Wednesday, June 29, 2005

What Business Model Should You Follow?

What is a good business plan model to follow for small businesses?
The simplest business plan model to follow for small businesses is one that works for you, according to SCORE, Counselors To America's Small Business. A business plan should be a working document that not only addresses the questions Who, What, Where, When, How and How Much, but also acts as a monitoring dashboard that warns you of impending danger. The plan should be written in a clear concise manner with validated facts. The plan will convey your abilities as owner of the business to plan and communicate effectively.
The elements of your plan may require time to properly research and evaluate your business ideas. This means gathering data, evaluating your concepts, assessing the market for your products and services and studying the competition. Your financials and sales projections must equal your written words in the other segments of your plan; otherwise potential investors and lenders will loose interest in your business immediately.

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