Home
>
Small Business
>
The Inside-Out Business Plan? -- Your Small Business Plan in 10 Easy Questions

The Inside-Out Business Plan? -- Your Small Business Plan in 10 Easy Questions

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!

_________

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. *****

Wood Dale Chicago prom limo .. Lockport Chicago limo O’Hare

In The News:

Fueled by artificial intelligence, CyberDog the robotic dog is designed specifically locate fire ant nests, which are endangering ecosystems.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents

Internet browsers are useful, but they can be dangerous. Clicking on malicious links can direct you to dangerous websites that steal information or infect your device.

Apple's latest iOS update introduces advanced artificial intelligence capabilities, which may be capturing and analyzing sensitive information.

Breach site confirmed 56,904,909 Hot Topic users' data leaked online. Tech expert Kurt “CyberGuy" Knutsson says the company's silence makes matters even worse.

Tech expert Kurt “CyberGuy" Knutsson discusses how an innovative Easy-Way kit turns standard strollers electric, simplifying navigation for parents.

Tech expert Kurt “CyberGuy" Knutsson talks about T-Mobile being hacked in broad cyberattack on global phone and internet companies.

Tech expert Kurt “CyberGuy" Knutsson shows you how to add, customize and manage widgets for quick access to apps and info from your iPhone home screen.

Wrong Google searches can not only compromise your device and personal data. They can also bring law enforcement to your doorstep. Hackers are targeting Google searches.

China's Shanghai Kepler Robotics has developed a new humanoid robot that can carry up to 35 pounds per hand for commercial applications across various industries

Checking your hearing has gotten easier with the new hearing test feature in AirPods Pro 2. You can take reliable hearing tests using your iPhone or iPad.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Kurt "CyberGuy" Knutsson explains how a VPN — virtual private network — works and how running it can slow down the operation of your device.

The WalkON Suit F1, an exoskeleton developed to help people with disabilities, can actually walk over to a person in a wheelchair, solving a major problem.

ClickFix, a new scam targeting computer users, is on the rise in the U.S. The scam prompts its targets to click on a link to fix a problem.

Skydweller is the world's largest unmanned solar-powered aircraft that can stay airborne for weeks, and even months, without refueling.

The U.S. government said it is investigating after People's Republic of China hackers targeted commercial telecommunications service providers in the U.S.

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Scammers are using increasingly sophisticated ways to lure unsuspecting victims, and some are impersonating an email help desk or support team.

You can unsend or edit your iMessages with the latest iOS updates. Kurt the CyberGuy explains how you can save yourself some potential embarrassment.

Kurt “CyberGuy" Knutsson says there’s been a rise in cybercriminal services using hacked police and government emails to send subpoenas and data requests to U.S. companies.

Kurt “CyberGuy" Knutsson discusses how Axiom Space and luxury designer Prada are collaborating on NASA's Artemis III spacesuit design.

Voice assistants may cause confusion across devices. Tech expert Kurt “CyberGuy" Knutsson offers some solutions to fix it.

Shameless scammers trick veterans into giving personal info or cash. Tech expert Kurt “CyberGuy" Knutsson explores five common scams.