An Empire Isn’t Built In a Day.

An Empire Isn’t Built In a Day. It’s built EVERY day.

As an entrepreneur, you have to create a mind-set of unequivocal dedication to your business. You will spend long hours, forgo family and social life, forget to take your vitamins and even eat your meals, skip past health appointments, and essentially run around like a chicken with your head cut off for days, months, even years to build up a new business. But it can be worth it – for the autonomy, the result, and to live your dream.

With the right mindset also comes the right planning. By taking time at the start to create a business plan and ensure that you have clearly outlined your process, considering all the obstacles along the way and how you will manage them, you will already increase your chances of survival. A solid business plan is worth investing the time in – and referring to it constantly to ensure you are staying on course, while remaining fluid to change your model as it is needed. It can also be invaluable if you need to seek capital investments, bank loans, or other financial assistance as typically any secured or unsecured funding requires the presentation of a formal and viable business plan.

 

There are many important aspects to include in the plan. For example, be sure to stress the relation between the location you selected and the demographics your business will serve; be sure to highlight ownership and day-to-day management; include a solid marketing plan; and very importantly – your financial projections with cash flow and balance sheet. Don’t be lazy, and don’t go in with blinders on. Be prepared and be patient.

The Business Plan is the first start to your business. There are generic templates online you can use, but these can be confusing and they aren’t specific to your market, industry and business together. The more detail you have, the better the plan will serve you.  Contact us to help you create your business plan; or critique/edit what you have – after all the businesses we have been involved in, we’re PROs!

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