
If you're just ramping up your small business email newsletter,... Read More
How do you make sure you have the business solutions... Read More
If you are a non-operator owner of many work trucks,... Read More
A cherished business doctrine is that growth must be a... Read More
Why would you use an event pass?Event passes are often... Read More
Here are seven ways for owners of small businesses to... Read More
Recently one of my customers told me the chaos swirling... Read More
First you have to start with knowing your budget and... Read More
Are you -- like 70 percent of small business owners... Read More
We love Wichita because it has great all round weather... Read More
You bet it's worth it. Publicity via news releases, along... Read More
Starting the blind cleaning business is one of the best... Read More
Whether you are an Entrepreneur or Business Professional there are... Read More
One of the most common issues that comes up for... Read More
Small Business |