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Thursday, 24 April 2008 |
By Carael Knight
Starting your own business in this day and age of the Internet has never been easier.
There are several reasons why this is true. For starters in the old days, one of the biggest challenges that faced any start up was creating a reliable distribution system for their products. Now with the web around, it is the most efficient distribution system ever known to man that reaches every corner of the world, so all one has to do is to master the techniques required to start and run their own business online.
The other major headache in starting your own business that folks used to experience was in hiring staff. Apart from the budgetary constraints, getting the right people who would be able to meet the unique challenges that come with working for a small business trying to establish itself in the market was not only difficult, it was virtually impossible. Now the personal computer and the World Wide Web have mostly eliminated the need for a large staff for anybody starting their own business. In fact we have documented cases where businesses run by he owner and with virtually no others staff are |
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Last Updated ( Thursday, 24 April 2008 )
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Wednesday, 23 April 2008 |
By Carael Knight
Before writing a business plan for a new business, consider these issues. What makes your product or service different and what needs does it fill? Who are your potential customers and what will make them purchase from you? How will you market your product or service? Where will you get the capital to start your business?
Begin with a cover sheet that includes the name, location, and telephone number of the business and the name of the person who wrote the business plan. Use a loose leaf binder to package the plan and to facilitate any revisions.
Keep it as short and crisp as possible. Include a one or two page executive summary with an overview of the most important issues in the plan. Include the business niche, marketing strategies, management strategies and finances. Organize it with a table of contents that shows logically arranged sections and appendices.
Identify your target market in the plan. This is very important. Indicate whether the market is growing, steady or shrinking. Provide extensive details about competitors, including their strengths, weaknesses, and all other estimated market shares. Include your pricing strategy and how you plan on marketing |
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Last Updated ( Wednesday, 23 April 2008 )
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