Develop a Business Plan
This is probably the most important step in starting a business but one that
is often overlooked. It is important that you write the plan although seeking
assistance or advice may be necessary to complete it. The business plan is really
your blueprint for success. In developing it you will determine the market potential
for your product/service, study and evaluate the competition, determine pricing
of your product/service, and develop financial statements.
There are two purposes for writing a business plan: to provide a clearly articulated
statement of strategy for internal operational purposes and to create a selling
document to be shared with outsiders for the purpose of convincing potential
lenders or investors that your business is potentially profitable and conceptually
sound.
JMI Business Plan Page
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