Business Plan

* What is a Business Plan?
o Why prepare a business plan?
o What to avoid in your business plan

* Business Plan Format
o Vision statement
o The people
o Business profile
o Economic assessment

* Six Steps to a Great Business Plan
o Basic business concept
o Feasibility and specifics
o Focus and refine concept
o Outline the specifics of your business
o Put your plan into a compelling form
o Review sample plans

* Does Your Plan Include the Following Necessary Factors
o A sound business concept
o Understanding your market
o Healthy, growing and stable industry
o Capable management
o Able financial control
o Consistent business focus
o Mindset to anticipate change
o Plans for online business

* Formulate (and Reformulate) Your Business Plan

* Top Ten Do's and Don'ts

* Sound Byte Transcriptions

* Sample Business Plans

* Session 1 and 2 Business Plans

* Session Feedback
What Is A Business Plan?



Read Transcript The primary value of your business plan will be to create a written outline that evaluates all aspects of the economic viability of your business venture including a description and analysis of your business prospects.

Since the My Own Business, Inc. course is broken down into sixteen of the most important topics to consider in starting or operating a business, your business plan can easily be organized into this same format. Included in this session, and in each of the following sessions, there is one-page business plan template, which you can fill in and print. (Session 2 contains templates for both Sessions 1 and 2.) When you put these all together, you will have completed your personalized, overall plan.

We suggest that you fill in each section of the business plan, found at the end of each session, as you proceed through the course.

Each of the sixteen Business Plan Sections can be downloaded from our Web site and provide you with a single, attractively presented document. To begin, let's take a preview look at each of the 16 Business Plan Sections:

Click to view each of the 16 business plan sections

Keep in mind that creating a business plan is an essential step for any prudent entrepreneur to take, regardless of the size of the business. This step is too often skipped, but we have made it easy for you by providing this ready format to build your plan as you progress through this course.

Business plans can vary enormously. Libraries and bookstores have books devoted to business plan formats. This course is a starting point. You can then go on to design one that would be ideal for your particular enterprise.

Be aware now that most start-up entrepreneurs are reluctant to write down their business plan. It is, therefore, strongly recommended that you complete each segment of the plan as you progress through this course. We make it easy for you by providing sample plans for both product and service businesses and also an attractive blank form that you can download onto MS Word and customize yourself.

Your business plan will become your roadmap to chart the course of your business. But at the outset you cannot predict all of changing conditions that will surface. So after you have opened for business, it is important that you periodically review and update you plan.