Starting your own business will change your thinking and your life forever! Whether you plan on opening a gift shop, pizzeria, cleaning service or a high tech shop, you should take specific actions before you start selling your products or promoting your services.
I have discovered in my entrepreneur training sessions that successful entrepreneurs are not ordinary people, but extraordinary individuals who use unique qualities and skills to create a profitable business venture. Winning entrepreneurs follow the basics rules for developing their Business Plan that becomes their “road map” to success.
You may be thinking, why should I take the time to create my Business Plan? When others read your plan it gives them a profile of your anticipated business and lends credibility on whether or not your venture will be successful. The Business Plan you create becomes your business profile and gives you an official document to give to anyone who may need to know more about your operation.
The Business Plan is your communication tool when you go to the financial institution for start-up or expansion funds because the loan officer expects to see a fully developed plan. It must show that you are a strong and focused business leader and manager. While developing your plan, it gives you practice in thinking about competitive conditions, opportunities, threats, your ongoing cash flow status and situations that can make you a “Giant” in the business world of tomorrow.
There are resources online, in libraries, business workshops and seminars that can get you started with your business planning, but you can also follow my article posts and read my books to discover ideas and hints for starting your own business.
Dr. Patricia Laino
Dr. Patricia Laino earned a Baccalaureate in Science and a Master of Science from SUNY Institute of Technology in Utica, New York. She was awarded a Certificate of Advanced Study from SUNY Cortland, New York and earned a Doctorate in Business Organization, Administration, Research and Policy from Buffalo State University of New York. She has been a presenter of “How To Win At Writing Grants” at numerous colleges.